“ Comstar “ has grown on MGTS
and promises organic growth in 2008 on 15-20 %
the Gain “ Comstar “ in 2007 has grown on 39 %, to 1,56 mlrd dollars the Basic contribution to growth has provided MGTS at the expense of increase in tariffs at local communication. In 2008 “ Comstar “ intend to increase a gain by 15-20 % only at the expense of organic growth. Analysts and participants of the market consider plans “ Comstar “ ambitious enough, but achievable.
gain growth “ to Comstar “ has provided the traditional segment presented in group by the company of MGTS. MGTS gain in 2007 has grown on 39 %, to 1,113 mlrd dollars that has been connected with growth of tariffs for local communication. Thus a gain in an alternative segment “ Comstar “ has grown all on 16 %. Net profit “ Comstar “ has decreased in 1,9 times, to 43,8 million dollars Net profit falling in the company explain revaluation of options “ koll “ and “ put “ on the repayment of 11,06 % of actions “ Comstar “ received in the end of 2006 company Access Industries belonging to Leonid Blavatniku. The negative effect rendered on net profit, has exceeded 60 million dollars
In 2008 “ Comstar “ intend to increase a gain by 15-20 % without possible absorption and a dollar course change. By estimations UniCredit Aton, taking into account a course change of dollar the growth predicted “ Comstar “ will make 23-28 %.
For achievement of growth of a gain “ Comstar “ intend to invest in regions. “ the basic volume of means will be directed on regional development and modernisation “ last mile “. Thus we expect to keep CAPEX at level of 25 % from a gain “ - the president " has declared; Comstar “ Sergey Pridantsev. As he said, “ Comstar “ The exit in the Russian cities with the population over 250 thousand persons in all regions, except the Far East interests. In the second quarter the company also intends to start services of a long-distance communication for corporate subscribers, and by the end of the year mobile WiMAX in Moscow. “ we were not very strong in a corporate segment. After we will start a long-distance communication, we can involve corporate subscribers with a universal set of services “ - has informed g - n Pridantsev.
“ Search of new points of growth in regions while justifies itself: last year “ Comstar “ has made two successful acquisitions, added to a gain almost 80 million dollars “ - the analyst " has informed; Three Dialogue “ Evgenie Golosnoj. However on gain growth in 2008 the analyst considers plans optimistical enough. “ MGTS tariffs will be frozen this year, and after all the operator - while the main generator of a gain for “ Comstar “. To achieve the declared rates of increase, “ to Comstar “ it is necessary to develop all other directions actively. Not the fact that noncontrollable business can provide gain growth “ Comstar “ on 15-20 % “ - considers g - n as Golosnoj.
Under forecasts UniCredit Aton, gain growth “ Comstar “ in 2008 will make 15 % taking into account a dollar course change. But in the near future the investment company intends to reconsider this estimation. In FK “ Uralsib “ predict gain growth “ Comstar “ in 2008 at level of 12 % without a dollar course change. However, according to analyst FK “ Uralsib “ Konstantin Tchernyshev, “ to Comstar “ quite on forces to reach the declared indicators.
if to assume that MGTS tariffs will not grow also a gain of the operator remains at level 1,1 mlrd dollars the contribution to group growth will provide only alternative segment. In that case the gain in this segment should grow on 52 % and exceed 680 million dollars “ Basically such growth is quite possible. But for this purpose “ to Comstar “ it is necessary to work, extend seriously in regions and to increase user`s base on broadband access to the Internet by 300-400 thousand persons “ - the general director " considers; Korbiny a Telecom “ Alexander Malis.
Investors have positively reacted to results “ Comstar “ for 2007. After the announcement of financial results cost GDR of the company at the London stock exchange has grown on 5 %, to 10,4 dollars “ the Three Dialogue “ recommends to buy securities “ Comstar “ with target by 15,9 dollars for GDR till the end of this year. In Alpha bank also recommend to buy securities “ Comstar “ with target by 17 dollars for GDR on dvenadtsatimesjachnyj the period.