Vimpelcom results under pressure from regulation, forex

Wednesday 7 August 2013 | 09:10 CET | News
Vimpelcom reported second-quarter revenues stable and a small drop in EBITDA, as growth in its home market Russia was offset by a difficult Italian market and slowdown in Africa and Asia. Revenues were largely unchanged year-on-year at USD 5.72 billion, hurt by negative currency effects. EBITDA dropped 2 percent to USD 2.43 billion, and the margin fell to 42.4 percent from 43.2 a year ago. The company blamed the lower result on the termination rate cuts in Italy, tighter VoIP controls in Bangladesh and one-off charges of USD 43 million, relating to a settlement, restructuring charges, a fine

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Categories: Mobile & Wireless
Companies: Vimpelcom / Wind / Wind Mobile
Countries: World
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