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Rostelecom  |
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| Compilation Date: | 16 May 08 |
Company Overview
 General Info | |
| Full Company Name | JSC "Long-Distance & International Telecommunications Rostelecom" |
| Industrial Group | Telecommunications |
| Number of Employees | 21,974 |
| Registration Date | 23 Sep 93 |
| Registered Address | 15, Dostoevskogo St., Sankt-Peterburg, 191002 |
| Main Office | 14, 1 Tverskaya-Yamskaya St., Moscow, 125047 |
| Telephone / Fax | (499) 972-8283, 973-9920 / (499) 972-8222 |
| e-mail | info@rostelecom.ru rostelecom@rostelecom.ru |
| Internet Home Page | www.rt.ru |
| Registrar | JSC "United Registration Company" |
| Auditor | Ernst &Young |
| Financial Adviser | n. a. |
| Legal Adviser | n. a. |
|
| Corporate Management |
| Chairman of the Board | Alexandr Kiselev | | General Director | Konstantin Solodukhin |
| Price Highlights | |
| Price per Common Share, USD | 11.586833 |
| YTD Price Change, % | -1.2 |
| P/E Ratio | 35.9791 |
| Market Capitalization, USD | 8,446,413,193 |
| Common Shares in Free Float, % | 40.00 |
| Operations Summary | |
Rostelecom is the national provider of domestic long-distance and international telecommunications in Russia. The company owns and operates the primary backbone network, including both land and satellite components. The network has a total length of more than 200,000 kilometers, of which 20% are modern digital transmission lines. The core of the network is composed of three fiber optic lines: Moscow to Novorossiysk, Moscow to St. Petersburg, and Moscow to Khabarovsk. The lines use sync digital hierarchy (SDH) equipment and have a carrying capacity of 2.5Gbits per second. The company has nine branches, including seven regional branches and two branches in Moscow. Traditional service consumers are federal structures and departments, TV and radio broadcasters, domestic and foreign operators, and Internet-providing companies. To provide telecom services in sparsely populated and remote regions of the country, such as Siberia and the Far East, the company is developing a satellite communication system using the LMI-1 satellite. Rostelecom’s international long distance segment links Russia with 211 countries, including direct international lines of communication with 100 operators in 72 countries. According to the new strategy, developed by Arthur Andersen in the beginning of 2001, Rostelecom will concentrate on wholesale data transmission services, including Internet traffic and transit services between Europe and Asia. In 2006, Rostelecom’s capital investments were RUR5.9 billion; in 2007 they amounted to RUR6.4 billion. In 2008 the company plans to invest into development RUR6.7 billion. |
Shares Information
| Charter Capital Structure |
| Type of Share | Shares Outstanding | Nominal Value |
|---|
| Common Share | 728,696,320 | 0.0025 RUR | | Preferred Share | 242,831,469 | 0.0025 RUR |
| Major Shareholders |
| Name | % of Voting Stock | % of Charter Capital |
|---|
| The National Depository Center | 33.69 | 41.93 | | Telecommunication Investment Joint-Stock Company (Svyazinvest) | 50.67 | 38.00 | | Closed JSC "Depository-Clearing Company" | 6.11 | 7.60 | | ING Bank | 7.73 | 5.91 |
| Equity Positions in Other Companies |
| Name | % of Charter Capital |
|---|
| Closed JSC "Moscow Centre of New Telecommunication Technologues" | 100.00 | | Closed JSC "Vestelcom" | 100.00 | | Telecomcenter Ltd. | 100.00 | | Close JSC "Zebra Telecom" | 99.99 | | Close JSC "Insurance Company "Kostars" | 86.67 | | Closed JSC "Globus-Telecom" | 74.58 | | Closed JSC "Inkom" | 54.38 | | Closed JSC "Globalstar - Space Telecommunication" | 51.00 | | TverTelecom Ltd. | 26.00 | | Closed JSC "Rustel" | 25.00 | | JSC "Svyazintek" | 19.00 | | Golden Telecom Inc. | 11.00 | | JSC "United Registration Company" | 6.40 |
| Dividends History |
| Period | Payment
per Share,
USD | Number
of Shares | Ex-Date | Payment
Date | Payout
Ratio, % | Dividend
Yield, % |
|---|
| 1994 / com | n. p. | 140,062,560 | - | - | - | - | | 1994 / pref | 0.109291 | 46,687,520 | 26 May 95 | 31 Dec 95 | n. a. | n. a. | | 1995 / com | n. p. | 700,312,800 | - | - | - | - | | 1995 / pref | 0.080464 | 233,437,600 | 30 Apr 96 | 31 Dec 96 | n. a. | n. a. | | 1996 / com | n. p. | 700,312,800 | - | - | - | - | | 1996 / pref | 0.079798 | 233,437,600 | 30 May 97 | 31 Dec 97 | 7.605341 | 0.041453 | | 1997 / com | 0.000004 | 700,312,800 | 08 May 98 | 31 Dec 98 | 0.000001 | 0.000001 | | 1997 / pref | 0.000028 | 233,437,600 | 08 May 98 | 31 Dec 98 | 0.000002 | 0.000012 | | 1998 / com | n. p. | 700,312,800 | - | - | - | - | | 1998 / pref | n. p. | 233,437,600 | - | - | - | - | | 1999 / com | 0.005842 | 700,276,141 | 05 May 00 | 31 Dec 00 | 3.558161 | 0.002077 | | 1999 / pref | 0.028739 | 233,358,300 | 05 May 00 | 31 Dec 00 | 5.833419 | 0.047898 | | 2000 / com | 0.005421 | 728,696,320 | 08 May 01 | 31 Dec 01 | neg | 0.006278 | | 2000 / pref | 0.014078 | 242,831,469 | 08 May 01 | 31 Dec 01 | neg | 0.041405 | | 2001 / com | 0.00672 | 728,696,320 | 12 Apr 02 | 31 Dec 02 | 3.698999 | 0.007701 | | 2001 / pref | 0.028807 | 242,831,469 | 12 Apr 02 | 31 Dec 02 | 5.284187 | 0.059703 | | 2002 / com | 0.018592 | 728,696,320 | 25 Apr 03 | 31 Dec 03 | 62.669748 | 0.015526 | | 2002 / pref | 0.043608 | 242,831,469 | 25 Apr 03 | 31 Dec 03 | 48.984149 | 0.056613 | | 2003 / com | 0.031417 | 728,696,320 | 10 May 04 | 15 Dec 04 | 132.232319 | 0.015332 | | 2003 / pref | 0.116393 | 242,831,469 | 10 May 04 | 15 Dec 04 | 163.249652 | 0.081806 | | 2004 / com | 0.050915 | 728,696,320 | 05 May 05 | 15 Dec 05 | 24.859416 | 0.028148 | | 2004 / pref | 0.103756 | 242,831,469 | 05 May 05 | 15 Dec 05 | 16.881712 | 0.072073 | | 2005 / com | 0.059454 | 728,696,320 | 04 May 06 | 15 Dec 06 | 125.343118 | 0.02652 | | 2005 / pref | 0.141537 | 242,831,469 | 04 May 06 | 15 Dec 06 | 99.436836 | 0.081021 | | 2006 / com | 0.06055 | 728,696,320 | 26 Apr 07 | 15 Dec 07 | 82.32097 | 0.0082 | | 2006 / pref | 0.121137 | 242,831,469 | 26 Apr 07 | 15 Dec 07 | 54.882133 | 0.035168 |
Stock Market
| Instruments on Exchanges |
| Type of Instrument | Ticker | ISIN | Market |
|---|
| Rostelecom | RTKM | RU0008943394 | MICEX | | Rostelecom | RTKM | RU0008943394 | RTS Classic | | Rostelecom | RTKMG | RU0008943394 | RTS T+0 | | Rostelecom ADR | RTL | US7785291078 | Berlin Stock Ex | | Rostelecom ADR | RTL | US7785291078 | Frankfurt SE | | Rostelecom ADR | RKMD | US7785291078 | London SE | | Rostelecom ADR | ROS | US7785291078 | NYSE | | Rostelecom ADR | RTL | US7785291078 | XETRA | | Rostelecom pref | RTKMP | RU0009046700 | MICEX | | Rostelecom pref | RTKMP | RU0009046700 | RTS Classic | | Rostelecom pref | RTKMPG | RU0009046700 | RTS T+0 |
| Price Chart |
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| Participation in DR Programs |
| Level | Effective
Date | Underlying
Share Ratio | CUSIP | Depositary Bank |
|---|
| Level 2 ADR | 12 Feb 98 | 1: 6 | 778529107 | J. P. Morgan |
| Weightings in Indices |
| Name | Weight | Inclusion Date | Notes |
|---|
| MT-RusIndex | 0.66 | 01 Sep 97 | | | RusIndex 100 | 0.61 | 01 Sep 97 | | | RusIndex Services | 3.45 | 10 Feb 99 | | | RusIndex Telecommunications | 9.60 | 01 Sep 97 | |
Fixed Income Instruments
| Issue Parameters |
Issue #/
Tranche # | Registration
Number | Registration
Date | Period | Par
Value,
RUR | Issue
Volume,
RUR thnd | Number
of
Coupons | Coupon
Period | Guarantee |
|---|
| No bonds issued. |
| Coupons |
Issue #/
Tranche # | Coupon # | Start
Coupon Period | End
Coupon Period | Coupon, % |
|---|
| No bonds issued. |
| Primary Market |
Issue #/
Tranche # | Start
Placement
Date | End
Placement
Date | Placement
Price, % | Volume
Placed,
RUR thnd | Maturity
date | Offer
Date | Offer
price, % | Status | Issue
Placement
Registration
Date |
|---|
| No bonds issued. |
Key Financial Characteristics
| Balance Sheet |
| | 31 Dec 05 | 31 Dec 06 | 30 Sep 07 | 31 Dec 05 | 31 Dec 06 | 30 Sep 07 |
|---|
| | RUR mn | RUR mn | RUR mn | USD mn | USD mn | USD mn |
| RUR/USD Exchange rate | 28.79 | 26.35 | 24.95 |
| ASSETS, of which | 65,317 | 68,498 | 68,277.5 | 2,268.46 | 2,599.5 | 2,736.56 |
|---|
| Fixed Assets and Other Non-current Assets, of which | 44,315 | 48,110 | 43,965.8 | 1,539.06 | 1,825.77 | 1,762.15 |
|---|
| | Fixed Assets | 40,628 | 39,186 | 21,142.2 | 1,411.01 | 1,487.11 | 847.38 |
| | Intangible Assets | 0 | 2,795 | 0 | 0 | 106.07 | 0 |
| | Other Assets | 3,687 | 6,129 | 22,823.6 | 128.05 | 232.6 | 914.77 |
| Current Assets, of which | 21,002 | 20,388 | 24,311.7 | 729.4 | 773.72 | 974.41 |
|---|
| | Inventories | 761 | 564 | 516.8 | 26.43 | 21.4 | 20.71 |
| | Accounts Receivable | 5,232 | 8,821 | 11,306.9 | 181.71 | 334.76 | 453.18 |
| | Cash | 2,398 | 2,353 | 4,669.9 | 83.28 | 89.3 | 187.17 |
| | Other Current Assets | 12,611 | 8,650 | 7,818.1 | 437.98 | 328.27 | 313.35 |
| OWNER'S EQUITY, of which | 49,697 | 50,945 | 51,089.7 | 1,725.98 | 1,933.36 | 2,047.68 |
|---|
| | Charter Capital | 100 | 100 | 0 | 3.47 | 3.79 | 0 |
| | Reserves | 0 | 25 | 51,089.7 | 0 | 0.95 | 2,047.68 |
| | Retained Earnings | 49,597 | 50,820 | 0 | 1,722.5 | 1,928.62 | 0 |
| LIABILITIES, of which | 15,620 | 17,553 | 17,187.8 | 542.48 | 666.14 | 688.89 |
|---|
| | Long-Term Debt | 3,232 | 298 | 0 | 112.25 | 11.31 | 0 |
| | Short-Term Debt | 4 | 175 | 0 | 0.14 | 6.64 | 0 |
| | Accounts Payable | 5,785 | 9,090 | 0 | 200.91 | 344.97 | 0 |
| | Other Liabilities | 6,599 | 7,990 | 17,187.8 | 229.18 | 303.22 | 688.89 |
| Financial data standard | IAS | IAS | IAS | IAS | IAS | IAS |
| Audited | Audited | Unaudited | Audited | Audited | Unaudited |
| Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated |
| P&L Account |
| | 31 Dec 05 | 31 Dec 06 | 30 Sep 07 | 31 Dec 05 | 31 Dec 06 | 30 Sep 07 |
|---|
| | RUR mn | RUR mn | RUR mn | USD mn | USD mn | USD mn |
| Average RUR/USD Exchange rate | 28.30 | 27.16 | 25.89 |
| Sales | 40,955 | 61,559 | 46,541.4 | 1,447.42 | 2,266.12 | 1,797.63 |
| Production Costs | 40,555 | 60,254 | 38,349.7 | 1,433.28 | 2,218.08 | 1,481.23 |
| Operating Profit | 400 | 1,305 | 8,191.7 | 14.14 | 48.04 | 316.4 |
| Other Income | 1,273 | 1,138 | 3,524.8 | 44.99 | 41.89 | 136.14 |
| Income Before Taxes | 1,673 | 2,443 | 11,716.5 | 59.13 | 89.93 | 452.54 |
| Net Income | 978 | 1,456 | 8,844.8 | 34.56 | 53.6 | 341.63 |
| Financial data standard | IAS | IAS | IAS | IAS | IAS | IAS |
| Audited | Audited | Unaudited | Audited | Audited | Unaudited |
| Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated |
| Key Ratios |
| | 31 Dec 05 | 31 Dec 06 | 30 Sep 07 |
|---|
| Company Valuation Coefficients | |
|---|
| P/BV | 0.95 | 2.78 | 3.73 |
| P/S | 1.13 | 2.37 | 3.10 |
| P/E | 47.25 | 100.34 | 35.98 |
| Company Efficiency Coefficients | |
|---|
| Sales/Employee, USD thnd | 61.77 | 98.88 | 112.19 |
| Net Profit Margin, % | 2.39 | 2.37 | 8.61 |
| ROA, % | 1.51 | 2.20 | 8.78 |
| ROE, % | 1.94 | 2.93 | 11.87 |
| Turnover Coefficients | |
|---|
| Receivables Turnover | 7.71 | 8.78 | 5.88 |
| Assets Turnover | 0.63 | 0.93 | 1.02 |
| Inventory Turnover | 59.62 | 94.80 | 132.77 |
| Liabilities Turnover | 2.81 | 3.75 | 4.00 |
| Capital Structure Coefficients | |
|---|
| Equity Ratio | 0.76 | 0.74 | 0.75 |
| Debt Ratio | 0.24 | 0.26 | 0.25 |
| Equity/Debt | 3.18 | 2.90 | 2.97 |
| Current Liquidity | 2.81 | 1.61 | 2.34 |
| Quick Liquidity | 2.71 | 1.56 | 2.29 |
Production Overview
| Production |
| Product | Measure | 2006 | 2007 | 1Q08 | Units |
|---|
| DLD traffic | 1,000,000 | 9,662.3 | 10,174.8 | 2,544.8 | min | | ILD traffic (incoming) | 1,000,000 | 2,460.7 | 3,062.2 | 749.4 | min | | ILD traffic (outgoing) | 1,000,000 | 1,932.7 | 1,820.1 | 444.7 | min |
| Capacity |
| Product | Measure | Capacity | Units |
|---|
| Information is not available yet. |
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