Sistema Presents Financial Results for 3Q
OREANDA-NEWS. December 02, 2013. Sistema JSFC ("Sistema" or the "Company", together with its subsidiaries, "the Group") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, announces its unaudited consolidated US GAAP financial results for the third quarter ended September 30, 2013.
THIRD QUARTER HIGHLIGHTS
- Consolidated revenues up 5.4% YoY to USD 9.3 billion
- Adjusted OIBDA up 0.3% YoY to US\\$ 2.4 billion, with an adjusted OIBDA margin of 26.4%
- Consolidated net income attributable to the Group more than doubled YoY to USD 1.3 billion.
Adjusted net income attributable to the Group amounted to USD 663.7 million
- Net debt at the Corporate Holding level amounted to USD 785.1 million as of September 30, 2013
KEY CORPORATE HIGHLIGHTS FOR THE THIRD QUARTER
- Acquisition of a 100% stake in LLC Bashneft-Services Assets from Bashneft for a total cash consideration of RUB 4.1 billion.
- Acquisition of a 98% stake in OJSC United Petrochemical Company (UPC) from Bashneft for RUB 6.2 billion.
- A joint venture agreement signed by Sistema's UPC with the Mexican company Grupo Petrotemex, S.A. de C.V., a subsidiary of Alpek, S.A.B. de C.V. for the construction of an integrated purified terephthalic acid - polyethylene terephthalate plant in Ufa, Bashkortostan.
- Sale of a 49% stake in OJSC Oil and Gas Company RussNeft, for a total cash consideration of US\\$ 1.2 billion.
- Completion of another stage in the reorganisation of the Group's transportation assets under the SG-trans brand: Sistema sold a 15% stake in SG-trans to Unirail Holdings Limited for RUB 2.5 billion.
- Completion of the buy back of 25%+1 of Detsky mir-Centre's shares by Sistema's Detsky mir-Centre, through its wholly owned subsidiary, from Sberbank of Russia for RUB 4.5 billion.
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