Press release
North-West Telecom hereby announces the results of its financial and operating activities for the first nine months of 2009 in accordance with International Financial Reporting Standards (IFRS).
The company’s consolidated interim financial statement consists of its unaudited balance sheet, the profit and loss report, the aggregate income report, the cash flow report, the report on changes in capital, and also notations to the financial statement. Since NWT began to publish quarterly reports in accordance with IFRS only in 2009, this statement cannot be compared with the same period last year.
In accordance with IFRS, revenue stood at RUR 19,650 mln in 9M09. In addition, operating expenses reached RUR 18,418 mln. Other operating revenue stood at RUR 3,128 mln during the first nine months of 2009.
As a result, NWT’s operating profit amounted to RUR 4,360 mln in the first nine months of 2009.
More than 50% of North-West Telecom’s revenue falls to revenue generated from local voice telephony, which totaled RUR 9,994 mln in the first nine months of 2009. Revenue derived from datacom and telematic services (Internet) reached RUR 4,024 mln, which accounts for 20.5% of the Company’s total revenue.
EBITDA* amounted to RUR 8,862 mln in the first nine months of 2009, while EBITDA margin came in at 45.1%.
OIBDA** reached RUR 9,409 mln in the first nine months of 2009, while OIBDA margin totaled 47.9%.
North-West Telecom report net profit of RUR 2,215 mln in the first nine months of 2009, while net profit margin came in at 11.3%.
North-West Telecom’s 9M09 consolidated financial statement, drafted in accordance with IFRS and the notations thereto are posted on NWT’s corporate website in the section entitled “Economics and finances” (in Russian).
* EBITDA is calculated using the following formula: Profit (loss) before taxation from ongoing business activity during the reporting period” + depreciation and amortization + financial expenses – interest expenses on financial assets – interest revenue on pension plan assets.
** OIBDA is calculated using the following formula: Operating profit + depreciation and amortization.
