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Svyazinvest

April 1, 2005

OAO VolgaTelecom releases 2004 financial results

Nizhniy Novgorod, April, 2005: Financial results posted by OAO VolgaTelecom has proved that the company hit all the targets. Generated revenue rose by 26% to reach Rub18.605 mn. Revenues from provision of telephone services went up 27,6% to Rub 18.171 mn against 2003 figures. The largest contribution in the revenue breakdown was that from the local telephone services (43,1%), local LD and ILD services (37,6). Revenues from VAS accounted for 5,2% of the total value of telecom services.

 

2004 operating costs grew by 126,5% and the total costs amounted to Rub 13.264%. The cost of Rub 1 of income was 71%.

 

Sales profit climbed 27,5% to Rub 5.341 mn, balance profit 4,9% to Rub 2.990 mn. The EBITDA margin grew by 16% to Rub 5.507.5 mn. 2004 profit margin on EBITDA reached 29,9%. Net profit of OAO VolgaTelecom reached a total of Rub 2.056 mn (representing an increase of 102,7%). Sales profit margin went up 40,3%, balance profit margin 22,5%, net profit margin 15,5%.

 

Number of lines per employee for the reporting period totaled 88, an increase of 13%. Revenue per employee rose by 33% to amount to Rub 379,000. Costs per employee reached Rub 270.000, up 26,5%. Revenue per line stood at Rub 4.314 (up 117,7%).

 

The volume of OAO VolgaTelecom 2004 capex totaled Rub 6.964.5 mn (154,3% higher than in 2003). A major part of investments was allocated to upgrade the local telephone facilities (63,7%). A share of investments in local LD and ILD telephone services amounted to 10,9%, VAS 7,2%. As a result, over the last year 539.600 lines were put into operation (a 124,5% increase on 2003). Net additions stood at 258,300 telephones. The local network installed capacity was 4,7 mn lines.

 

 

 

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