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 June 21, 14:24
Hey everyone! We have established a new account - @MTS_IR - which will serve as the official mouthpiece for #MTS… https://t.co/cIQfxnxt5e

Twitter June 21, 09:32
RT @MTS_IR: #MTS to sell #E-health services in North-Western #Russia $MTSS $MBT #MTSgoesdigital https://t.co/gDEL7G5bfN

Twitter June 20, 22:00
BB Stable from S&P $MTSS $MBT https://t.co/nFX9VFJr8b

Twitter June 16, 14:15
RT @MTS_IR: #MTS launched EasyStart solution to motivate small business using online cash registers to cut costs and comply with new regula…

Twitter June 13, 22:58
RT @MTS_IR: 🏆 Moscow is #2 among European cities in integration of #SmartCities solutions in urban life and #1 in terms of readiness of cit…

Note: For Customization and Configuration, CheckOut Recent Tweets Documentation