Operating income analysis

Operating expenses structure (excluding depreciation, amortisation and impairment losses)


RUB million 2013 2012 % change,
y–o–y
Personnel costs 91,002 88,815 2%
Interconnection charges 49,746 48,858 2%
Materials, repairs and maintenance, utilities 28,495 28,483 0.04%
Other operating income (15,929) (14,749) 8%
Other operating expenses 59,108 60,686 (3%)
Total operating expenses 212,422 212,092 0.2%

Operating expenses excluding amortization for the full year 2013 remained flat compared to the corresponding period of last year and amounted to RUB 212.4 billion.

Operating income for the full year of 2013 amounted to RUB 44.9 billion compared to RUB 53.8 billion in 2012.

In the full year of 2013, OIBDA amounted to RUB113.3 billion compared to RUB 120.3 in 2012. The OIBDA margin was 34.8% in 2013.

Deviation in OIBDA and operating income was influenced by the following factors:

  • one-off effect in 1Q2012
  • a 2% y-o-y, or RUB 2.2 bln, increase in personnel costs to RUB 91 bln, due to:
    • increase in social and non-governmental pension security expenses in the amount of RUB 0.6 bln due to changes in IFRS 19
    • mandatory one-off payments to personnel of Svyazinvest and subsidiary companies merged with Rostelecom on October 1, 2013 in the amount of RUB 0.8 bln.
  • a 2% y-o-y increase in interconnection charges to RUB 49.7 billion

OIBDA trends, RUB billion