  Sistema JSFC on Wednesday reported an increase in net profit by 36.9% to US$ 357.9 million for the fourth quarter. It also said that its revenues have gone up 13% YoY to US$ 9.5 billion.
As for full year the company reported an increase in consolidated revenues by 3.9% to US$ 34.2 billion for 2012.
It also posted full year adjusted net income attributable to the Group2 up 80% YoY to US$ 1.8 billion and adjusted OIBDA1 up 3.3% YoY to US$ 8.5 billion, with an adjusted OIBDA margin of 25.0%
Net debt at the Corporate Holding level amounted to US$ 1.0 billion as at December 31, 2012, compared to net cash of US$ 580.5 million as at December 31, 2011, primarily due to the Company’s investments in 2012.
Mikhail Shamolin, President and Chief Executive Officer of Sistema, said, “2012 was marked by several accomplishments and substantial progress was made on our new investment ideas. In the transportation segment, we established a leading presence in the sector only months after acting on our initial interest, whilst in our agriculture business, our partnership has delivered a promising set of maiden results. The period was also dominated by prolonged uncertainty in India. However, despite these difficulties, our perseverance paid off in the first quarter this year when we managed to secure superior licences for SSTL at no immediate cost, thereby strengthening its investment case.
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