8 Dec 2010 15:43

Analysts predict AFK Sistema revenues will be up 36% for Q3

MOSCOW. Dec 8 (Interfax) - Third-quarter sales revenues at AFK Sistema as calculated to US GAAP will come to $7.24 billion, or 35.7% more year-on-year, according to analysts surveyed by Interfax.

The key growth factor will be higher revenues from the company's power and telecommunications assets, which respectively account for roughly 50% and 40% of Sistema's income.

A consensus forecast of analysts from eight investment companies and banks reckons Sistema will post OIBDA of $1.87 billion with a margin of 25.8%. The analysts put net profits at $178 million.

Q3 OIBDA came to $3.17 billion last year and net profits to $1.68 billion. Those high numbers reflect the reporting of profits resulting from the acquisition of BashTEK energy assets. Excluding this one-off factor, Q3 OIBDA was $1.5 billion last year with a margin of 27.9%. Q3 2009 net profits were $202 million.

The analysts are not anticipating any surprises in Sistema's report, considering that all the company's public subsidiaries have already reported their third-quarter financials.

AFK Sistema is scheduled to release its Q3 report on December 9.