Rostelecom OJSC: Rostelecom Financial Results under RAS for the First
Quarter of 2013 Are Now Available on the Company’s Website
UK Regulatory Announcement
ROSTELECOM FINANCIAL RESULTS UNDER RAS FOR THE FIRST QUARTER OF 2013 ARE NOW
AVAILABLE ON THE COMPANY’S WEBSITE
Moscow, Russia – May 15, 2013 – Rostelecom OJSC (MICEX - RTS: RTKM, RTKMP;
OTCQX: ROSYY), Russia’s national telecommunications operator, today announces
that its financial statements for the first quarter of 2013, under Russian
Accounting Standards (“RAS”), have been made available in the “Investor
Relations” section of its corporate website.
The Company would like to draw investors’, shareholders’ and other
stakeholders’ attention to certain key points relating to the first quarter
results for 2013 which should be taken into account during their analysis.
Rostelecom’s financial results under RAS for the first quarter of 2013 exclude
any contribution from its subsidiaries, including OJSC NTC, CJSC Sky Link and
mobile subsidiaries. The Company’s balance sheet as at March 31, 2013,
comprises only Rostelecom’s performance, but it also excludes the
contributions of its subsidiary companies.
Moreover, when analysing the first quarter trends for the 2013 RAS results, it
is essential to take into account one-off income and expenditure that occurred
in the first quarter of 2012 which related to the organization of the video
surveillance project during the Russian presidential elections.
Rostelecom intends to publish its financial and operational results under IFRS
according to the Company’s consolidated statements for the first quarter of
2013 on May 21, 2013. These results will include contributions from Rostelecom
and its subsidiaries, including OJSC NTC, CJSC Sky Link, as well as the
Company’s mobile subsidiaries and affiliated companies.
Please use the following link to access Rostelecom’s consolidated financial
and operational results under IFRS for previous reporting periods:
* * *
Rostelecom (www.rostelecom.ru) is Russia’s largest national telecommunications
operator with presence in all Russian regions. The Group is a universal
operator and undisputable leader of broadband and pay-TV markets in Russia
with over 9.2 million fixed-line broadband subscribers and over 6.6 million
pay-TV subscribers. As Rostelecom develops its mobile data networks, its
position as a major mobile operator is growing with over 13.5 million
currently subscribed to Rostelecom’s mobile voice services. The Group is also
an important innovator that provides solutions in the field of medicine,
E-Government, cloud computing and education.
Rostelecom was assigned a ‘BBB-’ and ‘BB+’ international credit ratings by
Fitch Ratings and Standard & Poor’s respectively, both with a ‘Stable’
outlook. The Group generated RUB 321.3 billion of consolidated revenues, RUB
118.6 billion of OIBDA (36.9% of revenues) and RUB 35.2 billion of net income
for the twelve months ended December 31, 2012.
* * *
Certain statements in this press release are forward-looking statements within
the meaning of the U.S. federal securities laws and are intended to be covered
by the safe harbors created thereby.
Those forward-looking statements include, but are not limited to:
*Management’s assessment of the Company’s future operating and financial
results as well as forecasts of the present value of future cash flows and
*the Company’s anticipated capital expenditures and plans to construct and
modernize its network;
*the Company’s expectations as to the growth in demand for its services,
plans relating to the expansion of the range of its services and their
*the Company’s plans with respect to improving its corporate governance
*the Company’s expectations as to its position in the telecommunications
market and the development of the market segments within which the Company
*economic outlook and industry trends;
*the Company’s expectations as to the regulation of the Russian
telecommunications industry and assessment of impact of regulatory
initiatives on the Company’s activity;
*other statements regarding matters that are not historical facts.
Such forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from those
expressed or implied by these forward-looking statements. These risks,
uncertainties and other factors include:
*risks relating to changes in political, economic and social conditions in
Russia as well as changes in global economic conditions;
*risks relating to Russian legislation, regulation and taxation, including
laws, regulations, decrees and decisions governing the Russian
telecommunications industry, securities industry as well as currency and
exchange controls relating to Russian entities and their official
interpretation by regulatory bodies;
*risks relating to the Company, including the achievement of the
anticipated results, levels of profitability and growth, ability to create
and meet demand for the Company’s services including their promotions, and
the ability of the Company to remain competitive in a liberalized
*technological risks associated with the functioning and development of the
telecommunications infrastructure, technological innovations as well as
the convergence of technologies;
*other risks and uncertainties. For a more detailed discussion of these and
other factors, see the Company’s Annual Report and the Company’s other
Many of these factors are beyond the Company’s ability to control or predict.
Given these and other uncertainties, readers are cautioned not to place undue
reliance on any of the forward-looking statements contained herein or
otherwise. The Company does not undertake any obligation to release publicly
any revisions to these forward-looking statements (which are made as of the
date hereof) to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, except as may be required
under applicable laws.
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