Recent news
28.07.2010
North-West Telecom reports H1 10 financial resultsPress Release
North-West Telecom released today the results of its financial and operating activities for the first six months of 2010 under RAS.
Revenue stood at RUR 13,954 mln, including RUR 12,826 mln from telecommunications services. Revenue increased by 9.1% year-on-year, including revenue from telecommunications services, which rose 8.5%.
The main revenue drivers were earnings from Internet and datacom, as well as revenue from local voice, which rose 18.5% and 7.3%, respectively. In monetary terms, Internet and datacom revenue stood at RUR 2,847 mln in H1 2010, while local voice revenue amounted to RUR 7,108 mln.
NWT's total cost side totaled RUR 11,862 mln in the first six months of 2010, which represents a 7.7% increase compared to the year-earlier period. As a result, North-West Telecom’s revenue grew at a faster pace than expenses, which shows that the Company was effective in its cost-cutting efforts, and also points to its successful marketing policy thanks to which NWT managed to raise its revenue from telecommunications services.
EBITDA* stood at RUR 6,380 in the first half of 2010, which is 21.2% more than in the same period last year, while EBITDA margin increased 4.6% to 45.7%. Net profit generated by North-West Telecom amounted to RUR 2,306 mln in the first six months of 2010, which is 43.5% more than in the year-earlier period.
This stellar performance by North-West Telecom is attributable both to the improved macroeconomic situation and also the operator’s successful cost-containment and revenue raising efforts.
*EBITDA is measured using the following formula: profit (loss) before taxation + interest payable – interest receivable + depreciation and amortization of fixed assets + lease expenses.
The Company’s balance sheet and its profit and loss report for the first six months of 2010 are posted on the corporate website of NWT in the section entitled “Economics and finances”.
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