Tue, Mar. 17, 9:00 AM
- The ruble's slide isn't sparing top Russian telecom Mobile TeleSystems (NYSE:MBT), as its Q4 profits slid nearly 92% in Q4.
- Group revenues of 107.2B rubles were still up 2.3% and beat an expected 105.8B rubles. Regionally the company saw strength in Russia (revenue up 4.1%) and Turkmenistan but still is experiencing "sustained weakness" in Ukraine amid political unrest.
- MTS also says it's taking a 5.1B ruble loss on a deposit at Ukraine's Delta Bank, which was declared insolvent March 3.
- The company has opened a (non-revolving) line of credit with Sberbank for 50B rubles.
- For 2015, MTS says group revenue may increase more than 2% while OIBDA margin will be greater than 40%. Capex expected will be about 85B rubles.
- Press release
Tue, Mar. 17, 8:17 AM
Wed, Feb. 25, 8:26 AM
- VimpelCom's (NASDAQ:VIP) Q4 revenue came in slightly to the upside of expectations at $4.39B, but the firm was hit by currency headwinds in posting a net loss of $0.53/share and a net loss of $691M for the year.
- EBITDA off $1.6B was about 7% off of expectations and down organically 8%.
- "We expect the operating environment to remain difficult in 2015, however I am confident that we have the right strategy to deliver on our targets," says CEO Jo Lunder.
- Facing the effects on the ruble and Ukraine's hryvnia, the firm will switch to negotiating vendor contracts in dollars.
- For 2015, the company expects service revenue to be anywhere from flat to a low-single-digit organic decline, and EBITDA flat to -1%. EPS is expected to come in at $0.35-$0.40.
- VimpelCom had announced an agreement with MTS (NYSE:MBT) to jointly plan, develop and operate 4G/LTE networks in Russia over the next few years.
- Press release
Nov. 25, 2014, 7:11 AM
Aug. 20, 2014, 7:20 AM
Mar. 18, 2014, 7:06 AM
Nov. 19, 2013, 6:40 AM
Aug. 20, 2013, 8:35 AM
Mar. 19, 2013, 7:09 AM
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Mobile Telesystems OJSC provides telecommunications services including voice and data transmission, internet access, pay TV, various value added services through wireless and fixed lines and sells equipment and accessories.
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