Rostelecom, Russia's national telecommunications operator, announced its consolidated financial results for the third quarter and the first nine months of 2013 on Wednesday, prepared in accordance with IFRS.
For the first nine months, consolidated revenues were up 2 percent year-on-year to $7.03 billion, excluding the one-off revenues in the first quarter of 2012. Revenues decreased by 3 percent year-on-year after factoring in one-off revenues, OIBDA amounted to $2.64 billion with an OIBDA margin of 37.5 percent, higher than the OIBDA margin for full-year 2012 - 36.9 percent - and the second quarter of 2013 - 37.2 percent - while net income was $732 million, reflecting the absence of Rostelecom's share in Svyazinvest's net income.
In the first nine months, capital expenditure was $1.39 billion, or 19.7 percent of revenue, net debt was $6.31 billion and net cash from operating activities was $1.91 billion with a free cash flow of $520 million.
For the third quarter, consolidated revenues were up 2 percent year-on-year to $2.37 billion, OIBDA amounted to $890 million with an OIBDA margin of 37.2 percent, compared to 36.percent for the full year 2012, and 37.4 percent for the second quarter of 2013, net income was up 12 percent year-on-year to $320 million, and capital expenditure was $420 million, or 17.8 percent of revenue.