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Investor Presentaiton

MTS a step ahead 2 612.8 2 647.1 2 584.5 2 328.3 FY2008 FY2009 FY2010 FY2011 =2 700 or 20-22% of revenue* 1 124.9 H1 2012 Russia 1 784.7 1 389.7 2 260.0 2 245.7 1 000.5 Ukraine 595.6 377.4 154.9 148.0 40.2 Uzbekistan 139.7 460.3 157.9 145.7 80.8 Turkmenistan 58.2 52.4 44.4 n/a n/a Armenia 34.6 48.5 29.9 45.0 3.4 Group 2 612.8 2 328.3 2 647.1 2 584.5 1 124.9 - as % of revenue 22.0% 23.7% 23.4% 21.0% 18.3% (in USD mln) 2008 2009 2010 2011 H1 2012 * Estimated CAPEX spend for 2012E Group capital expenditures ■ Capital expenditures for the first half of 2012 came in at $1 124.9 mln Continuation of 3G network build-out in Russia with a total of 25 000 3G base stations at the end of Q2 2012 Modernization of regional fixed-line networks GPON project in Moscow 00 8
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