NOVOSIBIRSK. Nov 5 (Interfax) - OJSC Sibirtelecom's sales revenue according to Russian accounting standards (RAS) increased 1.9% year-on-year to 20.871 billion rubles, the company said in statement.
The company said that the increasing number of Internet users was the main factor influencing the increase in revenue.
Profit from sales in the period dropped by 17.5% to 3.45 billion rubles while pretax profit shrank by 38.1% to 2.142 billion rubles. The company said this was the result of increasing payments on interest as well as decreasing dividends.
Sibirtelecom's revenues for Jan-Sept (in mlns of rubles):
|9 mths 2009||9 mths 2008||Changes %|
|Revenues||20 870.9||20 482.3||1.9|
|Expenditures||17 419.6||16 298.4||6.9|
|OIBDA||6 990.7||7 173.6||(2.5)|
|EBITDA||7 419.6||7 660.9||(3.1)|
|Profit from sales||3 451.3||4 183.9||(17.5)|
|Profit margin from sales||16.5%||20.4%||-|
|Pretax profit||2 141.6||3 458.2||(38.1)|
|Net profit||1 737.3||2 686.2||(35.3)|
|Net profit margin||8.3%||13.1%||-|
Revenue from providing local telephone services accounted for 41.7% of total revenue, data transfer and Internet access - 19.5%, intra-zone telephone services - 17.9%, connection and traffic transfer - 9.3% and cellular operations - 3.8%.
Revenue from data transfer and Internet access increased over the three quarters by 28.3% owing to increasing broadband access. As of October 1, 2009, total broadband users came to 543,500 subscribers, up 69.6% year-on-year.
Revenue from the provision of local telephone services increased by 2.7% owing to the indexation of tariffs starting from March 1, 2009. Revenues from leasing facilities increased by 25.9% since the company saw expansion in total facilities.
At the end of the nine months, total revenues from connection and traffic services dropped by 18.3% while revenue for agent and assistant services through an agreement with Rostelecom dropped by 17.1%. In addition, revenue from connection and traffic services, as well as cellular provision, dropped by 14% while revenue from intra-zone services went down by 7.8%
Sibirtelecom's expenditures in January-September increased by 6.9% to 17.42 billion rubles. Labor costs and social insurance payments accounted for 35.8% of expenditures, amortization of main funds - 20.3%, expenses for operator services - 11.3%, payments for services by other organizations - 10.5% and miscellaneous expenses - 11.8%.
Sibirtelecom's debt burden since the start of the year went up by 2 billion rubles to reach 17.7 billion rubles at the end of September 30.
Sibirtelecom's net profit in the nine months dropped 41% to 1.737 billion rubles.
Sibirtelecom is the incumbent fixed-line provider in the Siberian Federal District. The company's main shareholder is Svyazinvest with 50.67% of common stock and 38.23% of voting stock.