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Recent news
03.11.2009
Sibirtelecom releases 9M09 RAS financial and operating results
Press release
Sibirtelecom (RTS: ENCO/ENCOP, ENCOG/ENCOPG; ÌICEX: STKM/STKMP; ADR: ÎÒÑ– SBTLY, Frankfurt and Berlin stock exchanges - ISIN: US8257351036, WKN: 260452) – a telecommunications operator providing services in the Siberian Federal District hereby reports its 9M09 business results in accordance with Russian Accounting Standards (RAS).
Revenue
- Sibirtelecom’s 9M09 revenue (hereinafter, the Company) not including the results of its subsidiary business stood at RUR 20,870.9 mln, which implies an increase of RUR 388.6 mln, or 1.9% compared with the same period last year.
The main factor driving growth in the Company’s revenue during the reporting period was the expansion of broadband Internet services, i.e. a higher number of Internet users and a large volume of Internet traffic.
Revenue breakdown (RUR, mln)
|
Revenue item |
9M09 |
9M08 |
Change |
|
RUR, mln |
% |
|
Local voice telephony |
8,696.3 |
8,464.0 |
232.3 |
2.7 |
|
incl:
universal telecom services |
0.5 |
0.4 |
0.1 |
25.0 |
|
Telegraphic, datacom and telematic services |
4,237.7 |
3,312.5 |
925.2 |
27.9 |
|
incl:
datacom and datacom and Internet access
|
4,064.9 |
3,144.0 |
920.9 |
29.3 |
|
Intrazonaltelephony |
3,730.3 |
4,045.6 |
(315.3) |
(7.8) |
|
Interconnect and traffic transmission |
1,917.6 |
2,347.2 |
(429.6) |
(18.3) |
|
Non-operatingservices |
815.6 |
647.9 |
167.7 |
25.9 |
|
incl:
line-leasing |
589.4 |
409.0 |
180.4 |
44.1 |
|
Mobile (cellular) telephony |
783.5 |
910.6 |
(127.1) |
(14.0) |
|
Outsourcing and agency services |
362.4 |
437.3 |
(74.9) |
(17.1) |
|
Mobileand radio communication, radio and television broadcasting |
326.9 |
317.0 |
9.9 |
3.1 |
|
Otheroperatingrevenue |
0.6 |
0.2 |
0.4 |
200.0 |
|
Total |
20,870.9 |
20,482.3 |
388.6 |
1.9 |
The major item in the Company’s revenue structure was the provision of local voice telephony, 41.7% for a total of RUR 8,696.3 mln).
Other substantial items in the revenue mix include revenue from the provision of datacom services, and Internet service provision (RUR 4,064.9 mln) and intrazonal telephony (RUR 3,730.3 mln), which accounted for 19.5% and 17.9%, respectively. Revenue generated from interconnect and traffic transmission accounted for 9.2% (RUR 1,917.6 mln) of the operator’s total revenue. Additionally, mobile telephony accounted for 3.8% (RUR 783.5 mln).
Compared with the same period in 2008 (not including the subsidiary business):
- the largest growth in revenue came from datacom and Internet access, up 29.3% or RUR 920.9 mln. The main drivers for this revenue item were growth in the number of broadband subscribers and higher revenue from Internet access. As of October 1, 2009 the number of broadband subscribers stood at 543,500 (+69.6% compared with the same period in 2008);
- higher revenue from the provision of local telephony services, for a total of RUR 232.3 mln, or up 2.7%, which is mainly attributable to the indexation of regulated tariffs effective March 1, 2009;
- growth in revenue from the provision of non-operating services stood at RUR 167.7 mln, or 25.9%, which is due to a bigger number of leased assets;
- lower revenue from interconnect and traffic transit, which totaled RUR 429.6 mln, or 18.3%, which is attributable to smaller volumes of traffic transit, and also the cancellation of tariff charges at interconnection points as of March 1, 2008;
- a decrease in revenue from the provision of intrazonal telephony for a total of RUR 315.5 mln, or down 7.8%, which is attributable to a decline in traffic volumes;
- lower mobile telephony earnings, which totaled RUR 127.1 mln, or down 14%, which is attributable to a decline in the consumption of telecom services by subscribers both in the household and the corporate segments;
- a decline in revenue equal to RUR 74.9 mln, or down 17.1% from outsourcing and agency services provided under an agreement with Rostelecom. The decrease came as a result of a lower volume of services provided to users on the part of Rostelecom, and also the conclusion of direct agreements with users on the part of Rostelecom.
Expenses
- The Company’s expenses (not including its subsidiary business) during the first nine months of 2009 increased by RUR 1,121.2 mln, or by 6.9% compared with the same period in 2008 and amounted to RUR 17,419.6 mln.
Expense breakdown (RUR, mln)
|
Expense item |
9M09 |
9M08 |
Change |
|
RUR, mln |
% |
|
Payrolls |
(5,010.9) |
(5,029.5) |
18.6 |
(0.4) |
|
Depreciation of fixed assets |
(3,527.5) |
(2,985.3) |
(542.2) |
18.2 |
|
Services payable to telecom operators (except for Rostelecom) |
(1,945.8) |
(2,020.5) |
74.7 |
(3.7) |
|
Outsourcing |
(1,827.9) |
(1,506.9) |
(321.0) |
21.3 |
|
Socialinsurancecontributions |
(1,229.2) |
(1,142.0) |
(87.2) |
7.6 |
|
Materials |
(852.7) |
(1,134.0) |
281.3 |
(24.8) |
|
Leasing payment |
(500.6) |
(487.9) |
(12.7) |
2.6 |
|
Services payable to Rostelecom |
(312.8) |
|
