Rostelecom reports year end results

1 Apr 2010

Rostelecom has announced its full year 2009 results which show a 3.1% decrease in revenue to RUB61.224 billion (USD2.08 billion), mainly as a result of a reduction in revenues from a number of traditional segments. Domestic long-distance (DLD) traffic for the twelve months ended 31 December 2009 decreased 10.2% year-on-year to 9.186 billion minutes while DLD and interconnection revenues slipped 11.8% to RUB26.063 billion. Outgoing international long-distance traffic declined by 13.5% to 1.752 billion minutes. International long-distance revenues from Russian operators and end-customers amounted to RUB11.374 billion, representing a decrease of 5.9% compared to the previous year. The company attributed the decreases to the weakened global macro-economic environment, the increasing competition in the Russian long-distance market as well as the continued migration of long-distance end-customer traffic from fixed line to mobile networks. Operating income before depreciation and amortisation (OIBDA) amounted to RUB12.089 billion, a year-on-year decrease of 15.5%. OIBDA margin amounted to 19.7% compared to 22.6% in the previous year. Full year 2009 operating profit decreased by 25.9% year-on-year to RUB7.513 billion, while net profit slipped by 27.9% to RUB5,101.6 million.

Russia, Rostelecom