Uralsvyazinform Announced IFRS 1H Results
OREANDA-NEWS. September 28, 2010. Uralsvyazinform (RTS and MICEX: URSI/URSIP, АDR: UVYZY/UVYZYP) – a universal telecommunications operator in the Urals region – hereby presents its consolidated unaudited financial results for January-June
Headline financial indicators
|
Indicator |
1H10 |
1H09 |
Change |
|
Revenue, RUR, mln |
21,308 |
20,102 |
+6.0% |
|
Operating expenses, RUR, mln |
16,411 |
16,909 |
-2.9% |
|
EBITDA, RUR, mln |
9,732 |
7,899 |
+23.2% |
|
EBITDA margin |
45.7% |
39.3% |
+6.4% |
|
Operating profit, RUR, mln |
5,561 |
3,986 |
+39.5% |
|
Operating margin |
26.1% |
19.8% |
+6.3% |
|
Profit for reporting period, RUR, mln |
3,765 |
1,658 |
+127.1% |
|
Net margin |
17.7% |
8.2% |
+9.4% |
|
Net debt, RUR, mln |
13,782 |
21,104 |
-34.7% |
|
EBITDA is calculated as earnings before taxation not including amortization and interest expenses (net). Margins are calculated as the ratio of the respective indicator to revenue. Net debt is calculated as the difference between interest debt and the sum of cash & cash equivalents.
| |||
Revenue breakdown
|
|
1H10 |
1H09 |
Change | ||
|
RUR mln |
Proportion |
RUR mln |
Proportion | ||
|
|
7,773 |
36.5% |
6,248 |
31.1% |
+24.4% |
|
Local voice |
5,618 |
26.4% |
5,230 |
26.0% |
+7.4% |
|
Telegraphic, datacom and telematic services (ISP) |
3,593 |
16.9% |
3,200 |
15.9% |
+12.3% |
|
Intrazonal telephony |
2,114 |
9.9% |
2,307 |
11.5% |
-8.4% |
|
Interconnect and traffic transmission |
1,377 |
6.5% |
2,276 |
11.3% |
-39.5% |
|
Other revenue |
521 |
2.4% |
542 |
2.7% |
-3.9% |
|
Mobile telephony, wire broadcasting, radio broadcasting, television |
283 |
1.3% |
267 |
1.4% |
+6.0% |
|
Outsourcing and agency |
19 |
0.1% |
27 |
0.1% |
-29.6% |
|
Other services |
10 |
0.0% |
5 |
0.0% |
+100.0% |
|
Total |
21,308 |
100.0% |
20,102 |
100.0 |
+6.0% |
The increase in revenue for the first six months of 2010 compared with the year-earlier period is attributable to the following factors:
higher revenue in the mobile telephony segment (+24.4% vs. the year-earlier period) due to a rise in ARPU and a 5.4% increase in the proportion of this segment in the revenue breakdown;
a 12.3% rise in revenue from the provision of datacom and telematic services (Internet access), which was attributable to an increase in the number of users and an increase in traffic;
a 7.4% increase in revenue in the local voice segment as a result of tariff indexation pursuant to a decision by the Federal Tariff Service of Russia as of January 1, 2010.
As of the end of the first half of 2010 revenue from unregulated services exceeded one half of the total amount of Uralsvyazinform’s revenue and stood at 53.4% (compared to 47.0% in the year-earlier period).
Operating expenses
|
|
1H10 |
1H09 |
Change | ||
|
RUR, mln |
proportion |
RUR, mln |
proportion | ||
|
Personnel expenses |
4,139 |
25.2% |
4,023 |
23.8% |
+2.9% |
|
Depreciation and amortization |
3,929 |
23.9% |
4,096 |
24.2% |
-4.1% |
|
Interconnect |
2,402 |
14.6% |
2,890 |
17.1% |
-16.9% |
|
Materials, repair and maintenance, utilities |
1,597 |
9.8% |
1,622 |
9.6% |
-1.5% |
|
Other operating expenses, incl. |
4,344 |
26.5% |
4,278 |
25.3% |
+1.5% |
|
Agency fees |
1,054 |
6.4% |
1,192 |
7.0% |
-11.6% |
|
Outsourcing, SG&A |
1,304 |
7.9% |
1,057 |
6.3% |
+23.4% |
|
Taxes, except for profit tax |
514 |
3.1% |
524 |
3.1% |
-1.9% |
|
Property lease |
348 |
2.1% |
361 |
2.1% |
-3.6% |
|
Total operating expenses |
16,411 |
100.0% |
16,909 |
100.0% |
-2.9% |
Debt
|
Indicators (RUR, mln) |
as of June 30, 2010 |
as of December 31, 2009 |
Change |
|
Long-term borrowing liabilities |
9,282 |
14,102 |
-34.2% |
|
Current borrowing liabilities |
5,219 |
8,626 |
-39.5% |
|
Total (interest debt) |
14,501 |
22,728 |
-36.2% |
|
Interest debt is calculated as the sum of long-term and current borrowing liabilities. | |||
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