08 April 2004 19:07
Megafon`s 2003 net profits to US GAAP soar to $131.04 mln
MOSCOW. April 8 (Interfax) - One of Russia's biggest communications companies, Megafon turned net profits of
$131.04 million to US GAAP for 2003, quadruple its take the previous year, company general director Sergei Soldatenkov
announced at the Megafon bond loan presentation in Moscow on Thursday.
"The company's fund-raising plans include an IPO and eurobonds," Soldatenkov said. Megafon's goal
is becoming the country's second biggest cellular operator.
"We are positioning ourselves in the medium price range, and all our advertising and marketing strategy are
aimed at independent people, independence being understood not as a material condition, but as a personal
characteristic," Soldatenkov said. The company's earnings reached $821.72 million in 2003, earnings before
interest, taxes, depreciation and amortization (EBITDA) $377.63 million. Megafon's subscriber list numbered upwards
of 7.74 million as March ended. [RU EUROPE EEU ASIA EMRG TEL CORA EUB STX] cf
[Interfax] |
RUSSIA IN FACTS
