Rostelecom Releases Financial Results under RAS for Q1-2014
OREANDA-NEWS. Rostelecom OJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, today announces that its financial statements for the first quarter of 2014, under Russian Accounting Standards (“RAS”), have been made available in the “Investor Relations” section of its corporate website.
The Company would like to draw investors', shareholders' and other stakeholders' attention to certain key points relating to the results for the first quarter of 2014 which should be taken into account during their analysis.
Rostelecom's financial results under RAS for the first quarter of 2014 exclude any contribution from its subsidiaries. The Company's balance sheet as at March 31, 2014, comprises only Rostelecom's performance, but it also excludes the contributions of its subsidiary companies.
Moreover, when analysing the trends for the first quarter of 2014 RAS results compared to the same period of 2013, it is essential to take into account the merger of Svyazinvest and 20 other joint-stock companies1 with Rostelecom held on October 1, 2013.
Rostelecom intends to publish its financial and operational results under IFRS according to the Company's consolidated statements for the first quarter of 2014 on May 27, 2014. These results will include contributions from Rostelecom and its subsidiaries.
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