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6-month IFRS net profit of Rostelecom down 30%

IFRS net profit of OJSC Rostelecom for H1 2014 decreased by 30% to RUB 10.176 billion from RUB 14.42 billion the year before, the company informed.

Revenue increased by 3% to RUB 145.243 billion from RUB 141.564 billion. OIBDA decreased by 4% to RUB 51.349 billion from RUB 53.555 billion, operating profit by 10% to RUB 21.583 billion from RUB 23.979 billion.

IFRS net profit of Rostelecom for the second quarter of 2014 alone decreased by 31% year-on-year to RUB 6.129 billion from RUB 8.878 billion, OIBDA by 5% to RUB 26.17 billion from RUB 27.497 billion, operating profit by 20% to RUB 10.906 billion from RUB 13.569 billion. Revenue increased by 2% to RUB 72.63 billion from RUB 70.985 billion.

OJSC Rostelecom (tax number: 7707049388) is the national long-distance communication operator leading in the amount of long-distance domestic and international data traffic and operating the land-line network of television and broadcasting channels. In April 2011, Rostelecom absorbed interregional communication companies Centertelecom, Sibirtelecom, Dalsvyaz, Uralsvyazinform, VolgaTelecom, SZT, YTK and Dagsvyazinform. Total length of Rostelecom's backbone network all over Russia is about 500,000 km. The company's infrastructure reaches 43 million Russian households.

The company's authorized capital is RUB 7.965 million represented by 2,943,258,269 common and 242,831,469 preferred shares at par value of RUB 0.0025.

Rostelecom's major shareholder is the government. Rostelecom's securities are traded on the MICEX Stock Exchange in Russia as well as in the electronic OTC trading system OTCQX in the USA.

IFRS net profit of Rostelecom for Q1 2014 grew by 8% to RUB 6.9 billion from RUB 6.413 billion the year before. Revenue was RUB 80.406 billion increasing by 1% from RUB 79.559 billion. Revenue from continuing operations (fixed-line business) grew by 4% to RUB 73.2 billion. OIBDA increased by 10% year-on-year to RUB 26.5 billion from RUB 29.4 billion. OIBDA margin was 33% compared with 37% in the first quarter of 2013.

According to the DataCapital information retrieval system, RAS net profit of OJSC Rostelecom for H1 2014 grew by 17.6% to RUB 17.246 billion from RUB 14.667 billion the year before. Revenue increased by 5.3% to RUB 143.213 billion from RUB 135.977 billion, GP decreased by 17.3% to RUB 21.759 billion from RUB 26.33 billion. Pre-tax profit grew by 4% to RUB 19.685 billion from RUB 18.924 billion.

"AK&M", 22.08.2014


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