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Recent news03.11.2009 |
|
Indicator |
9M09 |
9M08 |
Change |
|
Revenue, RUR, mln |
20,069.0 |
19,459.3 |
+3.1% |
|
Revenue, RUR, mln |
19,068.9 |
18,497.5 |
+3.1% |
|
Operatingexpenses, RURmln |
15,635.9 |
15,412.2 |
+1.5% |
|
EBIT, RUR, mln |
4,433.1 |
4,047.1 |
+9.5% |
|
Operating profit, including reimbursement of losses incurred for the provision of universal telecom services, RUR, mln1 |
5,224.9 |
4,673.2 |
+11.8% |
|
Profit before tax, RUR, mln |
3,925.8 |
3,485.7 |
+12.6% |
|
OIBDA, RUR, mln2 |
8,080.6 |
7,277.3 |
+11.0% |
|
OIBDA margin, % 3 |
40.3 |
37.4 |
+2.9% |
|
EBITDA, RUR, mln 4 |
9,031.6 |
7,711.1 |
+17.1% |
|
EBITDA margin, % 5 |
45.0 |
39.6 |
+5.4% |
|
Netprofit, RUR, mln |
3,176.6 |
2,572.8 |
+23.5% |
|
Net profit margin, % |
15.8 |
13.2 |
+2.6% |
1EBIT expenses and earnings were heavily impacted by the accounting policy whereby expenses from the provision of universal services were recorded as operating expenses, while the reimbursement of losses incurred due to the provision of universal telecom services were recorded as other revenue.
2OIBDA is calculated as operating profit and depreciation of fixed assets.
3OIBDA margin is calculated as OIBDA/revenue.
4EBITDA is calculated as profit before tax, interest payable, depreciation of fixed assets, and lease payment expenses adjusted for interest receivable.
5EBITDA margin is calculated as EBITDA/revenue.
Overview of revenue and expenses in 9M09
Revenue(earnings) breakdown, RUR, mln
|
|
9M09 |
9M08 |
Change, % |
|
Intrazonal telephony |
3,396.2 |
3,605.4 |
-5.8 |
|
Local voice telephony |
8,528.8 |
8,210.2 |
+3.9 |
|
Mobile communication, wire broadcasting, radio broadcasting, television |
554.7 |
515.6 |
+7.6 |
|
Mobile (cellular) telephony |
254.8 |
287.7 |
-11.4 |
|
Telegraphic, datacom and telematic services |
4,385.4 |
3,677.8 |
+19.2 |
|
incl. datacom and Internet access |
4,284.7 |
3,569.0 |
+20.1 |
|
Interconnect and traffic transit |
1,948.3 |
2,200.1 |
-11.4 |
|
Other operating services |
0.78 |
0.77 |
+0.9 |
|
Outsourcing and agency |
378.5 |
409.2 |
-7.5 |
|
Non-operatingrevenue |
621.6 |
552.6 |
+12.5 |
Positive revenue trends are attributable to:
The key driver for value-added services is the rise in broadband Internet revenue, mainly household users. In 2009 VolgaTelecom has conducted aggressive market campaigns aimed at boosting its subscriber base. Specifically, completely unlimited tariff plans have been introduced in a number of areas. The company managed to achieve growth in the number of connections (both for households and corporate clients) as a result of measures taken by VolgaTelecom against the backdrop of rising competition and an aggressive dumping policy by competitors. The broadband Internet subscriber base increased y-o-y by 43.2% in the third quarter of 2009 to 928,000 ports.
Local voice revenue increased by 3.9% compared with the year-earlier period and stood at RUR 8,528.8 mln. The main growth in revenue from local voice is attributable to tariff indexation as of March 1, 2009. This factor, as well as the marketing promotions offering discount Internet connectivity, helped local voice revenue trends remain positive amid saturation of the traditional telephony market and rising electricity prices.
A decline in revenue form intazonal traffic compared to the previous year is due to mobile substitution and a decrease in the consumption of services caused by the global economic downturn. Specifically, compared to the same period in 2008 there was a contraction in the number of outgoing intrazonal F2F and F2M calls both in the households and corporate segments (down by an average 5.4%).
Expense breakdown, RUR, mln
|
|
9M09 |
9M08 |
Change, % |
|
Depreciation of fixed assets |
3,647.5 |
3,230.3 |
+12.9 |
|
Payrolls |
4,616.2 |
4,671.9 |
-1.2 |
|
Social insurance contributions |
1,092.3 |
1,092.5 |
0.0 |
|
Materials |
1,366.7 |
1,408.6 |
-3.0 |
|
Expenses payable to telecom operators |
1,623.9 |
1,797.3 |
-9.6 |