LenSpetsSMU’s IFRS consolidated statements for 12M2008 placed on company’s financial site

01.06.2009

Today, at the financial site of LenSpetsSMU there was published the audited consolidated financial statements under IFRS for 2008.

In the end of the year,

- the total assets of LenSpetsSMU Group reached 36.1 billion rubles (compared to the value of the assets as at 31.12.2007 - 21.0 billion rubles),

- the pre-payments from clients (advances received from principal activity) increased by 94.5% y-o-y – from 10.3 billion rubles as for 31.12.2007 up to 20.1 billion rubles as for 31.12.2008,

- the equity increased from 1.7 up to 3.0 billion rubles (+75.1% y-o-y),

- the revenues for 2008 increased by 46.3% as compared to the previous year and reached the level of 13.0 billion rubles,

- the gross profit – increased by a factor of 1.4,

- EBITDA – increased by 80.7% (2.1 billion rubles in 2007 as opposed to 3.9 billion rubles in 2008),

- the net profit – increased by a factor of 1.3.

Item

2008

2007

Assets, ‘000’ rubles

36 055 120

21 188 764

Financial debt, ‘000’ rubles

6 619 439

6 654 803

Advances received on principal activity (pre-payments from clients)

20 078 920

10 324 543

Equity, ‘000’ rubles

3 048 046

1 741 091

Revenue, ‘000’ rubles

13 023 577

8 903 190

Gross profit, ‘000’ rubles

4 240 100

3 028 221

Interest payable, ‘000’ rubles

577 441

315 625

Net profit, ‘000’ rubles

1 839 264

1 389 547

EBITDA, ‘000’ rubles

3 863 394

2 138 053

Gross margin

32.6%

34.0%

EBITDA margin

29.7%

24.0%

Net margin

14.1%

15.6%

Financial debt / EBITDA

1.71

3.11

EBITDA / Interest payable

6.69

6.77

The reporting is accompanied by the independent auditors report confirming that the consolidated reporting reflects reliably the financial state of the Group as at December 31, 2008, as well as that the results of the Group's activities and cash flow for the 12 months ended at that date, are in full compliance with the International financial reporting standards.

To review company accounts, visit the company’s financial site.

CONTACT DETAILS

Mikhail Dukhovny, Director of Corporate Communications Department
Telephone: +7 (812) 348-21-25, e-mail: dukhovny_m@lenspecsmu.ru

Victor Vasenev, Deputy CFO
Telephone: +7 (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru