Interim Results for January – June 2014


Almaty, 17 July, 2014 - Kcell Joint Stock Company (“Kcell” or the "Company") (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of revenue and subscribers, announces its interim results for January – June 2014.


CONTINUED IMPROVED DEVELOPMENT WITH INCREASED RESULTS

Second quarter

• Revenue increased by 3.8 percent to KZT 48,035 million (46,271).

• EBITDA, excluding non-recurring items, rose by 8.0 percent to KZT 27,536 mil-lion (25,508). EBITDA margin increased to 57.3 percent (55.1).

• Operating income, excluding non-recurring items, grew by 7.5 percent to KZT 21,238 million (19,748).

• Net finance cost decreased to KZT 219 million (537).

• Net income 6.2 percent higher at KZT 16,512 million (15,551).

• Free cash flow decreased to KZT 16,213 million (26,581).

• Net addition during the quarter is 154,000 subscriptions. The number of sub-scriptions decreased by 608,000 during the quarter, due to clean-up of 762,000 subscriptions, no effect on market share.

 

First half

• Revenue 3.2 percent higher at KZT 92,142 million (89,324).

• EBITDA, excluding non-recurring items, increased 8.1 percent to KZT 53,208 million (49,237). EBITDA margin of 57.7 percent (55.1).

• Operating income, excluding non-recurring items, up 9.0 percent to KZT 41,093 million (37,704).

• Net finance cost decreased to KZT 499 million (1,149).

• Net income up 10.1 percent to KZT 32,147 million (29,207).

• Free cash flow decreased to KZT 34,201 million (37,607).

• Net addition during the first half of the year is 126,930 subscriptions. The num-ber of subscriptions decreased by 1,424,070 during the first half of the year, due to clean-up of 1,551,000 subscriptions, no effect on market share.

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