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Amsterdam and New York (September 2, 2010) - “VimpelCom
Ltd” (“VimpelCom” or the “Company”) (NYSE: VIP), a leading
international provider of telecommunications services, today
announced its operating and financial results for the quarter ended
June 30, 2010.
Quarterly highlights:
- Combination of OJSC VimpelCom and Kyivstar into
VimpelCom Ltd. completed April 21, 2010*
- Number of mobile subscriptions up to 89.4 million; broadband
subscriptions grew to 2.7 million
- Net operating revenues increased by 23% year-on-year to
$2.64 billion
- Adjusted OIBDA** reached $1.26 billion, consolidated OIBDA
margin comprised 47.8%
- Net income attributable to VimpelCom was $334.7
million
- Operating cash flow amounted to $1.0 billion
* On April 21, 2010, following the successful completion of
VimpelCom’s exchange offer for common and American depositary
shares of OJSC VimpelCom, VimpelCom’s two strategic shareholders
completed the acquisition of OJSC VimpelCom and Kyivstar by
VimpelCom Ltd. This transaction was accounted for as the
acquisition of Kyivstar by VimpelCom Ltd., an accounting successor
of OJSC VimpelCom. Therefore, the financial results of Kyivstar
have been included in the consolidated financial results of the
Company since April 21, 2010. The financial results for the periods
prior to April 21, 2010 represent the historical financial results
of OJSC VimpelCom.
** Hereafter Adjusted OIBDA is referred to as OIBDA and
Adjusted OIBDA margin is referred to as OIBDA margin (See
definitions of Adjusted OIBDA and Adjusted OIBDA margin in
Attachment A)
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