11. Company financial results for 2010

11. Company financial
results for 2010

In the past several years MTS Group OJSC has transformed from being the leader of one regional market of Moscow into a major transnational operator, which provides services to 108.07 million subscribers in various regions and countries (including subscribers of Mobile TeleSystems JLLC in Belarus, whose financial results are not consolidated in the US GAAP financial statements of MTS OJSC).

Below we present the data of consolidated financial statements, excluding the financial results of the MTS Group operations in the Republic of Belarus.

Group Revenue

Group Revenue

Key financial indicators, 2010 (MUSD)*

Indicators Q4 2010 Q4 2009 Q4 2010 vs.Q4 2009 Q3 2010 Change over the quarter 2009 2009 Change over the year
Revenue 2 995 2 724 10% 2 911 3% 11 293 9 867 14%
OIBDA 1 159 1 202 -4% 1 317 -12% 4 873 4 486 9%
OIBDA margin 38.7% 44.1% -5.4 pp 45.3% -6.6 pp 43.1% 45.5% -2.4 pp
Net operating income 493 617 -20% 804 -39% 2 735 2 556 7%
Net operating margin 16.5% 22.7% -6.2 pp 27.6% -11.1 pp 24.2% 25.9% -1.7 pp
Net income/loss 156 -23 / 484 -68% 1 381 1 014 36%

* Taking into account the retrospective Sistema Telecom LLC, TS-Retail OJSC and METRO-TELECOM CJSC consolidation for all disclosure periods.


Revenue structure (MUSD)*

Region Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 2009 2010 Change over the year
Russia 2264.2 2185.5 2298.1 2408.3 2533.3 8074.9 9425.1 +17%
Ukraine 263.8 240.6 270.9 291.6 269.7 1 048.8 1072.8 +2%
Uzbekistan 105.2 103.5 113.3 114.9 116.3 404.9 448.0 +11%
Turkmenistan 47.4 48.5 53.4 55.9 49.8 160.8 207.6 +29%
Armenia 54.5 46.3 50.2 57.2 53.6 221.3 207.3 -6%

OIBDA (MUSD)*

Region Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 2009 2010 Change over the year
Russia 1022.8 996.4 1042.2 1096.5 956.0 3745.3 4091.1 +9%
Ukraine 116.0 104.7 126.9 144.8 122.2 472.3 498.6 +6%
Uzbekistan 56.7 56.5 65.8 64.4 62.0 222.7 248.7 +12%
Turkmenistan 30.2 31.2 33.1 34.1 29.3 91.0 127.7 +40%
Armenia 27.2 22.6 26.9 31.5 27.4 118.8 108.4 -9%

OIBDA margin (MUSD)*

Region Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 2009 2010
Russia 45.2% 45.6% 45.3% 45.5% 37.7% 46.4% 43.4%
Ukraine 44.0% 43.5% 46.8% 49.7% 45.3% 45.0% 46.5%
Uzbekistan 53.9% 54.6% 58.1% 56.1% 53.3% 55.0% 55.5%
Turkmenistan 63.7% 64.4% 62.0% 61.1% 58.7% 56.6% 61.5%
Armenia 50.0% 48.8% 53.5% 55.2% 51.1% 53.7% 52.3%

* Taking into account the retrospective Sistema Telecom LLC, TS-Retail OJSC and METRO-TELECOM CJSC consolidation for all disclosure periods.