Mobile TeleSystems (MTS) reported consolidated revenues for full-year 2008 of USD10.25 billion, up 24.2% year-on-year. Net income was down 6.8% to USD1.93 billion, while operating income was up 17.2% to USD3.2 billion. OIBDA was USD5.14 billion, with a margin of 50.2%. The company had 95.66 million subscribers across its operations at year-end.
MTS reported a 4% year-on-year increase in fourth quarter 2008 revenues to USD2.41 billion. Net income dropped 68.4% compared to the previous year to USD145.5 million due to losses on foreign exchange. OIBDA increased 3.1% to USD1.16 billion, giving a 48.1% OIBDA margin.
In Russia revenues rose 18.9% in the three months to 31 December 2008 to RUB50.52 billion (USD1.44 billion), while OIBDA was RUB24.39 billion. The operator spent USD1.4 billion on CAPEX in 2008. MTS Russia claimed 64.63 million customers as of 31 December 2008, 87% of which were pre-paid. Average revenue per user (ARPU) in the quarter was RUB258.28 and churn stood at 6.4%.