Speaking at the presentation of the company's second and third bond issues, Denis Pozdnyakov, Volgatelecom's first deputy general director, said the size of the fourth bond issue would depend on the company's negotiations with residents and banks.
Volgatelecom will float 5.3 billion rubles (about $185 million) of the second and third bond issues December 6. The company intends to redeem its first outstanding bond issue worth 1 billion rubles (about $35 million) in February 2006, the official said.
Pozdnyakov said the company's net profit in accordance with international financial reporting standards could reach $88.3 million in 2005, an increase of 2.6% from 2004. The official added that under an optimistic scenario, net profit could be even larger.
According to Pozdnyakov, the company's sales are expected to grow by 17% in 2005 year-on-year to $858.9 million. Revenues from new services will go up by 82% to $49.1 million, of which revenues from mobile phone services will rise by 72% to $121 million. The company expects to expand its share on the Volga area cellular phone market from 18% in 2004 to 19% in 2005.
