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ROSTELECOM FINANCIAL RESULTS UNDER RAS FOR THE FIRST HALF OF 2014 ARE NOW AVAILABLE ON THE COMPANY’S WEBSITE

August 14, 2014

MOSCOW--(BUSINESS WIRE)--



ROSTELECOM FINANCIAL RESULTS UNDER RAS FOR THE FIRST HALF OF 2014 ARE NOW AVAILABLE ON THE COMPANY’S WEBSITE

Moscow, RussiaAugust 14, 2014 – Rostelecom OJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its financial statements for the first half of 2014, under Russian Accounting Standards (“RAS”), have been made available in the “Investor Relations” section of its corporate website.

The Company would like to draw investors’, shareholders’ and other stakeholders’ attention to certain key points relating to the results for the first half of 2014 which should be taken into account during their analysis.

Rostelecom’s financial results under RAS for the first half of 2014 exclude any contribution from its subsidiaries. The Company’s balance sheet as at June 30, 2014, comprises only Rostelecom’s performance, but it also excludes the contributions of its subsidiary companies.

Moreover, when analysing the trends for the first half of 2014 RAS results compared to the same period of 2013, it is essential to take into account the following:

  • the merger of Svyazinvest and 20 other joint-stock companies1 with Rostelecom held on October 1, 2013;
  • the spin-off of Rostelecom`s integrated mobile assets into its subsidiary RT-Mobile CJSC held on April 1, 2014.

    Rostelecom intends to publish its financial and operational results under IFRS according to the Company’s consolidated statements for the second quarter and the first half of 2014 on August 21, 2014. These results will include contributions from Rostelecom and its subsidiaries.

    Please use the following link to access Rostelecom’s consolidated financial and operational results under IFRS for previous reporting periods:

    http://www.rostelecom.ru/ir/results_and_presentations/financials/IFRS/.

    ***

    For more information please visit http://www.rostelecom.ru/en/ir or contact:

    “Rostelecom Investor Relations / Rostelecom IR” application is now available to download for free from the Apple App Store and Google Play

    Investor Relations Department

    Tel. +7 (499) 995 97 80

    ir@rt.ru

    ***

    Rostelecom (www.rostelecom.ru) is one of the largest national telecommunications operators in Russia and Europe. The Group operates in all segments of the telecommunications market and covers more than 34 million households.

    Rostelecom is an undisputable leader of the broadband and pay-TV markets in Russia with over 10.8 million fixed-line broadband subscribers and over 7.6 million pay-TV subscribers.

    The Group generated RUB 80.4 billion of consolidated revenues, RUB 26.5 billion of OIBDA (33.0% of revenues) and RUB 6.9 billion of net income for the first three months ended March 31, 2014.

    The Group is a market leader in providing telecommunications services to government bodies and corporates of all levels. It is also an important innovator that provides solutions in the field of medicine, E-Government, cloud computing, education, security and housing & utility services.

    Rostelecom was assigned ‘BBB-’ and ‘BB+’ international credit ratings by Fitch Ratings and Standard & Poor’s respectively.

    * * *

    Certain statements in this press release are forward-looking statements within the meaning of the U.S. federal securities laws and are intended to be covered by the safe harbors created thereby.

    Those forward-looking statements include, but are not limited to:

  • Management’s assessment of the Company’s future operating and financial results as well as forecasts of the present value of future cash flows and related factors;
  • the Company’s anticipated capital expenditures and plans to construct and modernize its network;
  • the Company’s expectations as to the growth in demand for its services, plans relating to the expansion of the range of its services and their pricing;
  • the Company’s plans with respect to improving its corporate governance practices;
  • the Company’s expectations as to its position in the telecommunications market and the development of the market segments within which the Company operates;
  • economic outlook and industry trends;
  • the Company’s expectations as to the regulation of the Russian telecommunications industry and assessment of impact of regulatory initiatives on the Company’s activity;
  • other statements regarding matters that are not historical facts.

    Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include:

  • risks relating to changes in political, economic and social conditions in Russia as well as changes in global economic conditions;
  • risks relating to Russian legislation, regulation and taxation, including laws, regulations, decrees and decisions governing the Russian telecommunications industry, securities industry as well as currency and exchange controls relating to Russian entities and their official interpretation by regulatory bodies;
  • risks relating to the Company, including the achievement of the anticipated results, levels of profitability and growth, ability to create and meet demand for the Company’s services including their promotions, and the ability of the Company to remain competitive in a liberalized telecommunications market;
  • technological risks associated with the functioning and development of the telecommunications infrastructure, technological innovations as well as the convergence of technologies;
  • other risks and uncertainties. For a more detailed discussion of these and other factors, see the Company’s Annual Report and the Company’s other public filings.

    Many of these factors are beyond the Company’s ability to control or predict. Given these and other uncertainties, readers are cautioned not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements (which are made as of the date hereof) to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable laws.

    1 Either directly or indirectly controlled by Rostelecom and/or Svyazinvest



    Rostelecom OJSC

    Source: Rostelecom OJSC


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