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Vimpelcom underlying sales up 4% in Q1, EBITDA 2% higher
2016-05-12 08:35:00| Telecompaper Headlines
(Telecompaper) Vimpelcom reported a small improvement in underlying results in the first quarter, with revenues up 4 percent and EBITDA growing 2 percent on an organic basis. However, negative currency effects and weak conditions in many of its markets, especially Russia and Kazakhstan, led to a 12 percent drop in reported revenue to USD 2.023 billion. Adjusted EBITDA fell 15 percent to USD 799 million, hurt also by USD 40 million in restructuring charges, and the margin was down 1.4 percent points year-on-year to 39.5 percent. Vimpelcom classified its Italian unit Wind as a discontinued activity held for sale, leading to a net profit from continuing activities of USD 38 million versus a loss of USD 88 million a year ago.
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Category:Telecommunications