Ukrtelecom improves EBITDA margin 5 pp in 1Q10

Ukrtelecom (UX: UTLM UK) decreased its net revenues 0.2% in 1Q10 to UAH 1.68 bln, according to 1Q10 financial results it reported in a company filing on Friday. Ukraine’s monopoly fixed-line telecom operator also said it had a net loss of UAH 36.1 mln in the period, down 5x yoy from 1Q09; and EBITDA of UAH 389.6 mln with margin of 23.2% (vs. EBITDA of UAH 298.7 mln in 1Q09, margin of 17.8%).