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US GAAP net profit of MTS for Q2 2014 down 27.6%

Consolidated US GAAP net income of MTS Group in the second quarter of 2014 decreased by 27.6% year-on-year to RUB 21.1 billion from RUB 29.141 billion the year before, the company informed.

Consolidated revenues denominated in Russian rubles increased in the second quarter of 2014 by 1.3% to RUB 99 billion from RUB 97.5 billion in the second quarter of 2013, by 1.4% year-on-year. Consolidated OIBDA of MTS Group net of one-off effect from the settlement over Bitel LLC decreased by 0.6% year-on-year, increased by 4.3% quarter-on-quarter to RUB 43.2 billion (RUB 44.4 billion in the second quarter of 2013). OIBDA margin across MTS Group net of one-off effect from the settlement over Bitel LLC in the second quarter of 2014 decreased by 0.9 p.p. year-on-year, rose by 1.2 p.p. quarter-on-quarter to 43.7%.

Mobile TeleSystems OJSC (MTS, tax number: 7740000076) and its subsidiaries provide services to about 100 million subscribers in Russia, Armenia, Belarus, Ukraine, and Turkmenistan. The company also provides fixed-line telephony and cable television services in all federal districts of Russia and in Ukraine.

The company's authorized capital is RUB 206.641 million, 2,066,413,562 common shares at par value of RUB 0.1 each are issued. Sistema JSFC owns a 50.8% stake in the company, 49.2% of the shares being in free float. 37.62% of MTS shares are traded on the NYSE as Level 3 ADRs.

US GAAP net profit of the MTS group for 2013 increased 2.7 times to RUB 79.84 billion from RUB 29.5 billion the year before. Consolidated revenue increased by 5% to RUB 398.4 billion from RUB 378.2 billion. Consolidated OIBDA grew by 8% to RUB 175 billion. US GAAP net profit of MTS for Q4 2013 grew by 16% to RUB 19.8 billion from RUB 17 billion the year before, consolidated revenue by 6% to RUB 104.8 billion. Consolidated OIBDA increased by 11% to RUB 45 billion, OIBDA margin by 1.8 p.p. to 42.9%.

According to the DataCapital information retrieval system, RAS net profit of Mobile TeleSystems OJSC for H1 2014 grew by 27.85% to RUB 40.996 billion from RUB 32.064 billion the year before. Revenue increased by 8% to RUB 149.275 billion from RUB 138.012 billion, GP by 11% to RUB 73.424 billion from RUB 66.023 billion, sales profit by 7% to RUB 36.22 billion from RUB 33.711 billion, pre-tax profit by 29.29% to RUB 48.221 billion from RUB 37.296 billion.

"AK&M", 22.08.2014


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