OREANDA-NEWS. Golden Telecom has posted its 3Q07 results. Revenues went up to $350.4 mln on the back of strong performance of core business lines. The business segment,  contributing 55% of total revenues, posted 47% y-o-y growth. The wholesale segment, which provided 37% of total revenues, grew 51%. Meanwhile, the consumer internet division soared by 102% thanks to new customers and the consolidation of Corbina Telecom. EBITDA grew by 34% y-o-y, yielding $85.1 mln, or $93.0 mln if adjusted for equity based compensation (EBC). In line with Alfa-Bank experts' forecasts, 3Q07 did not see an improvement in margins, so the unadjusted EBITDA margin was only 24.3%, down from 27.6% in 2Q07.

In July, Golden Telecom sold its 23% stake in MCT to TeliaSonera for a cash consideration of up to $48 mln. Golden Telecom’s investment in MCT had a carrying value of zero, and consequently the full $41.3 mln consideration received so far went to 3Q07 earnings, driving net income up by 207% to $74.4 mln. 

Alfa-Bank's analysts see this news as positive for the company, "as the reported results are slightly above market consensus and add visibility to the promising consumer broadband segment."