Börsiteade
Eesti Telekom
Kategooria
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Manused
Kuupäev
23.04.2008 09:00:00
Pealkiri
AS Eesti Telekom Grupi 2008. aasta I kvartali vahearuanne, EUR
Teade
AS Eesti Telekom Grupi 2008. aasta I kvartali vahearuanne, EUR TEGEVUSE VAHEARUANNE Eesti Telekom Grupi 2008. aasta esimese kvartali tulemused rõõmustasid antud majanduslikus olukorras tugeva ärikasumiga enne põhivara amortisatsioonikulu ning ka puhaskasumi kasvuga. Vaatamata mobiilioperaatorite vahelisele sidumistasude olulisele langusele 2007. aasta lõpus, suutis mobiilside teenuste segment säilitada oma müügitulu võrreldes eelmise aasta sama perioodiga. Tugevat kasvu näitasid nii mobiilse andmeside tulud kui ka kasutajate arv. Lairiba teenuste segmendis on jätkuvalt kasvanud interneti püsiühenduste ning kolmikpakettide kasutajate arv. IT-teenuste segmendis suudeti võita mitmeid olulisi hankeid. Olulisemad finantsnäitajad Eesti Telekom grupp -------------------------------------------------------------------------------- | | I kv. 2008 | I kv. 2007 | Muutus, % | -------------------------------------------------------------------------------- | Müügitulu, mln EUR | 94,9 | 95,6 | -0,8 | -------------------------------------------------------------------------------- | Ärikasum enne põhivara kulumit, | 36,8 | 34,6 | 6,3 | | mln EUR | | | | -------------------------------------------------------------------------------- | Marginaal, % | 38,8 | 36,2 | | -------------------------------------------------------------------------------- | Ärikasum, mln EUR | 27,9 | 27,1 | 2,8 | -------------------------------------------------------------------------------- | Marginaal, % | 29,4 | 28,4 | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln | 28,9 | 28,1 | 2,8 | | EUR | | | | -------------------------------------------------------------------------------- | Perioodi puhaskasum, mln EUR | 28,9 | 28,1 | 2,8 | -------------------------------------------------------------------------------- | Baasaktsiakasum, EUR | 0,21 | 0,20 | 2,9 | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EUR | 7,6 | 7,5 | 1,5 | -------------------------------------------------------------------------------- | Netovõla suhe omakapitali, % | -29,5 | -35,6 | | -------------------------------------------------------------------------------- | ROA, % | 31,2 | 29,6 | | -------------------------------------------------------------------------------- | ROE, % | 43,0 | 44,0 | | -------------------------------------------------------------------------------- Mobiilside teenuste segment -------------------------------------------------------------------------------- | | I kv. 2008 | I kv. 2007 | Muutus, % | -------------------------------------------------------------------------------- | Müügitulu, mln EUR | 55,9 | 55,2 | 1,3 | -------------------------------------------------------------------------------- | Ärikasum enne põhivara kulumit, | 21,0 | 21,1 | -0,2 | | mln EUR | | | | -------------------------------------------------------------------------------- | Marginaal, % | 37,6 | 38,2 | | -------------------------------------------------------------------------------- | Ärikasum, mln EUR | 17,0 | 17,8 | -4,5 | -------------------------------------------------------------------------------- | Marginaal, % | 30,4 | 32,3 | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln | 17,4 | 18,3 | -4,7 | | EUR | | | | -------------------------------------------------------------------------------- | Perioodi puhaskasum, mln EUR | 17,4 | 18,3 | -4,7 | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EUR | 3,7 | 3,1 | 17,9 | -------------------------------------------------------------------------------- | ROA, % | 44,5 | 47,7 | | -------------------------------------------------------------------------------- | ROE, % | 75,4 | 78,7 | | -------------------------------------------------------------------------------- Lairiba teenuste segment -------------------------------------------------------------------------------- | | I kv. 2008 | I kv. 2007 | Muutus, % | -------------------------------------------------------------------------------- | Müügitulu, mln EUR | 48,8 | 44,6 | 9,5 | -------------------------------------------------------------------------------- | Ärikasum enne põhivara kulumit, | 15,8 | 13,7 | 14,7 | | mln EUR | | | | -------------------------------------------------------------------------------- | Marginaal, % | 32,3 | 30,8 | | -------------------------------------------------------------------------------- | Ärikasum, mln EUR | 11,3 | 9,9 | 13,9 | -------------------------------------------------------------------------------- | Marginaal, % | 23,1 | 22,2 | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln | 11,3 | 9,8 | 15,7 | | EUR | | | | -------------------------------------------------------------------------------- | Perioodi puhaskasum, mln EUR | 11,3 | 9,8 | 15,7 | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EUR | 3,6 | 4,1 | -12,3 | -------------------------------------------------------------------------------- | ROA, % | 24,3 | 20,2 | | -------------------------------------------------------------------------------- | ROE, % | 39,1 | 31,4 | | -------------------------------------------------------------------------------- IT-teenuste segment -------------------------------------------------------------------------------- | | I kv. 2008 | I kv. 2007 | Muutus, % | -------------------------------------------------------------------------------- | Müügitulu, mln EUR | 5,1 | 6,9 | -26,6 | -------------------------------------------------------------------------------- | Ärikasum enne põhivara kulumit, | 0,2 | 0,1 | 100,9 | | mln EUR | | | | -------------------------------------------------------------------------------- | Marginaal, % | 4,9 | 1,8 | | -------------------------------------------------------------------------------- | Ärikasum, mln EUR | -0,1 | -0,2 | -19,5 | -------------------------------------------------------------------------------- | Marginaal, % | -2,9 | -2,6 | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist, mln | -0,2 | 0,0 | N/A | | EUR | | | | -------------------------------------------------------------------------------- | Perioodi puhaskasum, mln EUR | -0,2 | 0,0 | N/A | -------------------------------------------------------------------------------- | Kapitalimahutused, mln EUR | 0,4 | 0,3 | 19,8 | -------------------------------------------------------------------------------- | ROA, % | 2,5 | 5,6 | | -------------------------------------------------------------------------------- | ROE, % | 4,0 | 6,6 | | -------------------------------------------------------------------------------- Müügitulud, tegevuskulud ja kasum Eesti Telekom grupi 2008. aasta esimese kvartali tulemused vastasid juhatuse ootustele. Grupi müügitulu 2008. aasta esimeses kvartalis ulatus 94,9 miljoni euroni (1. kvartal 2007: 95,6 miljonit eurot), ning oli peamiselt mõjutatud sidumistasude alanemisest (05.11.2007.a. fikseeriti riikliku regulaatori poolt mobiiltelefonivõrkudes sidumistasuks 0,11 eurot endise 0,16 euro asemel). Mobiilside teenuste segmendi konsolideeritud käive ulatus 55,9 miljoni euroni, kasvades 2007. aasta sama perioodiga võrreldes 1% (1. kvartal 2007: 55,2 miljonit eurot). Tagasihoidliku tulude kasvu taga oli sidumishindade langusest tingitud sidumistulude vähenemine, mida kompenseeris põhitegevuse poole pealt nii algatatud kui võrku sisenevate kõneminutite arvu kasv, mobiilse andmeside kasv ja allhanketeenuste mahu kasv. Võrreldes aastatagusega on lepinguliste klientide arv kasvanud 36 tuhande võrra, ulatudes 2008. aasta esimese kvartali seisuga 473 tuhandeni, samal ajal kui aktiivsete ettemaksega kaartide kasutajate arv on vähenenud aastaga 47 tuhande võrra, jäädes esimese kvartali lõpuks 278 tuhande tasemele. Erinevalt eelnenud aastast, ei toimunud 2008. aasta esimeses kvartalis nii agressiivset kliendihanget uute ettemaksega kaartide kasutajate leidmiseks. EMT hindab oma turuosa aktiivsete SIM-kaartide põhjal 47%-liseks. Hinnanguline aktiivsete kaartide penetratsioon Eestis on 118%. Tulude kasvu enim mõjutanud EMT klientide poolt algatatud kõneminutite arvu kasv 2008. aasta esimeses kvartalis ulatus 2007. aasta sama perioodiga võrreldes 3%-ni. Vastavalt Sideameti 21. märtsi 2006. a otsusele fikseeriti AS EMT-le, Elisa Eesti AS-ile ja Tele2 Eesti AS-ile perioodiks 01.07.2006-30.06.2007 mobiiltelefonivõrkudes häälkõne lõpetamise tasuks (sidumistasuks) 0,13 eurot minut ning perioodiks 01.07.2007-30.06.2008, vastavalt Sideameti 20.06 ja 22.06.2007.a. otsustele, 0,11 eurot. Kuna Elisa Eesti AS ja Tele2 Eesti AS vaidlustasid otsused kohtus ning esialgse õiguskaitse korras vastavate haldusaktide kehtivus peatati, püsisid kõigi kolme mobiilioperaatori sidumistasud kuni 05.11.2007.a. endisel, 0,16 eurot minut tasemel. 05.11.2007.a. jõustus Tallinna Ringkonnakohtu määrus, millega esialgne õiguskaitse tühistati ning nimetatud kuupäevast kohustusid kõik kolm mobiilioperaatorit rakendama sidumishinda tasemel 0,11 eurot. Elisa Eesti AS-i ja Tele2-e kohtuvaidlused Sideametiga jätkuvad, AS EMT osaleb vaidlustes kolmanda isikuna. 25.03.2008.a. otsusega kehtestas Sideameti õigusjärglane Konkurentsiamet mobiiltelefonivõrkudes häälkõne lõpetamise tasuks perioodiks 01.07.2008-30.06.2009 0,09 eurot minut. Mobiilsest internetist saadavad tulud näitasid jätkuvalt väga kiiret kasvu. Tänavu esimeses kvartalis ületasid AS EMT mobiilse andmeside tulud 2007. aasta sama perioodi tulusid enam kui 60 %. Samal ajal kümnekordistus edastatud andmemaht. AS-i EMT mobiilse andmeside kasutajate arv oli 2008. aasta märtsis 160 tuhat, mis on aastatagusega võrreldes 55 tuhande kasutaja võrra enam. Mobiilse andmeside populaarsuse kasvu on tinginud üheltpoolt uute kuutasuliste andmesidepakettide turule toomine 2007. a suvel ning teisepoolt 3G leviala jõuline laienemine, mis võimaldavad klientidel kasutada kvaliteetset ja kiiret andmesidet mugavamalt kontrollitavate kuludega. Kiire arengu just erasegmendis on kaasa toonud EMT Internet stardipakett, mis sisaldas tasuta kiiret 3,5G modemit EMT Internet 399 paketiga liituvatele püsiklientidele. See pakub kliendile võimaluse kasutada Eesti suurima levialaga 3G võrku ning ADSLi lähedase kiirusega internetiühendust. Teiseks on mobiilse interneti kasutajate arvule positiivselt mõjunud EMT SurfPorti kasutamisele kehtestatud hinnalagi 0,58 eurot päev. See on interneti kasutamise mobiiltelefonis teinud taskukohaseks paljudele klientidele. AS EMT, nagu ka teiste Euroopa Ühenduse mobiilioperaatorite suhtes, kehtib määrus, mille kohaselt alates 2007. aasta septembrikuust ei tohi Euroopa Ühenduse piires tehtavate väljuvate kõnede minutitariif ületada Euroopa Ühenduse poolt kehtestatud piirhindu. Seetõttu on viiendiku võrra langenud roaming-klientidelt saadav tulu. Mobiilside teenuste segmendi tulud telekommunikatsioonikaupade jae- ja hulgimüügist kasvasid 2008. aasta esimeses kvartalis 2007. aasta sama perioodiga võrreldes põhiliselt tänu laiemale kaubavalikule. Lairiba teenuste segmendi müügitulud kasvasid esimeses kvartalis võrreldes eelmise aasta sama perioodiga 10%, ulatudes 48,8 miljoni euroni (1. kvartal 2007: 44,6 miljonit eurot). Enim kasvasid tulud riigisisestelt sidumisteenustelt, mis suurenesid aastaga 73%. Kasv tulenes peamiselt kõnetransiidi mahu suurenemisest fiksvõrguoperaatorite võrkudest. Tulud rahvusvahelistelt kõneteenustelt suurenesid võrreldes 2007. aastaga 27%, seda põhiliselt mobiilivõrkudest algatatud kõnede arvu kasvu tulemusena. Sarnaselt varasemale jätkus ka lõppenud kvartalis lairibateenuste osas trend, milles kliendid asendavad üksikuid teenuseid komplekslahenduste pakettidega. Võrreldes eelmise aastaga kasvasid lairiba teenuste segmendi tulud kompleksteenuste ühendustasudest 35%. Kolmikpakettide kasutajate arv suurenes 5100 võrra, ulatudes 31. märtsi seisuga 58,6 tuhandeni (31. märts 2007: 29,8 tuhat). Esimese kvartali lõpuks oli Elionil 63,2 tuhat IP- ja kaabeltelevisiooni klienti (31. märts 2007: 32,4 tuhat). Kolmikpaketi populaarsusele on oluliselt kaasa aidanud ka pakutavate lisateenuste valik. Alates kaugvideolaenutuse teenuse turule toomisest eelmisel aastal on pidevalt täiendatud tellitavate filmide, seriaalide ja saadete valikut. Elioni interneti püsiühenduse klientide koguarv kasvas esimeses kvartalis 4400 ühenduse võrra, ulatudes märtsi lõpuks 167,5 tuhandeni (31. märts 2007: 148 tuhat). Ettevõtja hindab oma turuosaks eraklientide püsiühenduse põhjal 55%. Lisaks komplekslahenduste müügile on püsiühenduste kasvu toetanud ka Külatee 3 jätkuprojekti raames veebruaris valminud WiMax tugijaamad Võrumaal, Pärnumaal ja Raplamaal. Tulenevalt komplekslahenduste mahu ja tulude osakaalu olulisest kasvust langesid kõneühenduste ja internetiühenduste kuutasude tulud lõppenud kvartalis vastavalt 10% ja 14% võrra. Lairiba teenuste segmendi kõnetulud kasvasid esimeses kvartalis 2007. aasta sama perioodiga võrreldes kokku 10%. Nagu öeldud, tulenes kasv peamiselt riigisisesest kõnetransiidi ja mobiilivõrgust algatatud rahvusvaheliste kõnede mahu suurenemisest. Samas jätkus lõppenud kvartalis lõppklientidelt teenitavate kõnetulude langus. Võrreldes 2007. aasta sama perioodiga vähenesid riigisisestelt kõneteenustelt teenitavad tulud minutimahtude languse tõttu 10,5%. Elion hindab oma turuosa fikseeritud võrgus algatatud kõneminutitest 81%-liseks (märts 2007: 83%). Turuosa kohalike kõnede minutitest on 82,9 % (märts 2007: 84%), rahvusvaheliste kõnede minutitest 66,4% (märts 2007: 65%) ning mobiiltelefonidele tehtavate kõnede minutitest 71,2% (märts 2007: 69%). Esimese kvartali lõpuks ulatus Elioni aktiivsete kõneliideste arv 470 tuhande liideseni (31. märts 2007: 465 tuhat liidest). Kõneliideste arvu kasvu taga on eelkõige ettevõtja pidev aktiivne tegevus klientide hoidmisel ja uute klientide leidmisel. Märtsis alustas Elion Erakliendi VoIP kõneteenuse pakkumist, mis põhineb WiMax traadita interneti ühendusel. VoIP kõneteenuse kasutamiseks on kliendil vaja soetada IP-telefon või IP-adapter tavatelefoni ühendamiseks. Eesti majanduse üldise jahtumise tulemusena kahanes lairiba teenuste segmendi telekommunikatsiooni- ja IT-kaupade jaemüük esimeses kvartalis möödunud aastaga võrreldes 4% võrra. IT-teenuste segmendi müügitulu ulatus 2008. aasta esimeses kvartalis 5,1 miljoni euroni (1. kvartal 2007: 6,9 miljonit eurot). Seejuures IT-teenuste müügikäive kasvas 17% ja IT-kaupade müügikäive oli väiksem 52% võrra võrreldes eelmise aasta sama perioodiga. Viimane on tingitud sellest, et 2007. aasta 1. kvartalis tarnis ja paigaldas MicroLink Eesti Schengeni infosüsteemideks vajaliku baasinfrastruktuuri lahenduse, mis moodustas märkimisväärse osa antud perioodi riist- ja tarkvara müügitulust. Infrastruktuurilahenduste müügitulemustele avaldasid käesoleva aasta esimeses kvartalis suurimat mõju väljakuulutatud riigihangete oluline vähenemine võrreldes 2007. aasta esimese kvartaliga ning Justiitsministeeriumi töökohaarvutite tarne lükkumine teise poolaastasse. Olulisemad võidetud hanked esimeses kvartalis olid: Haigekassa ning Kaitseministeeriumi serverid, Sotsiaalministeeriumi kettamassiiv e-tervise projektidele ning Eesti Energia olemasoleva kettamassiivi laiendus. IT-teenuste segmendis toimus müügitulude kasv ootuspäraselt püsiteenuste suurenemise arvel. Olulisemad sõlmitud lepingud esimeses kvartalis olid: Empower Eesti kesksüsteemide ja töökohaarvutite haldus, Kultuuriministeeriumi URRAM infosüsteemi majutamine ning Erametsakeskuse infosüsteemide majutamine. Projektiäris oli esimeses kvartalis olulisemaks märksõnaks e-tervise projekti töödega jätkamine. Projekti lõpetamine toimub selle aasta juunis. MicroLink Eesti võitis ka kaks olulist dokumendihalduse hanget - Eesti Post ja Tallinna Linnavalitsus - mis tulemustes kajastuvad järgmistes perioodides. Eesti Telekom grupi tegevuskulud vähenesid 2008. aasta esimeses kvartalis 2007. aasta sama perioodiga võrreldes 5%, ulatudes 58,3 miljoni euroni (1. kvartal 2007: 61,1 miljonit eurot). Mobiilside teenuste segmendi tegevuskulud kasvasid 2007. aasta esimese kvartaliga võrreldes 2% ulatudes 34,9 miljoni euroni (1. kvartal 2007: 34,2 miljonit eurot). Enim on suurenenud jae- ja hulgikaubandusega seotud tegevuskulud, mis on kasvanud seoses kaubanduse müügikäibe suurenemisega. Lairiba teenuste segmendi tegevuskulud kasvasid esimeses kvartalis võrreldes eelmise aasta sama perioodiga 8%, ulatudes 33,2 miljoni euroni (1. kvartal 2007: 30,8 miljonit eurot). Enam kui pool tegevuskulude kasvust tulenes rahvusvaheliste kõneteenuste ja riigisiseste sidumisteenuste mahu suurenemisest põhjustatud otsemüügikulude kasvust. Teiseks peamiseks tegevuskulude kasvuteguriks olid personalikulud, mis suurenesid eelmise aastaga võrreldes 13,1%. Samas kahanesid kõnede mahu vähenemisest tulenevalt 38% võrra riigisiseste kõneteenuste otsemüügikulud. IT-teenuste segmendi tegevuskulud kahanesid esimeses kvartalis 29%, ulatudes 4,8 miljoni euroni (1. kvartal 2007: 6,8 miljonit eurot). Eesti Telekom grupi ärikasum enne põhivara amortisatsioonikulu ulatus 2008. aasta esimeses kvartalis 36,8 miljoni euroni, mis on 6% enam, kui 2007. aasta esimeses kvartalis (1. kvartal 2007: 34,6 miljonit eurot). Mobiilside teenuste segmendi ärikasum enne põhivara kulumit jäi esimeses kvartalis samale tasemele 2007. aasta sama perioodiga võrreldes. Lairiba teenuste segmendi ärikasum enne põhivara kulumit kasvas 15% ning IT- teenuste segmendi vastav näitaja kasvas umbes kaks korda. Grupi ärikasumi enne põhivara kulumit marginaal oli 2007. aasta esimeses kvartalis 39%, mis on veidi kõrgem 2007. aasta vastava perioodi marginaalist. Grupi amortisatsioonikulu ulatus 2008. aasta esimeses kvartalis 8,9 miljoni euroni, suurenedes 2007. aasta sama perioodiga võrreldes 19% (1. kvartal 2007: 7,5 miljonit eurot). Eesti Telekom grupp teenis esimeses kvartalis ärikasumit 27,9 miljonit eurot, mis on 3% enam, kui 2007. aasta esimeses kvartalis (1. kvartal 2007: 27,1 miljonit eurot). Grupi finantstulud (neto) kasvasid esimeses kvartalis 14% ulatudes 1,1 miljonit euroni (1. kvartal 2007: 1,0 miljonit eurot). Eesti Telekom grupi 2008. aasta esimese kvartali puhaskasum oli 28,9 miljonit eurot (1. kvartal 2007: 28,1 miljonit eurot). Tulu aktsia kohta teeniti 0,21 eurot (1. kvartal 2007: 0,20 eurot). Bilanss ja rahavood Eesti Telekom grupi bilansimaht oli 31. märtsi 2008. aasta seisuga 341,4 miljonit eurot (31. detsember 2007: 321,0 miljonit eurot). Aasta algusega võrreldes on 1,5 miljoni euro võrra kahanenud põhivara, mille jääk esimese kvartali lõpus ulatus 174,2 miljoni euroni. Grupi käibevara on kolme kuuga kasvanud 21,9 miljoni euro võrra, ulatudes märtsikuu lõpus 167,2 miljoni euroni (31. detsember 2007: 145,3 miljonit eurot). Raha ja raha ekvivalentide ning lühiajaliste finantsinvesteeringute jääk on kasvanud 20,5 miljoni euro võrra, ulatudes perioodi lõpuks 90,2 miljoni euroni. Kasvu taga on esimese kvartali tugevalt positiivne äritegevuse rahavoog. Eesti Telekom grupi omakapital oli 31. märtsi 2008. aasta seisuga 304,6 miljonit eurot, mis on 28,9 miljonit eurot enam kui 2007. aasta lõpus (31. detsember 2007: 275,7 miljonit eurot). Omakapitali kasv on tulenenud esimese kvartali kasumist. Grupi pikaajalised kohustused jäid aasta lõpuga samale tasemele, ulatudes 1,6 miljoni euroni (31. detsember 2007: 1,6 miljonit eurot). Lühiajalised kohustused kahanesid 8,4 miljoni euro võrra, ulatudes 35,2 miljoni euroni (31. detsember 2007: 43,7 miljonit eurot). Kahanemine tuleneb nii mobiilside kui ka lairiba teenuste segmendi võlgnevuse vähenemisest hankijate ees. Eesti Telekom grupi netovõlg oli esimese kvartali lõpus -90,0 miljonit eurot ja netovõla suhe omakapitali -30% (31. detsember 2007: -69,5 miljonit eurot ja -25%). Eesti Telekom grupi kolme kuu äritegevuse rahavoog oli 28,6 miljonit eurot (3 kuud 2007: 22,9 miljonit eurot). Grupi rahavoog investeerimistegevusest oli 35,2 miljonit eurot (3 kuud 2007: 50,0 miljonit eurot). Rahavoog materiaalse ja immateriaalse põhivara soetamisse oli esimesel kolmel kuul 7,6 miljonit eurot (3 kuud 2007: 7,5 miljonit eurot). Mobiilside teenuste segment on tänavu kolme kuuga investeerinud 3,7 miljonit eurot (3 kuud 2007: 3,1 miljonit eurot). Mobiilsides oli lisaks pidevale GSM-võrgu arendusele suureks arenguvaldkonnaks kiiret mobiilset andmesidet toetavate tehnoloogiate rakendamine. Esimeses kvartalis lõppes kõikides GSM-tugijaamades EDGE andmeside rakendamise projekt. Seega on nüüd kuni 200 kbit/s kiirusega EDGE'i võimalik kasutada kogu EMT GSM-levialas. Lairiba teenuste segmendi 2008. aasta kolme kuu investeeringud ulatusid 3,6 miljoni euroni (3 kuud 2007: 4,1 miljonit eurot). Põhiosa investeeringutest on jätkuvalt läinud teenuse kvaliteedi parandamisse, võrguressursi arendamisse ning interneti püsiühenduste ja DigiTV kättesaadavuse parendamisse. Märtsi alguses valmis Elionil Amsterdamis rahvusvaheline võrgusõlm, mis loodi tulenevalt vajadusest tõsta Londoni ja Frankfurdi ühenduste töökindlust. Amsterdami võrgusõlme rajamine võimaldab Elionil paremini jaotada võrguliiklust erinevate välisühenduste vahel ning pakkuda klientidele järjest kiiremat ligipääsu erinevatele internetivõrkudele. Uus võrgusõlm võimaldab arendada ka Elioni kõneside võrku. Varasemast on Elionil rahvusvahelised võrgusõlmed Londonis, Frankfurdis, Helsingis (kaks), Riias (kaks), Vilniuses, St. Peterburgis ja Moskvas. IT teenuste segment investeeris 2008. aasta esimeses kvartalis sarnaselt eelmise aasta samale perioodile 0,4 miljonit eurot valdavalt teenuste osutamiseks vajaliku infrastruktuuri laiendamiseks. Eesti Telekom grupi rahavoog finantseerimistegevusse oli 2008. aasta esimeses kvartalis 0,04 miljonit eurot (1. kvartal 2007: 0,03 miljonit eurot). AS- Eesti Telekom omanike struktuur 2008. aasta esimese kvartali jooksul suurendas oma osalust AS-is Eesti Telekom ettevõtja enamusomanik TeliaSonera AB (läbi oma tütarettevõtja Baltic Tele AB). TeliaSonera omandas täiendavalt 1 197 400 AS-i Eesti Telekom aktsiat kasvatades seeläbi oma osaluse 60,12%-ni. TeliaSonera osaluse suurenemine AS-is Eesti Telekom vähendas vabalt kaubeldavate aktsiate osakaalu (aktsiad, mis ei kuulu TeliaSonera AB-le, Eesti riigile või Arengufondile). Esimese kvartali lõpu seisuga oli vabalt kaubeldavate aktsiate osakaal 12,7% aktsiate koguarvust. Neist 19,81% oli konverteeritud Londoni Börsil kaubeldavateks GDR-ideks. AS-i Eesti Telekom 10 suuremat aktsionäri 31. märtsi 2008. aasta seisuga olid: -------------------------------------------------------------------------------- | | Väärtpaberite arv | Osalus | -------------------------------------------------------------------------------- | TeliaSonera AB | 82 936 299 | 60,12% | -------------------------------------------------------------------------------- | Eesti Vabariik | 33 346 464 | 24,17% | -------------------------------------------------------------------------------- | Eesti Arengufond | 4 138 636 | 3,00% | -------------------------------------------------------------------------------- | Deutsche Bank Trust Company (GDR-ide | 3 472 509 | 2,52% | | kontod) | | | -------------------------------------------------------------------------------- | Ing Lxembourg S. A. | 1 818 330 | 1,32% | -------------------------------------------------------------------------------- | Danske Bank kliendid | 1 367 436 | 0,99% | -------------------------------------------------------------------------------- | Skandinaviska Enskilda Banken AB | 1 311 850 | 0,95% | | kliendid | | | -------------------------------------------------------------------------------- | Bank Austria Creditanstalt AG kliendid | 1 028 730 | 0,75% | -------------------------------------------------------------------------------- | Clearstream Banking Luxembourg | 601 149 | 0,44% | | kliendid | | | -------------------------------------------------------------------------------- | Skandinaviska Enskilda Banken Finnish | 352 956 | 0,26% | | kliendid | | | -------------------------------------------------------------------------------- Aktsionäride üldkoosolek AS-i Eesti Telekom aktsionäride korraline üldkoosolek toimub 22. mail 2008. aastal algusega kell 12.00 aadressil Valge 16, Tallinn. 2007. aasta majandusaasta aruande ja üldkoosoleku otsuseprojektidega saab tutvuda alates 28. aprillist 2008. aastal internetiaadressil: http://www.telekom.ee ja Eesti Telekomis aadressil Valge 16, Tallin tööpäeviti kell 10.00 - 14.00. Üldkoosolekuga seonduvaid küsimusi võib esitada AS-i Eesti Telekom kodulehel, telefonil 6 311 212 või meilida aadressil mailbox@telekom.ee. Dividendid AS-i Eesti Telekom juhatus teeb aktsionäride üldkoosolekule ettepaneku jaotada aktsionäride vahel ning maksta aktsionäridele dividendidena välja 92,6 miljonit eurot ehk 0,67 eurot aktsia kohta, lähtudes dividendi-õiguslike aktsiate arvust, ehk 137 954 528 aktsiast. 2007. aastal jaotati aktsionäride vahel dividendidena 83,8 miljonit eurot ehk 0,61 eurot aktsia kohta. Definitsioonid Netovõlg - pika- ja lühiajalised intressikandvad laenud ja võlakohustused, miinus raha ja raha ekvivalendid ning lühiajalised investeeringud ROA - nelja viimase kvartali puhaskasumi suhe sama perioodi keskmisesse aktivate arvu ROE - nelja viimase kvartali maksustamiseelse kasumi suhe sama perioodi keskmisesse omakapitali KONSOLIDEERITUD KASUMIARUANNE Tuhandetes eurodes (EUR) -------------------------------------------------------------------------------- | | I kvartal | I kvartal | 2007 | | | 2008 | 2007 | | -------------------------------------------------------------------------------- | Müügitulu | 94 857 | 95 645 | 400 151 | -------------------------------------------------------------------------------- | Müüdud toodangu kulud | (53 078) | (54 400) | (226 426) | -------------------------------------------------------------------------------- | Brutokasum | 41 779 | 41 245 | 173 725 | -------------------------------------------------------------------------------- | Turustus-, üldhalduskulud ning | (14 187) | (14 250) | (57 521) | | uurimis- ja arendusväljaminekud | | | | -------------------------------------------------------------------------------- | Muud äritulud | 402 | 200 | 1 797 | -------------------------------------------------------------------------------- | Muud ärikulud | (99) | (67) | (404) | -------------------------------------------------------------------------------- | Ärikasum | 27 895 | 27 128 | 117 597 | -------------------------------------------------------------------------------- | Finantstulud | 1 134 | 1 001 | 3 108 | -------------------------------------------------------------------------------- | Finantskulud | (37) | (35) | (150) | -------------------------------------------------------------------------------- | Finantstulud, neto | 1 097 | 966 | 2 958 | -------------------------------------------------------------------------------- | Finantstulud / (-kulud) | (107) | 13 | (244) | | sidusettevõtjate aktsiatelt ja | | | | | osadelt, neto | | | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist | 28 885 | 28 107 | 120 311 | -------------------------------------------------------------------------------- | Dividendide tulumaks | - | - | (23 705) | -------------------------------------------------------------------------------- | Perioodi puhaskasum | 28 885 | 28 107 | 96 606 | -------------------------------------------------------------------------------- | Perioodi puhaskasumi jaotus: | | | | -------------------------------------------------------------------------------- | Emaettevõtja osalus kasumis | 28 803 | 27 999 | 96 194 | -------------------------------------------------------------------------------- | Vähemusosa osalus kasumis | 82 | 108 | 412 | -------------------------------------------------------------------------------- | | 28 885 | 28 107 | 96 606 | -------------------------------------------------------------------------------- | | | | | -------------------------------------------------------------------------------- | Aktsia puhaskasum, arvestatud | | | | | emaettevõtja osalusest | | | | | aruandeperioodi kasumis | | | | | (eurodes) | | | | -------------------------------------------------------------------------------- | Tava puhaskasum aktsia kohta | 0,21 | 0,20 | 0,70 | -------------------------------------------------------------------------------- | Lahustatud puhaskasum aktsia | 0,21 | 0,20 | 0,70 | | kohta | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Ärikasum enne kulumit | 36 837 | 34 646 | 149 315 | -------------------------------------------------------------------------------- | Kulum ja väärtuse langus | (8 942) | (7 518) | (31 718) | -------------------------------------------------------------------------------- KONSOLIDEERITUD BILANSS Tuhandetes eurodes (EUR) -------------------------------------------------------------------------------- | | 31. märts | 31. dets. | 31. märts | | | 2008 | 2007 | 2007 | -------------------------------------------------------------------------------- | AKTIVA | | | | -------------------------------------------------------------------------------- | Põhivara | | | | -------------------------------------------------------------------------------- | Materiaalne põhivara | 152 879 | 153 715 | 131 090 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 13 179 | 13 807 | 13 201 | -------------------------------------------------------------------------------- | Investeeringud | 750 | 858 | 1 115 | | sidusettevõtjatesse | | | | -------------------------------------------------------------------------------- | Mitmesugused pikaajalised | 7 418 | 7 352 | 7 336 | | nõuded | | | | -------------------------------------------------------------------------------- | Põhivara kokku | 174 226 | 175 732 | 152 742 | -------------------------------------------------------------------------------- | Käbevara | | | | -------------------------------------------------------------------------------- | Müügiootel põhivara | 208 | 111 | 68 | -------------------------------------------------------------------------------- | Varud | 11 811 | 11 989 | 8 690 | -------------------------------------------------------------------------------- | Nõuded ostjate vastu ja muud | 64 983 | 63 460 | 65 243 | | lühiajalised nõuded | | | | -------------------------------------------------------------------------------- | Lühiajalised | 1 101 | 44 357 | 10 429 | | finantsinvesteeringud | | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 89 085 | 25 359 | 93 567 | -------------------------------------------------------------------------------- | Käibevara kokku | 167 188 | 145 276 | 177 997 | -------------------------------------------------------------------------------- | AKTIVA KOKKU | 341 414 | 321 008 | 330 739 | -------------------------------------------------------------------------------- | OMAKAPITAL JA KOHUSTUSED | | | | -------------------------------------------------------------------------------- | Emaettevõtja osalus | | | | | omakapitalis | | | | -------------------------------------------------------------------------------- | Aktsiakapital | 88 169 | 88 169 | 88 169 | -------------------------------------------------------------------------------- | Reservid | 22 753 | 22 753 | 22 753 | -------------------------------------------------------------------------------- | Realiseerimata kursivahed | 8 817 | 8 817 | 8 817 | -------------------------------------------------------------------------------- | Eelmiste perioodide jaotamata | 155 265 | 59 071 | 142 832 | | kasum | | | | -------------------------------------------------------------------------------- | Perioodi puhaskasum | 28 803 | 96 194 | 27 999 | -------------------------------------------------------------------------------- | Emaettevõtja osalus | 303 807 | 275 004 | 290 570 | | omakapitalis kokku | | | | -------------------------------------------------------------------------------- | Vähemusosa | 815 | 733 | 429 | -------------------------------------------------------------------------------- | Omakapital kokku | 304 622 | 275 737 | 290 999 | -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | | -------------------------------------------------------------------------------- | Intressikandvad laenud ja | 48 | 85 | 164 | | võlakohustused | | | | -------------------------------------------------------------------------------- | Pensionikohustused | 192 | 208 | 495 | -------------------------------------------------------------------------------- | Eraldised | 1 338 | 1 321 | 1 281 | -------------------------------------------------------------------------------- | Intressi mittekandvad | - | - | 330 | | võlakohustused | | | | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 1 578 | 1 614 | 2 270 | -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | | -------------------------------------------------------------------------------- | Võlad tarnijatele ja muud | 34 571 | 42 885 | 36 907 | | lühiajalised kohustused | | | | -------------------------------------------------------------------------------- | Intressikandvad laenud ja | 164 | 178 | 165 | | võlakohustused | | | | -------------------------------------------------------------------------------- | Pensionikohustused | 310 | 308 | 55 | -------------------------------------------------------------------------------- | Eraldised | 169 | 286 | 343 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 35 214 | 43 657 | 37 470 | -------------------------------------------------------------------------------- | Kohustused kokku | 36 792 | 45 271 | 39 740 | -------------------------------------------------------------------------------- | OMAKAPITAL JA KOHUSTUSED KOKKU | 341 414 | 321 008 | 330 739 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE Tuhandetes eurodes (EUR) -------------------------------------------------------------------------------- | | I kvartal 2008 | I kvartal 2007 | -------------------------------------------------------------------------------- | Rahavoog äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum | 28 885 | 28 107 | -------------------------------------------------------------------------------- | Korrigeerimised: | | | -------------------------------------------------------------------------------- | Põhivara kulum ja väärtuse langus | 8 942 | 7 518 | -------------------------------------------------------------------------------- | (Kasum) / kahjum põhivara müügist | (189) | (1) | -------------------------------------------------------------------------------- | Neto (tulud) / kulud sidusettevõtjatelt | 107 | (13) | -------------------------------------------------------------------------------- | Eraldised | (117) | (123) | -------------------------------------------------------------------------------- | (Finantstulud) / kulud | (1 633) | (1 363) | -------------------------------------------------------------------------------- | Muud mitterahalised korrigeerimised | 4 | (20) | -------------------------------------------------------------------------------- | Rahavoog äritegevusest enne käibekapitali | 35 999 | 34 105 | | muutusi | | | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete ja ettemaksete | 297 | (7 854) | | muutus | | | -------------------------------------------------------------------------------- | Varude muutus | (262) | 427 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste ja | (8 406) | (4 762) | | ettemaksete muutus | | | -------------------------------------------------------------------------------- | Käibekapitali muutus | (8 371) | (12 189) | -------------------------------------------------------------------------------- | Rahavood äritegevusest peale käibekapitali | 27 628 | 21 916 | | muutusi | | | -------------------------------------------------------------------------------- | Saadud intressid | 1 052 | 1 010 | -------------------------------------------------------------------------------- | Makstud intressid | (94) | (21) | -------------------------------------------------------------------------------- | Rahavoog äritegevusest kokku | 28 586 | 22 905 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse ning immateriaalse põhivara | (7 593) | (7 482) | | soetamine | | | -------------------------------------------------------------------------------- | Materiaalse ja immateriaalse põhivara müük | 207 | 8 | -------------------------------------------------------------------------------- | Lühiajaliste finantsinvesteeringute | 43 257 | 57 623 | | muutus, neto | | | -------------------------------------------------------------------------------- | Muude pikaajaliste nõuete muutus, neto | (703) | (190) | -------------------------------------------------------------------------------- | Rahavoog investeerimistegevusest kokku | 35 168 | 49 959 | -------------------------------------------------------------------------------- | Rahavood enne finantseerimistegevust | 63 754 | 72 864 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Kapitalirendi põhiosa tagasimaksed | (38) | (29) | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest kokku | (38) | (29) | -------------------------------------------------------------------------------- | Raha ja raha ekvivalentide muutus | 63 716 | 72 835 | -------------------------------------------------------------------------------- | | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid aasta alguses | 25 359 | 20 733 | -------------------------------------------------------------------------------- | Raha ja rahaekvivalentide muutus | 63 716 | 72 835 | -------------------------------------------------------------------------------- | Valuutakursi muutuste mõju | 10 | (1) | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid perioodi lõpus | 89 085 | 93 567 | --------------------------------------------------------------------------------
Pealkiri
AS Eesti Telekom consolidated I Quarter 2008 interim report, EUR
Teade
AS Eesti Telekom consolidated I Quarter 2008 interim report, EUR MANAGEMENT REPORT In the given economic situation, 2008 first quarter results for Eesti Telekom Group were gladdening for the strong increase in EBITDA and EBIT. Despite the significant reduction in interconnection fees between mobile operators at the end of 2007, the mobile communications services segment was able to maintain its sales revenues compared to the same period last year. Both mobile data revenues and number of users showed strong growth. The broadband services segment has seen continued growth in the number of permanent Internet connections and the users of triple packages. Several important tenders were won by the IT services segment. Significant financial indicators Eesti Telekom Group -------------------------------------------------------------------------------- | | Q1 2008 | Q1 2007 | Change, % | -------------------------------------------------------------------------------- | Total revenues, million EUR | 94.9 | 95.6 | -0.8 | -------------------------------------------------------------------------------- | EBITDA, million EUR | 36.8 | 34.6 | 6.3 | -------------------------------------------------------------------------------- | Margin, % | 38.8 | 36.2 | | -------------------------------------------------------------------------------- | EBIT, million EUR | 27.9 | 27.1 | 2.8 | -------------------------------------------------------------------------------- | Margin, % | 29.4 | 28.4 | | -------------------------------------------------------------------------------- | EBT, million EUR | 28.9 | 28.1 | 2.8 | -------------------------------------------------------------------------------- | Net profit for the period, million | 28.9 | 28.1 | 2.8 | | EUR | | | | -------------------------------------------------------------------------------- | EPS, EUR | 0.21 | 0.20 | 2.9 | -------------------------------------------------------------------------------- | CAPEX, million EUR | 7.6 | 7.5 | 1.5 | -------------------------------------------------------------------------------- | Net gearing, % | -29.5 | -35.6 | | -------------------------------------------------------------------------------- | ROA, % | 31.2 | 29.6 | | -------------------------------------------------------------------------------- | ROE, % | 43.0 | 44.0 | | -------------------------------------------------------------------------------- Mobile communications segment -------------------------------------------------------------------------------- | | Q1 2008 | Q1 2007 | Change, % | -------------------------------------------------------------------------------- | Total revenues. million EUR | 55.9 | 55.2 | 1.3 | -------------------------------------------------------------------------------- | EBITDA, million EUR | 21.0 | 21.1 | -0.2 | -------------------------------------------------------------------------------- | Margin, % | 37.6 | 38.2 | | -------------------------------------------------------------------------------- | EBIT, million EUR | 17.0 | 17.8 | -4.5 | -------------------------------------------------------------------------------- | Margin, % | 30.4 | 32.3 | | -------------------------------------------------------------------------------- | EBT, million EUR | 17.4 | 18.3 | -4.7 | -------------------------------------------------------------------------------- | Net profit for the period, million | 17.4 | 18.3 | -4.7 | | EUR | | | | -------------------------------------------------------------------------------- | CAPEX, million EUR | 3.7 | 3.1 | 17.9 | -------------------------------------------------------------------------------- | ROA, % | 44.5 | 47.7 | | -------------------------------------------------------------------------------- | ROE, % | 75.4 | 78.7 | | -------------------------------------------------------------------------------- Broadband services segment -------------------------------------------------------------------------------- | | Q1 2008 | Q1 2007 | Change, % | -------------------------------------------------------------------------------- | Total revenues, million EUR | 48.8 | 44.6 | 9.5 | -------------------------------------------------------------------------------- | EBITDA, million EUR | 15.8 | 13.7 | 14.7 | -------------------------------------------------------------------------------- | Margin, % | 32.3 | 30.8 | | -------------------------------------------------------------------------------- | EBIT, million EUR | 11.3 | 9.9 | 13.9 | -------------------------------------------------------------------------------- | Margin, % | 23.1 | 22.2 | | -------------------------------------------------------------------------------- | EBT, million EUR | 11.3 | 9.8 | 15.7 | -------------------------------------------------------------------------------- | Net profit for the period, million | 11.3 | 9.8 | 15.7 | | EUR | | | | -------------------------------------------------------------------------------- | CAPEX, million EUR | 3.6 | 4.1 | -12.3 | -------------------------------------------------------------------------------- | ROA, % | 24.3 | 20.2 | | -------------------------------------------------------------------------------- | ROE, % | 39.1 | 31.4 | | -------------------------------------------------------------------------------- IT services segment -------------------------------------------------------------------------------- | | Q1 2008 | Q1 2007 | Change, % | -------------------------------------------------------------------------------- | Total revenues, million EUR | 5.1 | 6.9 | -26.6 | -------------------------------------------------------------------------------- | EBITDA, million EUR | 0.2 | 0.1 | 100.9 | -------------------------------------------------------------------------------- | Margin, % | 4.9 | 1.8 | | -------------------------------------------------------------------------------- | EBIT, million EUR | -0.1 | -0.2 | -19.5 | -------------------------------------------------------------------------------- | Margin, % | -2.9 | -2.6 | | -------------------------------------------------------------------------------- | EBT, million EUR | -0.2 | 0.0 | N/A | -------------------------------------------------------------------------------- | Net profit for the period, million | -0.2 | 0.0 | N/A | | EUR | | | | -------------------------------------------------------------------------------- | CAPEX, million EUR | 0.4 | 0.3 | 19.8 | -------------------------------------------------------------------------------- | ROA, % | 2.5 | 5.6 | | -------------------------------------------------------------------------------- | ROE, % | 4.0 | 6.6 | | -------------------------------------------------------------------------------- Sales revenues, operating costs, and profit The results of the Eesti Telekom Group for the first quarter of 2008 corresponded to the expectations of the management board. The sales revenues of the Group in the first quarter of 2008 reached 94.9 million EUR (1st quarter 2007: 95.6 million EUR), and is primarily affected by the reduction in interconnection fees (as of 5th of November 2007 the state regulator fixed the interconnection fee in mobile phone networks at 0.11 EUR instead of the former 0.16 EUR). In the mobile communications services segment, the consolidated turnover reached 55.9 million EUR, increasing by 1% compared to the same period on 2007 (1st quarter 2007: 55.2 million EUR). The modest growth was caused by the reduction in interconnection revenues resulting from the decrease in interconnection prices, which was compensated on the principal activity side by the growth of the number call minutes for calls initiated from and completed in the network, the growth of mobile data communications and the growth of the volume of subcontracting services. Compared to a year ago, the number of contractual clients had increased by 36 thousand, reaching 473 thousand by the first quarter of 2008, while, at the same time, the number of active users of pre-paid cards decreased by 47 thousand to 278 thousand users by the end of the first quarter. As opposed to the previous year, an aggressive client recruitment campaign did not take place in the first quarter of 2008 to find new card users. EMT assesses its market share of active SIM cards as 47%. The estimated penetration of active cards in Estonia is 118%. The increase in revenues was most affected by the increase in the number of call minutes initiated by EMT clients, which, in the first quarter of 2008, increased by 3% compared to the same period in 2007. Pursuant to the resolution of the Communications Board dated 21 March 2006, the termination fee for voice calls in the mobile phone networks (interconnection fee) for AS EMT, Elisa Eesti AS and Tele2 Eesti AS for the period 1 July 2006 to 30 June 2007 was fixed at 0.13 EUR per minute, and pursuant to the resolutions of the Communications Board dated 20 June and 22 June 2007, was fixed at 0.11 EUR for the period 1 July 2007 to 30 June 2008. Since Elisa Eesti AS and Tele2 Eesti AS disputed the decisions in court, and in the course of provisional legal protection, the validity of the aforementioned administrative act was suspended, the interconnection fees of all three mobile operators remained at 0.16 EUR until 5 November 2007. On 5 November 2007, the ruling of the Tallinn Circuit Court came into force, whereby the provisional legal protection was cancelled and all three mobile operators were obligated to apply interconnection fees of 0.11 EUR. Litigation by Elisa Eesti AS and Tele2 with the Communications Board are continuing, and EMT is participating in the litigation as a third party. With its resolution of 25 March 2008, the Competition Board, which is the legal successor to the Communications Board, established a fee of 0.09 EUR per minute for the termination of voice calls in mobile phone networks for the period 1 July 2008 - 30 June 2009. The revenues received from mobile Internet continued to show very rapid growth. In the first quarter of this year, EMT revenues from mobile data communications exceeded the revenues for the same period in 2007 by more than 60%. At the same time, the transmitted data volumes increased tenfold. In March 2008, the number of EMT mobile data communications users was 160 thousand, or 55 thousand more users than a year ago. The increase in the popularity of mobile data communications is caused, on the one hand, by the introduction of new data communications packages based on monthly fees in the summer of 2007, and on the other hand, by the dynamic expansion of the 3G coverage area, which allows the clients to use high-quality and high-speed data communications at conveniently controllable prices. The rapid development, especially in the private segment, has been accompanied by an EMT Internet startup package, which includes a free high-speed 3.5G modem for loyal customers signing up for the EMT Internet 399 package. This provides the client with an opportunity to use Estonia's 3G network with the largest coverage area and provides Internet connections with speeds approaching those of ADSL. Secondly, the number of mobile Internet users has been positively affected by the establishment of a price ceiling of 0.58 EUR per day for the use of EMT SurfPort. This has made using the Internet on their mobile phones affordable for many customers. A regulation applies to AS EMT, as it does to other mobile operators in the European Community, which specifies that as of September 2007 the rate per minute for outgoing calls made within the borders of the European Community cannot exceed the maximum price established by the European Community. Therefore, the revenues received from roaming clients have decreased by 20%. The revenues for the mobile communications services segment from retailing and wholesaling telecommunications merchandise increased in the first quarter of 2008 compared to the same period in 2007 thanks primarily to a wider range of available merchandise. The sales revenues for the broadband services segment increased by 10% compared to the same period last year, reaching 48.8 million EUR (1st quarter 2007: 44.6 million EUR). The greatest increase was demonstrated by domestic interconnection services, which increased by 73% during the year. The growth was primarily based on the increases in call transit volumes from the networks of fixed network. Revenues from international call services increased by 27% compared to 2007, primarily as a result of an increase in the number of calls initiated from mobile networks. Similarly to previous quarters, the trend in broadband services, whereby clients are replacing individual services with packages of integrated services, continued in the last quarter. Compared to last year, the broadband services segment revenues from connection fees for integrated services grew by 35%. The number of triple package users increased by 5,100, reaching 58.6 thousand as of 31 March (31 March 2007: 29.8 thousand). At the end of the first quarter, Elion had 63.2 thousand IP and cable TV clients (31 March 2007: 32.4 thousand). The popularity of the triple package has been significantly enhanced by the offering of supplemental services. Since the introduction of the remote video rental service last year, the selection of available films, TV series and programs has constantly expanded. In the first quarter, the total number of Elion clients with permanent Internet connections increased by 4,400 connections, reaching 167.5 thousand by the end of March (31 March 2007: 148 thousand). The company assesses its market share based on clients with permanent connections to be 55%. In addition to the sale of integrated solutions, the growth of permanent connections is based on the WiMax base stations that were completed in Võru, Pärnu and Rapla Counties in February in the course of the Külatee 3 continuation project. Based on the significant ratio of the increase in the volume and revenues from integrated solutions, the revenues from monthly fees for call connections and Internet connections fell by 10% and 14% respectively. In the first quarter, the call revenues of the broadband services segment increased by 10% compared to the same period in 2007. As mentioned above, the growth resulted primarily from an increase in the volume of domestic call transit and international calls initiated from mobile networks. At the same time, the call revenues earned from end consumers in the last quarter continued to decrease. Compared to the same period in 2007, the revenues earned from domestic call services decreased by 10.5% due to a reduction in minute volumes. Elion assesses its market share for call minutes initiated in the fixed network to be 81% (March 2007: 83%). The market share for local call minutes is 82.9 % (March 2007: 84%), 66.4 % for international call minutes (March 2007: 65%) and 71.2% for call minutes made to mobile phones (March 2007: 69%). By the end of the first quarter, the number of Elion's active call interfaces reached 470 thousand (31 March 2007: 465 thousand interfaces). The increase in call interfaces is primarily based on the constant energetic activities directed at keeping existing clients and finding new ones. In March, Elion started providing Private Client VoIP call services, which are based on WiMax wireless Internet connections. In order to use VoIP call services, clients must acquire IP-telephones or IP-adapters to connect an ordinary phones. As a result of the general cooling of the Estonian economy, the retail sales of broadband services segment telecommunications and IT merchandise decreased in the first quarter by 4% compared to last year. Sales revenues for the IT services segment reached 5.1 million EUR in the first quarter of 2008 (1st quarter 2007: 6.9 million EUR). Whereas the sales revenues of the IT services segment increased by 17% and the sales revenues for IT merchandise was 52% less than for the same period last year. The latter is caused by the fact that in the 1st quarter of 2007, MicroLink Eesti ordered and installed the base infrastructure solution necessary for the Schengen information system, which comprised a noteworthy part of the hardware and software sales revenues for the given period. The greatest impact on the sales results for infrastructure solutions in the first quarter of this year was caused by a significant reduction in announced public procurements compared to the first quarter of 2007, and the postponement of the order of workstation computers for the Ministry of Justice into the second half of the year. The most important procurements won in the first quarter included servers for the Health Insurance Fund and the Ministry of Defense, the disk array for the e-health project, and the expansion of Eesti Energia's existing disk array. In the IT services segment, the growth of sales revenues took place as anticipated based on the increase of ongoing services. The most important contracts concluded during the first quarter included the maintenance of Empower Eesti's central system and workstation computers, the hosting of the URRAM information system of the Ministry of Culture, and the hosting of the information system of the Estonian Private Forest Union. The most important keyword during the first quarter in project business was continuation of the work on the e-health project. The project will be completed in June of this year. MicroLink Eesti also won two important document management procurements - Estonian Post and the Tallinn City Government - the results of which will be reflected in subsequent periods. The operating costs of the Eesti Telekom Group decreased by 5% in the first quarter of 2008 compared to the same period in 2007, reaching 58.3 million EUR (1st quarter 2007: 61.1 million EUR). The operating costs in the mobile communications services segment increased by 2% compared to the first quarter of 2007 reaching 34.9 million EUR (1st quarter 2007: 34.2 million EUR). The largest increases are in the operating costs related to retailing and wholesaling, which have increased in connection with the growth of trade sales turnovers. The operating costs in the broadband services segment increased by 8% compared to the same period last year, reaching 33.2 million EUR (1st quarter 2007: 30.8 million EUR). More than half the increase in operating costs resulted from the growth of direct sales costs based on increased volumes of international call services and domestic interconnection services. The second principal growth factor that is related to operating costs was personnel costs, which increased by 13.1% compared to the previous year. At the same time, the direct sales costs related to domestic call services fell by 38% due to the reduction in call volumes. The operating costs in the IT services segment decreased in the first quarter by 29%, reaching 4.8 million EUR (1st quarter 2007: 6.8 million EUR). The Eesti Telekom Group EBITDA in the first quarter of 2008 reached 36.8 million EUR, which is 6% more than in the first quarter of 2007 (1st quarter 2007: 34.6 million EUR). EBITDA in the mobile communications services segment remained in the first quarter at the same level as at the same period in 2007. EBITDA in the broadband services segment increased by 15% and the corresponding indicator in the IT services segment increased approximately twice. The Group's EBITDA margin in the first quarter of 2007 was 39%, which is slightly higher than the corresponding period in 2007. The Group's depreciation cost reached 8.9 million EUR in the first quarter of 2008, increasing by 19% compared to the same period in 2007 (1st quarter 2007: 7.5 million EUR). In the first quarter, the Eesti Telekom Group earned an EBIT of 27.9 million EUR, which is 3% more than in the first quarter of 2007 (1st quarter 2007: 27.1 million EUR). The Group's (net) financial revenues increased by 14% in the first quarter and reached 1.1 million EUR (1st quarter 2007: 1.0 million EUR). In the first quarter of 2008, the Eesti Telekom Group net profit was 28.9 million EUR (1st quarter 2007: 28.1 million EUR). The profit per share was 0.21 EUR (1st quarter 2007: 0.20 EUR). Balance sheet and cash flows As of 31 March 2008, the Eesti Telekom Group balance sheet totaled 341.4 million EUR (31 December 2007: 321.0 million EUR). Compared to the beginning of the year, fixed assets have decreased by 1.5 million EUR, thereby bringing the depreciated value at the end of the first quarter to 174.2 million EUR. In three months, the Group's current assets have increased by 21.9 million EUR, reaching 167.2 million EUR by the end of March (31 December 2007: 145.3 million EUR). The depreciated value of cash and cash equivalents as well as short-term financial investments has increased by 20.5 million EUR, reaching 90.2 million EUR by the end of the period. The increase is caused by a strong positive cash flow from operations in the first quarter. As of 31 March 2008, the Eesti Telekom Group equity was 304.6 million EUR, which is 28.9 million EUR more than at the end of 2007 (31 December 2007: 275.7 million EUR). The increase in equity is based on first quarter profit. The Group's long-term obligations of 1.6 million EUR remained at the same level as at the end of the year (31 December 2007: 1.6 million EUR). The short-term obligations decreased by 8.4 million EUR to 35.2 million EUR (31 December 2007: 43.7 million EUR). The decrease is caused by a reduction of indebtedness to suppliers in the mobile communications and broadband services segments. The net debt of the Eesti Telekom Group at the end of the first quarter was -90.0 million EUR and the net debt to equity ratio was -30% (31 December 2007: -69.5 million EUR and -25%). The Eesti Telekom Group three-month cash flow from operations was 28.6 million EUR (3 months of 2007: 22.9 million EUR). The Group's cash flow from investments was 35.2 million EUR (3 months of 2007: 50.0 million EUR). The cash flow into tangible and intangible fixed assets in the first three months was 7.6 million EUR (3 months of 2007: 7.5 million EUR). This year, the mobile communications services segment has invested 3.7 million EUR in three months (3 months of 2007: 3.1 million EUR). In mobile communications, in addition to the constant development of the GSM network, a large development field was the implementation of technologies supporting high-speed data communications. In the first quarter, the project for implementing EDGE data communications in all GSM base stations was completed. Therefore, EDGE with speeds of up to 200 kbit per second can currently be used in all EMT GSM coverage areas. During the three months of 2008, the investments in the broadband services segment reached 3.6 million EUR (3 months of 2007: 4.1 million EUR). The principal part of the investments continued to be directed at improving the quality of services, developing network resources, and improving the availability of permanent Internet connections and DigiTV. At the beginning of March, Elion's international network node in Amsterdam was completed, which was created based on a need to increase the reliability of connections with London and Frankfurt. The establishment of the Amsterdam network node allows Elion to better distribute network traffic among various foreign connections and to provide clients with increasingly rapid access to various Internet networks. The new network node enables an Elion call communications network to be developed. Elion already had international network nodes in London, Frankfurt, Helsinki (two), Riga (two), Vilnius, St. Petersburg, and Moscow. In the first quarter of 2008, similarly to the same period of last year, the IT services segment invested 0.4 million EUR primarily for the expansion of the infrastructure necessary for the provision of services. The Eesti Telekom Group cash flow from financing activities in the first three months was 0.04 million EUR (1st quarter 2007: 0.03 million EUR). Ownership structure of AS Eesti Telekom In the first quarter of 2008, the majority shareholder, TeliaSonera AB (through its subsidiary Baltic Tele AB) increased its share in AS Eesti Telekom. TeliaSonera acquired an additional 1,197,400 AS Eesti Telekom shares, thereby increasing its participation to 60.12%. The increase in the participation of TeliaSonera reduced the ratio of freely traded shares (shares that do not belong to TeliaSonera AB, the Estonian state, or the Development Fund). As of the end of the first quarter, the ratio of freely traded shares was 12.7% of the total number of shares. Of these, 19.81% were converted into GDRs trades on the London Stock Exchange. As of 31 March 2008, the 10 largest shareholders in AS Eesti Telekom were: -------------------------------------------------------------------------------- | | Number of | Participation | | | securities | | -------------------------------------------------------------------------------- | Baltic Tele AB | 82,936,299 | 60.12% | -------------------------------------------------------------------------------- | Ministry of Finance / State Treasury | 33,346,464 | 24.17% | -------------------------------------------------------------------------------- | Estonian Development Fund | 4,138,636 | 3.00% | -------------------------------------------------------------------------------- | Deutsche Bank Trust Company (GDR | 3,472,509 | 2.52% | | accounts) | | | -------------------------------------------------------------------------------- | ING Luxembourg S.A. | 1,818,330 | 1.32% | -------------------------------------------------------------------------------- | Danske Bank clients | 1,367,436 | 0.99% | -------------------------------------------------------------------------------- | Skandinaviska Enskilda Banken AB | 1,311,850 | 0.95% | | clients | | | -------------------------------------------------------------------------------- | Bank Austria Creditanstalt AG clients | 1,028,730 | 0.75% | -------------------------------------------------------------------------------- | Clearstream Banking Luxembourg clients | 601,149 | 0.44% | -------------------------------------------------------------------------------- | Skandinaviska Enskilda Banken finnish | 352,956 | 0.26% | | clients | | | -------------------------------------------------------------------------------- Shareholders' general meeting The regular general meeting of AS Eesti Telekom shareholders will take place on 22 May 2008 at 12 pm in Tallinn at Valge 16. Starting on 28 April 2008, the 2007 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 mailbox@telekom.ee. Dividends The Management Board of AS Eesti Telekom will make a proposal at the shareholders' general meeting to distribute and pay our 92.6 million EUR or 0.67 EUR per share as dividends, based on the number of dividend-paying shares, or 137,954,528 shares. In 2007, 83.8 million EUR was distributed as dividends among the shareholders, or 0.61 EUR per share. Definitions Net debt - Long- and short-term interest-bearing borrowings, less cash and cash equivalents and short-term investments ROA -Net profit for the last four quarters divided by the average total assets for the same period ROE - Pre-tax profit for last four quarters divided by the average equity for the same period CONSOLIDATED INCOME STATEMENT In thousand of EUR -------------------------------------------------------------------------------- | | I Quarter | I Quarter | 2007 | | | 2008 | 2007 | | -------------------------------------------------------------------------------- | Net sales | 94,857 | 95,645 | 400,151 | -------------------------------------------------------------------------------- | Cost of production | (53,078) | (54,400) | (226,426) | -------------------------------------------------------------------------------- | Gross profit | 41,779 | 41,245 | 173,725 | -------------------------------------------------------------------------------- | Sales, administrative, and | (14,187) | (14,250) | (57,521) | | research & development expenses | | | | -------------------------------------------------------------------------------- | Other operating revenues | 402 | 200 | 1,797 | -------------------------------------------------------------------------------- | Other operating expenses | (99) | (67) | (404) | -------------------------------------------------------------------------------- | Operating profit | 27,895 | 27,128 | 117,597 | -------------------------------------------------------------------------------- | Finance income | 1,134 | 1,001 | 3,108 | -------------------------------------------------------------------------------- | Finance costs | (37) | (35) | (150) | -------------------------------------------------------------------------------- | Finance income, net | 1,097 | 966 | 2,958 | -------------------------------------------------------------------------------- | Net income / (expenses) from | (107) | 13 | (244) | | associated companies | | | | -------------------------------------------------------------------------------- | Profit before tax | 28,885 | 28,107 | 120,311 | -------------------------------------------------------------------------------- | Income tax on dividends | - | - | (23,705) | -------------------------------------------------------------------------------- | Net profit for the period | 28,885 | 28,107 | 96,606 | -------------------------------------------------------------------------------- | Attributable to: | | | | -------------------------------------------------------------------------------- | Equity holders of the parent | 28,803 | 27,999 | 96,194 | -------------------------------------------------------------------------------- | Minority interest | 82 | 108 | 412 | -------------------------------------------------------------------------------- | | 28,885 | 28,107 | 96,606 | -------------------------------------------------------------------------------- | | | | | -------------------------------------------------------------------------------- | Earnings per share for profit | | | | | attributable to the equity holders | | | | | of the parent during the reporting | | | | | period (expressed in EUR) | | | | -------------------------------------------------------------------------------- | Basic earnings per share | 0.21 | 0.20 | 0.70 | -------------------------------------------------------------------------------- | Diluted earnings per share | 0.21 | 0.20 | 0.70 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EBITDA | 36,837 | 34,646 | 149,315 | -------------------------------------------------------------------------------- | Depreciation, amortization and | (8,942) | (7,518) | (31,718) | | write-downs | | | | -------------------------------------------------------------------------------- CONSOLIDATED BALANCE SHEET In thousand of EUR -------------------------------------------------------------------------------- | | 31 March | 31 December | 31 March | | | 2008 | 2007 | 2007 | -------------------------------------------------------------------------------- | ASSETS | | | | -------------------------------------------------------------------------------- | Non-current assets | | | | -------------------------------------------------------------------------------- | Property, plant and equipment | 152,879 | 153,715 | 131,090 | -------------------------------------------------------------------------------- | Intangible fixed assets | 13,179 | 13,807 | 13,201 | -------------------------------------------------------------------------------- | Investments in associates | 750 | 858 | 1,115 | -------------------------------------------------------------------------------- | Other financial fixed assets | 7,418 | 7,352 | 7,336 | -------------------------------------------------------------------------------- | Total non-current assets | 174,226 | 175,732 | 152,742 | -------------------------------------------------------------------------------- | Current assets | | | | -------------------------------------------------------------------------------- | Assets classified as | 208 | 111 | 68 | | held-for-sale | | | | -------------------------------------------------------------------------------- | Inventories | 11,811 | 11,989 | 8,690 | -------------------------------------------------------------------------------- | Trade and other receivables | 64,983 | 63,460 | 65,243 | -------------------------------------------------------------------------------- | Short-term investments | 1,101 | 44,357 | 10,429 | -------------------------------------------------------------------------------- | Cash and cash equivalents | 89,085 | 25,359 | 93,567 | -------------------------------------------------------------------------------- | Total current assets | 167,188 | 145,276 | 177,997 | -------------------------------------------------------------------------------- | TOTAL ASSETS | 341,414 | 321,008 | 330,739 | -------------------------------------------------------------------------------- | EQUITY AND LIABILITIES | | | | -------------------------------------------------------------------------------- | Capital and reserves | | | | | attributable to equity holders | | | | | of the parent | | | | -------------------------------------------------------------------------------- | Share capital | 88,169 | 88,169 | 88,169 | -------------------------------------------------------------------------------- | Share premium | 22,753 | 22,753 | 22,753 | -------------------------------------------------------------------------------- | Statutory legal reserve | 8,817 | 8,817 | 8,817 | -------------------------------------------------------------------------------- | Retained earnings | 155,265 | 59,071 | 142,832 | -------------------------------------------------------------------------------- | Net profit for the period | 28,803 | 96,194 | 27,999 | -------------------------------------------------------------------------------- | Total capital and reserves | 303,807 | 275,004 | 290,570 | | attributable to equity holders | | | | | of the parent | | | | -------------------------------------------------------------------------------- | Minority interest | 815 | 733 | 429 | -------------------------------------------------------------------------------- | Total equity | 304,622 | 275,737 | 290,999 | -------------------------------------------------------------------------------- | Non-current liabilities | | | | -------------------------------------------------------------------------------- | Interest bearing loans and | 48 | 85 | 164 | | borrowings | | | | -------------------------------------------------------------------------------- | Retirement benefit obligations | 192 | 208 | 495 | -------------------------------------------------------------------------------- | Provisions | 1,338 | 1,321 | 1,281 | -------------------------------------------------------------------------------- | Non-interest bearing | - | - | 330 | | liabilities | | | | -------------------------------------------------------------------------------- | Total non-current liabilities | 1,578 | 1,614 | 2,270 | -------------------------------------------------------------------------------- | Current liabilities | | | | -------------------------------------------------------------------------------- | Trade and other payables | 34,571 | 42,885 | 36,907 | -------------------------------------------------------------------------------- | Interest bearing loans and | 164 | 178 | 165 | | borrowings | | | | -------------------------------------------------------------------------------- | Retirement benefit obligations | 310 | 308 | 55 | -------------------------------------------------------------------------------- | Provisions | 169 | 286 | 343 | -------------------------------------------------------------------------------- | Total current liabilities | 35,214 | 43,657 | 37,470 | -------------------------------------------------------------------------------- | Total liabilities | 36,792 | 45,271 | 39,740 | -------------------------------------------------------------------------------- | TOTAL EQUITY AND LIABILITIES | 341,414 | 321,008 | 330,739 | -------------------------------------------------------------------------------- CONSOLIDATED CASH FLOW STATEMENT In thousand of EUR -------------------------------------------------------------------------------- | | I Quarter | I Quarter | | | 2008 | 2007 | -------------------------------------------------------------------------------- | Operating activities | | | -------------------------------------------------------------------------------- | Net profit for the period | 28,885 | 28,107 | -------------------------------------------------------------------------------- | Adjustments for: | | | -------------------------------------------------------------------------------- | Depreciation, amortisation and impairment | 8,942 | 7,518 | | of fixed and intangible assets | | | -------------------------------------------------------------------------------- | (Profit) / loss from sales and discards of | (189) | (1) | | fixed assets | | | -------------------------------------------------------------------------------- | Net (income) / expenses from associated | 107 | (13) | | companies | | | -------------------------------------------------------------------------------- | Provisions | (117) | (123) | -------------------------------------------------------------------------------- | Financial items | (1,633) | (1,363) | -------------------------------------------------------------------------------- | Miscellaneous non-cash items | 4 | (20) | -------------------------------------------------------------------------------- | Cash flow before change in working capital | 35,999 | 34,105 | -------------------------------------------------------------------------------- | Change in current receivables | 297 | (7,854) | -------------------------------------------------------------------------------- | Change in inventories | (262) | 427 | -------------------------------------------------------------------------------- | Change in current liabilities | (8,406) | (4,762) | -------------------------------------------------------------------------------- | Change in working capital | (8,371) | (12,189) | -------------------------------------------------------------------------------- | Cash flow after changes in working capital | 27,628 | 21,916 | -------------------------------------------------------------------------------- | Interest received | 1,052 | 1,010 | -------------------------------------------------------------------------------- | Interest paid | (94) | (21) | -------------------------------------------------------------------------------- | Cash flow from operating activities | 28,586 | 22,905 | -------------------------------------------------------------------------------- | Investing activities | | | -------------------------------------------------------------------------------- | Intangible and tangible fixed assets | (7,593) | (7,482) | | acquired | | | -------------------------------------------------------------------------------- | Intangible and tangible fixed assets | 207 | 8 | | divested | | | -------------------------------------------------------------------------------- | Net change in interest-receivables short | 43,257 | 57,623 | | maturities | | | -------------------------------------------------------------------------------- | Net cash changes of other long-term | (703) | (190) | | receivables | | | -------------------------------------------------------------------------------- | Cash flow from investing activities | 35,168 | 49,959 | -------------------------------------------------------------------------------- | Cash flow before financing activities | 63,754 | 72,864 | -------------------------------------------------------------------------------- | Financing activities | | | -------------------------------------------------------------------------------- | Repayment of finance lease liabilities | (38) | (29) | -------------------------------------------------------------------------------- | Cash flow used in financing activities | (38) | (29) | -------------------------------------------------------------------------------- | Cash flow for the year | 63,716 | 72,835 | -------------------------------------------------------------------------------- | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at beginning of | 25,359 | 20,733 | | year | | | -------------------------------------------------------------------------------- | Cash flow for the year | 63,716 | 72,835 | -------------------------------------------------------------------------------- | Effect of foreign exchange rate changes | 10 | (1) | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of period | 89,085 | 93,567 | --------------------------------------------------------------------------------