RUSSIAN FEDERATION 13 MAY 2015
Vimpelcom Q1 revenues fall 30% on stronger dollar
Vimpelcom reported a sharp fall in first-quarter results, hurt by the stronger dollar. Revenues fell 30 percent to USD 3.515 billion, and EBITDA dropped 33 percent to USD 1.396 billion. On an organic basis, excluding the currency impact, service revenue fell 2 percent, with Russia stable, Italy down 5 percent, Algeria falling 11 percent, Pakistan down 4 percent, Ukraine up 5 percent and Bangladesh growing 10 percent. Net profit improved to USD 184 million from USD 38 million a year ago. Vimpelcom reduced ca