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Vimpelcom sales down 9% in Q3, net profit halves

Wednesday 12 November 2014 | 09:09 CET | News

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Vimpelcom's net profit more than halved in the third quarter, to USD 104 million from USD 255 million a year ago, due to costs for refinancing its Italian subsidiary Wind and negative currency effects. EBITDA declined 11 percent to USD 2.21 billion, and revenues fell 9 percent to USD 5.15 billion. On an organic basis, revenues fell 3 percent in Russia, 6 percent in Ukraine, 2 percent in Italy and 4 percent in its Asia and Africa division. Only the CIS division showed growth of 5 percent. Vimpelcom said the operating results were affected by macroeconomic weakness, currency fluctuations and

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