16 June 2004 13:20
RBC`s Total Revenue More Than Doubles in the 1st Quarter of 2004
RBC Information Systems Natalia Makeeva, + 7 095 363 1111 ir@rbc.ru www.rbcinfosystems.com RBC Information Systems
(RTS, MICEX: RBCI) reported its preliminary financial results for the 1st quarter of 2004. RBC Chairman and CEO German
Kaplun said: "Given the fact that the 1st quarter usually contributes the smallest share of annual revenues, we are
extremely satisfied with the achieved results and remain optimistic about the company's further growth."
RBC's total revenue rose 116% from $6.9m in the 1st quarter of 2003 to $14.9m in the period under review,
primarily driven by RBC TV's success among its target business audience and continuing strong growth on the Media
and IT markets.
Revenue from the core Media business reached $6.8m in the 1st quarter of 2004, which is 74% more than in the same
period of 2003. The main drivers were the strengthening of the RBC brand, the launch of new media products and the
growing popularity of RBC's online resources.
The total revenue from RBC TV reached $3.5m in the 1st quarter of 2004. As of the end of May RBC TV has successfully
entered into agreements with various clients, who have committed about $12m in advertising contracts of the planned $16m
revenue in 2004.
Revenue from the IT business was up 53% from $3m in the 1st quarter of 2003 to $4.6m in the same period of 2004 on
the back of increased implementation of programming contracts with state organizations.
In 2004 RBC expects to deliver strong top-line growth of about $71m, including $16m from RBC TV. This forecast is
given exclusive of potential acquisitions. The full-year 2004 net profit from the core media and IT business (excluding
the TV project) is projected to reach $15.8m. On a consolidated basis, the company's net profit is expected to
reach $10.8m, with EBITDA being at a level of $20.1m.
Cautionary note regarding forward-looking statements
Some of the information in this press release may contain statements of future expectations and other forward-looking
statements. These expectations are based on management's current views and assumptions and involve known and
unknown risks and uncertainties. It is possible that the company's actual results and financial condition may
differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking
statements. For a discussion of some of the risks and important factors that could affect the firm's future
results, see "Risk Factors" in the company's IPO Circular on www.rbcinfosystems.com. RBC assumes no
obligation to update any forward-looking information contained in this document.
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