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Recent news
03.06.2010
North-West Telecom reports FY09 IFRS financial resultsPress release
North-West Telecom hereby reports its FY09 financial results drafted to International Financial Reporting Standards (IFRS). An audit of the company’s financial statement was conducted by PricewaterhouseCoopers Audit.
In accordance with IFRS, NWT’s revenue increased by 5.5% compared with the year-earlier period and stood at RUR 26,566 mln. In addition, operating expenses amounted to RUR 26,288 mln, which is 13.5% higher than in 2008. As a result, the company’s operating profit increased by 2.7% in 2009, amounting to RUR 4,718 mln.
More than 50% of North-West Telecom’s revenue comes from local voice earnings, which amounted to RUR 13,407 mln in full-year 2009, up 4% compared to the year-earlier period.
Revenue from datacom and Internet access increased by 20% and amounted to RUR 5,322 mln. In addition, the proportion of value-added services (telegraphic, datacom and telematic services) in revenue continues to rise. This metric stood at 20.0% in 2009, up from 18.4% in 2008, which points to a higher level of diversification of NWT’s business activities.
EBITDA* for 2009 under IFRS amounted to RUR 10,963 mln, which is 14.0% more than in the same period last year, while EBITDA margin rose by 3.1% to 41.3%.
North-West Telecom’s net profit in full-year 2009 drafted to IFRS amounted to RUR 2,591 mln, which is 1.2% higher than in 2008.
As was the case last year, North-West Telecom released its IFRS annual financial statement long before the annual general shareholders meeting, as a result of which the company’s shareholders receive a high-quality and easy-to-understand tool that can be used to evaluate NWT’s 2009 financial performance and adopt well-pondered decisions with regard to the upcoming annual general shareholders meetings.
*EBITDA is calculated using the following formula: “Profit during the reporting period” + “Income tax” + “Depreciation and amortization” + “Financial expenses” – “Interest revenue”.
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