AFK Sistema in Q4 posts $3.9 bln in revenue, $616 mln OIBDA, slightly above forecast
MOSCOW. Apr 2 (Interfax) - The revenue of AFK Sistema to US GAAP in Q4 2014 was $3.9 billion, which is 29.5% lower than revenue in the same period of 2013 - $5.53 billion (without account of Bashneft's results), the company said in a statement.
Adjusted OIBDA fell by more than 50% to $616 million, OIBDA margin fell to 15.8% from 25.5%.
Adjusted net losses were $2.6 million against profit of $556.4 million a year earlier. Losses with account of the effect from the loss of Bashneft were $5.3 billion. AFK also reflected the impairment of the main funds of India's SSTL mobile operator for $290 million.
The published figures for revenue and OIBDA were slightly higher than the consensus forecast of analysts - $3.78 billion and $591 million, respectively.
AFK Sistema for Q4 first published ruble-denominated results as well. The corporation's revenue rose 2.1% to 183 billion rubles and OIBDA fell by 35% to 30 billion rubles.
In 2014, AFK's revenue fell by 10.4% to $16.6 billion, OIBDA by 20.3% to $4.4 billion, adjusted net profit by 26.4% to $1.1 billion. In ruble terms, revenue rose by 7.2% to 632 billion rubles, OIBDA fell 6.9% to 165 billion rubles, adjusted net profit fell by 14.5% to 44.2 billion rubles.
