Sibirtelecom posts 1H net profit of RUB2.44 billion

31 Aug 2010

Russian telco Sibirtelecom has reported a net profit of RUB2.44 billion (USD79.6 million) for the six months ended 30 June 2010. This figure represents an increase of 187.2% from RUB851 million posted in 1H09. According to the company’s press statement, the upturn in net profit was the result of an improved operating profit, which grew 29.5% to RUB4.32 billion, compared to RUB3.33 billion a year earlier, as well as lower interest expenses and the positive effects of foreign exchange losses, which fell to RUB18 million (RUB428 million in 1H 2009). EBITDA grew 16.8% year-on-year to RUB8.1 billion (from RUB7.4 billion), whilst revenues increased 2.4% to RUB19.46 billion (from RUB19.01 billion).

In operational terms, fixed line revenues generated RUB6.25 billion, a 6.8% rise compared to RUB5.85 billion generated during 1H2009. Wireless revenues increased 0.1% to RUB4.84 billion, whilst internet revenues increased 19.6% to RUB3.27 billion. The company also attributed its improved consolidated revenues to increasing broadband subscriber numbers, which reached 692,000 at 30 June 2010.

Russia, Sibirtelecom