News
1H 2008 Results under IFRS
03.10.2008
Ekaterinburg – October 03, 2008 – Uralsvyazinform (RTS and MICEX: URSI/URSIP, ADR:
UVYZY/UVYPY) – the leading carrier of fixed-line and mobile services in the Urals region
presents interim non-audited consolidated financial statements for the 1st half year of
2008 in compliance with International Accounting Standards (IAS).
-
Revenue growth amounted to 15.2% compared to the 1st half year of 2007, the increase
was accomplished, for and foremost, through:
-
Revenue gains in mobile services;
-
Revenue gains in new services (network services of data transmitting, telematic
services as well (Internet access)).
-
Revenue growth in core segments totaled:
-
OIBDA increased by 24.2% compared to the level of the 1st half year of 2007.
According to the results of the 1st half year of 2008 OIBDA margin equaled 35.9% (+2,6
p.), operating margin amounting to 18.1% (-0.2 p.p.).
-
Net profit rose by 39.0% and made up US$ 70.8 mln.
-
On September 01, 2008 total subscriber number totaled 9.2 mln, including 5.5 mln
in GSM.
-
Since September 01, 2008 the tariffs on local fixed-line connection for citizens–
users of fixed-line services that chose the unlimited tariff, providing calculation of
the time of local fixed-line connections is feasible, have rosen by 20% in average.
Financial highlights, US$ mln.*:
| Financial |
1H 2008 |
1H 2007 |
Change, % |
| Revenues, US$ mln* |
837.6 |
727.1 |
+15.2% |
| OIBDA, US$ mln |
300.6 |
242.0 |
+24.2% |
| OIBDA margin |
35.9% |
33.3% |
- |
| Operating profit, US$ mln |
151.8 |
133.1 |
+14.0% |
| Operating margin |
18.1% |
18.3% |
- |
| Profit before income tax, US$ mln |
97.1 |
95.2 |
+1.9% |
| Net profit, US$ mln |
70.8 |
50.9 |
+39.0% |
| Net margin |
8.4% |
7.0% |
- |
| EPS |
0.0018 |
0.0013 |
+38.9% |
* Here and henceforth currency conversions are based on average exchange rates: 1H
2008 – RUR 23.9, 1H 2007 – RUR 26.1
Balance Sheet, RUR mln
| Item |
As of 30/06/2008 |
As of 30/06/2007 |
| Non-current assets |
53,558 |
52,289 |
| Current assets, including |
6,058 |
5,077 |
| Cash and cash equivalents |
538 |
705 |
| Assets in disposal group classified as held to sell |
- |
10 |
TOTAL ASSETS |
59,616 |
57,376 |
| Shareholder’s Equity |
22,111 |
21,527 |
| Liabilities, including |
37,505 |
35,849 |
| Long-term liabilities |
20,119 |
20,021 |
| Short-term liabilities |
17,386 |
15,824 |
| Liabilities to be sold |
- |
4 |
| TOTAL SHAREHOLDER’S EQUITY AND LIABILITIES |
59,616 |
57,376 |
Operational results
| Item |
1H 2008 |
1H 2007 |
Change, % |
| Subscriber number: |
|
|
|
| Fixed-line, thous., including |
3,707.3 |
3,680.4 |
+0.7% |
| Residents |
3,157.8 |
3,152.6 |
+0.2% |
| Corporates |
549.5 |
527.7 |
+4.1% |
| GSM Mobile, thous.* |
5,382.0 |
4,618.8 |
+16.5% |
| Broadband, thous. |
392.2 |
192.4 |
+103.8% |
* Reference: on 01.09.2008 users number of cellular communications amounted to
5,519.5 thousand
Please download full PDF version to continue with 
Financial Overview 1H
2007.
To view complete accounting statements of Uralsvyazinform as of 1H 2008 under IFRS click here
Related Event
1H 2008 Results under IFRS Conference Call & Webcast
For additional information, please contact IR department on tel. +7 343 379 1219,
+7 343 379 1859 or e-mail:
investor@gd.usi.ru.
The most recent company information is also available from this website and www.skrin.ru
(complex disclosure information system) or URSI_RU page in Bloomberg system and URSI.RTS
page in Reuters system.
