|
|
MegaFon Posts Strong Fourth-Quarter Results
Published on:
Russia's MegaFon has announced that its fourth-quarter revenues rose by 9.3 percent to reach RUR71.5 billion (US$2.3 billion), while net profits were up by 28.3% to RUR12.4 billion (US$405 million).
The number of active mobile subscribers as of December 31, 2012 was 64.6 million, an increase of 2.9% y-o-y.
For the full year, the company posted revenues that were up by 12.4% at RUR272.6 billion, but net profit declined by 12% to RUR38.3 billion.
The fall in profits was primarily due a combination of higher interest expense due to the increase in the Company's borrowings as a result of the shareholder restructuring and dividend payment in April 2012, and currency losses against the US Dollar.
Net debt at the end of last year was RUR 1218. billion.
Looking ahead, the company expects high single digit revenue growth, and OIBDA margin between the levels achieved in the years 2011 and 2012. In addition, they expect to spend RUR 55-60 billion on CAPEX.
|
| |
|
| |
|
| |
|
| |