VimpelCom to maintain 2012 capex at last year's level at around 60 bln rubles
MOSCOW. March 13 (Interfax) - Vimpelcom Ltd forecasts capex for its Russian subsidiary, OJSC VimpelCom in 2012 at the same level as last year, Vimpelcom Ltd's general director, Jo Lunder, told journalists on Tuesday.
"In absolute terms, capex will remain the same as in 2011," Lunder said.
Russian company VimpelCom's capex for 2011 came to 59.8 billion rubles. The ratio to sales revenue came to 22%.
He said that capex to sales revenue ratio should decrease since Vimpelcom hopes to boost revenue in 2012. Lunder declined to provide specific figures for sales revenue this year.
Lunder said that Vimpelcom Group plans to reduce its capex to sales revenue ratio to 15%. This figure came to 21.4% excluding costs for acquiring licenses.
The group hopes to see Vimpelcom Ltd's EBTIDA increase in the single digits over 2012-2015, which, in conjunction with a decrease in capex, would help reduce the debt to EBITDA ratio from 2.6 to 2.