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MTS announces financial results for the 4Q and full year 2008

Posted March 27th, 2009 by Anton Veremyanin
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Source: Mobile Content Russia.

MTS (Mobile TeleSystems) announces its consolidated US GAAP financial results for the three months (unaudited) and full year ended December 31, 2008.

Consolidated revenues up 24.2% y-o-y to $10,245 million due to subscriber growth and increasing contribution from voice and data usage Consolidated OIBDA up 21.7% to $5,140 million y-o-y with 50.2% OIBDA margin due to continued revenue growth and cost control Consolidated net income down 6.8% y-o-y to $1,930 million due to non-cash FOREX loss through US GAAP translation of US dollar-denominated debt Free cash-flow positive with $2,148 million for the full year 2008 due to the overall revenue growth of the Group

Key Corporate and Industry Highlights:

  • Redemption of the $400 million Eurobond issued in 2003 in January 2008
  • Mr. Mikhail Shamolin named as the new President and CEO of MTS in May 2008
  • Launch of 3G networks in Russia in May 2008
  • Placement of three bonds worth RUB 30 billion in 2008
  • Launch of iPhone 3Gв„ў sales in October 2008
  • Expansion of Board from seven to nine members with three independent in October 2008
  • Signing of a non-equity strategic partnership agreement with Vodafone in October 2008
  • Launch of 3G network in Uzbekistan in December 2008
  • Completion of dividend payment for the FY 2007 in December 2008
  • Agreement signed to bring MTS brand to India through Sistema Shyam TeleServices in December 2008
  • MTS first Russian company named as BRANDZв„ў Top 100 Most Powerful Brands by Millwood Brown and Financial Times

    More detailed information you may find by downloading the MTS report (PDF).

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