North-West Telecom JSC released 9 months 2009 Results according to  the International Financial Reporting Standards (IFRS).   

Consolidated interim financial reports are unaudited statements and are presented as the balance sheet, profit and loss report, aggregate income report, cash flow report, capital changes report and notes to the financial statements. As N.W.Telecom started presenting quarterly reports according to the IFRS only from the year 2009, these reports do not contain any comparison to the same period of the previous year.

According to the IFRS, revenue from sales amounted to RUR 19,650 million for 9 months of 2009. The operating expenses reached RUR 18,418 million. Other operating income amounted to RUR 3,128 million for 9 months of 2009.  

As a result, North-West Telecom’s operating income for 9 months of 2009 amounted to RUR 4,360 million.

More than 50% of North-West Telecom’s revenue are the income from local access, which amounted to RUR 9,994 million for 9 months of 2009. The income from data transmission network services and telematic services (Internet) reached RUR 4,024 million , which makes 20.5% of the total Company’s revenue.

EBITDA* amounted to RUR 8,862 million and EBITDA margin 45.1% for 9 months of 2009.

OIBDA** amounted to RUR 9,409 million and OIBDA margin 47.9% for the period under report.

North-West Telecom’s net income for the 9 months of 2009 amounted to RUR 2,215 million and the net income margin reached 11.3%.

The consolidated financial statements of North-West Telecom JSC for 9 Months of 2009 according to the IFRS and notes to them are published on the corporate web site of N.W.Telecom in the Economic and Finance section.

* EBITDA is calculated according to the following formula:   “Earning before taxation ” + “depreciation and amortization” + “financial expenses” – “interest income on financial assets” – “interest income on pension plan assets”.

** OIBDA is calculated according to the following formula: “Operating income “ + “ depreciation and amortization”.