The OJSC North-West Telecom summarized the preliminary results of activity for 2004* according to the Russian Account Standard, which indicate the improvement of the major financial and economic indices of the company. 

The consolidated proceeds comprised 17.8 billion roubles having increased by 18% as compared with 2003. The EBITDA reached RUR 3.9 billion having increased by 22%. The EBITDA margin increased to 21.9% as compared to 21.2% in 2003. Net profit increased by 13%, exceeding RUR 1.3 billion.

In 2004, the volume of investments of the “NWT” comprised RUR 4.7 billion (RUR 3.6 billion in 2003), 412 thousand numbers put into operation, including 196 thousand new numbers and 216 thousand numbers for replacement. The level of network digitalization for the end of 2004 comprised 48%.

Due to improvement of the major financial and economical indices, it is planned to direct RUR 338 million or almost 25% of net profit of the company for payment of dividends to the stockholders of the Company based on the results of 2004. According to the results of 2003, RUR 255 million or 21% of net profit were directed for payment of dividends.

 * All data are consolidated and include subsidiaries “Lensvyaz’” and Svyaz of Komi Republic” affiliated with the OJSC “NWT” starting from 1 October 2004