OREANDA-NEWS. On December 21, 2007 Sistema (the "Group") (LSE: SSA), the largest diversified public corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, announced its unaudited consolidated US GAAP financial results for the third quarter and the nine months ended September 30, 2007, reported the press-centre of Sistema.
 
HIGHLIGHTS FOR THE THIRD QUARTER
Consolidated revenues up 36,9% year on year to US$ 3,7 billion
OIBDA up 2,4% year on year to US$ 1,4 billion and OIBDA margin of 37,7%
Operating income of US$ 943,2 million and operating margin of 25,4%
Net income of US$ 228,2 million
Earnings per share of US cent 2,46

HIGHLIGHTS FOR THE NINE MONTHS OF 2007
Consolidated revenues up 36,4% year on year to US$ 9,6 billion
OIBDA up 19,8% year on year to US$ 3,6 billion and OIBDA margin of 37,2%
Operating income up 15,3% year on year to US$ 2,4 billion and operating margin of 24,7%
Net income up 36,4% year on year to US$ 1,1 billion
Total consolidated assets up 31,3% year on year to US$ 24,2 billion
Earnings per share up 40,8% year on year to US cent 11,85

Alexander Goncharuk, President and Chief Executive Officer of Sistema, commented: "We have delivered another quarter of strong revenue growth across our Group companies with US$ 9,6 billion in total revenues generated year to date. Our profitability has increased from the levels achieved in the first half of 2007 as we continue to focus on streamlining our operations and offering competitive products.
 
In line with our strategy of developing non-public fast-growing businesses we have further expanded our banking and retail networks and acquired a 48% stake in Dalcombank, which extended our presence to the Russia's Far East region. Our telecom companies have made a number of scale acquisitions in the Russian regions and the CIS both in the mobile and alternative telecoms segments.
 
We have also taken steps to increase the liquidity of our local shares by announcing a 1,000 times share split and the listing of our shares on the Moscow Interbank Currency Exchange (MICEX) in addition to RTS and MSE listings during the quarter.
 
We continue to be fully committed to executing on our strategy through profitable growth and development of our portfolio of non-listed companies in the existing business segments."