Moscow and New York (August 30, 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 six months ended June 30, 2007.
Financial and Operating Highlights
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Net operating revenues reached a record high $1,717.2 million in the second quarter, a year-on-year increase of 53.1% and a quarter-on-quarter increase of 15.4%.
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OIBDA reached a record high $896.8 million, a year-on-year increase of 59.7% and a quarter-onquarter increase of 17.0%.
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OIBDA margin reached 52.2%, including 53.4% in Russia and 53.7% in Kazakhstan.
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Net income totaled a record high $359.3 million, a year-on-year increase of 84.3%.
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Operating cash flow reached a record high $695.6 million, a year-on-year increase of 61.7%.
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MOU and ARPU grew sequentially in all markets, including 12.8% ARPU growth in Russia.
Commenting on today’s announcement, Alexander Izosimov, Chief Executive Officer of VimpelCom, said, “It was another very strong quarter for VimpelCom. The Company achieved all-time records in key financial parameters: revenue, OIBDA, net income and operating cash flow. The strength of our business was further supported by growth of operating parameters, including ARPU and MOU simultaneously in all the markets where we operate. This further validates our belief in the high growth potential of the CIS which is becoming an increasingly important part of our business.”
“We are also pleased to note that our OIBDA grew at a remarkable pace of almost 60% year-on-year. Moreover, the fact that our OIBDA grew faster than revenues illustrates that we continue to gain efficiency.”
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