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Russia's Rostelecom sees flat revenues in 2015


MOSCOW, March 16 (Reuters) - Russian state-controlled telecoms provider Rostelecom said on Monday it expected revenues to be flat in 2015, citing uncertainty over macroeconomic conditions.

The company spun off mobile business last year into a joint venture where it has a non-controlling stake and said it would focus on its core fixed business, hoping to offset declines in landline telephony with broadband and pay-TV.

It reported a net loss from fixed line business of 2 billion roubles ($32.2 million) for the fourth quarter compared to net profit of 2.7 billion a year ago due to the paper revaluation of financial instruments and goodwill revaluation.

Fixed-line revenues grew 3 percent to 78.9 billion roubles and operating income before depreciation and amortisation (OIBDA) rose 6 percent to 25 billion roubles, it said in a statement.

"We continue to expand our broadband, pay-TV, and other packaged services and increase our revenues from these growing market segments," said Chief Financial Officer Kai-Uwe Mehlhorn.

"While our business is resilient to macro volatility, against a backdrop of uncertainty we must be pragmatic and take a conservative view of our guidance for 2015," he added.

Rostelecom said it expects an OIBDA margin of above 30 percent this year after around 34 percent in 2014.

($1 = 62.1930 roubles)

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