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Mobile TeleSystems Announces Financial Results For The Fourth Quarter And Full Year Ended December 31, 2012

MOSCOW, RUSSIAN FEDERATION, March 19, 2013 /PRNewswire/ --

Mobile TeleSystems OJSC ("MTS" - NYSE: MBT), the leading telecommunications provider in Russia and the CIS, today announces its unaudited US GAAP financial results for the three months and full year ended December 31, 2012.

Key Financial Highlights of Q4 2012 and FY 2012
  • Consolidated revenues up 1.1% q-o-q to $3,168 million and up 1.0% y-o-y to $12,436 million
  • Consolidated adjusted OIBDA [1] of $1,288 million down 6.6% q-o-q with 40.7% adjusted OIBDA margin and up 3.0% y-o-y to $5,300 million with 42.6% adjusted OIBDA margin
  • Consolidated net income [2] of $547 million in Q4 2012 and a net income of $1,007 million in FY 2012
  • Free cash-flow [3] growth of 25% to $1.3 billion for FY 2012

Key Corporate and Industry Highlights
  • Acquired Pilot LLC and TVKiK LLC, providing fixed broadband and pay-TV services in the Kursk Oblast, from private investors. The purchase price, including the net debt of both companies, amounts to RUB 90.7 million
  • Acquired ZhelGorTeleCom CJSC, the leading fixed broadband provided in Zheleznogorsk in the Kursk Oblast, from private investors. The purchase price, including net debt, amounts to RUB 152 million
  • Signed a non-binding indicative offer between MTS, MTS Bank and Sistema JSFC to purchase up to 25.095% stake in MTS Bank through a share issuance for up to RUB 5.09 billion

Commentary

Mr. Andrei Dubovskov, President and CEO of MTS, commented, "For the year 2012, Group revenues increased by 1% to $12.4 billion. Overall, we saw strong operating dynamics in our core Russian and Ukrainian markets, yet our Group top line performance was limited by a significant weakening of the Russian ruble versus the US dollar and the mid-year suspension of our operations in Uzbekistan. We continue to see growth in our markets driven by sustained voice usage and greater adoption of data products and services. We delivered both ARPU and usage growth in each of our core markets, a sign of Group's excellence throughout the organization. In 2012, total revenues in Russia increased in ruble terms by 8% to RUB 338 billion driven by increased usage of data products; an increase in handset sales, including sales of higher-value smartphones through our expanding proprietary retail chain; and our ability to attract and retain higher-value subscribers."

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