VimpelCom Reports Q1

Russian wireless carrier reports net income totaled $150.2 million, a year-on-year increase of 37%

June 1, 2006

1 Min Read

MOSCOW and NEW YORK -- Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), a leading provider of wireless telecommunications services in Russia and Kazakhstan, with newly acquired operations in Ukraine, Uzbekistan and Tajikistan, today announced its financial and operating results for the first quarter ended March 31, 2006. During the first quarter of 2006 the Company reported continued growth in new subscribers and improved financial results.

The principal results of operations with comments are presented in the following tables. All definitions are presented in Attachment A. The condensed consolidated financial statements of VimpelCom are presented in Attachment B. Reconciliation of each of OIBDA, OIBDA margin, ARPU and SAC to the most directly comparable U.S. GAAP financial measures appear in Attachment C.

Financial and Operating Highlights

  • Net operating revenues reached $936.2 million, a year-on-year increase of 46%.

  • OIBDA reached $482.6 million, a year-on-year increase of 58%.

  • OIBDA margin was 51.6%.

  • Net income totaled $150.2 million, a year-on-year increase of 37%.

  • Operating cash flow was $362.9 million, a year-on-year increase of 69%.

  • Approximately 50.0 million subscribers as of June 1, 2006 including 3.7 million subscribers in the CIS outside of Russia

  • Strong growth and improved subscriber market share in Kazakhstan.

  • Two mobile operators were acquired in Uzbekistan bringing to five the number of countries where VimpelCom operates.

VimpelCom Ltd. (NYSE: VIP)

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