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Annual Report 2011
possibilities ANNUAL REPORT 2011 CONTENTS About the company ............................................................................... 2 Key financial & operational highlights ............................................. 12 Key events of 2011 & early 2012 ...................................................... 14 Bright upside potential from the reorganization ............................. 18 Strong market position ................................................................... 20 Up in the “Clouds” ........................................................................... 22 Chairman’s statement ........................................................................ 24 Letter from the President ................................................................... 26 Strategy .............................................................................................. 28 M&A activity ........................................................................................ 31 Corporate governance ........................................................................ 34 Board of Directors & committees .................................................... 34 Management Board & committees ................................................. 37 Internal Audit Commission ............................................................. 40 Remuneration of members of the Board of Directors and the Management Board ............................................................. 40 Dividend policy ................................................................................ -
PROVISIONALLY APPROVED by the Board of Directors of OJSC Rostelecom May 19, 2014 Minutes No 01 Dated May 22, 2014
PROVISIONALLY APPROVED by the Board of Directors of OJSC Rostelecom May 19, 2014 Minutes No 01 dated May 22, 2014 APPROVED by the Annual General Shareholders’ Meeting of OJSC Rostelecom June 30, 2014 Minutes No___ dated June __, 2014 ANNUAL REPORT OPEN JOINT STOCK COMPANY LONG-DISTANCE AND INTERNATIONAL TELECOMMUNICATIONS ROSTELECOM BASED ON YEAR 2013 RESULTS President of OJSC Rostelecom s/s S.B. Kalugin Acting Chief Accountant of OJSC Rostelecom s/s N.V. Lukashin May 22, 2014 Moscow, 2014 ANNUAL REPORT TABLE OF CONTENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS ....................................... 3 INFORMATION CONTAINED IN THIS ANNUAL REPORT .............................................................................. 4 ROSTELECOM AT A GLANCE ......................................................................................................................... 5 THE PRESIDENT’S MESSAGE ......................................................................................................................... 6 2013 HIGHLIGHTS ............................................................................................................................................ 8 OPERATING AND FINANCIAL RESULTS ...................................................................................................... 10 COMPANY’S POSITION IN THE INDUSTRY ................................................................................................. 12 COMPANIES IN ROSTELECOM GROUP ...................................................................................................... -
Strategies of Yota (Scartel) - 4G Operator in Russian Federation
Netra Pal Singh1 JEL: L11 2 Manisha Kaushik DOI: 10.5937/industrija41-4700 UDK: 621.39:339.13(470) ;005.21:621.39 Professional Paper Strategies of Yota (Scartel) - 4G Operator in Russian Federation Article history Received: 20 September 2013 Sent for revision: 20 October 2013 Received in revised form: 13 November 2013 Accepted: 17 November 2013 Available online: 26 November 2013 Abstract: Russian Federation is one of the high growth markets for telecom services which are expected to reach $48.5 billion by 2013. With the granting of 4G LTE licenses, it is expected that 4G market in Russian Federation will be dominated by four cellular operators, i.e., MTS, Beeline, and MegaFon, Rostelecom along with two new startups, i.e., Osnova Telecom and Red Tel- ecom. In addition, other companies such as Yota, Synterra, COMSTAR, Freshtel etc. are also operating in Russian WiMax & LTE telecom market to provide similar services. This paper is an attempt to analyze some of the pa- rameters of LTE turn Yota WiMax Telecom Operator in Russian Federation. The paper covers current achievements of Yota, its reach in Russian Federa- tion, its network size & technology, its services, expansion plans for future, strategies for survival (in question) in a highly competitive market of big com- panies, and its ultimate fate. Keywords: WiMax, Long Term Evolution (LTE), Yota, Russian Markets, MTS, Beeline, MegaFon, Rostelecom. Strategija Yota (Scartel) – 4G operatera u Ruskoj Federaciji Apstrakt: Ruska Federacija je jedno od brzo rastućih tržišta telekomunikacionih usluga za koje se očekuje da će dostići $ 48.5 milijardi dolara tokom 2013. -
Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT -
OJSC Centertelecom
OJSC CenterTelecom Audit Report on Financial Statements for the Year Ending December 31, 2007 March 2008 TRANSLATION OF ORIGINAL RUSSIAN VERSION Central Telecommunication Company OJSC Explanatory Notes to Financial Statements for 2007 Comparative data (RUR thousand unless otherwise stated) AUDIT REPORT - OJSC CENTERTELECOM CONTENTS PAGE Independent auditor's report on financial statements of OJSC CenterTelecom 3 Appendices 1. Financial statements of OJSC CenterTelecom for the period from 1 January, 5 2007 through December 31, 2007, including: Balance Sheet Profit and Loss Statement Statement of Changes in the Shareholders' Equity Statement of Cash Flows Appendix to Balance Sheet Explanatory Notes to Financial Statements TRANSLATION OF ORIGINAL RUSSIAN VERSION 2 Central Telecommunication Company OJSC Explanatory Notes to Financial Statements for 2007 Comparative data (RUR thousand unless otherwise stated) INDEPENDENT AUDITOR'S REPORT ON FINANCIAL STATEMENTS OF CENTERTELECOM OJSC To the shareholders of OJSC CenterTelecom DETAILS OF THE AUDITING FIRM Name: ERNST AND YOUNG LLC Address: Russia 115035, Moscow, Sadovnicheskaya naberezhnaya, 77, building 1 Certificate of an entry made to the Uniform State Register of Legal Entities Concerning a Legal Entity Registered Before July 1, 2002; date of entry: December 05, 2002, series 77, No. 007367150, registered by the Moscow Registration Chamber State Institution on June 20, 2002, No. 108.877, Main Registration No. 1027739707203. Audit License No. E002138, approved by Order No. 223of the Russian Ministry of Finance dated September 30, 2002 for a term of five years, prolonged by Order No.573 of the Russian Ministry of Finance dated September 17, 2007 until September 30, 2012. Membership of an accredited professional auditors' association - ERNST & YOUNG LLC is a member of Non-profit Partnership «The Institute of Professional Accountants of Russia» («IPAR»). -
Vimpelcom Ltd
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F Registration Statement Pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934 OR ⌧ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2012 OR Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 OR Shell Company Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-34694 VIMPELCOM LTD. (Exact name of registrant as specified in its charter) Bermuda (Jurisdiction of incorporation or organization) Claude Debussylaan 88, 1082 MD, Amsterdam, the Netherlands (Address of principal executive offices) Jeffrey D. McGhie Group General Counsel & Chief Corporate Affairs Officer Claude Debussylaan 88, 1082 MD, Amsterdam, the Netherlands Tel: +31 20 797 7200 Fax: +31 20 797 7201 (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered American Depositary Shares, or ADSs, each representing one common share New York Stock Exchange Common shares, US$ 0.001 nominal value New York Stock Exchange* * Listed, not for trading or quotation purposes, but only in connection with the registration of ADSs pursuant to the requirements of the Securities and Exchange Commission. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 1,628,199,135 common shares, US$ 0.001 nominal value. -
Notification of Rostelecom Annual General
NOTIFICATION OF EXTRAORDINARY GENERAL SHAREHOLDERS’ MEETING NOTIFICATION OF ROSTELECOM EXTRAORDINARY GENERAL SHAREHOLDERS’ MEETING DEAR SHAREHOLDER! Notice is hereby given that Open Joint Stock Company Long-distance and International Telecommunications Rostelecom (hereinafter referred to as OJSC Rostelecom or the Company), located at 15 Dostoevskogo st., St. Petersburg, 191002, Russia, has decided to convene and conduct the Company’s Extraordinary General Shareholders’ Meeting in the form of absentee voting (hereinafter referred to as the Meeting or EGM), in compliance with Article 16 of the Company’s Charter, Article 65 of the Federal Law On Joint-Stock Companies No. 208-FZ dated December 26, 1995 and the decision of the Company’s Board of Directors dated May 15, 2013. The deadline for accepting voting ballots: June 26, 2013. Postal address for mailing voting ballots: OJSC “Obyedinennaya Registratsionnaya Kompaniya” (“United Registration Company”, the company running the register of the Company’s shareholders), 30 ulitsa Buzheninova, Moscow 107996, Russia. The list of persons who have the right to attend the Meeting is determined according to the register of the Company’s shareholders as of May 15, 2013. The Meeting Agenda: 1. Reorganization of the Company in the form of merger with and into the Company of Open Joint Stock Company Svyazinvest, Open Joint Stock Company NATIONAL TELECOMMUNICATIONS, Open Joint Stock Company National Cable Networks, Open Joint Stock Company St. Petersburg Cable Television Company, Closed Joint Stock Company -
Global Pay TV Fragments
Global pay TV fragments The top 503 pay TV operators will reach 853 million subscribers from the 1.02 billion global total by 2026. The top 50 operators accounted for 64% of the world’s pay TV subscribers by end-2020, with this proportion dropping to 62% by 2026. Pay TV subscribers by operator ranking (million) 1200 1000 143 165 38 45 800 74 80 102 102 600 224 215 400 200 423 412 0 2020 2026 Top 10 11-50 51-100 101-200 201+ Excluded from report The top 50 will lose 20 million subscribers over the next five years. However, operators beyond the top 100 will gain subscribers over the same period. Simon Murray, Principal Analyst at Digital TV Research, said: “Most industries consolidate as they mature. The pay TV sector is doing the opposite – fragmenting. Most of the subscriber growth will take place in developing countries where operators are not controlled by larger corporations.” By end-2020, 13 operators had more than 10 million pay TV subscribers. China and India will continue to dominate the top pay TV operator rankings, partly as their subscriber bases climb but also due to the US operators losing subscribers. Between 2020 and 2026, 307 of the 503 operators (61%) will gain subscribers, with 13 showing no change and 183 losing subscribers (36%). In 2020, 28 pay TV operators earned more than $1 billion in revenues, but this will drop to 24 operators by 2026. The Global Pay TV Operator Forecasts report covers 503 operators with 726 platforms [132 digital cable, 116 analog cable, 279 satellite, 142 IPTV and 57 DTT] across 135 countries. -
Investor Presentation
Investor Presentation May 2012 www.rt.ru Disclaimer By attending any meeting where this presentation is made, or by reading any part of this presentation, you acknowledge and agree to be bound by the following: This presentation has been prepared by OJSC Rostelecom (the “Company”). This presentation is strictly confidential to the recipient, may not be distributed to the press or any other person, and may not be reproduced in any form, in whole or in part. The Company has included its own estimates, assessments, adjustments and judgments in preparing certain market information herein, which have not been verified by an independent third party. Market information included herein is, therefore, unless otherwise attributed exclusively to a third party source, to a certain degree subjective. While the Company believes that its own estimates, assessments, adjustments and judgments are reasonable and that the market information prepared by the Company appropriately reflects the industry and the markets in which it operates, there is no assurance that the Company’s own estimates, assessments, adjustments and judgments are the most appropriate for making determinations relating to market information. Neither the Company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. This presentation is confidential and does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity in any jurisdiction. -
Any to Any MPLS for Mobile Backhaul
OCT 2015 VOL. 17 ● NO. 5 ● ISSUE 160 VIP Voices Telkom: Planning for Healthy Development Tech Forum Service Quality Management in PTN and IP RAN Special Moblie Backhaul Topic Any to Any MPLS for Mobile Backhaul Joddy Hernady, senior vice president of Synergy Department at Telkom Indonesia Enrique Blanco, Global CTO of Telefonica 05 CONTENTS ZTE TECHNOLOGIES OCT 2015 VIP Voices Telkom: Planning for Healthy Development 05 Reporters: Liu Yang and Zhang Ying Rostelecom Armenia Focuses on IPTV Services 10 Reporters: Liu Yang and Zhang Ying Joddy Hernady, senior vice president of Synergy Department at Telkom Indonesia DirecTV: Combining Pay-TV with Internet 13 Services to Win More Market Share Reporters: Liu Yang and Zhang Ying Telkom is the largest telecom services company in Indonesia. Joddy Hernady, senior vice president of Synergy Department at Telkom Indonesia, talked in the interview about Telkom’s investment strategy, development priorities, smart city deployment and Tech Forum main challenges in Indonesia. He also shared with us his expectations for the future cooperation between Telkom and ZTE and his views on global telecom trends. Service Quality Management in PTN and 16 IP RAN By Liu Aihua Special Topic: Mobile Backhaul Any to Any MPLS for Mobile Backhaul 19 By Cui Yanyun Introducing SDN into IP RAN 23 By Feng Zhijian Intelligent Backhaul Management 25 and Optimization By Zheng Pan Packet-Based Backhaul for Small Cell 10 27 By Zhang Yongjian, Zou Kaipu and Ma Xin 01 ZTE TECHNOLOGIES OCT 2015 19 ZTE TECHNOLOGIES Advisory Committee -
Regional Telecoms
Global Equity Research Sector Flash Fixed-line telecoms Russia 28 August 2008 Regional telecoms TPs cut 7%-37% on tighter margins ● The regional telecoms’ non-consolidated RAS EBITDA margins lost 1pp-4pp y-o-y in 1H08 due to outpacing cost growth. Operating expenses (less depreciation) rose 8%-15% y-o-y in rubles (compared to top-line growth of 4%-8%), mainly driven by higher staff costs, interconnect payments and SG&A. As a result, four of the seven incumbents saw EBITDA decline 2%-7% y-o-y in rubles. ● We expect the underlying salary and interconnect cost increases to be reflected in the incumbents’ 1H08 IFRS results (due in September) despite the accounting differences. We reduce our 2008F EBITDA estimates for all the regional telecoms except Dalsvyaz by 5%- 15%, and now expect EBITDA margins of 28%-35% vs. our previous estimate of 32%-36%. ● We raise our projections for capex on acquisitions this year to reflect the companies’ spending on minority stakes in Hybrid Print Systems. We increase our 2008F capex/sales ratio for Centertelecom from 19% to 29%, as the company raised its 2008F capex guidance. ● We cut our 12-month TPs by 7%-37% due to lower operational forecasts and higher capex projections. We downgrade Centertelecom from Buy to Hold, following a 37% decrease in its 12-month TP to $0.49. We upgrade Southern Telecom from Sell to Hold due to the stock’s recent weakness, and maintain our Buy ratings for North-West Telecom, VolgaTelecom, Uralsvyazinform, Sibirtelecom and Dalsvyaz. ● Our top picks are Dalsvyaz and VolgaTelecom, given their upsides of 116% and 83%, respectively, to our new target prices and the fact that their 2008F EV/EBITDA multiples are below 3X. -
APPROVED by the Annual General Shareholders' Meeting of OJSC
APPROVED by the Annual General Shareholders’ Meeting of OJSC Rostelecom June 14, 2012 Minutes #1 dated June 18, 2012 ANNUAL REPORT FOR THE LONG-DISTANCE AND INTERNATIONAL TELECOMMUNICATIONS OPEN JOINT STOCK COMPANY ROSTELECOM BASED ON YEAR 2011 RESULTS President of OJSC Rostelecom s/s A. Yu. Provorotov Chief Accountant of OJSC Rostelecom s/s R.A. Frolov April 27, 2012 Moscow, 2012 ANNUAL REPORT CONTENTS OJSC ROSTELECOM AT A GLANCE ............................................................................................................. 4 THE CHAIRMAN’S STATEMENT ..................................................................................................................... 5 THE PRESIDENT’S MESSAGE ........................................................................................................................ 6 CALENDAR OF 2011 EVENTS ......................................................................................................................... 8 THE COMPANY’S POSITION IN THE INDUSTRY ......................................................................................... 10 THE COMPANY AND THE BOARD OF DIRECTORS’ REVIEW OF THE YEAR 2011 ................................ 15 GUARANTEE OF HIGH QUALITY COMMUNICATION SERVICES ........................................................... 16 DEVELOPING RETAIL RELATIONSHIPS .................................................................................................. 17 RUSSIAN OPERATORS MARKET .............................................................................................................