Operator results N57

MTS (Russia) reported 4Q04 profit of $209m, up 37%, EBITDA of $498m (+24%) and sales of $ 1.1bn (+40%). MTS had 34.2m subscribers at the end of 2004.

Telewest (UK cable operator) announced 4Q04 EBITDA growth of 14%, operating income growth of 235% and revenue growth of 5%.

Cesky Telecom (Czech Republic) posted 2004 revenues of € 2.04bn, EBITDA of € 952m, EBITDA margin of 47%. Capex was € 190m, giving a capex/sales ratio of 9.3%.

China Unicom reported 2004 sales of $9.58bn (up 17.3%) of which 67% in GSM and 33% in CDMA; net profit of $530m (up 4%). The profitability has been weighed down by higher costs in the CDMA business, increased CDMA churn, and lower ARPU (-12% in global to $6, but -32% for CDMA to $10).