CenterTelecom Reports 29.69% Growth Net Profit for 2009 Based on IFRS
OREANDA-NEWS. December 15, 2010. CenterTelecom, the largest telecommunications operator in
Key Financial Highlights for January-September 2010, RUB Million
|
Indicator |
9M 2010 |
9M 2009 |
Absolute deviation |
Relative deviation |
|
Revenues |
30,039 |
27,427 |
2,612 |
9.52% |
|
Operating expenses (net) |
(20,868) |
(19,071) |
(1,797) |
9.42% |
|
Operating profit |
9,171 |
8,356 |
815 |
9.75% |
|
Profit before tax |
7,847 |
6,150 |
1,697 |
27.59% |
|
Net profit for the reporting period |
6,168 |
4,756 |
1,412 |
29.69% |
|
EBITDA |
14,169 |
13,027 |
1,142 |
8.77% |
|
EBITDA margin %
|
47.17% |
47.50% |
- |
- |
|
Profit margin for the reporting period, % |
20.53% |
17.34% |
- |
- |
|
Fixed assets |
47,959 |
47,264 |
695 |
1.47% |
|
Long term liabilities |
12,013 |
15,929 |
(3,916) |
-24.58% |
|
Current liabilities |
14,858 |
11,962 |
2,896 |
24.21% |
|
Net debt |
12,843 |
16,558 |
(3,715) |
-22.44% |
|
Net cash from core operations |
10,337 |
9,126 |
1,211 |
13.27% |
|
Net cash spent for investments |
(4,967) |
(2,942) |
(2,025) |
68.83% |
|
Net cash used in the course of financial activities |
(3,237) |
(5,703) |
2,466 |
-43.24% |
Income Structure for January-September 2010, RUB Million
|
Indicator |
9M 2010 |
9M 2009 |
Relative deviation |
|
Local telephony services |
13,994 |
12,457 |
12.34% |
|
Intra-zone telephony services |
4,074 |
4,274 |
-4.68% |
|
Interconnection and traffic transfer services |
2,971 |
2,809 |
5.77% |
|
Data transmission and telematic services (Internet) |
5,577 |
4,511 |
23.63% |
|
Cooperation and agency services |
783 |
797 |
-1.76% |
|
Installation and connection fee |
266 |
344 |
-22.67% |
|
Mobile telecommunications, wire broadcasting, radio and TV |
557 |
560 |
-0.54% |
|
Other services |
861 |
868 |
-0.81% |
|
Revenues from other sales |
956 |
807 |
18.46% |
|
including income from lease of assets |
660 |
571 |
15.59% |
|
Total |
30,039 |
27,427 |
9.52% |
For the first nine months of 2010 CenterTelecom's revenues increased by 9.52% against the same period of 2009. Among key drivers of growth were:
· 50.6% increase in the number of subscribers of broadband Internet access services reaching 1,521,883 users (against 1,010,826 subscribers as of September 30, 2010). It contributed to 23.63% increase in revenues (RUB5.577 billion) from telematic and data transmission services in comparison with 9M 2009 data.
· 12.34% increase in revenues from local telephone communications (to RUB13.994 billion) against 9M 2009 caused by the subscribers' switch to time based billing and by adjustment of tariffs (9.6% increase in tariffs in Russia's Central Federal District on the average) in February 2010.
CenterTelecom’s Expenses Structure for January-September 2010, RUB Million
|
Indicator |
9M 2010 |
9M 2009 |
Relative deviation |
|
Personnel costs |
7,571 |
7,161 |
5.73% |
|
Depreciation and amortization |
4,994 |
4,803 |
3.98% |
|
Material costs, repair, maintenance, public utility services |
2,973 |
2,669 |
11.39% |
|
Expenses on telecommunications operators’ services |
2,308 |
2,080 |
10.96% |
|
Taxes except profit tax |
674 |
646 |
4.33% |
|
Expenses related to agency services |
2,308 |
2,080 |
10.96% |
|
Reimbursement of losses from provision of universal telecommunications services |
(2,068) |
(2,116) |
-2.27% |
|
Other operating income and expenses, net |
3,670 |
3,137 |
16.99% |
|
Total: |
20,868 |
19,071 |
9.42% |
Vaagn Martirosyan, General Director, CenterTelecom, commenting on the company's results, said: "Our focus on promotion of high margin products and services, implementation of user projects with high financial returns, and our customers' needs, jointly with strict adherence to CenterTelecom's development and business transformation strategy contributed to the company's high efficiency for the first nine months of 2010."
CenterTelecom’s IFRS unaudited accounting statement for 9M 2010 is available at the company's web-site.
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