MobileTeleSystems (MTS), largest mobile operator of Russia and CIS, said it increased its share in Uzbek GSM operator, Uzdunrobita, from 74% to 100%. The company said it spent US$250 million to gain full control in the Uzbek mobile operator.
Uzdunrobita, largest Uzbek mobile operator in terms of subscriber, started to work under MTS brand in 2006.
Russian company acquired 74% stake in Uzdunrobita in August 2004 for US$121 million and signed three-year option agreement with private shareholders to buy other shares.
Leonid Melamed, MTS President, commented: "Full consolidation of Uzdunrobita, high level of Uzbek business organization and development of 3G standard will allow us fully use high potential of Uzbek market."
As of 31 May 2007, MTS services over 1.85 million subscribers.
Revenues in Uzbekistan in the first quarter added US$49.1 million to the company’s consolidated revenues (up 93.2% y-o-y), US$31.3 million to its consolidated OIBDA (up 99.0% y-o-y) with an OIBDA margin of 63.7%, and US$16.8 million to its consolidated net income (up 175.4% y-o-y).
Operating income before depreciation and amortization (OIBDA) represents operating income before depreciation and amortization. OIBDA margin is defined as OIBDA as a percentage of net revenues.
First quarter ARPU was US$10.3, a decrease from US$12.0 in the previous quarter. First quarter MOU was 463 minutes, a decrease from 515 minutes in the previous quarter.
Average monthly service revenue per subscriber (ARPU) is calculated by dividing service revenues for a given period, including interconnect and guest roaming fees, by the average number of our subscribers during that period and dividing by the number of months in that period.
Average monthly minutes of usage per subscriber (MOU) is calculated by dividing the total number of minutes of usage during a given period by the average number of our subscribers during the period and dividing by the number of months in that period.
MTS’ expenditure on property, plant and equipment in the first quarter totaled US$2.7 million in Uzbekistan.