'Megafon Q1 revenue up 12% to RUB 42.2 billion'

Mon. June 22, 2009; Posted: 06:11 AM

Jun 22, 2009 (DMEUROPE via COMTEX) -- CHXDF | Quote | Chart | News | PowerRating -- Russian mobile operator Megafon has seen its Q1 revenue grow by 11.7 percent year-on-year to RUB 42.2 billion. Net income increased 20.2 percent year-on-year, reaching RUB 11.1 billion. EBITDA rose 10.3 percent year-on-year to RUB 20.9 billion, while the EBITDA margin for the first three months of 2009 was 49.6 percent. The company's free cash flow in Q1 reached RUB 10.7 billion. At the end of Q1, the number of subscribers was 43.5 million, reaching a 22.8 percent share of the mobile market. ARPU dropped by 8.9 percent to RUB 315.7 from RUB 346.7. MOU also decreased by by 4 percent to 264 from 275 in Q1 2008 in the year-ago period. MOU and ARPU declined year-on-year as a result of the global economic downturn, as subscribers decreased their consumption patterns. The company launched a number of new tariff programs (e.g., federal program 'Your Time', 'Just for Communication' in the macro-regions of Moscow and Siberia, 'Fairytale' in the North-West macro-region), aimed particularly at those subscribers most affected by the economic slowdown. In June, the company entered into a credit facility agreement with China Development Bank Corporation for up to USD 300 million with interest at Libor plus 2.7 percent. The loan is intended for purchase of Huawei equipment.

Distributed for DMeurope.com via M2 Communications (www.m2.com)

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