Sistema JSFC (“Sistema”, the “Group” or the “Company”) has announced its unaudited consolidated US GAAP financial results for the second quarter ended June 30, 2012.
The Group’s consolidated results for the second quarter of 2012 were impacted by a 10.8% year-on-year rouble depreciation against the US dollar. Non-cash one-off loss (“one-off”) of US$ 1,079.0 million was also recognised relating to impairments and provisions with regard to MTS’ operations in Uzbekistan.
Mikhail Shamolin, President & CEO, Sistema, said, “We are pleased to report second quarter results reflecting a solid operational performance in our key investments. Despite the effects of rouble depreciation and one-off write down in MTS, we are seeing consistent and sustainable growth in our portfolio companies."
