RBC doubled revenue in 2006 to $207.8m

translator — Wed, 28 Mar 2007 20:27:39 +0400

According to the preliminary results for the full year 2006 released by RBC Information Systems (RTS, MICEX: RBCI) group's total revenue rises 90% to $207.8m due to strong underlying growth in the Media and IT segments and contributions from recent acquisitions. Consolidated EBITDA grew 84% to $54.5m and consolidated net income advanced 77% to $36.9m.

Commenting on the results RBC Chairman and CEO German Kaplun said, "This year RBC will keep aggressively investing in startup projects and acquisitions to build a large loyal audience in the area of mass market Internet and become a powerful force in the digital media in Russia, the CIS and Eastern Europe. These investments are expected to influence this year's financial results, but will benefit the company in the following years".

As reported earlier, RBC's Internet business is in the process of separation to an independent company Media Mir. This new company will spend $120m expanding into the general interest web segment in Russia, former USSR republics and Eastern Europe.

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RBC doubled revenue in 2006 to $207.8m