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Articles & publications
25.06.2010
CenterTelecom expects to raise revenue at least 7% in 2010Interfax
CenterTelecom (ESMO) intends in 2010 to raise revenue at least 7%. This news was announced today by the company’s general Director Vaagn Martirosyan in a report delivered at the annual general shareholders meeting. The operator’s revenue increased by 8.06% to RUR 36.4 bln in 2009.
According to Mr. Martirosyan, the company’s revenue went up 10.7% in January-May 2010 compared to the same period in 2009.
The scope of CenterTelecom’s capital expenditure is expected to reach RUR 7 bln in 2010, which is 60% more compared to RUR 4.4 bln in 2009.
CenterTelecom also intends to downsize its debt obligations to RUR 15.594 mln in 2010, compared with RUR 21.15 bln as of year-end 2009. In 2009 the proportion of long-term debt in the company’s total liabilities stood at 66%, and the plan is to reach 39% by the end of the 2010.
According to Mr. Martirosyan, the company’s debt/EBITDA ratio should amount to 0.95x in 2010 compared to 1.28x as of year-end 2009.
In accordance with the company’s headcount reduction plan, the average number of employees on record at the end of 2009 stood at 29,000, compared to 32,000 in 2008. In addition, the average salary in 2009 increased by 29.9% to RUR 21,700 per month. By the end of 2009 the average number of employees on record should be 28,000, while the average monthly salary should be RUR 25,000.
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