COMCOR OAO (AKADO Telecom trademark owner) releases 2007 financials and strategic plans for 2008

COMCOR (AKADO Telecom trademark owner), a premier telecoms provider and technology trailblazer in the Moscow Region, has released its 2007 financials and 2008  targets earlier today.

2007 financial highlights:

The company grossed RUR2,986,525,000 by Russian Accounting Standards (RAS) in 2007, up 20.7% from 2006.  It’s gross profit was up 45% to RUR600,598,000.   The company’s EBITDA multiple totaled RUR1,105,001,000 as per management accounting records, up 29% from 2006.

COMCOR (AKADO Telecom trademark owner) expanded its share to around 13.2% in Moscow’s corporate market for landline telephony, basic Internet access, dedicated digital lines and data transfer services.

In 2007, 79.1% of the Company’s revenue stream came from Internet access services (18.8%), data transfer services (office integration, including Virtual Private Networks, VPN) (34.9%), and dedicated digital telecommunications lines (25.4%).

All year, AKADO Telecom focused on augmenting the Company’s service portfolio and improving subscriber service, creating a favorable climate for the inflow of new users.

The Company’s earnings from data transfer services to corporate clients climbed 36% in 2007 – above the market average revenue growth of 31% in data transfer services, reported by iKS-Consulting in 2007.

In Internet access services for corporate subscribers, the Company’s revenues soared around 51% in 2007, nearly 2.5 times above the market average of 21%, reported by iKS-Consulting. AKADO Telecom earned around 50% of this revenue stream in the provider-to-operator segment, but this part of the business is shrinking as new corporate subscribers hook up to the Company’s Internet service directly.

Dedicated digital lines, a traditional business specialism for AKADO Telecom, have generated steady earnings for the last 2 or 3 years, showing only marginal growth.  

 

Business development plans for 2008:

AKADO Telecom plans to step up operations in the commercial property market, which is experiencing dramatic growth in Moscow at the moment. The Company’s target is to serve as many as 100 corporate centers by the end of 2008.

Another priority for AKADO Telecom are banking institutions. The Company’s revenues from services to financial service providers doubled in 2007. By the end of May, over 50 banks had gained access to the Bank of Russia’s settlement system via the COMCOR-Bank network following a functionality upgrade. The Company plans to increase the number of banks served to 150 by the end of 2008. AKADO Telecom plans to sizably expand its service portfolio in 2008, networking sovereign and private financial institutions into a common IT environment.

AKADO Telecom plans to unfold numerous new services out of its in-house Data Center in 2008. Built in accordance with best-in-class international standards, the Data Center was designed to cater to clients who prize easy data access combined with rock-solid data security.

“Last year’s results are a testimony of dynamic growth,” said Denis Lobanov, General Director of COMCOR OAO (AKADO Telecom trademark owner). “Our EBITDA went up 29%, and our earnings rocketed. We have retained strong momentum so far this year. While staying active in the major corporate segment, we will be increasingly focusing on products and services for small and medium- sized businesses in 2008.” 

 

AKADO Telecom (COMCOR OAO), a premier telecoms operator and technology trailblazer in the Moscow Region, offers the full cross-spectrum of quality telecommunications services, supported by its fully-owned fiber optic network exceeding 18,000 km in length. The core services provided by AKADO Telecom are high-speed Internet access, telephony, data transfer, dedicated digital lines, corporate network integration, data security, Data Center services and cable TV. COMCOR OAO joined AKADO Group (AKADO ZAO) in April 2008, and now operates under the AKADO trademark. COMCOR is mainly a triple play package provider of cable TV + high-speed Internet + telephony. AKADO Telecom is currently the unrivalled leader in multi-service access via fiber optic lines.

 
 

© 2008 ЗАО «АКАДО»

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