Golden year

16 Mar 2007

Russian wireline operator and ISP Golden Telecom has reported a 28% rise in full year revenues for 2006, increasing from USD667.4 million in 2005 to USD854.6 million last year. EBITDA was up 14% at USD227.4 million, while net income grew 12% to USD85.5 million. The firm’s CEO, Jean-Pierre Vandromme, commented: ‘We continue to grow in our core market – Moscow, where our revenues increased by 41%. Both in Moscow and in the regions our revenues are growing more than twice the market rate.’ By the end of December Golden Telecom had more than 255,000 corporate customers, 400,000 dial-up users and 33,000 xDSL subscribers.

Meanwhile, the firm says its city-wide wireless LAN hotspot network in Moscow now has more than 6,000 users. The network, which incorporates 5,000 access points and covers 800,000 households, was launched last month. Golden Telecom is targeting between 300,000 and 400,000 users on the network by 2010.