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Evraz , Sberbank, OGK-3, Sibirtelecom news briefs

By Finam

- Evraz has repaid USD 800 mn to VEB, with the remaining debt amounting to USD 1 bn. Mining and metallurgical Evraz Group has repaid a USD 800 mn loan facility to Vnesheconombank, the company reported. The outstanding debt is USD 1 bn, which is to be repaid by November 2010 during five quarters by way of USD201 mn installments. The company advised about early repayment of the USD800 mn loan facility out of its total debt of USD 8.6 bn. Evraz received the USD800 mn facility in December 2008 when the crisis took a toll on demand and prices of steel makers’ products in order to refinance short-term liabilities to a syndicate of foreign banks. The credit was secured by the group’s assets and shares in Evraz’s Canadian subsidiary. In 2010, the group in which Roman Abramovich holds a stake needs to repay USD2.5 bn, the company is considering various options to refinance this amount

- Sberbank “should” pay out dividends for 2009. Russia’s largest lender Sberbank should make dividend payouts for 2009, Sberbank CEO and board chairman German Gref told reporters. “Principles need to be adhered to. If profit is generated, dividends should be paid out,” he said declining to specify the amount. Sberbank expects to earn RUB 10-20 bn net profit in 2009, as 9M 2009 net profit came to RUB 10.3 bn. For the record, Sberbank paid out 10% of its net profit (RUB 109.9 bn) in 2008, or RUB 0.48 per common share and RUB 0.63 per preferred share.Russia’s largest lender Sberbank should make dividend payouts for 2009, Sberbank CEO and board chairman German Gref told reporters. “Principles need to be adhered to. If profit is generated, dividends should be paid out,” he said declining to specify the amount. Sberbank expects to earn RUB 10-20 bn net profit in 2009, as 9M 2009 net profit came to RUB 10.3 bn. For the record, Sberbank paid out 10% of its net profit (RUB 109.9 bn) in 2008, or RUB 0.48 per common share and RUB 0.63 per preferred share.

- OGK-3 will sell 1% of its treasury shares at a loss. The NorNickel-controlled genco has agreed to the sale of treasury shares in an attempt to fulfill the regulatory recommendation, although it will sell only 1.05% of some 4% of its shares nearly 3 times cheaper than they were bought back in 2008. OGK-3’s representative Maxim Radetsky said the genco’s board approved back on December 1 the sale of 500 mn shares to CIG Broker, part of CiG Group. The transaction is to be closed on Monday. The price of RUB 1.45 per share should generate RUB 725 mn from the sale of shares to OGK-3. The selling price was set at the minimum as of November 30. Radetsky declined to comment on the fate of the remaining 3% shares which were listed on the genco’s balance sheet as a result of its reorganization.The NorNickel-controlled genco has agreed to the sale of treasury shares in an attempt to fulfill the regulatory recommendation, although it will sell only 1.05% of some 4% of its shares nearly 3 times cheaper than they were bought back in 2008. OGK-3’s representative Maxim Radetsky said the genco’s board approved back on December 1 the sale of 500 mn shares to CIG Broker, part of CiG Group. The transaction is to be closed on Monday. The price of RUB 1.45 per share should generate RUB 725 mn from the sale of shares to OGK-3. The selling price was set at the minimum as of November 30. Radetsky declined to comment on the fate of the remaining 3% shares which were listed on the genco’s balance sheet as a result of its reorganization.

- Sibirtelecom’s net profit in 9M 2009 declined 29%. Siberian telecom operator in 9M 2009 posted a 29% downturn in net profit to RUB 1.82 bn due to rising expenses, the company reported Monday. Operating profit shrank during the reporting period 4.8% to RUB 5.27 bn on the back of rising expenses and lower operating income. Pre-tax profit fell 32.8% to RUB 2.43 bn due to weaker operating profit, higher interest payments and RUB 311 mn in forex losses. Revenue added 2.2% to RUB 28.54 bn, while opex rose 4.9% to RUB 24.27 bn. The company’s key revenue growth drivers are broadband expansion, with both the subscriber base and Internet traffic showing gains amid rising local voice revenue.Sibirtelecom’s net profit in 9M 2009 declined 29%. Siberian telecom operator in 9M 2009 posted a 29% downturn in net profit to RUB 1.82 bn due to rising expenses, the company reported Monday. Operating profit shrank during the reporting period 4.8% to RUB 5.27 bn on the back of rising expenses and lower operating income. Pre-tax profit fell 32.8% to RUB 2.43 bn due to weaker operating profit, higher interest payments and RUB 311 mn in forex losses. Revenue added 2.2% to RUB 28.54 bn, while opex rose 4.9% to RUB 24.27 bn. The company’s key revenue growth drivers are broadband expansion, with both the subscriber base and Internet traffic showing gains amid rising local voice revenue.