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Vimpelcom net profit halves in Q3
2013-11-06 09:26:00| Telecompaper Headlines
(Telecompaper) Vimpelcom's net profit for the third quarter halved to USD 255 million from USD 538 million a year earlier, as the company suffered from competitive and regulatory pressures in key markets such as Russia, Italy and Ukraine. Revenues fell 1 percent to USD 5.685 billion, and EBITDA was down 2 percent to USD 2.474 billion. The EBITDA margin fell by half a percent point to 43.5 percent. Vimpelcom blamed the lower results on a number of government and regulatory effects, such as termination rate cuts in Italy and forced network shutdowns in Pakistan, as well as increased commercial costs in Ukraine and other markets. There was a 25 percent increase in capex to USD 1.040 billion in Q3, in part due to acquiring a 3G licence in Bangladesh. Operating cash flow fell 16 percent to USD 1.675 billion. Vimpelcom still grew its mobile customer base 5 percent year-on-year to 219 million at the end of September, mainly due to growth in Africa and Asia. CEO Jo Lunder said the group will continue to invest to support growth in mobile data services, particularly in Russia, while also taking measures to improve operations such as Ukraine.
VimpelCom Q3 profit more than halves
2013-11-06 01:00:00| Total Telecom industry news
Russian telco earnings hit by regulation, market slowdown.
Tags: than
profit
halves
vimpelcom
VimpelCom promotes Kudryashov to lead business development
2013-09-04 12:59:00| Telecompaper Headlines
(Telecompaper) Provider of telecommunications services VimpelCom has promoted Anton Kudryashov to chief group business development and portfolio officer from 14 October. Kudryashov will be based at the group headquarters in Amsterdam, responsible for business development and mergers and acquisitions, as well as strategic business control. His contract has been extended to 31 December 2016. Mikhail Slobodin (40) will replace Kudryashov as head of the Russia business unit, effective immediately. Slobodin comes from the energy group TNK-BP, where he was executive VP of strategy and new business development.
Tags: business
development
lead
promotes
VimpelCom appoints Slobodin as new Russia CEO
2013-09-04 02:00:00| Total Telecom industry news
Current chief Anton Kudryashov named head of group business development.
Tags: russia
ceo
appoints
vimpelcom
Vimpelcom hires former Verizon Wireless finance chief
2013-08-07 23:24:21| Telecom - Topix.net
Russia's third-largest mobile operator Vimpelcom has hired the former finance chief of the biggest U.S. mobile provider Verizon Wireless, as it strives to cut its $23 billion debt.
Tags: finance
chief
wireless
verizon
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