Sibirtelecom’s IFRS 2007 net profit up 180%

23 Jun 2008

Russian regional telco Sibirtelecom, part of national telecoms group Svyazinvest, on Friday said its full-year net profit under IFRS reporting standards rose by 180% to RUB2.7 billion (USD114.5 million) in 2007, due mainly to lower taxes and subscriber growth. The Siberian full-service operator’s annual revenues grew by 17% to RUB35.2 billion (including 32.9% from local fixed line voice calls, 25.8% from mobile services and data/internet services accounting for 8.7%). Sales were helped by new additions of fixed line subscribers, the development of broadband internet services and higher local call tariffs. OIBDA rose 60.4% to RUB11.8 billion, with the OIBDA margin rising to 33.6% compared to 24.5% in 2006. whilst EBITDA climbed 59% to RUB12 billion, widening the EBITDA margin to 33.9% from 24.9%.

Russia, Sibirtelecom, Svyazinvest