Rostelecom delivered strong financial results in 2011. The United Rostelecom is only in the very early stages of its development, and while there are risks associated with the consolidation, we have already achieved significant growth in revenue and net income, with improvements in business efficiency also becoming prominent. Not only have the financial results demonstrated the efficiency of the united Company, but enormous commitment and close cooperation between its different components have been displayed, to successfully complete significant projects such as the unique large-scale project to set up the video surveillance system used to monitor the voting process during the Russian Presidential elections.
Letter to Shareholders
Operating and Financial Review
- Consolidated revenues up 7% year on year to RUB 296.0 billion
- OIBDA up 11% year on year to RUB 117.7 billion
- Total broadband subscribers base up 24% year on year to 8.2 mln