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MTS' revenues up 29% to $8,252 million

Posted April 16th, 2008 by Anton Veremyanin
in

MTS (Mobile TeleSystems OJSC («MTS» - NYSE: MBT)), the largest mobile operator in Russia and CIS, announced its consolidated US GAAP financial results for the three months (unaudited) and full year ended December 31, 2007.

Key Financial Highlights of FY 2007

- Consolidated revenues up 29% y-o-y to $8,252 million
- Consolidated OIBDA up 31% to $4,223 million y-o-y with 51.2% OIBDA margin
- Consolidated net income up 93% year on year to $2,072 million
- Free cash-flow generation of $964 million

Key Corporate and Industry Highlights

  • Allocation of 3G licenses in Russia, Uzbekistan and Armenia
  • Countrywide rebranding of operations in Ukraine
  • Launch of a CDMA network in Ukraine
  • Entry into Armenia through acquisition of leading operator, K-Telecom
  • Launch of Blackberry enterprise service in Ukraine and Russia (2008)
  • Payment of $747 million dividend and adoption of MTS Dividend Policy
  • Acquisition of Bashcell, a small Russian regional operator
  • Consolidation of ownership stake in Uzdunrobita (MTS Uzbekistan)
  • Adoption of employee remuneration program for over 420 managers

    More detailed information in MTS earnings report.

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