OREANDA-NEWS. August 10, 2012. Open Joint Stock Company "MegaFon" ("MegaFon", or the "Company"), a Russian universal telecommunications operator, announces its consolidated financial results for the second quarter ended June 30, 2012.

Key Consolidated Financial and Operational Results for the second quarter ended June 30, 2012

Consolidated revenue grew by 14,0% year-on-year (y-o-y), to RUR 66,760 million.

OIBDA increased by 12,0% y-o-y, to RUR 28,263 million.

OIBDA margin was 42,3% versus 43,1% in the same quarter of last year.

Net income decreased by 85,0% y-o-y, to RUR 1,702 million.

Free cash flow for the six months ended June 30, 2012 reached RUR 26,867 million.

The number of active mobile subscribers as of June 30, 2012 was 63,6 million2, an increase of 0,8% over the prior quarter.

Ivan Tavrin, Chief Executive Officer of MegaFon, commented on the financial and operational results as follows:

"We had a remarkable quarter in terms of performance and our business continues to grow. With a double digit topline growth of 14.0% on a year on year basis and robust OIBDA growth we have delivered solid operating results. Nonetheless our net income was impacted negatively by a foreign exchange loss arising from the revaluation of our increased US dollar-denominated obligations due to the significant depreciation of the Ruble against the US Dollar in the second quarter of 2012. We continue to maintain our leadership in the data transfer market, with a Russian data revenue share of over 40%, and by recently launching 4G/LTE services in Moscow and in a number of other key Russian cities we continue to demonstrate our commitment to being an innovator and providing high level, top quality products and services to our clients."