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Articles & publications
22.03.2010
NWT expects 4% decline in FY 2009 RAS net incomeInterfax
North-West Telecom (RTS: SPTL) (NWT, North-West Telecom) expects to generate full-year 2009 RAS profit equal to RUR 3.477 bln, the company said in a statement.
The operator’s net profit amounted to RUR 3.622 bln, which means that this metric could shirk by 4%. In addition, FY09 revenue, according to NWT’s guidance, should increase by 7.3% to RUR 26.292 bln, while EBITDA should rise 13.2% to RUR 10.823.
Furthermore, the company’s net debt stood at RUR 16.401 as of year-end 2009.
The statement went on to say that NWT, based on preliminary data, overshot its target indicators, raised business efficiency, achieved strong results in cost-cutting, and amid unstable economic conditions managed to strengthen its market positions in the most profitable market segments (telephony, broadband Internet), reached a net profit level which is considerably higher than analysts’ expectations, achieved deleveraging and has sufficient monetary resources to pay off its existing liabilities.
North-West Telecom is the incumbent fixed-line telecom operator in the western region of Russia. NWT’s main shareholder is Svyazinvest, which owns a 39.528% in the company’s charter capital (50.76% of voting shares).
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