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 Tuesday, 12 April 2011

Russia-based telecoms group Vimpelcom has announced revenues of USD10.5 billion for the twelve months ended 31 December 2010. This figure represents an increase of 20.8% on 2009. Net income for the same period was USD1.7 billion, a rise of 4.5% year-on-year, while adjusted OIBDA was up 15.4% to USD4.9 billion. CAPEX for FY10 was reported as USD2.2 billion, or 19.2% of revenues. Alongside improved economic conditions in its markets, Vimpelcom credits growth to its consolidation of Kyvistar in Ukraine; the long-running deal, which saw Telenor and Altimo merge their respective 56.5% and 43.5% stakes in Kyivstar into the Vimpelcom group was finally approved by Ukraine’s Antimonopoly Committee (AMCU) in October 2010.

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Source: TeleGeography