2008 FINANCIAL RESULTS

Tuesday, April 07, 2009

2008 was a successful year for MTS.

Our Group revenues grew 24.2% to over $10.2 billion US dollars year-over-year in 2008 as we generated strong, profitable growth in each of our markets of operations. We were successful in delivering on our profitability goal of a 50% OIBDA margin for the year, an indication that we are controlling costs where possible in what is both a volatile economic situation and an industry that is undergoing potentially profound change.

In the current environment, currency volatility is a pre-eminent short-term risk for MTS; it impacts both our clients’ consumption patterns and our results through translation policies, not to mention financial and cash-management practices. As such, we feel it is prudent to address our business unit performance in terms of local currency to demonstrate the true performance of our operations.

The materials we produce and circulate to the investment community – the press release, the presentation and our historical financial statements – will now feature local currency results, as well as the USD translation.

For full disclosure materials please visit http://www.mtsgsm.com/resources/reports/.

Tags: , , , , , ,

blog comments powered by Disqus

Recent Tweets

Follow me, Josh Tulgan, MTS Director for Corporate Finance and Investor Relations, on twitter

Twitter January 16, 19:23
Mobile internet in #Moscow is the cheapest among large cities https://t.co/6kjzXsn2jv

Twitter January 16, 19:19
RT @ditmos: Аналитики ДИТ поделились сравнительными данными стоимости 1ГБ мобильного интернета в крупных городах мира https://t.co/qnxMeYZ3

Twitter January 16, 09:36
$MBT moves to #gaming industry being on the forefront of working with tech disruptors that challenge, inspire and i… https://t.co/gsx8CZErXp

Twitter January 16, 09:27
#MTSS bought #eSport club #Gambit Esports $MBT https://t.co/laI883plOz

Twitter January 16, 09:23
$MBT enters #eSports market through acquisition of Gambit Esports, one of the world’s leading #eSport clubs #MTSS https://t.co/8my0cQKkfs

Note: For Customization and Configuration, CheckOut Recent Tweets Documentation