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Eesti Telekom
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Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
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2193
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Esitamise kuupäev ja aeg
24.04.2009 09:00:00
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AS-i Eesti Telekom 2009. aasta I kvartali konsolideeritud vahearuanne, EEK
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TEGEVUSE VAHEARUANNE ÜLDINFO Eesti Telekom Grupi, mille emaettevõtja on AS Eesti Telekom (registreerimisnumber 10234957; aadress: Valge 16, 19095 Tallinn), peamiseks tegevusalaks on telekommunikatsiooniteenuste osutamine. AS-i Eesti Telekom aktsiad on alates 1999. aastast noteeritud Tallinna ja Londoni väärtpaberibörsidel (OMX: ETLAT / LSE: EETD). Muudatused Eesti Telekom Grupi struktuuris AS-i Eesti Telekom nõukogu on andnud heakskiidu ühinemise alustamiseks ja ühinemislepingute sõlmimiseks juhatuste poolt eesmärgiga Eesti Telekom Grupi struktuuri lihtsustada ning ühendada AS-iga EMT viimase 100% tütarettevõtjad EMT Esindused AS ja AS Mobile Wholesale ning Elion Ettevõtted AS-iga viimase 100% tütarettevõtja Elion Esindus AS. Ühendamiste eesmärk on saavutada suuremat efektiivsust äriprotsessides. Ühendamised loodetakse lõpule viia hiljemalt 2009. aasta augustis. Finantsaruandluses plaanitav ühendamine muutusi kaasa ei too, kuna EMT Grupi ja Elion Grupi tulemused on esitatud konsolideerituna ka praegu. Seisuga 11.02.2009 on BiTA Service Management ühendatud IT Koolituskeskuse OÜ-ga. AS-i Eesti Telekom omanike struktuur 2009. aasta esimese kvartali jooksul ei ole olulisi muudatusi AS-i Eesti Telekom suuraktsionäride struktuuris aset leidnud. AS-i Eesti Telekom enamusosanik, TeliaSonera AB (läbi Baltic Tele AB), omab jätkuvalt 60,12% ettevõtte aktsiatest. Esimese kvartali lõpu seisuga oli vabalt kaubeldavate aktsiate osakaal 12,71% aktsiate koguarvust. Neist 12,81% oli konverteeritud Londoni Börsil kaubeldavateks GDR-ideks. AS-i Eesti Telekom 10 suuremat aktsionäri 31. märtsi 2009. aasta seisuga olid: -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 31. märts 2009 | -------------------------------------------------------------------------------- | | Väärtpaberite arv | Osalus | -------------------------------------------------------------------------------- | | Muutus | | | võrreldes 31. | | | detsember 2008 | -------------------------------------------------------------------------------- | Baltic Tele AB | 82 936 299 | 60,12% | 0 | -------------------------------------------------------------------------------- | Rahandusministeerium | 33 346 464 | 24,17% | 0 | -------------------------------------------------------------------------------- | Eesti Arengufond | 4 138 636 | 3,00% | 0 | -------------------------------------------------------------------------------- | SEB kliendid | 2 818 746 | 2,04% | (45 988) | -------------------------------------------------------------------------------- | Deutsche Bank (GDR-ide kontod) | 2 246 838 | 1,63% | (17 382) | -------------------------------------------------------------------------------- | ING Luxembourg S.A. | 2 055 783 | 1,49% | 0 | -------------------------------------------------------------------------------- | Clearstream Banking Luxembourg | 578 301 | 0,42% | (6 675) | | S.A. kliendid | | | | -------------------------------------------------------------------------------- | UniCredit Bank Austria AG | 472 148 | 0,34% | (24 238) | -------------------------------------------------------------------------------- | Mellon Treaty Omnibus | 363 473 | 0,26% | (28 679) | -------------------------------------------------------------------------------- | State Street Bank and Trust | 335 945 | 0,24% | 0 | | Omnibus Account | | | | -------------------------------------------------------------------------------- AS-i Eesti Telekom aktsia AS-i Eesti Telekom aktsia hind tõusis 2009. aasta esimeses kvartalis 18,97%. Aktsia hind kvartali alguses oli 64,15 EEK ning kvartali lõpus 72,60 EEK. Kõrgeim ja madalaim aktsia hind aruandeperioodi jooksul olid vastavalt 82,14 EEK ning 64,15 EEK. Aruandeperioodi käibeks kujunes 212 miljonit EEK. AS-i Eesti Telekom aktsia hind on 2009. aasta esimeses kvartalis liikunud kõrgematel tasemetel kui OMX Tallinn indeks ja OMX Baltic 10 kaubeldavama aktsia indeks. ÄRITEGEVUS Juhatuse kommentaar: Grupi müügitulu esimeses kvartalis oli peamiselt mõjutatud regulatsioonidest (mobiilsektorile Euroopa Liidust) ning majanduse jahenemisest (kauba müügi vähenemine ja tarbijakäitumise muutumine). Samas jätkus juurdekasv mobiilside lepinguliste klientide, mobiilse ja fikseeritud lairiba klientide ning TV klientide hulgas. Tänu varem käivitatud efektiivsusprogrammidele õnnestus tulude langus kompenseerida samas proportsioonis kulude langusega ning säilitada kulumieelne ärikasumi marginaal. Olulisemad finantsnäitajad Eesti Telekom grupp -------------------------------------------------------------------------------- | | I kv. 2009 | I kv. 2008 | Muutus, % | -------------------------------------------------------------------------------- | Müügitulu, mln EEK | 1 336 | 1 484 | (10,0) | -------------------------------------------------------------------------------- | Ärikasum enne kulumit, mln EEK | 517 | 576 | (10,3) | -------------------------------------------------------------------------------- | Marginaal, % | 38,7 | 38,8 | | -------------------------------------------------------------------------------- | Ärikasum, mln EEK | 360 | 436 | (17,6) | -------------------------------------------------------------------------------- | Marginaal, % | 26,9 | 29,4 | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln EEK | 376 | 452 | (16,8) | -------------------------------------------------------------------------------- | Perioodi kasum, mln EEK | 376 | 452 | (16,8) | -------------------------------------------------------------------------------- | Tava kasum aktsia kohta, EEK | 2,72 | 3,27 | (16,7) | -------------------------------------------------------------------------------- | Perioodi koondkasum, mln EEK | 376 | 452 | (16,8) | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EEK | 123 | 119 | 3,2 | -------------------------------------------------------------------------------- | Netovõla suhe omakapitali, % | (25,9) | (29,5) | | -------------------------------------------------------------------------------- | ROA, % | 7,4 | 8,7 | | -------------------------------------------------------------------------------- | ROE, % | 8,4 | 10,0 | | -------------------------------------------------------------------------------- Mobiilside teenuste segment -------------------------------------------------------------------------------- | | I kv. | I kv. 2008 | Muutus, % | | | 2009 | | | -------------------------------------------------------------------------------- | Müügitulu, mln EEK | 740 | 874 | (15,4) | -------------------------------------------------------------------------------- | Ärikasum enne kulumit, mln EEK | 274 | 329 | (16,8) | -------------------------------------------------------------------------------- | Marginaal, % | 37,0 | 37,6 | | -------------------------------------------------------------------------------- | Ärikasum, mln EEK | 206 | 266 | (22,6) | -------------------------------------------------------------------------------- | Marginaal, % | 27,9 | 30,4 | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln EEK | 216 | 273 | (20,6) | -------------------------------------------------------------------------------- | Perioodi kasum, mln EEK | 216 | 273 | (20,6) | -------------------------------------------------------------------------------- | Perioodi koondkasum, mln EEK | 216 | 273 | (20,6) | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EEK | 75 | 57 | 30,8 | -------------------------------------------------------------------------------- | ROA, % | 9,3 | 12,1 | | -------------------------------------------------------------------------------- | ROE, % | 11,6 | 15,6 | | -------------------------------------------------------------------------------- Lairiba teenuste segment -------------------------------------------------------------------------------- | | I kv. 2009 | I kv. 2008 | Muutus, % | -------------------------------------------------------------------------------- | Müügitulu, mln EEK | 727 | 764 | (4,8) | -------------------------------------------------------------------------------- | Ärikasum enne kulumit, mln EEK | 248 | 247 | 1,0 | -------------------------------------------------------------------------------- | Marginaal, % | 34,1 | 32,3 | | -------------------------------------------------------------------------------- | Ärikasum, mln EEK | 171 | 176 | (2,7) | -------------------------------------------------------------------------------- | Marginaal, % | 23,6 | 23,1 | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln EEK | 171 | 177 | (3,6) | -------------------------------------------------------------------------------- | Perioodi kasum, mln EEK | 171 | 177 | (3,6) | -------------------------------------------------------------------------------- | Perioodi koondkasum, mln EEK | 171 | 177 | (3,6) | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EEK | 45 | 56 | (20,5) | -------------------------------------------------------------------------------- | ROA, % | 6,3 | 6,3 | | -------------------------------------------------------------------------------- | ROE, % | 8,0 | 8,3 | | -------------------------------------------------------------------------------- IT-teenuste segment -------------------------------------------------------------------------------- | | I kv. 2009 | I kv. 2008 | Muutus, % | -------------------------------------------------------------------------------- | Müügitulu, mln EEK | 62 | 79 | (22,1) | -------------------------------------------------------------------------------- | Ärikasum enne kulumit, mln EEK | (3) | 4 | N/A | -------------------------------------------------------------------------------- | Marginaal, % | (5,3) | 4,9 | | -------------------------------------------------------------------------------- | Ärikasum, mln EEK | (16) | (2) | N/A | -------------------------------------------------------------------------------- | Marginaal, % | (25,3) | (2,9) | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln EEK | (16) | (3) | N/A | -------------------------------------------------------------------------------- | Perioodi kasum, mln EEK | (16) | (3) | N/A | -------------------------------------------------------------------------------- | Perioodi koondkasum, mln EEK | (16) | (3) | N/A | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EEK | 3 | 5 | (42,9) | -------------------------------------------------------------------------------- | ROA, % | (8,9) | (1,7) | | -------------------------------------------------------------------------------- | ROE, % | (14,0) | (3,3) | | -------------------------------------------------------------------------------- Müügitulud, tegevuskulud ja kasum Grupi müügitulu ulatus 2009. aasta esimeses kvartalis 1336 miljoni kroonini (1. kvartal 2008: 1484 miljonit krooni), ning oli peamiselt mõjutatud regulatsioonidest, mis tulevad mobiilisektorile Euroopa Liidust ning majanduse jahenemisest. Mobiilside teenuste segmendi 2009. aasta esimese kvartali konsolideeritud käive ulatus 740 miljoni kroonini, kahanedes 2008. aasta esimese kvartaliga võrreldes 15% (1. kvartal 2008: 874 miljonit krooni). Kogutulude languse taga oli jae- ja sidumishindade langusest tingitud kõneteenuste tulude vähenemine, mida kompenseeris osaliselt mobiilse andmeside kasv ja allhanketeenuste mahu kasv. Samuti on esimeses kvartalis võrreldes aastataguse ajaga vähenenud telekommunikatsioonikaupade jae- ja hulgimüügist saadavad tulud, mis on tingitud muutunud tarbijakäitumisest. Lisaks jäi nii klientide poolt algatatud kõneminutite, kui ka EMT võrku sisenevate vastuvõetavate kõneminutite arv 2% võrra väiksemaks võrreldes 2008. aasta esimese kvartaliga, mis tuleneb klientide kokkuhoiusoovist tarbimist piirata. AS-i EMT kliendibaas oli 2009. aasta esimese kvartali lõpuks 14 tuhande võrra suurem võrreldes aasta varasema ajaga, ulatudes 766 tuhande aktiivse SIM-kaardini (31. märts 2008: 751 tuhat kaarti). Võrreldes aastatagusega on lepinguliste klientide arv kasvanud 15 tuhande võrra, ulatudes 2009. aasta esimese kvartali lõpu seisuga 488 tuhandeni, samal ajal kui aktiivsete ettemaksega kaartide kasutajate arv on jäänud samale 278 tuhande tasemele. EMT hindab oma turuosa aktiivsete SIM-kaartide põhjal stabiilselt 47%-le. Hinnanguline aktiivsete kaartide penetratsioon Eestis on 120%. Märtsis tõi EMT turule mobiilportaali SurfPort lisavõimaluse, mis võimaldab kaasaegsetel mobiiltelefonidel avada enamikke tavapäraseid veebilehti tervest internetist. Seniajani oli telefoni ekraanil võimalik avada üksnes spetsiaalselt mobiiltelefonidele loodud WAP lehti. Uus omadus laiendab tunduvalt infovalikut liikuvatele kasutajatele, ilma vajaduseta arvuti või uue telefoni järgi. Vastavalt Sideameti otsustele oli fikseeritud AS EMT-le, Elisa Eesti AS-ile ja Tele2 Eesti AS-ile perioodiks 01.07.2007-30.06.2008 sidumistasuks 1,66 krooni. Perioodiks 01.07.2008-30.06.2009 on kehtestanud Sideameti õigusjärglane Konkurentsiamet AS-ile EMT, Elisa Eesti AS-ile ja Tele2 Eesti AS-ile oma mobiiltelefoni-võrkudes häälkõne lõpetamise tasuks 1,37 krooni minut. Konkurentsiamet tegi 26.03.2009 otsuse alusel teatavaks uue turuanalüüsi tulemused, mille kohaselt tunnistati olulise turujõuga ettevõtjaks oma mobiiltelefonivõrgus häälkõne lõpetamise turul lisaks AS-ile EMT, Elisa Eesti AS-ile ja Tele2 Eesti AS-ile ka ProGroup Holding OÜ. Otsuse kohaselt kohustatakse viidatud ettevõtjaid hinnakontrolli kohustuse raames rakendama kuni 30.06.2012 benchmark´il põhinevat Euroopa riikide keskmist sidumistasu, mis teeb alates 01.07.2009 rakendatavaks maksimaalseks tariifiks 1,36 krooni minut. Perioodideks 01.07.2010-30.06.2011 ja 01.07.2011-30.06.2012 kehtestatavad sidumistasu maksimaalmäärad teeb Konkurentsiamet teatavaks hiljemalt 2 kuud enne vastavate perioodide algust, kuid otsuse kohaselt ei tohi rakendatava sidumistasu langus või tõus olla suurem kui 10%. Lairiba teenuste segmendi müügitulud ulatusid esimeses kvartalis 727 miljoni kroonini (1. kvartal 2008: 764 miljonit krooni). Võrreldes 2008. aasta sama perioodiga kasvasid tulud enim rahvusvaheliste sidumisteenuste ja terviklahenduste müügist, mis suurenesid vastavalt 27% ja 16%. Rahvusvaheliste sidumisteenuste tulude kasv tulenes peamiselt rahvusvaheliste sisenevate kõnede minutimahu suurenemisest. Samas langesid lõpp-klientidelt teenitavad kõneteenuste tulud minutimahu vähenemise tõttu 16%. Tulenevalt terviklahenduste mahu ja tulude osakaalu olulisest kasvust langesid lõppenud kvartalis tulud kõnesideühenduste ja internetiühenduste kuutasudest vastavalt 10% ja 14%. Siiski ületab terviklahenduste müügist teenitud tulu nimetatud languse märkimisväärselt. Võrreldes eelmise aasta sama perioodiga vähenes lairiba teenuste segmendi käive kokku 5%. Käibe langus oli eelkõige seotud telekommunikatsiooni- ja IT-kaupade müügimahtude vähenemisega. Elioni interneti püsiühenduse klientide koguarv kasvas 2009. aasta esimeses kvartalis võrreldes aasta varasema ajaga 9000 ühenduse võrra, ulatudes märtsi lõpuks 176,5 tuhandeni (31. märts 2008: 167,5 tuhat). Ettevõtja hinnangul Elioni turuosa eraklientide püsiühendusest ei muutunud, olles jätkuvalt 54%. Märtsis alustas Elion erakliendi terviklahenduste tooteportfelli ühtlustamisega, tuues turule kaks uuendatud Kodulahenduse toodet ning alustades olemasolevate Kodulahenduse klientide järk-järgulist üleviimist uutele toodetele. Mõlema toote puhul on tegemist kolmikpaketiga, mis erinevad üksteisest internetiühenduse allalaadimiskiiruse ning televisioonikanalite arvu poolest. Uued Kodulahenduse tooted sisaldavad tasuta täiendavat televisiooni vaatamiskohta ning WiFi kasutusvõimalust Elioni WiFi võrkudes üle Eesti. Märtsi lõpus lansseeris Elion ka kolmikpaketi baasvajadustele vastava 255-kroonise kuutasuga Stardipaketi, sisenedes uue tootega odavteenuste turule. Stardipakett toodi turule inimeste internetti kaasamise projekti "Ole kaasas!" raames, mis algatati märtsis Sihtasutuse Vaata maailma! ning Eesti Telekomi poolt. Elioni kolmikpakettide kasutajate arv suurenes esimeses kvartalis võrreldes aasta varasema ajaga 23,5 tuhande võrra, ulatudes 31. märtsi seisuga 82,1 tuhandeni (31. märts 2008: 58,6 tuhat). Esimese kvartali lõpuks oli Elionil 86,9 tuhat IP- ja kaabeltelevisiooni klienti (31. märts 2008: 63,2 tuhat). Elioni hinnangul on ettevõtja turuosa Eesti kaabelleviturul aastaga suurenenud 6%, ulatudes esimese kvartali lõpuks 28%-ni (31. märts 2008: 22%). Märtsis alustas Elion veebiaadressil http://leiunurk.elion.ee kasutatud IT seadmete müüki, mis täidab ettevõtja jaoks kahte eesmärki - säästa keskkonda, suunates kvaliteetseid seadmeid taaskasutusse ning võimaldada arvuti ostu ka keerulises majandussituatsioonis. Esimese kvartali lõpuks ulatus Elioni aktiivsete kõneliideste arv 461 tuhandeni (31. märts 2008: 473 tuhat liidest). Kõneliideste vähenemine tuleneb telefoniühenduste arvu oodatud kahanemisest erasegmendis ning taksofonide arvu vähendamisest üle Eesti. Elion hindab oma turuosa fikseeritud võrgus algatatud kõneminutitest 80%-liseks (31. märts 2008: 81%). Turuosa kohalike kõnede minutitest on 82% (31. märts 2008: 83%), rahvusvaheliste kõnede minutitest 68% (31. märts 2008: 66%) ning mobiiltelefonidele tehtavate kõnede minutitest 70% (31. märts 2008: 71%). Rahvusvaheliste kõnede turuosa tõus on seletatav arvestusmetoodika muutusega. Ettevõtja hinnangul on nimetatud turuosa püsinud viimase aasta jooksul samal tasemel. Märtsi lõpus teavitas Elion teisi operaatoreid iga-aastasest sidumisteenuste ja juurdepääsuteenuste hinnakirja muudatustest, mis jõustuvad alates 1. maist 2009. Tegemist on valdkonnapõhisest regulatsioonist tulenevate nõuetega, mis kohustavad Elioni hindu üle vaatama vähemalt kord aastas ning mis põhinevad eelmise perioodi kuluaruannetel. Teenuste lõikes tulenevad hinnamuudatused on eelkõige seotud mahtude vähenemise või suurenemisega. Näiteks vaskpaari rendi kuutasud ning telefonivõrgu sidumistasud suurenevad keskmiselt 20% ja 12%. Samas alanevad lairiba juurdepääsu hinnad olenevalt kiirusest 9-20%. IT-teenuste segmendi 2009. aasta esimese kvartali andmed sisaldavad oktoobris 2008 omandatud IT Koolituskeskuse OÜ grupi ettevõtete konsolideeritud andmeid. IT-teenuste segmendi müügitulu ulatus 2009. aasta esimeses kvartalis 62 miljoni kroonini (1. kvartal 2008: 79 miljonit krooni). Võrreldes eelmise aasta sama perioodiga vähenes konsolideeritud müügitulu 22%, seejuures IT-kaupade osas langes müügitulu 53% ja püsiteenuste osas langes müügitulu 6% võrra ning projektipõhiste teenuste müügitulu suurenes 30%. Eesti Telekom Grupi siseselt osutatud teenuste müügitulu vähenes eelmise aasta esimese kvartaliga võrreldes 27%, samas grupivälistele klientidele osutatud teenuste müügitulu suurenes 13%. 2009. aasta riigieelarve vähendamine 8 miljardi krooni võrra avaldas olulist mõju Eesti IT-sektorile. Paljud hanked on edasi lükatud või juba toimunud hangete tulemused tühistatakse. Infrastruktuurilahenduste müügikäive oli esimeses kvartalis oluliselt väiksem kui eelmisel aasta samal perioodil (15 miljonit krooni vs 33 miljonit krooni). Põhjuseks on üldine langus IT-turul. Samasugust langustrendi täheldavad hetkel kõik IT-haru ettevõtted, kes tegelevad kaubamüügiga. Projektiäris oli esimeses kvartalis oluliseks projektiks dokumendihalduse juurutamine Eesti Postis ning erinevate infosüsteemide edasiarendused Piletilevis, Töötukassas ning Ragn-Sells's. Püsiteenuste valdkonnas võitis AS MicroLink Eesti esimeses kvartalis Tallina Linnakantselei poolt korraldatud arvutitööjaamade halduse hanke. Lisaks hakkas MicroLink Eesti esimeses kvartalis osutama serverihalduse teenuseid Ida-Tallinna Keskhaiglale, Harku Vallavalitsusele ja Eesti Raudteele. Eesti Telekom Grupi tegevuskulud vähenesid 2009. aasta esimeses kvartalis 2008. aasta sama perioodiga võrreldes 10%, ulatudes 825 miljoni kroonini (1. kvartal 2008: 913 miljonit krooni). Mobiilside teenuste segmendi tegevuskulud vähenesid 2008. aasta esimese kvartaliga võrreldes 14%, jäädes 468 miljoni kroonini tasemele (1. kvartal 2008: 547 miljonit krooni). Enim on vähenenud jae- ja hulgikaubandusega seotud tegevuskulud, mis on kooskõlas kaubanduse müügikäibe langusega. Samuti on vähenenud sidumishindade langusest tingitud sidumiskulud. Tegevuskulude langusele avaldasid mõju ka efektiivsusprogrammid, mis olid seotud töötajate arvu ning turundus, IT- ja võrgukulude vähendamisega. Lairiba teenuste segmendi tegevuskulud kahanesid lõppenud kvartalis 2008. aasta sama perioodiga võrreldes 7%, ulatudes 482 miljoni kroonini (1. kvartal 2008: 520 miljonit krooni). Põhiosa tegevuskulude vähenemisest tulenes kaupade jaemüügimahtude kahanemisega seotud otsemüügikulude langusest. Olulist mõju tegevuskulude langusele avaldasid ka eelmisel aastal algatatud efektiivsusprojektid, mis olid seotud võrguressursi hoolduskulude, IT- ja transpordikulude ning töötajate arvu vähendamisega. IT-teenuste segmendi tegevuskulud kahanesid esimeses kvartalis võrreldes eelmise aasta sama perioodiga 14%, ulatudes 65 miljoni kroonini (1. kvartal 2008: 76 miljonit krooni). Kvartali tegevuskulusid mõjutas IT Koolituskeskuse konsolideerimisega kaasnenud kulude lisandumine, eraldiseisva ettevõttena kasvasid AS MicroLink Eesti tegevuskulud 3%. Eesti Telekom Grupi ärikasum enne kulumit kahanes 2009. aasta esimeses kvartalis eelmise aasta sama perioodiga võrreldes 10%, ulatudes 517 miljoni kroonini (1. kvartal 2008: 576 miljonit krooni). Mobiilside teenuste segmendi ärikasum enne kulumit vähenes esimeses kvartalis võrreldes eelmise aasta sama perioodiga 17% võrra. Kuna tegevuskulude langus on olnud peaaegu samas proportsioonis käibe vähenemisega, siis mobiilside segmendi tegevuskasumi marginaal on langenud vähem kui ühe protsendi võrra. Lairiba teenuste segmendi ärikasum enne kulumit suurenes esimeses kvartalis eelmise aasta sama perioodiga võrreldes 1%, ulatudes 248 miljoni kroonini (1. kvartal 2008: 247 miljonit krooni). IT-teenuste segmendi ärikahjum enne kulumit oli 2009. aasta esimeses kvartalis 3 miljonit krooni (1. kvartal 2008: kasum 4 miljonit krooni). Grupi ärikasumi enne kulumit marginaal oli 2009. aasta esimeses kvartalis 39%, jäädes samale tasemele eelmise aasta sama perioodi vastava marginaaliga. Grupi amortisatsioonikulu ulatus 2009. aasta esimeses kvartalis 157 miljoni kroonini, suurenedes 2008. aasta sama perioodiga võrreldes 12% (1. kvartal 2008: 140 miljonit krooni). Suurim kasv amortisatsioonikulus tulenes IT-teenuste segmendist kus amortisatsioonikulu ulatus 2009. aasta esimeses kvartalis 12 miljoni kroonini (1. kvartal 2008: 6 miljonit krooni). See oli tingitud tütarettevõtte IT Koolituskeskuse OÜ omandamise järgselt bilansis kajastatud firmaväärtuse allahindamisest 6,4 miljoni krooni ulatuses käesoleva aasta veebruaris. Eesti Telekom Grupp teenis esimeses kvartalis ärikasumit 360 miljonit krooni, kahanedes eelmise aasta sama perioodiga võrreldes 18% (1. kvartal 2008: 436 miljonit krooni). Eesti Telekom Grupi 2009. aasta esimese kvartali kasum oli 376 miljonit krooni (1. kvartal 2008: 452 miljonit krooni). Tulu aktsia kohta teeniti 2,72 krooni (1. kvartal 2008: 3,27 krooni). Grupi 2009. aasta esimese kvartali koondkasum oli 376 miljonit krooni (1. kvartal 2008: 452 miljonit krooni). Finantsseisundi aruanne ja rahavood Eesti Telekom Grupi bilansimaht oli 31. märtsi 2009. aasta seisuga 5207 miljonit krooni (31. detsember 2008: 4999 miljonit krooni). Aasta algusega võrreldes on 20 miljoni krooni võrra kahanenud põhivara, mille jääk esimese kvartali lõpus ulatus 2905 miljoni kroonini. Grupi käibevara on kolme kuuga kasvanud 227 miljoni krooni võrra, ulatudes märtsikuu lõpus 2302 miljoni kroonini (31. detsember 2008: 2075 miljonit krooni). Raha ja raha ekvivalentide ning lühiajaliste finantsinvesteeringute jääk on kasvanud 358 miljoni krooni võrra, ulatudes perioodi lõpuks 1221 miljoni kroonini. Eesti Telekom Grupi omakapital oli 31. märtsi 2009. aasta seisuga 4671 miljonit krooni, mis on 376 miljonit krooni enam kui 2008. aasta lõpus (31. detsember 2008: 4295 miljonit krooni). Omakapitali kasv on tulenenud esimese kvartali kasumist. Grupil oli märtsi lõpu seisuga pikaajalisi kohustusi 32 miljonit krooni (31. detsember 2008: 33 miljonit krooni) ja lühiajalisi võlakohustusi 503 miljonit krooni (31. detsember 2008: 671 miljonit krooni). Eesti Telekom Grupi netovõlg oli esimese kvartali lõpus - 1212 miljonit krooni ja netovõla suhe omakapitali -25,9% (31. detsember 2008: -853 miljonit krooni ja -20%). Eesti Telekom Grupi äritegevuse rahavoog oli 2009. aasta kolme kuuga 453 miljonit krooni (3 kuud 2008: 447 miljonit krooni). Grupi investeerimistegevuse rahavoog oli 406 miljonit krooni (3 kuud 2008: 550 miljonit krooni). Rahavoog materiaalse ja immateriaalse põhivara soetamisse oli esimesel kolmel kuul 123 miljonit krooni (3 kuud 2008: 119 miljonit krooni). Mobiilside teenuste segment on 2009. aasta esimeses kvartalis investeerinud 75 miljonit krooni (1. kvartal 2008: 57 miljonit krooni). Mobiilsides oli lisaks pidevale GSM-võrgu arendusele arenguprioriteediks kiiret mobiilset andmesidet toetavate tehnoloogiate rakendamine. Enamus EMT klientide andmeside kasutusest tehakse 3G võrgus, mis võimaldab kasutada kvaliteetset ja kiiret ADSLi lähedase kiirusega internetiühendust mugavalt kontrollitavate kuludega. Kuna EMT-l töötab ainsana Eestis EDGE andmeside kogu GSM levialas, siis uued tugijaamade investeeringud on suunatud põhiliselt 3G välis- ja siselevi laiendamiseks linnades ja asulates. Samas jätkus endiselt pidev GSM võrgu täiustamine. Lairiba teenuste segmendi investeeringud põhivarasse ulatusid 45 miljoni kroonini (1. kvartal 2008: 56 miljonit krooni). Põhiosa kapitalimahutustest olid seotud võrguressursi arendamisega, tooteportfelli muudatustega ning kolmikteenuse kvaliteedi parandamise ja kättesaadavuse laiendamisega. IT-teenuste segment investeeris 2009. aasta esimeses kvartalis põhivarasse 3 miljonit krooni (1. kvartal 2008: 5 miljonit krooni). Eesti Telekom Grupi rahavoog finantseerimistegevusse oli 2009. aasta esimese kolme kuuga sarnaselt eelmise aasta esimesele kvartalile 1 miljon krooni. Aktsionäride üldkoosolek AS-i Eesti Telekom aktsionäride korraline üldkoosolek toimub 20. mail 2009. aastal algusega kell 12.00 aadressil Valge 16, Tallinn. 2008. aasta majandusaasta aruande ja üldkoosoleku otsuseprojektidega saab tutvuda alates 27. aprillist 2009. aastal internetiaadressil: http://www.telekom.ee ja Eesti Telekomis aadressil Valge 16, Tallinn tööpäeviti kell 10.00 - 14.00. Üldkoosolekuga seonduvaid küsimusi võib esitada AS-i Eesti Telekom kodulehel, telefonil 6 311 212 või meilida aadressil [email protected]. Dividendid AS-i Eesti Telekom juhatus teeb aktsionäride üldkoosolekule ettepaneku jaotada aktsionäride vahel ning maksta aktsionäridele dividendidena välja 1449 miljonit krooni ehk 10,50 krooni aktsia kohta, lähtudes dividendi-õiguslike aktsiate arvust, ehk 137 954 528 aktsiast. 2008. aastal jaotati aktsionäride vahel dividendidena 1449 miljonit krooni ehk 10,50 krooni aktsia kohta. Definitsioonid Kulumieelse ärikasumi marginaal = põhivara kulumieelne ärikasum / müügitulu x 100% Ärikasumi marginaal = ärikasum / müügitulu x 100% Netovõlg = pika- ja lühiajalised intressikandvad laenud ja võlakohustused - raha ja raha ekvivalendid -lühiajalised investeeringud Netovõla suhe omakapitali = netovõlg / omakapital x 100% ROA = aruandeperioodi kasum / keskmine varade väärtus x 100% ROE = kasum enne maksustamist /keskmine omakapital x 100% Tava kasum aktsia kohta = aruandeperioodi kasum / keskmine aktsiate arv KONSOLIDEERITUD KOONDKASUMIARUANNE -------------------------------------------------------------------------------- | | Lisad | I kvartal | I kvartal | 2008 | | | | 2009 | 2008 | | -------------------------------------------------------------------------------- | Müügitulu | 2.1, 2.3 | 1 336 492 | 1 484 181 | 6 189 597 | -------------------------------------------------------------------------------- | Müüdud toodangu kulud | 2.1 | (761 334) | (830 495) | (3 532 | | | | | | 648) | -------------------------------------------------------------------------------- | Brutokasum | 2.1 | 575 158 | 653 686 | 2 656 949 | -------------------------------------------------------------------------------- | Turustus-, üldhalduskulud | 2.1 | (220 537) | (221 982) | (907 058) | | ning uurimis- ja | | | | | | arendusväljaminekud | | | | | -------------------------------------------------------------------------------- | Muud äritulud | 2.1 | 7 552 | 6 285 | 31 317 | -------------------------------------------------------------------------------- | Muud ärikulud | 2.1 | (2 570) | (1 554) | (8 498) | -------------------------------------------------------------------------------- | Ärikasum | 2.1 | 359 603 | 436 435 | 1 772 710 | -------------------------------------------------------------------------------- | Finantstulud | | 17 395 | 17 751 | 55 185 | -------------------------------------------------------------------------------- | Finantskulud | | (349) | (584) | (871) | -------------------------------------------------------------------------------- | Finantstulud, neto | 2.1 | 17 046 | 17 167 | 54 314 | -------------------------------------------------------------------------------- | Finantstulud / (-kulud) | 2.1 | (824) | (1 680) | (2 847) | | sidusettevõtjate | | | | | | aktsiatelt ja osadelt, | | | | | | neto | | | | | -------------------------------------------------------------------------------- | Kasum enne | 2.1 | 375 825 | 451 922 | 1 824 177 | | tulumaksustamist | | | | | -------------------------------------------------------------------------------- | Dividendide tulumaks | 2.1 | - | - | (385 912) | -------------------------------------------------------------------------------- | Perioodi kasum | 2.1 | 375 825 | 451 922 | 1 438 265 | -------------------------------------------------------------------------------- | Muu koondkasum | | | | | -------------------------------------------------------------------------------- | Valuutakursi vahed | 2.1 | (12) | - | 17 | | välisettevõtete | | | | | | ümberarvestusel | | | | | -------------------------------------------------------------------------------- | Perioodi muu koondkasum | 2.1 | (12) | - | 17 | -------------------------------------------------------------------------------- | Perioodi koondkasum kokku | 2.1 | 375 813 | 451 922 | 1 438 282 | -------------------------------------------------------------------------------- | Perioodi kasumi jaotus: | | | | | -------------------------------------------------------------------------------- | Emaettevõtja osalus | 2.1 | 375 404 | 450 651 | 1 434 835 | | kasumis | | | | | -------------------------------------------------------------------------------- | Vähemusosa osalus kasumis | 2.1 | 421 | 1 271 | 3 430 | -------------------------------------------------------------------------------- | | | 375 825 | 451 922 | 1 438 265 | -------------------------------------------------------------------------------- | Perioodi koondkasumi | | | | | | jaotus: | | | | | -------------------------------------------------------------------------------- | Emaettevõtja osalus | 2.1 | 375 394 | 450 651 | 1 434 849 | | koondkasumis | | | | | -------------------------------------------------------------------------------- | Vähemusosa osalus | 2.1 | 419 | 1 271 | 3 433 | | koondkasumis | | | | | -------------------------------------------------------------------------------- | | | 375 813 | 451 922 | 1 438 282 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsia puhaskasum, | 7 (e) | | | | | arvestatud emaettevõtja | | | | | | osalusest aruandeperioodi | | | | | | kasumis (kroonides) | | | | | -------------------------------------------------------------------------------- | Tava kasum aktsia kohta | | 2,72 | 3,27 | 10,40 | -------------------------------------------------------------------------------- | Lahustatud kasum aktsia | | 2,72 | 3,27 | 10,40 | | kohta | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Ärikasum enne kulumit | 2.1 | 516 740 | 576 352 | 2 348 360 | -------------------------------------------------------------------------------- | Kulum ja väärtuse langus | 2.1, 3 | (157 137) | (139 917) | (575 650) | -------------------------------------------------------------------------------- KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE -------------------------------------------------------------------------------- | | Lisad | 31. märts | 31. dets. | 31.märts | | | | 2009 | 2008 | 2008 | -------------------------------------------------------------------------------- | AKTIVA | | | | | -------------------------------------------------------------------------------- | Põhivara | | | | | -------------------------------------------------------------------------------- | Materiaalne põhivara | 3 | 2 569 050 | 2 590 170 | 2 392 029 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 3 | 214 560 | 228 312 | 206 191 | -------------------------------------------------------------------------------- | Investeeringud | 2.2, 5 | 9 748 | 10 575 | 11 742 | | sidusettevõtjatesse | | | | | -------------------------------------------------------------------------------- | Mitmesugused pikaajalised | | 111 774 | 95 680 | 116 072 | | nõuded | | | | | -------------------------------------------------------------------------------- | Põhivara kokku | 2.2 | 2 905 132 | 2 924 737 | 2 726 034 | -------------------------------------------------------------------------------- | Käbevara | | | | | -------------------------------------------------------------------------------- | Müügiootel põhivara | | - | - | 3 258 | -------------------------------------------------------------------------------- | Varud | 6 | 172 821 | 169 943 | 184 799 | -------------------------------------------------------------------------------- | Nõuded ostjate vastu ja | | 908 335 | 1 041 685 | 1 016 762 | | muud lühiajalised nõuded | | | | | -------------------------------------------------------------------------------- | Lühiajalised | | - | 500 000 | 17 222 | | finantsinvesteeringud | | | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | 1 220 644 | 363 099 | 1 393 882 | -------------------------------------------------------------------------------- | Käibevara kokku | 2.2 | 2 301 800 | 2 074 727 | 2 615 923 | -------------------------------------------------------------------------------- | AKTIVA KOKKU | 2.2 | 5 206 932 | 4 999 464 | 5 341 957 | -------------------------------------------------------------------------------- | OMAKAPITAL JA KOHUSTUSED | | | | | -------------------------------------------------------------------------------- | Omakapital | | | | | -------------------------------------------------------------------------------- | Emaettevõtja osalus | 7 | | | | | omakapitalis | | | | | -------------------------------------------------------------------------------- | Aktsiakapital | | 1 379 545 | 1 379 545 | 1 379 545 | -------------------------------------------------------------------------------- | Ülekurss | | 356 018 | 356 018 | 356 018 | -------------------------------------------------------------------------------- | Kohustuslik reserv | | 137 955 | 137 955 | 137 955 | -------------------------------------------------------------------------------- | Realiseerimata kursivahed | | 4 | 14 | - | -------------------------------------------------------------------------------- | Eelmiste perioodide | | 2 789 247 | 2 413 843 | 2 880 012 | | jaotamata kasum | | | | | -------------------------------------------------------------------------------- | Emaettevõtja osalus | | 4 662 769 | 4 287 375 | 4 753 530 | | omakapitalis kokku | | | | | -------------------------------------------------------------------------------- | Vähemusosa | 2.2, 7 | 8 454 | 8 035 | 12 751 | -------------------------------------------------------------------------------- | Omakapital kokku | | 4 671 223 | 4 295 410 | 4 766 281 | -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | | | -------------------------------------------------------------------------------- | Intressikandvad laenud ja | 8 | 5 872 | 5 872 | 749 | | võlakohustused | | | | | -------------------------------------------------------------------------------- | Pensionikohustused | 9 | 1 902 | 2 158 | 3 004 | -------------------------------------------------------------------------------- | Eraldised | 10 | 22 571 | 22 571 | 20 937 | -------------------------------------------------------------------------------- | Intressi mittekandvad | | 1 988 | 1 989 | - | | võlakohustused | | | | | -------------------------------------------------------------------------------- | Pikaajalised kohustused | 2.2 | 32 333 | 32 590 | 24 690 | | kokku | | | | | -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | | | -------------------------------------------------------------------------------- | Võlad tarnijatele ja muud | | 499 139 | 663 396 | 540 929 | | lühiajalised kohustused | | | | | -------------------------------------------------------------------------------- | Intressikandvad laenud ja | 8 | 2 749 | 4 061 | 2 560 | | võlakohustused | | | | | -------------------------------------------------------------------------------- | Pensionikohustused | 9 | 1 032 | 1 032 | 4 856 | -------------------------------------------------------------------------------- | Eraldised | 10 | 456 | 2 975 | 2 641 | -------------------------------------------------------------------------------- | Lühiajalised kohustused | 2.2 | 503 376 | 671 464 | 550 986 | | kokku | | | | | -------------------------------------------------------------------------------- | Kohustused kokku | | 535 709 | 704 054 | 575 676 | -------------------------------------------------------------------------------- | OMAKAPITAL JA KOHUSTUSED | 2.2 | 5 206 932 | 4 999 464 | 5 341 957 | | KOKKU | | | | | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | | Lisad | I kvartal | I kvartal | | | | 2009 | 2008 | -------------------------------------------------------------------------------- | Rahavoog äritegevusest | | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum | | 375 825 | 451 922 | -------------------------------------------------------------------------------- | Korrigeerimised: | | | | -------------------------------------------------------------------------------- | Põhivara kulum ja väärtuse langus | 2.1, 3 | 157 137 | 139 917 | -------------------------------------------------------------------------------- | (Kasum) / kahjum põhivara müügist | | (2 880) | (2 964) | -------------------------------------------------------------------------------- | Neto (tulud) / kulud | | 824 | 1 680 | | sidusettevõtjatelt | | | | -------------------------------------------------------------------------------- | Eraldised | | (2 519) | (1 830) | -------------------------------------------------------------------------------- | (Finantstulud) / kulud | | (25 275) | (25 536) | -------------------------------------------------------------------------------- | Muud mitterahalised korrigeerimised | | (308) | 64 | -------------------------------------------------------------------------------- | Rahavoog äritegevusest enne | | 502 804 | 563 253 | | käibekapitali muutusi | | | | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete ja | | 104 567 | 4 664 | | ettemaksete muutus | | | | -------------------------------------------------------------------------------- | Varude muutus | | (2 878) | (4 104) | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste ja | | (163 489) | (131 516) | | ettemaksete muutus | | | | -------------------------------------------------------------------------------- | Käibekapitali muutus | | (61 800) | (130 956) | -------------------------------------------------------------------------------- | Rahavood äritegevusest peale | | 441 004 | 432 297 | | käibekapitali muutusi | | | | -------------------------------------------------------------------------------- | Saadud intressid | | 12 215 | 16 459 | -------------------------------------------------------------------------------- | Makstud intressid | | (170) | (1 463) | -------------------------------------------------------------------------------- | Rahavoog äritegevusest kokku | 2.2 | 453 049 | 447 293 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | | -------------------------------------------------------------------------------- | Materiaalse ning immateriaalse | 2.2, 3 | (122 580) | (118 806) | | põhivara soetamine | | | | -------------------------------------------------------------------------------- | Materiaalse ja immateriaalse | | 3 219 | 3 232 | | põhivara müük | | | | -------------------------------------------------------------------------------- | Lühiajaliste finantsinvesteeringute | | 499 998 | 676 818 | | muutus, neto | | | | -------------------------------------------------------------------------------- | Muude pikaajaliste nõuete muutus, | | 24 929 | (10 996) | | neto | | | | -------------------------------------------------------------------------------- | Rahavoog investeerimistegevusest | 2.2 | 405 566 | 550 248 | | kokku | | | | -------------------------------------------------------------------------------- | Rahavood enne finantseerimistegevust | | 858 615 | 997 541 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | | -------------------------------------------------------------------------------- | Kapitalirendi põhiosa tagasimaksed | 8 | (1 205) | (590) | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | 2.2 | (1 205) | (590) | | kokku | | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalentide muutus | 2.2 | 857 410 | 996 951 | -------------------------------------------------------------------------------- | | | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid aasta | 2.2 | 363 099 | 396 778 | | alguses | | | | -------------------------------------------------------------------------------- | Raha ja rahaekvivalentide muutus | 2.2 | 857 410 | 996 951 | -------------------------------------------------------------------------------- | Valuutakursi muutuste mõju | 2.2 | 135 | 153 | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid perioodi | 2.2 | 1 220 644 | 1 393 882 | | lõpus | | | | --------------------------------------------------------------------------------
Teate sisu inglise keeles
Pealkiri
Consolidated Interim Report of AS Eesti Telekom I Quarter 2009, EEK
Teade
(Translation of the Estonian original) MANAGEMENT REPORT GENERAL INFORMATION The principal activity of Eesti Telekom Group, the parent company of which is AS Eesti Telekom (registration number 10234957; address: Valge 16, 19095 Tallinn), is the provision of telecommunications services. Since 1999, the shares of AS Eesti Telekom have been listed on the Tallinn and London securities markets (OMX: ETLAT / LSE: EETD). Changes in the Eesti Telekom Group structure AS Eesti Telekom Council has given the Board approval to initiate mergers and enter into relevant agreements with the goal to simplify Eesti Telekom Group structure, by merging AS EMT with its 100% subsidiaries EMT Esindused AS and AS Mobile Wholesale, and Elion Ettevõtted AS with its 100% subsidiary Elion Esindus AS. The aim is to achieve greater efficiency in business processes. The mergers are planned to be concluded by August 2009 at the latest. The planned merger will not cause any changes in financial reporting as the results of EMT Group and Elion Group are already consolidated. As of 11 February 2009, BiTA Service Management has merged with IT Koolituskeskuse OÜ. Ownership structure of AS Eesti Telekom During the first quarter of 2009, there were no significant changes in the structure of the AS Eesti Telekom shareholders. The Eesti Telekom majority shareholder TeliaSonera AB (through Baltic Tele AB) continues to own 60.12% of the company's shares. As of the end of the first quarter, the ratio of freely traded shares converted to GDRs was 12.71%. Of these, 12.81% were converted into GDRs traded on the London Stock Exchange. As of 31 March 2009, the 10 largest shareholders in AS Eesti Telekom were: -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 31 March 2009 | -------------------------------------------------------------------------------- | | No of shares | Participation | -------------------------------------------------------------------------------- | | Changes since | | | 31 December | | | 2008 | -------------------------------------------------------------------------------- | Baltic Tele AB | 82,936,29 | 60.12% | 0 | | | 9 | | | -------------------------------------------------------------------------------- | Ministry of Finance | 33,346,46 | 24.17% | 0 | | | 4 | | | -------------------------------------------------------------------------------- | Development Fund | 4,138,636 | 3.00% | 0 | -------------------------------------------------------------------------------- | SEB clients | 2,818,746 | 2.04% | (45,988) | -------------------------------------------------------------------------------- | Deutsche Bank (GDR accounts) | 2,246,838 | 1.63% | (17,382) | -------------------------------------------------------------------------------- | ING Luxembourg S.A. | 2,055,783 | 1.49% | 0 | -------------------------------------------------------------------------------- | Clearstream Banking Luxembourg | 578,301 | 0.42% | (6,675) | | S.A. clients | | | | -------------------------------------------------------------------------------- | UniCredit Bank Austria AG | 472,148 | 0.34% | (24,238) | -------------------------------------------------------------------------------- | Mellon Treaty Omnibus | 363,473 | 0.26% | (28,679) | -------------------------------------------------------------------------------- | State Street Bank and Trust | 335,945 | 0.24% | 0 | | Omnibus Account | | | | -------------------------------------------------------------------------------- AS Eesti Telekom shares In the first quarter of 2009, the price of AS Eesti Telekom shares increased by 18.97%. The share price at the beginning of the quarter was 64.15 EEK and 72.60 EEK at the end of the quarter. The highest and lowest share prices during the reporting period were 82.14 EEK and 64.15 EEK respectively. The turnover for the reporting period was 212 million EEK. The price of AS Eesti Telekom shares in the first quarter of 2009 has moved on higher levels than the indexes of OMX Tallinn and OMX Tallinn 10 tradeable shares. BUSINESS ACTIVITIES Management commentary: The Group's sales revenues in the first quarter were primarily impacted by regulations (European Union regulations applied on the mobile sector) and the economic downturn (reduction of sales of goods and changes in consumer behavior). At the same time, there is a continuing growth of mobile postpaid, mobile and fixed broadband and TV customers. Thanks to efficiency programs that were previously implemented it was possible to compensate the loss of revenues by a proportional decrease of expenses and to maintain the EBITDA margin. Significant financial indicators Eesti Telekom Group -------------------------------------------------------------------------------- | | Q1 2009 | Q1 2008 | Change, % | -------------------------------------------------------------------------------- | Total revenues, million EEK | 1,336 | 1,484 | (10.0) | -------------------------------------------------------------------------------- | EBITDA, million EEK | 517 | 576 | (10.3) | -------------------------------------------------------------------------------- | Margin, % | 38.7 | 38.8 | | -------------------------------------------------------------------------------- | EBIT, million EEK | 360 | 436 | (17.6) | -------------------------------------------------------------------------------- | Margin, % | 26.9 | 29.4 | | -------------------------------------------------------------------------------- | EBT, million EEK | 376 | 452 | (16.8) | -------------------------------------------------------------------------------- | Profit for the period, million EEK | 376 | 452 | (16.8) | -------------------------------------------------------------------------------- | Basic earnings per share, EEK | 2.72 | 3.27 | (16.7) | -------------------------------------------------------------------------------- | Comprehensive income for the period, | 376 | 452 | (16.8) | | million EEK | | | | -------------------------------------------------------------------------------- | CAPEX, million EEK | 123 | 119 | 3.2 | -------------------------------------------------------------------------------- | Net gearing, % | (25.9) | (29.5) | | -------------------------------------------------------------------------------- | ROA, % | 7.4 | 8.7 | | -------------------------------------------------------------------------------- | ROE, % | 8.4 | 10.0 | | -------------------------------------------------------------------------------- Mobile communications segment -------------------------------------------------------------------------------- | | Q1 2009 | Q1 2008 | Change, % | -------------------------------------------------------------------------------- | Total revenues, million EEK | 740 | 874 | (15.4) | -------------------------------------------------------------------------------- | EBITDA, million EEK | 274 | 329 | (16.8) | -------------------------------------------------------------------------------- | Margin, % | 37.0 | 37.6 | | -------------------------------------------------------------------------------- | EBIT, million EEK | 206 | 266 | (22.6) | -------------------------------------------------------------------------------- | Margin, % | 27.9 | 30.4 | | -------------------------------------------------------------------------------- | EBT, million EEK | 216 | 273 | (20.6) | -------------------------------------------------------------------------------- | Profit for the period, million EEK | 216 | 273 | (20.6) | -------------------------------------------------------------------------------- | Comprehensive income for the period, | 216 | 273 | (20.6) | | million EEK | | | | -------------------------------------------------------------------------------- | CAPEX, million EEK | 75 | 57 | 30.8 | -------------------------------------------------------------------------------- | ROA, % | 9.3 | 12.1 | | -------------------------------------------------------------------------------- | ROE, % | 11.6 | 15.6 | | -------------------------------------------------------------------------------- Broadband services segment -------------------------------------------------------------------------------- | | Q1 2009 | Q1 2008 | Change, % | -------------------------------------------------------------------------------- | Total revenues, million EEK | 727 | 764 | (4.8) | -------------------------------------------------------------------------------- | EBITDA, million EEK | 248 | 247 | 1.0 | -------------------------------------------------------------------------------- | Margin, % | 34.1 | 32.3 | | -------------------------------------------------------------------------------- | EBIT, million EEK | 171 | 176 | (2.7) | -------------------------------------------------------------------------------- | Margin, % | 23.6 | 23.1 | | -------------------------------------------------------------------------------- | EBT, million EEK | 171 | 177 | (3.6) | -------------------------------------------------------------------------------- | Profit for the period, million EEK | 171 | 177 | (3.6) | -------------------------------------------------------------------------------- | Comprehensive income for the period, | 171 | 177 | (3.6) | | million EEK | | | | -------------------------------------------------------------------------------- | CAPEX, million EEK | 45 | 56 | (20.5) | -------------------------------------------------------------------------------- | ROA, % | 6.3 | 6.3 | | -------------------------------------------------------------------------------- | ROE, % | 8.0 | 8.3 | | -------------------------------------------------------------------------------- IT services segment -------------------------------------------------------------------------------- | | Q1 2009 | Q1 2008 | Change, % | -------------------------------------------------------------------------------- | Total revenues, million EEK | 62 | 79 | (22.1) | -------------------------------------------------------------------------------- | EBITDA, million EEK | (3) | 4 | N/A | -------------------------------------------------------------------------------- | Margin, % | (5.3) | 4.9 | | -------------------------------------------------------------------------------- | EBIT, million EEK | (16) | (2) | N/A | -------------------------------------------------------------------------------- | Margin, % | (25.3) | (2.9) | | -------------------------------------------------------------------------------- | EBT, million EEK | (16) | (3) | N/A | -------------------------------------------------------------------------------- | Profit for the period, million EEK | (16) | (3) | N/A | -------------------------------------------------------------------------------- | Comprehensive income for the period, | (16) | (3) | N/A | | million EEK | | | | -------------------------------------------------------------------------------- | CAPEX, million EEK | 3 | 5 | (42.9) | -------------------------------------------------------------------------------- | ROA, % | (8.9) | (1.7) | | -------------------------------------------------------------------------------- | ROE, % | (14.0) | (3.3) | | -------------------------------------------------------------------------------- Sales revenues, operating costs, and profit The Group's sales revenues reached 1,336 million EEK in the first quarter of 2009 (1st quarter 2008: 1,484 million EEK), and were primarily impacted by regulations that the European Union applies to the mobile sector and by the economic downturn. Mobile communications segment The consolidated turnover for the first quarter of 2009 reached 740 million EEK, decreasing by 15% compared to the first quarter of 2008 (1st quarter 2008: 874 million EEK). The reason for the decrease in total revenues was a reduction in revenues from call services caused by a drop in retail and interconnection prices, which was partially compensated by the growth of volumes for mobile data communications and subcontracting services. Compared to a year ago, a decrease was also experienced in revenues received from retailing and wholesaling during the first quarter, which was caused by changes in consumer behavior. In addition, call minutes initiated by the customers, as well as the number of call minutes entering the EMT network decreased by 2% compared to the first quarter of 2008, which resulted from the customers' wish to limit consumption. As of the end of the first quarter of 2009, the EMT customer base was larger by 14 thousand compared to the previous year, reaching 766 thousand active SIM cards (31 March 2008: 751 thousand cards). Compared to the previous year, the number of contractual customers increased by 15 thousand, thereby reaching 488 thousand by the end of the first quarter of 2009 and the number of active users of pre-paid cards remained unchanged at 278 thousand. EMT assesses its market share of active SIM cards to be 47%. The estimated penetration of active cards in Estonia is 120%. In March EMT introduced an additional feature for the SurfPort mobile portal, which enables modern mobile phones to access the majority of common websites from the Internet. To date, only WAP sites that were especially created for mobile phones could be accessed on phone screens. The new feature significantly expands the choice of information available to mobile users, without the need for a computer or new phone. Pursuant to the resolution of the Communications Board, the interconnection fee for AS EMT, Elisa Eesti AS and Tele2 Eesti AS was fixed at 1.66 EEK for the period 1 July 2007 to 30 June 2008. For the period 1 July 2008 to 30 June 2009, the Competition Board that is the legal successor to the Communications Board established a fee of 1.37 EEK per minute for the termination of voice calls in the mobile phone networks of AS EMT, Elisa Eesti AS and Tele2 Eesti AS. Based on a decision dated 26 March 2009, the Competition Board announced new market analysis results, based on which ProGroup Holding OÜ was declared an undertaking with significant market power in the market for the termination of voice calls in its mobile phone network, in addition to AS EMT, Elisa Eesti AS and Tele2 Eesti AS. According to the resolution, within the framework of the price control obligation, the given companies will be obligated to apply benchmark-based interconnection fees that correspond to the average in the European countries until 30 June 2012, which makes 1.36 EEK per minute the maximum tariff to be applicable as of 1 July 2009. The maximum rate for interconnection fees to be established for the periods 1 July 2010 to 30 June 2011 and 1 July 2011 to 30 June 2012 will be announced by the Competition Board at least 2 months before the beginning of the corresponding period, but pursuant to the decision, the decrease or increase in the interconnection fees to be applied shall not be more than 10%. The sales revenues for the broadband services segment reached 727 million EEK in the first quarter (1st quarter 2008: 764 million EEK). Compared to the same period in 2008, the greatest increase in revenues resulted from the sale of international interconnection services and triple-play solutions, which increased by 27% and 16% respectively. The increase in revenues from international interconnection services resulted primarily from increased minute volumes. At the same time, the revenues for call services earned from end consumers decreased by 16% due to a decrease in minute volumes. Based on a significant increase in the relative importance of the volume and revenues of triple-play solutions, the revenues from monthly fees for call connections and Internet connections decreased in the last quarter by 10% and 14% respectively. However, the revenues earned from the sale of triple-play solutions considerably exceeded the given decrease. The revenues from the broadband services segment decreased by 5% compared to the same period last year. The decrease in revenues was primarily related to a reduction in the sales volumes of telecommunications and IT goods. In the first quarter, the total number of Elion customers with permanent Internet connections increased during a year by 9,000 connections, reaching 176.5 thousand by the end of March (31 March 2008: 167.5 thousand). The company assesses that Elion's market share based on the permanent connections of private customers has not changed and continues to be 54%. In March, Elion started to standardize the product portfolio provided by triple-play solutions to Elion's private customers, by introducing two updated Kodulahendus products and gradually transferring existing Kodulahendus customers to the new products. Both products are triple-packages that differ based on the downloading speeds of the Internet connections and the number of television channels. The new Kodulahendus products include supplementary free television viewing locations and free WiFi use in the Elion WiFi network throughout Estonia. At the end of the March, Elion also launched a Start package with a 255-EEK monthly fee that fulfills basic triple package needs and thereby entered the discount service market with the new product. The Start package was introduced within the framework of the “Join us!” project designed to introduce people to the Internet, which was initiated in March by the Behold the World! Foundation and Eesti Telekom. The number of Elion triple-package users increased during a year by 23,500, reaching 82.1 thousand as of 31 March (31 March 2008: 58.6 thousand). By the end of the first quarter, Elion had 86.9 thousand IP and cable television customers (31 March 2008: 63.2 thousand). Elion assesses that the company's market share in the cable coverage market increased by 6% during the year, reaching 28% by the end of the first quarter (31 March 2008: 22%). In March, Elion started the sale of used IT equipment on the http://leiunurk.elion.ee website, which fulfills two goals for the company - preserves the environment by recycling high-quality equipment and enables computers to be purchased in a complicated economic situation. By the end of first quarter, the number of Elion's active call interfaces totaled 461 thousand (31 March 2008: 473 thousand interfaces). The reduction in number of call interfaces resulted from an expected reduction in the number of telephone connections in the private segment and a reduction in the number of pay phones throughout Estonia. Elion assesses its market share for call minutes initiated in the fixed network to be 80% (31 March 2008: 81%). The market share for local call minutes is 82% (31 March 2008: 83%), 68% for international call minutes (31 March 2008: 66%) and 70% for call minutes made to mobile phones (31 March 2008: 71%). The increase of the international call market share is explained by a change in accounting methods. The company assesses that the given market share has remained at the same level for the last few years. At the end of the March, Elion notified the other operators of price changes that will come into force on 1 May 2009 for interconnection services and access services. This is related to requirements based on domain-specific regulations that obligate Elion to review its prices at least once a year and are based on the expenditure statements for the previous period. The price changes according to service are primarily related to the reduction or increase of volumes. For instance, the monthly fee for copper pairs and the telephone network interconnection fees increased on average by 20% and 12% respectively. At the same time, the broadband access fees decreased by 9-20% depending on speed. The 2009 first quarter results for the IT services segment include the consolidated data from the companies of the IT Koolituskeskuse OÜ Group that was acquired in October 2008. In the first quarter of 2009, the sales revenues for the IT services segment reached 62 million EEK (1st quarter 2008: 79 million EEK). Compared to the same period in the previous year, the consolidated sales revenues decreased by 22%, whereas the sales revenues for IT goods decreased by 53% and the sales revenues for permanent services decreased by 6%, and the sales revenues for project-based services increased by 30%. The sales revenues for services provided within the Eesti Telekom Group decreased by 27% compared to the first quarter of the previous year, while the sales revenues for services provided to customers outside the Group increased by 13%. The reduction of the national budget by 8 billion EEK in 2009 had a significant impact on the Estonian IT sector. A number of procurements have been postponed or the results of completed procurements cancelled. The sales turnover for infrastructure solutions in the first quarter was significantly smaller than in the same period last year (15 million EEK vs. 33 million EEK). The reason is the general decline in the IT market. Currently, the same recessionary trend is being experienced by all IT companies that deal with merchandise sales. In the project business, important projects in the first quarter included the introduction of document management at Estonian Post and the continued development of various information systems at Piletilevi, the Unemployment Insurance Fund and Ragn-Sells. In the field of permanent services, AS MicroLink Eesti won the procurement for the maintenance of computer workstations organized by the Tallinn City Office in the first quarter. In addition, during the first quarter, MicroLink Eesti started to provide server hosting services to the East-Tallinn Central Hospital, the Harku Rural Municipality Government and Estonian Railways. The operating costs of the Eesti Telekom Group decreased by 10% in the first quarter of 2009 compared to the same period of 2008, reaching 825 million EEK (1st quarter 2008: 913 million EEK). The operating costs in the mobile communications segment decreased by 14% compared to the first quarter of 2008 to 468 million EEK (1st quarter 2008: 547 million EEK). The greatest decrease was in the operating costs related to retailing and wholesaling, which corresponds to the drop in merchandise sales turnovers. A decrease was also experienced by interconnection costs based on a drop in interconnection prices. The efficiency programs also had an impact on the decrease of the operating costs that were related to a reduction in the number of workers, as well as marketing, IT and network costs. The operating costs in the broadband services segment decreased during the last quarter by 7% compared to the same period in 2008, reaching 482 million EEK (1st quarter 2008: 520 million EEK). The principal part of the decrease in operating costs resulted from a decrease in direct sales costs related to a decline in retail volumes. A significant impact on the decrease in operating costs also resulted from the efficiency projects initiated last year, which are related to a reduction in maintenance costs for network resources, IT and transport costs and also to a reduction in the number of workers in the group. The operating costs in the IT services segment decreased in the first quarter by 14% compared to the same period last year, reaching 65 million EEK (1st quarter 2008: 76 million EEK). The operating costs for the quarter were affected by increased costs accompanying the consolidation of the IT Koolituskeskus, as an independent company, whereby the operating costs of AS MicroLink Eesti increased by 3%. The Eesti Telekom Group EBITDA decreased in the first quarter of 2009 by 10% compared to the same period in the previous year, reaching 517 million EEK (1st quarter 2008: 576 million EEK). The EBITDA in the mobile communications services segment decreased by 17% in the first quarter compared to the same period last year. Since the decrease in the operating costs were almost proportional to the reduction in turnover, the EBITDA margin for the mobile communications services segment has decreased by less than one percent. In the first quarter, the EBITDA for the broadband services segment increased by 1% compared to the same period in the previous year, reaching 248 million EEK (1st quarter 2008: 247 million EEK). The EBITDA for the IT services segment in the first quarter of 2009 was -3 million EEK (1st quarter 2008: profit of 4 million EEK). The Group's EBITDA margin in the first quarter of 2009 was 39%, which remained at the same level as the margin for the same period in the previous year. The Group's depreciation costs reached 157 million EEK in the first quarter of 2009, by increasing 12% compared to the same period in 2008 (1st quarter 2008: 140 million EEK). The greatest increase in depreciation costs resulted from the IT services segment where depreciation costs reached 12 million EEK in the first quarter of 2009 (1st quarter 2008: 6 million EEK). This was caused by a discount of 6.4 million EEK in February of this year on the goodwill recognized on the balance sheet after the acquisition of IT Koolituskeskuse OÜ. In the first quarter, the Eesti Telekom Group earned EBIT of 360 million EEK, which was a decrease of 18% compared to the same period in the previous year (1st quarter 2008: 436 million EEK). The profit for the Eesti Telekom Group in the first quarter of 2009 was 376 million EEK (1st quarter 2008: 452 million EEK). The basic earnings per share were 2.72 EEK (1st quarter 2008: 3.27 EEK). The Group's comprehensive income in first quarter of 2009 was 376 million EEK (1st quarter 2008: 452 million EEK). Statement of financial position and cash flows As of 31 March 2009, the Eesti Telekom Group balance sheet totaled 5,207 million EEK (31 December 2008: 4,999 million EEK). Compared to the beginning of the year, the non-current assets have decreased by 20 million EEK, the balance of which reached 2,905 million EEK by the end of the quarter. During first three months of the year, the Group's current assets have increased by 227 million EEK, reaching 2,302 million EEK by the end of March (31 December 2008: 2,075 million EEK). Cash and cash equivalents, as well as short-term financial investments have increased by 358 million EEK, reaching 1,221 million EEK by the end of the period. As of 31 March 2009, the Eesti Telekom Group equity was 4,671 million EEK, which is 376 million EEK more than at the end of 2008 (31 December 2008: 4,295 million EEK). The increase in equity resulted from a first-quarter profit. As of the end of March, non-current liabilities totaled 32 million EEK (31 December 2008: 33 million EEK) and current liabilities totaled 503 million EEK (31 December 2008: 671 million EEK). The net debt of the Eesti Telekom Group at the end of the first quarter was -1,212 million EEK and the net gearing ratio was -25.9% (31 December 2008: -853 million EEK and -20%). The Eesti Telekom Group cash flow from operating activities during the first three months of 2009 was 453 million EEK (3 months of 2008: 447 million EEK). The Group's cash flow from investment activities was 406 million EEK (3 months of 2008: 550 million EEK). The cash flow into the acquisition of tangible and intangible fixed assets during the first three months was 123 million EEK (3 months of 2008: 119 million EEK). In the first quarter of 2009, the mobile communications segment invested 75 million EEK (1st quarter 2008: 57 million EEK). In mobile communications, in addition to the constant development of the GSM network, a developmental priority was the implementation of technologies to support high-speed mobile data communications. The majority of data communications usage by EMT customers occurs in the 3G network, which enables the use of high-quality and rapid Internet connections at speeds approaching those of ADSL at conveniently manageable prices. Since EMT is the only operator in Estonia that provides EDGE data communications throughout its GSM coverage area, then investments in new base stations is primarily directed at expanding external and internal 3G coverage in cities and town. At the same time, the constant improvement of the GSM network continued. Investments into the broadband services segment totaled 45 million EEK (1st quarter 2008: 56 million EEK). The principal part of the capital volumes were related to the development of network resources, changes in the product portfolio and the improvement of and expansion of the availability of the triple-service packages. In the first quarter of 2009, the IT services segment invested 3 million EEK into fixed assets (1st quarter 2008: 5 million EEK). During three months, the Eesti Telekom Group cash flow used in financing activities was 1 million EEK, similarly to the first quarter of 2008. Shareholders' general meeting The regular general meeting of AS Eesti Telekom shareholders will take place on 20 May 2009 at 12 pm in Tallinn at Valge 16. Starting on 27 April 2009, the 2008 annual report and draft resolutions for the general meeting will be available on the Internet at http://www.telekom.ee and at Eesti Telekom at Valge 16, Tallinn on workdays from 10 am to 2 pm. Questions related to the general meeting can be submitted through the AS Eesti Telekom website, by telephone at 6 311 212, or by e-mail to [email protected]. Dividends The Management Board of AS Eesti Telekom will make a proposal at the shareholders' general meeting to distribute and pay out 1,449 million EEK or 10.50EEK per share as dividends, based on the number of dividend-paying shares, or 137,954,528 shares. In 2008, 1,449 million EEK was distributed as dividends among the shareholders, or 10.50 EEK per share. Definitions EBITDA margin = EBITDA / Net sales x 100% EBIT margin = EBIT / Net sales x 100% Net debt = Interest bearing liabilities - cash and cash equivalents - short term investments Net gearing = Net debt / Owner's equity x 100% ROA = Profit for the period / Average total assets x 100% ROE = Profit before tax / Average equity x 100% Basic earnings per share = Profit for the period / Average number of shares CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME -------------------------------------------------------------------------------- | | Notes | I Quarter | I Quarter | 2008 | | | | 2009 | 2008 | | -------------------------------------------------------------------------------- | Net sales | 2.1, | 1,336,492 | 1,484,181 | 6,189,597 | | | 2.3 | | | | -------------------------------------------------------------------------------- | Cost of production | 2.1 | (761,334) | (830,495) | (3,532,64 | | | | | | 8) | -------------------------------------------------------------------------------- | Gross profit | 2.1 | 575,158 | 653,686 | 2,656,949 | -------------------------------------------------------------------------------- | Sales, administrative, and | 2.1 | (220,537) | (221,982) | (907,058) | | research & development | | | | | | expenses | | | | | -------------------------------------------------------------------------------- | Other operating revenues | 2.1 | 7,552 | 6,285 | 31,317 | -------------------------------------------------------------------------------- | Other operating expenses | 2.1 | (2,570) | (1,554) | (8,498) | -------------------------------------------------------------------------------- | Operating profit | 2.1 | 359,603 | 436,435 | 1,772,710 | -------------------------------------------------------------------------------- | Finance income | | 17,395 | 17,751 | 55,185 | -------------------------------------------------------------------------------- | Finance costs | | (349) | (584) | (871) | -------------------------------------------------------------------------------- | Finance income, net | 2.1 | 17,046 | 17,167 | 54,314 | -------------------------------------------------------------------------------- | Net income / (expenses) | 2.1 | (824) | (1,680) | (2,847) | | from associated companies | | | | | -------------------------------------------------------------------------------- | Profit before tax | 2.1 | 375,825 | 451,922 | 1,824,177 | -------------------------------------------------------------------------------- | Income tax on dividends | 2.1 | - | - | (385,912) | -------------------------------------------------------------------------------- | Profit for the period | 2.1 | 375,825 | 451,922 | 1,438,265 | -------------------------------------------------------------------------------- | Other comprehensive income | | | | | -------------------------------------------------------------------------------- | Exchange differences on | 2.1 | (12) | - | 17 | | translating foreign | | | | | | subsidiaries | | | | | -------------------------------------------------------------------------------- | Other comprehensive income | 2.1 | (12) | - | 17 | | for the period | | | | | -------------------------------------------------------------------------------- | Total comprehensive income | 2.1 | 375,813 | 451,922 | 1,438,282 | -------------------------------------------------------------------------------- | Profit attributable to: | | | | | -------------------------------------------------------------------------------- | Equity holders of the | 2.1 | 375,404 | 450,651 | 1,434,835 | | parent | | | | | -------------------------------------------------------------------------------- | Minority interest | 2.1 | 421 | 1,271 | 3,430 | -------------------------------------------------------------------------------- | | | 375,825 | 451,922 | 1,438,265 | -------------------------------------------------------------------------------- | Comprehensive income | | | | | | attributable to: | | | | | -------------------------------------------------------------------------------- | Equity holders of the | 2.1 | 375,394 | 450,651 | 1,434,849 | | parent | | | | | -------------------------------------------------------------------------------- | Minority interest | 2.1 | 419 | 1,271 | 3,433 | -------------------------------------------------------------------------------- | | | 375,813 | 451,922 | 1,438,282 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share for | 7 (e) | | | | | profit attributable to the | | | | | | equity holders of the | | | | | | parent during the | | | | | | reporting period | | | | | | (expressed in EEK) | | | | | -------------------------------------------------------------------------------- | Basic earnings per share | | 2.72 | 3.27 | 10.40 | -------------------------------------------------------------------------------- | Diluted earnings per share | | 2.72 | 3.27 | 10.40 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EBITDA | 2.1 | 516,740 | 576,352 | 2,348,360 | -------------------------------------------------------------------------------- | Depreciation, amortization | 2.1, 3 | (157,137) | (139,917) | (575,650) | | and write-downs | | | | | -------------------------------------------------------------------------------- CONSOLIDATED STATEMENT OF FINANCIAL POSITION -------------------------------------------------------------------------------- | | Notes | 31 March | 31 December | 31 March | | | | 2009 | 2008 | 2008 | -------------------------------------------------------------------------------- | ASSETS | | | | | -------------------------------------------------------------------------------- | Non-current assets | | | | | -------------------------------------------------------------------------------- | Property, plant and | 3 | 2,569,050 | 2,590,170 | 2,392,029 | | equipment | | | | | -------------------------------------------------------------------------------- | Intangible fixed assets | 3 | 214,560 | 228,312 | 206,191 | -------------------------------------------------------------------------------- | Investments in associates | 2.2, 5 | 9,748 | 10,575 | 11,742 | -------------------------------------------------------------------------------- | Other financial fixed | | 111,774 | 95,680 | 116,072 | | assets | | | | | -------------------------------------------------------------------------------- | Total non-current assets | 2.2 | 2,905,132 | 2,924,737 | 2,726,034 | -------------------------------------------------------------------------------- | Current assets | | | | | -------------------------------------------------------------------------------- | Assets classified as | | - | - | 3,258 | | held-for-sale | | | | | -------------------------------------------------------------------------------- | Inventories | 6 | 172,821 | 169,943 | 184,799 | -------------------------------------------------------------------------------- | Trade and other | | 908,335 | 1,041,685 | 1,016,762 | | receivables | | | | | -------------------------------------------------------------------------------- | Short-term investments | | - | 500,000 | 17,222 | -------------------------------------------------------------------------------- | Cash and cash equivalents | | 1,220,644 | 363,099 | 1,393,882 | -------------------------------------------------------------------------------- | Total current assets | 2.2 | 2,301,800 | 2,074,727 | 2,615,923 | -------------------------------------------------------------------------------- | TOTAL ASSETS | 2.2 | 5,206,932 | 4,999,464 | 5,341,957 | -------------------------------------------------------------------------------- | EQUITY AND LIABILITIES | | | | | -------------------------------------------------------------------------------- | Equity | | | | | -------------------------------------------------------------------------------- | Capital and reserves | 7 | | | | | attributable to equity | | | | | | holders of the parent | | | | | -------------------------------------------------------------------------------- | Share capital | | 1,379,545 | 1,379,545 | 1,379,545 | -------------------------------------------------------------------------------- | Share premium | | 356,018 | 356,018 | 356,018 | -------------------------------------------------------------------------------- | Statutory legal reserve | | 137,955 | 137,955 | 137,955 | -------------------------------------------------------------------------------- | Retained earnings | | 4 | 14 | - | -------------------------------------------------------------------------------- | Net profit for the period | | 2,789,247 | 2,413,843 | 2,880,012 | -------------------------------------------------------------------------------- | Total capital and reserves | | 4,662,769 | 4,287,375 | 4,753,530 | | attributable to equity | | | | | | holders of the parent | | | | | -------------------------------------------------------------------------------- | Minority interest | 2.2, 7 | 8,454 | 8,035 | 12,751 | -------------------------------------------------------------------------------- | Total equity | | 4,671,223 | 4,295,410 | 4,766,281 | -------------------------------------------------------------------------------- | Non-current liabilities | | | | | -------------------------------------------------------------------------------- | Interest bearing loans and | 8 | 5,872 | 5,872 | 749 | | borrowings | | | | | -------------------------------------------------------------------------------- | Retirement benefit | 9 | 1,902 | 2,158 | 3,004 | | obligations | | | | | -------------------------------------------------------------------------------- | Provisions | 10 | 22,571 | 22,571 | 20,937 | -------------------------------------------------------------------------------- | Non-interest bearing | | 1,988 | 1,989 | - | | liabilities | | | | | -------------------------------------------------------------------------------- | Total non-current | 2.2 | 32,333 | 32,590 | 24,690 | | liabilities | | | | | -------------------------------------------------------------------------------- | Current liabilities | | | | | -------------------------------------------------------------------------------- | Trade and other payables | | 499,139 | 663,396 | 540,929 | -------------------------------------------------------------------------------- | Interest bearing loans and | 8 | 2,749 | 4,061 | 2,560 | | borrowings | | | | | -------------------------------------------------------------------------------- | Retirement benefit | 9 | 1,032 | 1,032 | 4,856 | | obligations | | | | | -------------------------------------------------------------------------------- | Provisions | 10 | 456 | 2,975 | 2,641 | -------------------------------------------------------------------------------- | Total current liabilities | 2.2 | 503,376 | 671,464 | 550,986 | -------------------------------------------------------------------------------- | Total liabilities | | 535,709 | 704,054 | 575,676 | -------------------------------------------------------------------------------- | TOTAL EQUITY AND | 2.2 | 5,206,932 | 4,999,464 | 5,341,957 | | LIABILITIES | | | | | -------------------------------------------------------------------------------- CONSOLIDATED CASH FLOW STATEMENT -------------------------------------------------------------------------------- | | Notes | I Quarter | I Quarter | | | | 2009 | 2008 | -------------------------------------------------------------------------------- | Operating activities | | | | -------------------------------------------------------------------------------- | Net profit for the period | | 375,825 | 451,922 | -------------------------------------------------------------------------------- | Adjustments for: | | | | -------------------------------------------------------------------------------- | Depreciation, amortisation and | 2.1, 3 | 157,137 | 139,917 | | impairment of fixed and intangible | | | | | assets | | | | -------------------------------------------------------------------------------- | (Profit) / loss from sales and | | (2,880) | (2,964) | | discards of fixed assets | | | | -------------------------------------------------------------------------------- | Net (income) / expenses from | | 824 | 1,680 | | associated companies | | | | -------------------------------------------------------------------------------- | Provisions | | (2,519) | (1,830) | -------------------------------------------------------------------------------- | Financial items | | (25,275) | (25,536) | -------------------------------------------------------------------------------- | Miscellaneous non-cash items | | (308) | 64 | -------------------------------------------------------------------------------- | Cash flow before change in working | | 502,804 | 563,253 | | capital | | | | -------------------------------------------------------------------------------- | Change in current receivables | | 104,567 | 4,664 | -------------------------------------------------------------------------------- | Change in inventories | | (2,878) | (4,104) | -------------------------------------------------------------------------------- | Change in current liabilities | | (163,489) | (131,516) | -------------------------------------------------------------------------------- | Change in working capital | | (61,800) | (130,956) | -------------------------------------------------------------------------------- | Cash flow after changes in working | | 441,004 | 432,297 | | capital | | | | -------------------------------------------------------------------------------- | Interest received | | 12,215 | 16,459 | -------------------------------------------------------------------------------- | Interest paid | | (170) | (1,463) | -------------------------------------------------------------------------------- | Cash flow from operating activities | 2.2 | 453,049 | 447,293 | -------------------------------------------------------------------------------- | Investing activities | | | | -------------------------------------------------------------------------------- | Intangible and tangible fixed assets | 2.2, 3 | (122,580) | (118,806) | | acquired | | | | -------------------------------------------------------------------------------- | Intangible and tangible fixed assets | | 3,219 | 3,232 | | divested | | | | -------------------------------------------------------------------------------- | Net change in interest-receivables | | 499,998 | 676,818 | | short maturities | | | | -------------------------------------------------------------------------------- | Net cash changes of other long-term | | 24,929 | (10,996) | | receivables | | | | -------------------------------------------------------------------------------- | Cash flow from investing activities | 2.2 | 405,566 | 550,248 | -------------------------------------------------------------------------------- | Cash flow before financing | | 858,615 | 997,541 | | activities | | | | -------------------------------------------------------------------------------- | Financing activities | | | | -------------------------------------------------------------------------------- | Repayment of finance lease | 8 | (1,205) | (590) | | liabilities | | | | -------------------------------------------------------------------------------- | Cash flow used in financing | 2.2 | (1,205) | (590) | | activities | | | | -------------------------------------------------------------------------------- | Cash flow for the year | 2.2 | 857,410 | 996,951 | -------------------------------------------------------------------------------- | | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at | 2.2 | 363,099 | 396,778 | | beginning of year | | | | -------------------------------------------------------------------------------- | Cash flow for the year | 2.2 | 857,410 | 996,951 | -------------------------------------------------------------------------------- | Effect of foreign exchange rate | 2.2 | 135 | 153 | | changes | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of | 2.2 | 1,220,644 | 1,393,882 | | period | | | | --------------------------------------------------------------------------------