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September 3, 2010

VimpelCom Q2 revenues up 23% to $2.64bn

Operating income increased to $769m

By CBR Staff Writer

VimpelCom has reported total revenues of $2.64bn for the second quarter of 2010, an increase of 23.1% as compared to $2.14bn of the same quarter prior year.

The company’s operating income for the second quarter was $769m as compared to $691m of the same period last year.

For the quarter ended 30 June 2010, the company posted net income of $349m, or $0.28 per diluted share, as compared to $708m, or $0.69 per share, for the same period last year.

VimpelCom CEO Alexander Izosimov said that the company’s second quarter revenues increased substantially as a result of both Kyivstar consolidation and strong organic growth across all key segments of our business.

"The mobile segment in Russia delivered its highest ever quarterly ruble revenues. Quarterly revenue and margin dynamics in Ukraine improved substantially on a like-for-like basis. In Kazakhstan, our largest market in the CIS segment, the strong quarterly results also reflect the macroeconomic recovery," Izosimov said.

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