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UTK

December 18, 2003

"UTK" PJSC declares its interim performance results for the year 2003 according to Russian Accounting Standards

According to preliminary data "UTK" PJSC will generate a total revenue of RUR 13.35 bln for 2003 which is up 26.7% compared to the same period last year.

In addition revenues from sale of telecom services will reach RUR 13.12 bln (+30,7% compared to 2002) including:

  • revenues from urban telephony - RUR 4.73 bln (+45,1%),
  • revenues from rural telephony - RUR 1.03 bln (+49,4%),
  • revenues from domestic long-distance telephony - RUR 5.08 bln (+19,1%),
  • revenues from international long-distance telephony - RUR 0.97 bln (-3,9%),

Operating costs will stand at RUR 9.84 billion (+25,7%), their structure will be the following:

  • wages and salaries - 33,3% (31,8% in 2002),
  • depreciation charges - 10,7% (9,8%),
  • material costs - 8,9% (11,3%),
  • payments to Rostelecom - 13,7% (14,6%),
  • taxes - 11,1% (12,8%),
  • other expenses - 22,3% (19,7%).

According to preliminary results EBITDA* parameter will stand at RUR 4.56 billion (+31,5%), profit from core activity will determine RUR 3.5 billion (+29,9%). EBITDA margin rate will reach 34.2% (+1,2%).

Pre-tax profit will be down 7.3% standing at RUR 2.13 billion. But excluding the sum of gains in financial assets (securities) for 2002 pre-tax profit for 2003 will post an increase of 54.8% on the previous year in comparable conditions.

2003 net profit is expected to increase by 7,1% reaching RUR 1.67 billion. Growth rate of net profit in comparable conditions will be 98,1%.

According to 2003 performance results number of basic telephones will rise by 279.6 thousand sets (up 68,5% over 2002) including 225.6 thousand sets - in urban telephone network and 54.0 thousand sets - in rural telephone network. Thus, as at January 1, 2004 "UTK" PJSC will operate 3.57 million basic telephone sets including 2.72 million - in urban TN and 0.85 million sets - in rural TN.

According to preliminary results 2003 capex will amount to RUR 8.3 billion (+132,5 %), fixed assets put into service will stand at RUR 7.2 billion (+132,3%). Automatic telephone exchanges with total installed capacity of 527 thousand lines (+40,8%) are expected to be put into operation.

Average number of the Company's employees on pay-roll is decreasing in conformity to plan; as at January 1, 2004 it will be 41 055 people (a 7.3%-decrease on the end of 2002).

*EBITDA parameter is calculated as a sum of profit from core activity and depreciation charges.

 

 

 

 

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