Thursday, 23 November 2017

Rostelecom reports Q3 results

Rostelecom
Wednesday 21 November 12

Rostelecom OJSC, Russia’s national telecommunications operator, today announced its unaudited IFRS consolidated1 financial results for the third quarter and nine months ended September 30, 2012. NINE MONTHS FINANCIAL HIGHLIGHTS Consolidated revenues up 8% year-on-year to RUB 238.7 billion OIBDA2 up 8% year-on-year to RUB 94.0 billion with an OIBDA margin of 39.4% compared to 39.2% for the same period of 2011 Net income up 13% year-on-year to RUB 30.6 billion Capital expenditure3 of RUB 63…

Rostelecom OJSC, Russia’s national telecommunications operator, today announced its unaudited IFRS consolidated1 financial results for the third quarter and nine months ended September 30, 2012.

NINE MONTHS FINANCIAL HIGHLIGHTS

Consolidated revenues up 8% year-on-year to RUB 238.7 billion
OIBDA2 up 8% year-on-year to RUB 94.0 billion with an OIBDA margin of 39.4% compared to 39.2% for the same period of 2011
Net income up 13% year-on-year to RUB 30.6 billion
Capital expenditure3 of RUB 63.5 billion, representing 26.6% of consolidated revenues
Net debt of RUB 197.6 billion with a net debt / annualised OIBDA ratio of 1.6x as at September 30, 2012.

THIRD QUARTER FINANCIAL HIGHLIGHTS

Consolidated revenues up 2% year-on-year to RUB 77.0 billion
OIBDA of RUB 29.4 billion with an OIBDA margin of 38.2%
Net income up 8% year-on-year to RUB 9.9 billion
Capital expenditure of RUB 21.6 billion, representing 28.1% of consolidated revenues

KEY OPERATING HIGHLIGHTS

Total number of households passed reached 33.4 million4, of which 15.7 million (47%) were passed using FTTx technology
Total broadband subscriber base up 12% year-on-year to 8.9 million
Total Pay TV subscriber base increased by 11% year-on-year to 6.4 million, of which 1.2 million are interactive TV subscribers.

Alexander Provotorov, President of Rostelecom, commented: “We continue to deliver on our strategy, which was approved by the Board in May 2011. During the third quarter, we were actively involved in the construction of our mobile networks in selected regions, primarily where Rostelecom already has mobile operations or uses frequency licences obtained through the acquisition of Sky Link, which was completed at the end of July. Following the test launch of our first 3G network in the Irkutsk region, the mobile data traffic in the region increased by 1.5 times. This clearly indicates that we are moving in the right direction to meet our clients’ needs. Our successful participation in the LTE licence tender process was also among the key developments of the third quarter“.

Anton Khozyainov, Senior Vice President of Rostelecom, added: “During the nine months to September 30, 2012, our top line grew 8% year-on-year to RUB 238.7 billion the, OIBDA margin increased to 39.4% and net income grew 13% year-on-year to RUB 30.6 billion. In addition, in early November, we increased the share of our long-term debt by placing bonds with a total value of RUB 10 billion. This was the first time the united Rostelecom has issued bonds since the start of the reorganisation process in 2011. Rostelecom’s strong credit ratings and the high demand for our bonds from investors enabled us to achieve attractive terms for this offering and to set the coupon at 8.55% per annum.”

1Q1 2011 financial results include contributions from North-West Telecom OJSC, CenterTelecom OJSC, Southern Telecommunications Company OJSC, VolgaTelecom OJSC, Uralsvyazinform OJSC, Sibirtelecom OJSC, Far East Telecom OJSC (“RTOs”), and also Dagsvyazinform OJSC and Rostelecom OJSC (under RAS), which had been under common control of Svyazinvest OJSC and were merged with Rostelecom on April 1, 2011. Operating activities include contributions from Sky Link CJSC, which was acquired by Rostelecom from Svyazinvest on July 27, 2012

2Here and below, please refer to Attachment 1 of this statement for a full definition of OIBDA

3Here and below, capital expenditure (“CAPEX”) comprises cash spent on purchase of property, plant and equipment and intangible assets

4Calculated as the sum of total number of households passed by xDSL, FTTx and xPON technologies, excluding technology intersections.
 


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