http://www.morningstar.com/earnings/50017169-mobile-telesystems-ojsc-adr-mbt-q4-2012.aspx

Mobile Telesystems OJSC ADR MBT
Q4 2012 Earnings Call Transcript

Transcript Call Date 03/19/2013

Operator: Good day and welcome to Mobile TeleSystems' Fourth Quarter and Full Year 2012 Financial and Operating Results Conference Call. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Joshua Tulgan. Please go ahead, sir.

Joshua B. Tulgan - Director, IR: Thank you very much. Welcome to MTS' conference call to discuss the Company's fourth quarter and full year 2012 financial and operating results. Before beginning our discussion, I would like to remind everyone that expect for historical information, comments made during this call may constitute forward-looking statements which may involve certain risks.

These statements may relate to any one of the following issues; the strategic development of MTS' business activities, both in Russia and abroad; revenue and/or subscriber growth; financial indicators such as operating income before depreciation and amortization, average revenue per user and cash flow projections; debt instruments and our usage; legal actions or proceedings directed at the Company or its representatives; regulatory developments and their impact on the Company's operations and the markets in which we operate; technical matters as they pertain to our communications networks, including equipment, licensing our network technologies; activities and lines of business that complements our communications networks; capital expenditures and operating expenses and macroeconomic developments within our markets of operation. A comprehensive overview of these issues is available in MTS' Annual Report and Form 20-F, which is available on our website or through the U.S. SEC.

Important factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements. These statements may include Company press releases, earnings presentations, MTS' Form 20-F, as well as other public filings made by the Company within the United States SEC, all of which are available on the MTS' website www.mtsgsm.com or that of the U.S. SEC at www.sec.gov.

MTS disavows any obligation to update any previously made forward-looking statements spoken on this conference call or made any adjustments to previously made statements to reflect changes in risks. Copies of the presentations and materials used and referenced in this conference call are available on our Company website.

I'll now turn the call over to Mr. Andrei Dubovskov, President and Chief Executive Officer of MTS.

Andrei Dubovskov - CEO: Ladies and gentlemen, thank you for joining us on today's conference call to discuss the Company's financial and operating results of the fourth quarter and full year 2012. Joining me today are Alexey Kornya, Vice President, Chief Financial Officer; Aleksander Popovskiy, Vice President, Chief Operating Officer; Vasyl Latsanych, Vice President, Chief Marketing Officer; and Michael Hecker, Vice President, Strategy and Corporate Development and M&A.

For the year 2012, Group revenues increased by 1% to $12.4 billion. Overall, we saw strong operating dynamics in our core market. However, our Group top line performance was limited by a significant weakening of the Russian ruble versus the U.S. dollar and the mid-year suspension of our operations in Uzbekistan.

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