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 $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 $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 $458.0 million, a year-on-year increase of 70.7%.
- Operating cash flow reached a record high $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 announces third quarter and nine month 2007
financial and operating results
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