Company information

About group

History / acvhievements

Geography

Shareholdings & structure

Board of directors

Executive managment

Annual reports

Press centre

Recent news

News archive

Articles & publications

Articles & publications archive

Contact Information

Investor relations

Reorganisation: questions and answers

Subsidiaries" profiles

Securities

For shareholders

Analyst Coverage

Financial reports

Investor reports

Presentations

Contact information

Recent news

03.08.2009
CenterTelecom: H1 2009 financial results

Press release

 

Moscow, August 3, 2009. CenterTelecom hereby announces the results of its financial activities for the first six months of 2009 in accordance with Russian Accounting Standards (RAS).

 

Headline indicators of

CenterTelecom in H1 2009, Rub mln

 

Indicator	H1 2009	H1 2009	Change, %
Revenues from core operations	17,775	16,426	+8.21
incl. telecomservices	16,775	15,552	+7.86
Operating expenses	14,526	12,456	+16.62
incl. operations	2,261	2,056	+9.97
EBITDA (1)	8,320	6,466	+28.67
EBITDA margin (2)	46.81%	39.36%	-
EBIT	3,248	3,970	-18.19
Net profit	2,499	2,018	+23.84

 

(1) EBITDA is calculated as profit before taxation plus interest payable, depreciation, amortization, lease payments minus interest receivable;  (2) EBITDA margin is calculated as the ratio of EBITDA to revenue.

 

 

Efficiency indicators

 

• The number of lines per employee increased by 40.16% to 232.69 lines (up from 166.02 in the first six months of 2008);
• Revenue per line in the first six months of 2009 increased by 7.33% from Rub 2,408.69 in H1 2008 to Rub 2,585.17 in the reporting period;
• Revenue per employee amounted to Rub 601,550 in the first six months of 2009, which is 50.43% more than the same metric in H1 2008, i.e. Rub 399,880;
• Average number of staff decreased by 28.04% to 29,548 employees (41,075 in the first six months of 2008);

 

Revenue breakdown of CenterTelecom in H1 2009, Rub mln

 

Indicator	H1 2009	H1 2008	Change, %
Local voice telephony	8,461	7,899	+7.11
Intrazonal telephony	3,020	3,071	-1.66
Datacom and ISP	2,867	2,096	+36.78
Incl. Internet access	2,433	1,756	+38.55
Outsourcing and agency fees	503	533	-5.63
Interconnect and traffic transmission	1,817	1,904	-4.57
Other revenue from telecom services	611	582	-4.98
Other (non-core forms of business activity)	496	341	+45.45
TOTAL	17,775	16,426	+8.21

  

The broadband Internet subscriber base (Domolink trademark) increased by 28.03% in H1 2009 and stood at 902,739 subscribers (vs. 705,075 as of year-end 2008).  The share of revenue from Internet assess rose to 13.69% (vs. 10.69% in H1 2008). 

 

The number of main telephone lines went up by 0.27% as of year-end 2009 compared with the same period in 2008 and stood at 6,695,994 units (up from 6,678,220 as of June 1, 2008).

  

Expense structure of CenterTelecom in H1 2009, Rub mln

 

Indicator	H1  2009	H1  2008	Change, %
Depreciation	2,261	2,056	+9.97
Payroll and social insurance contributions	4,601	4,558	+0.94
Material expenses	1,046	885	+18.19
Interconnect	1,282	1,392	-7.90
Leasing	2,287	1,129	+102.57
incl. leasing payments	1,949	816	+138.85
Other	3,049	2,439	+25.16
TOTAL	14,526	12,456	+16.62

 

The increase in other expenses (higher costs for public phone maintenance and repair), as well as lease payments made during the first six months of 2009 came in conjunction with the implementation by CenterTelecom of a project aimed at introducing universal services in the territory of the Central Federal District of the Russian Federation.  In accordance with the current legislation, the company will receive compensation for these expenses from the Universal Service Fund.

 

For more complete information on the company’s accounting reports in H1 2009, press this link.