Vimpelcom hits the headlines for the right reasons for once

26 Aug 2005

Russian mobile group Vimpelcom – consistently in the news due to the ongoing feud between its shareholders Telenor and Alfa Group – has reported a 76.5% growth in second quarter net, trouncing analysts’ expectations. After disappointing figures for the previous two quarters, Vimpelcom saw net income leap to USD158.84 million on the back of a 59.4% year-on-year increase in revenues to USD769.77 million; operating income before depreciation and amortisation (OIBDA) rose 61.7% to USD395.55 million.

Vimpelcom ended June with 33.7 million subscribers in Russia, of which 8.5 million were in Moscow, and 1.4 million users in Kazakhstan.

Russia, Beeline (Russia), VEON