Russian holding company Sistema on Thursday reported a net loss US$ 161.9 million in the second quarter. The company said that the group’s consolidated results for the second quarter of 2012 were impacted by a 10.8% year-on-year rouble depreciation against the US dollar.
 
It said that a non-cash one-off loss (“one-off”) of US$ 1,079.0 million was also recognised relating to impairments and provisions with regard to MTS’ operations in Uzbekistan.
 
Company’s consolidated revenues of US$ 8.1 billion, went down 6.3% YoY
 
IBDA without one-off down 7.4% YoY to US$ 2.0 billion, with an OIBDA margin of 25.1%
 
Operating income without one-off down 7.2% YoY to US$ 1.2 billion, with an operating margin of 15.2%
 
Net loss attributable to the Group of US$ 161.9 million and net income without one-off of US$ 407.8 million
 
Net debt1 at the Corporate Holding level reduced to US$ 5.3 million as of June 30, 2012 from US$ 1,390.5 million as of June 30, 2011.
 
On MTS India Mikhail Shamolin, President and Chief Executive Officer of Sistema, commented, “Our focus will also be on resolving the situation around our Indian telecom operations. Auction prices announced by the regulator are unjustifiably high and no decision on auction participation will be taken until our case is heard in our Curative Petition to the Supreme Court.”