Investor Presentaiton
MTS
a step ahead
+15%
+2%
+14%
Total
35.0
Armenia
18.7
20.7
18.9
19.1
16.3
16.7
Revenue
Armenia financial highlights
+2%
35.8
(AMD bln)
Q1 2011 Q2 2011
Q3 2011
Q4 2011
Q1 2012 Q2 2012
H1 2011 H1 2012
Total
+22%
-2%
-12%
Armenia
11.9
18.4
10.1
11.3
8.3
9.6
9.9
OIBDA
+16%
21.3
(AMD bln)
Q1 2011
Q2 2011
Q3 2011
Q4 2011
Q1 2012
Q2 2012
H1 2011
H1 2012
OIBDA margin
51.0%
54.2%
57.3%
50.5%
68.0%
52.1%
52.7%
59.5%
Q1 2011
Q2 2011
Q3 2011
Q4 2011
Q1 2012
Q2 2012
H1 2011
H1 2012
*One-off effect from equipment swap resulting in the recognition of an additional AMD 3.52 bln of OIBDA in Q1 2012
Quarterly revenue growth
impacted by positive
seasonal factors and
improving competitive
environment
■ Quarter-over-quarter
OIBDA dynamics inline
with revenue and seasonal
trends when adjusted for a
one-off in Q1 2012*
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