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4G/3G/WiFi

Vimpelcom Reports Q2 Profit of $573M

AMSTERDAM -- KEY RESULTS AND DEVELOPMENTS IN 2Q13

  • Revenues of USD 5.7 billion; organic growth of 1% YoY
  • EBITDA of USD 2.4 billion, impacted by forex, MTR cuts in Italy and one-off charges
  • Strong EBITDA margin of 42.4%
  • Total mobile subscriber base increased 5% YoY2 to 215 million
  • Net cash from operating activities increased 3% YoY to USD 1.4 billion
  • Net income attributable to VimpelCom shareholders increased 17% YoY to USD 573 million

    "VimpelCom Ltd" ("VimpelCom", "Company" or "Group") (VIP), a leading global provider of telecommunications services, today announces operating and financial results for the quarter ended June 30, 2013.

    JO LUNDER, CHIEF EXECUTIVE OFFICER, COMMENTS:
    "VimpelCom continued to report positive organic revenue growth in the second quarter, despite the negative impact of regulatory and governmental measures, driven by strong performances in our Russia and CIS units. EBITDA on an organic basis fell by 1% due to the MTR cuts in Italy and certain one-off charges. Underlying organic EBITDA growth, excluding these effects, would have been 3% YoY. Mobile data revenues have again been strong in the quarter, increasing by 37% year-on-year in both Russia and Italy. Operational cash flow, defined as EBITDA minus CAPEX, increased 12% year-on-year to USD 1.6 billion, increasing the operational cash flow generated in the last twelve months to 26% of revenues. These are solid results in the context of increasing competitive intensity and regulatory pressures in several of our markets. I remain confident that VimpelCom will deliver on its strategic objectives as a result of our continuing focus on operational excellence, cost control and customer excellence."

    VimpelCom Ltd.
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