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VimpelCom Announces Third Quarter and Nine Month 2007 Financial and Operating Results
30 Nov 2007
Moscow and New York (November 29, 2007) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), a leading provider of wireless telecommunications services in Russia and the Commonwealth of Independent States (CIS) today announced its financial and operating results for the quarter and nine months ended September 30, 2007.
Financial and Operating Highlights
- Net operating revenues reached a record high US $1,955.9 million in the third quarter, a year-on-year increase of 43.9% and a quarter-on-quarter increase of 13.9%.
- OIBDA reached a record high US $1,015.2 million, a year-on-year increase of 41.4% and a quarter-on-quarter increase of 13.2%.
- OIBDA margin was 51.9%, including 52.7% in Russia and 52.7% in Kazakhstan.
- Net income totaled a record high US $458.0 million, a year-on-year increase of 70.7%.
- Operating cash flow reached a record high US $856.5 million, a year-on-year increase of 34.1%.
- MOU and ARPU grew sequentially, including 8.9% ARPU growth in Russia
Commenting on today’s announcement, Alexander Izosimov, Chief Executive Officer of VimpelCom, said, "It was another strong quarter for VimpelCom. The Company achieved all-time records in key financial parameters: revenue, OIBDA, net income and operating cash flow.
"We are pleased with our progress in Russia and in the CIS countries, particularly in Ukraine and Uzbekistan. On the back of strong revenue growth, OIBDA of our Ukrainian business moved into positive territory, confirming our ability to build a profitable business in that country. In Uzbekistan, we built our market share, while improving margins.
"We believe that the increasing usage in Russia and expanding subscriber base in the CIS countries will continue to keep our business growing robustly".
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VimpelCom Ltd.
Altimo, a leading private equity group, operating on some of the world's most desirable and potentially lucrative mobile telecommunications markets, was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium (VimpelCom Ltd., MegaFon and Turkcell Iletisim Hizmetleri A.S.). Those assets are in Russia, the CIS and other promising emerging markets.
VimpelCom Ltd. provides voice and data services through a range of wireless, fixed and broadband technologies. VimpelCom Ltd. is headquartered in Amsterdam and has operations in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Georgia, Armenia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Canada, Italy, Pakistan, Burundi, Namibia, Zimbabwe and Central African Republic covering territory with a total population of about 843 million with over 181 mln subscribers. VimpelCom Ltd. operating companies provide services under the "Beeline", "Kyivstar", "Djuice", "Wind", "Infostrada", "Mobilink", "Leo", "Banglalink", "Telecel" and "Djezzy" brands. VimpelCom Ltd. is traded on the New York Stock Exchange under the symbol "VIP". As of 31 December 2010, Altimo owned 44.65% of the voting shares of VimpelCom Ltd. (since June 2011 - 24.99%).
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