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Results of the Issuer’s financial and economic activity Profit and losses
Performances characterizing revenue position and red ink of the issuer:
Indicator
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3Q2007
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3Q2006
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Revenue, RUR ths
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14,584,924
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12,866,945
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Gross profit, RUR ths
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4,440,377
|
3,918,421
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Net profit (retained earnings (uncovered loss), RUR ths
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1,727,658
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1,402,171
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Return on equity, %
|
14.6
|
9.94
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Return on assets, %
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4.14
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3.37
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Net profit margin, %
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11.85
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10.90
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Profitability of products (sales), %
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30.17
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30.45
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Capital turnover, times
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0.52
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0.42
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Amount of uncovered loss as of the reporting date, RUR ths
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8,270,105
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-
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Uncovered loss as of the reporting date to balance sheet total ratio
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0.19
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-
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The above indicators were calculated according to the methodology recommended by the Federal Financial markets Service of the Russian Federation.
Economic analysis of the Issuer’s business efficiency:
During the analyzed period (9m2007 – 9m2006) revenue and gross profit showed a stable increase. As of 30.09.2007 the Company’s revenue grew by 13.35% over 9m2006. 9m2007 gross profit increased by 12.3% over a year ago.
Net profit shows actual growth of a company’s own capital, i.e. shows whether a company can generate profit for its owners. 9m2007 net profit was up 23.21% over 9m2006 which was related to a positive trend in revenue growth compared to the Company’s operating costs.
Profitability indicators representing ratio of net profit to means of its generation, characterize business efficiency of a company - productivity or return on financial resources. 3Q2007 return on equity has made 14.6 %, return on assets – 4.14%.
3Q2007 net profit margin has made 11.85%, a 0.95%-increase over 3Q2006.
Profitability of products (sales) characterizes primary activity and shows profit per one ruble of operating revenues. This indicator does not depend on quantitative changes of proceeds from sales and is a qualitative characteristic of the Issue’s core activity. In 3Q2007 this indicator showed an upward trend compared to a year ago, that is certainly a positive factor.
Capital turnover ratio shows the efficiency of assets management by the Company. 3Q2007 capital turnover ratio has made 0.52 times.
Factors that in opinion of the Issuer’s governing bodies have affected the amount of profits/losses of the Issuer reflected in the accounting records: The Issuer gained profit mainly due to a positive trend in revenue growths compared to the operating costs caused by cutting the Company’s investment program in the period under report and following the policy of rigid cost control.
Opinions of the Issuer’s governing bodies concerning the mentioned factors and-or level of their effect on financial and economic activities of the Issuer coincide.
None of the members of the Board of Directors or collective executive body (Management Board) of the Issuer has special opinion on the mentioned factors and-or level of their effect on financial and economic activities of the Issuer reflected in the minutes of the sessions of the Issuer’s Board of Directors or collegiate executive body at which the corresponding matters have been considered.
Factors That Have Influenced the Change of the Amount of revenues from Issuer’s Sales of Goods, Products, Works, Services and Profits (Losses) of the Issuer from Core Activity
Factors That Have Influenced the Change of the Amount of revenues from Issuer’s Sales of Goods, Products, Works, Services in the reporting period:
Due to liberalization of the long-distance market, system of interaction and settlements with Rostelecom and other long-distance operators for DLD and ILD traffic transit via UTK’s networks had changed. The Company lost revenues from DLD and ILD services due to changes in conditions of the licensed activity. In accordance with the Federal Law on Communications and new regulations governing the interaction of telecom operators, long-distance services are to be provided to end users by national telecom operator Rostelecom and other operators having appropriate licenses. From January 1, 2006 "UTK" PJSC renders services of local and intra-zonal telephony.
9m2007 total revenue of "UTK" PJSC made 14,584,924 thousand rubles gaining 10.4% over 9m2006. Revenues from telecom services was up 15.22% to 13,958,738 thousand rubles mainly due to coming into effect from July 1, 2006 of “Calling Party Pays” principle, stipulated in Article 54 of the Federal Law on Communications, active development of value-added services and changes in system of interaction and settlements with telecom operators.;
In pursuance of the decision of Federal Communications Supervision Service the Company changed tariffs for dial-up Internet services rendered by means of “Card number One” in its branches where these tariffs did not meet the requirements of FSN of the Russian Federation.
Changes of exchange rates have not influenced materially the Issuer’s revenues from core activity.
Opinions of the Issuer’s governing bodies concerning the mentioned factors and-or level of their effect on financial and economic activities of the Issuer coincide.
None of the members of the Board of Directors or collective executive body (Management Board) of the Issuer has special opinion on the mentioned factors and-or level of their effect on financial and economic activities of the Issuer reflected in the minutes of the sessions of the Issuer’s Board of Directors or collegiate executive body at which the corresponding matters have been considered.
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