Uralzvyazinform Plans 40% Net Profit Increase In 2009

21.10.2009 — News

THE SVERDLOVSK OBLAST.

The capitalisation of OAO Uralzvyazinform (Utel brand) has grown 2.7 times by mid-October 2009 in comparison to the beginning of the year. In 2009 the main efforts of the telecom operator were focused on the high speed of growth in the broadband Internet access sector, ensuring liquidity, and the reduction of debt burden. 

The company informed RusBusinessNews that the total amount of borrowing in 2009 is going to be reduced by 2.7 billion roubles. As a result of tough control of spending Uralzvyazinform this year will be able to increase the operation efficiency in comparison to 2008. It is planned to increase EBITDA by no less than 15% and net profit - by 40%.

OAO Uralzvyazinform is a universal telecoms services operator in the Urals region. The company covers 7 subjects of the Russian Federation with the total area of 1.9 million square kilometres and population of over 15 million people. The total number of subscribers to key services of the company as of 1 of October 2009 has exceeded 10 million, the capitalisation as of 19 October 2009 amounted to 29.8 billion roubles. Forbes listed OAO Uralzvyazinform amongst the top 40 Russian stock companies.