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 March 16, 22:16
RT @eurocomms: MTS taps majority shareholder for new CFO https://t.co/iOzjykk2x1 https://t.co/vFb02bxP41

Twitter March 15, 19:41
@Rudnit And on our networks they will roam!

Twitter March 14, 10:50
#Russia is the largest #cybersport market in Europe $58 mln @PayPal, @_SuperData, #e sport https://t.co/2dbsWdi1Xg через @ru_rbc

Twitter March 14, 10:33
Andrei Ushatsky, CTO, speaks with @mobileeurope about #5G, #WorldCup2018, #IoT https://t.co/XPSBrFfjUr $MTSS, $MBT

Twitter March 13, 12:49
RT @eurocomms: Stick or twist? Operators split on whether non-telco services strengthen their hand https://t.co/RNwmTqIQbU https://t.co/iRf

Note: For Customization and Configuration, CheckOut Recent Tweets Documentation