North-Western Telecom profit soars

6 Jun 2008

Russian regional fixed line operator North-Western Telecom (NWT) said its full-year 2007 net profit reached RUB10.11 billion (USD424.8 million), up from RUB1.27 billion in 2006. This was mainly due to the sale of its 15% stake in holding company Telecominvest with the pre-tax profit of RUB7.3 billion. NWT’s EBITDA rose by 180.8% to RUB18.63 billion, and the EBITDA margin increased by 44.8 percentage points to stand at 76.9%. Revenues rose 17% to RUB24.2 billion, with RUB12.6 billion being generated from local phone calls.