Press releases | Archive 2012
RBC's Board of Directors approves key development goals for 2013
Moscow, December 20, 2012 — RBC OJSC (MICEX-RTS: RBCM) held a regular meeting of its Board of Directors on December 17, 2012, which among other issues on the agenda, elected Derk Sauer Chairman of the Board, determined the composition of the Board committees, and approved key development goals for 2013.
In 2013, RBC will focus on strengthening its leadership in the business information segment. Specifically, the company intends to expand by c.15% the global audience of its online business resources, RBC TV, and business print media titles by implementing the content and visual upgrades of its existing projects and launching new ones. In addition, RBC intends to restructure its key entertainment online projects to boost their competitive ability.
RBC will also seek to ensure above-market growth rates of advertising revenue for the company's core media assets by expanding audience outreach and changing pricing policies for the most high-demand advertising formats. RBC will continue efforts aimed at diversifying revenue by increasing the share of paid services from 30% to 35%, and also stepping up mobile advertising sales.
In 2013, the company will primarily focus on profitability and reaching a breakeven or near-breakeven point for RBC's loss-making businesses in terms of EBITDA.
While making concerted efforts to develop its core media assets, the company will also continue optimizing its asset portfolio by divesting non-core holdings. Capital expenditure is expected to total up to 8% of revenue in 2013.
Consequently, a growing free cash flow and the sale of non-core assets will enable RBC to deleverage in 2013.