OREANDA-NEWS. November 19, 2009. OJSC Rosinter Restaurants Holding (Rosinter), the leading chain of casual dining restaurants in Russia and the CIS (RTS, MICEX ticker: ROST), announced its unaudited interim financial results, prepared in accordance with IFRS for the sixmonth period ended June 30, 2009.

The Unaudited Interim Condensed Financial Statements for the six-month period ended June 30, 2009 are available for downloading at our web page www.rosinter.com

1H 2009 FINANCIAL HIGHLIGHTS:
Revenue
US124.1 mln in 1H 2009 (RUR 4,104.7 mln (*)) compared with US164.9 mln in 1H 2008 (RUR 3,947.5 mln), an increase of 4.0% in RUB terms (a decrease of 24.7% in US terms including a 38.1% negative impact of Ruble devaluation)

Profit from operating activity after impairment
US5.0 mln in 1H 2009 (RUB 164.2 mln) compared with US7.0 mln (RUB 168.2 mln) in 1H 2008

Operating margin at 4.0% in 1H 2009 compared with 4.3% in 1H 2009

 EBITDA
US11.2 mln in 1H 2009 (RUB 369.3 mln) compared with US12.6 mln (RUB 302.1 mln) in 1H 2008

EBITDA margin at 9.0% in 1H 2009 compared with 7.7% in 1H 2008

Net profit/loss
Loss of US2.6 mln (RUB 86.1 mln) in 1H 2009 compared with profit of US0.8 mln (RUB 19.1 mln) in 1H 2008

NAT margin at -2.1% in 1H 2009 compared with 0.5% in 1H 2008

Net Cash Flow from operating activities
US18.3 mln in 1H 2009 (RUB 606.3 mln) compared with US11.6 mln in 1H 2008 (RUB 277.5 mln), an increase of 58.2% in US terms and 118.4% in RUB terms

Debt and debt structure
US69.3 mln by end 1H 2009 (RUB 2,167.2 (**)) compared with US82.7 mln by  end 2008 (RUB 2,429.8 mln)

Our short-term debt decreased as % of total debt from 95.5% by end 2008 to 51.2% by end 1H 2009

(*) Average FX rates during 1H 2008 and 1H 2009 were RUB/US 23.9440 and 33.0679 correspondingly
(**) Closing FX rates as at December 31, 2008 and June 30, 2009 were RUB/US 29.3804 and 31.2904, respectively

Sergey Beshev, CEO commented:
“In 1H 2009 our net cash flow from operating activity in US increased by 58.2% (118.4% increase in Rubles) in comparison with the same period of 2008 and we were able to decrease our debt level and improve its maturity profile, as a result of our very tight cash flow management and strong focus on delivering more affordable dining experience to our guests with our well known brands. We are pleased so far with the promising revenue dynamic in fourth quarter, our traditional high season, which is supported by new menus and seasonal promotions in our restaurants. Looking forward, we are addressing areas of enhancement for our business model, seeking additional value for our shareholders, mainly through enhanced profitability of our three core brands – IL Patio, Planet Sushi and TGIF – and increased efficiency of our support structure”.