PR Newswire
AMSTERDAM, Nov. 3, 2016
AMSTERDAM, Nov. 3, 2016 /PRNewswire/ --
KEY RESULTS AND DEVELOPMENTS
VimpelCom Ltd. (NASDAQ: VIP), a leading global provider of telecommunications and digital services headquartered in Amsterdam and serving over 200 million customers, today announces financial and operating results for the quarter ended 30 September 2016. These results and the prior year numbers reflect the reclassification of Wind Italy as an asset held for sale pursuant to the announcement of signing of an agreement to form the joint venture with 3 Italia in August 2015.
JEAN-YVES CHARLIER, CHIEF EXECUTIVE OFFICER, COMMENTS:
"VimpelCom reported stable performance in the third quarter of this year, in line with expectations. Service revenue and underlying EBITDA rose by 0.6% in the quarter on an organic basis, with particularly strong performances in Pakistan and Ukraine. Our business in Italy also reported solid results, with EBITDA growth of 11%, prior to the closing of the joint venture, which is expected shortly. We also continue to grow mobile data revenue across our footprint, by 28% year on year. As a result, we remain on track to achieve our financial targets for the full year, although at the lower range for service revenue and underlying EBITDA margin, while the capex to revenue ratio is trending towards 17%.
Our strategic plan to transform VimpelCom remains well underway with this quarter's closing of our merger in Pakistan and the approval from the EU and Italian authorities of our joint venture in Italy. Furthermore, Telenor's sale of a part of its stake in VimpelCom is an important milestone in our transformational journey, nearly doubling the size of our free float. Finally, We are also pleased to announce today, as expected, an interim dividend of USD 3.5 cents per American Depositary Share."
CONSOLIDATED FINANCIAL AND OPERATING HIGHLIGHTS (ITALY RECLASSIFIED AS AN ASSET HELD FOR SALE FOR ALL PERIODS, WARID NUMBERS CONSOLIDATED FROM Q3 2016) 3Q16 3Q15 Reported Organic1 USD mln reported pro-forma reported Total revenue, of which 2,372 2,290 2,442 (3%) 0.8% mobile and fixed service revenue 2,287 2,209 2,364 (3%) 0.6% mobile data revenue 379 372 314 21% 28.0% EBITDA 896 876 58 n.m. n.m. EBITDA underlying2 962 942 1,017 (5%) 0.6% EBITDA margin underlying (EBITDA underlying / total revenue) 40.6% 41.1% 41.7% (1.1p.p.) 0.0p.p. Profit/(loss) from continued operations 72 72 (847) n.m Profit/(loss) from discontinued operations 421 421 (123) (441%) Profit/(loss) for the period attr. to VIP shareholders 445 445 (1,005) (144%) Capital expenditures excl. licenses 382 378 448 (15%) LTM Capex excl. licenses/revenue 16.7% 16.8% 18.6% (1.9p.p.) Operating cash flow (EBITDA underlying less Capex) 580 564 569 2% Operating cash flow margin (operating cash flow / total revenue) 24.5% 24.6% 23.3% 1.1p.p. Net debt 6,804 6,470 5,437 25% Net debt /LTM EBITDA underlying 1.9 1.8 1.3 Total mobile customers (millions)4 205.5 Hinweis:
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