Vimpelcom to release Q2 IFRS report August 7
MOSCOW. July 18 (Interfax) - The telecommunications holding Vimpelcom Ltd., whose main assets are the Russian 'big-three' telecoms operator OJSC VimpelCom and the Italian operator Wind Telecomunicazioni, will release its report to International Financial Reporting Standards (IFRS) for the second quarter on August 7.
The holding made $408 million in net profits during the first quarter, 28% more year-on-year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 3% to $2.35 billion, while the EBITDA margin edged up to 42% from 41.1%. Q1 sales revenues were pretty flat year-on-year at $5.6 billion. Net cash flow from operations amounted to $1.3 billion, down 21%. Net debt grew 4% over the quarter to $22.86 billion. The debt/EBITDA ratio was 2.3.
Typically, Vimpelcom Ltd.'s wholly owned OJSC Vimpelcom contributes around 40% of the holding's sales revenues. Its Q1 earnings amounted to 70.08 billion rubles, up 5%, EBITDA to 29.3 billion rubles, up 6%, and its EBITDA margin was 41.8%, up half a percentage point.
Wind Telecomunicazioni had a negative Q1 effect on the holding's financials. Wind's revenues contracted 9% to 1.23 billion rubles and EBITDA 5% to 461 million euros, though its EBITDA margin increased to 37.5% from 36.5% the year before.
