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
average revenue growth of 31% in data transfer services, reported
In Internet access services for corporate subscribers,
revenues soared around 51% in 2007, nearly 2.5 times above the market average
of 21%, reported
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
in 2007. By the end of May, over 50 banks
had gained access to the Bank of Russia’s settlement system
AKADO Telecom plans to unfold numerous new services
“Last year’s results are a testimony of dynamic
growth,” said Denis
Lobanov, General Director of COMCOR OAO (AKADO Telecom trademark owner).
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
AKADO Telecom (COMCOR OAO), a premier telecoms operator
and technology trailblazer in the Moscow Region, offers
© 2008 ЗАО «АКАДО»