4 Jun 2010 13:26

Sibirtelecom IFRS net profits leap 29% in 2009

MOSCOW. June 4 (Interfax) - OJSC Sibirtelecom increased its net profits to International Financial Reporting Standards (IFRS) by 29.1% in 2009 to 1.974 billion rubles, the company said.

Company sales revenues increased 1.4% to 38.036 billion rubles, OIBDA 9.3% to 14.356 billion, and the OIBDA margin to 37.7% from 35% in 2008. EBITDA increased 18.2% to 14.069 billion rubles and the margin to 37% from 31.7%.

Revenue from the sale of local telephone communication services was up 2.6% at 11.731 billion rubles. From intra-zone communication service sales, however, revenues decreased 8.5% to 4.928 billion rubles.

Sales revenues from cellular communications services were down 1.3% at 9.657 billion rubles.

Data-transmission and telemetry services provided Sibirtelecom with 5.632 billion rubles, a 28% increase from 2008.

Revenues from linking and traffic-hosting services dropped 11% to 3.655 billion rubles.

Sibirtelecom's expenses increased 1.2% to 33.256 billion rubles.

Capital expenditures amounted to 4.811 billion rubles, 61.7% down from the previous year. The bulk of capex was on developing local telephone communications, data-transmission networks, and communications infrastructure. Investment in cellular communications services in 2009 represented 36.3% of overall capex.

Sibirtelecom provides fixed-line and mobile communications services in the Siberian federal district. Its main shareholders are the state-run holding OJSC Svyazinvest with 50.67% of common shares and 38.23% of voting shares.