UPDATE: VEON says swings to $278 mln IFRS net loss in April-June

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MOSCOW, Aug 3 (PRIME) -- Amsterdam-based VEON, the sole owner of Russian mobile operator VimpelCom, posted a U.S. $278 million net loss in April-June against a $137 million profit in the same period of 2016, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Thursday.

Revenue rose 12.3% on the year to 2.417 billion rubles. Earnings before interest, tax, depreciation and amortization (EBITDA) grew 17.1% to $931 billion.

Revenue from operations in Russia went up 18.7% on the year to $1.197 billion with organic sales rising 3%. The client base of mobile operator Beeline grew 1.4% to 58.3 million people.

“I am glad to announce a further double-digit growth in revenue and EBITDA in the second quarter. We have demonstrated a rise in revenue on our major markets of Russia, Pakistan and Ukraine, where there is stable demand for our mobile data transfer services,” the statement read citing CEO Jean-Yves Charlier.

For further details, see the company’s statement on its official Web site:

http://veon.com/media-center/Press-releases/2017/VEON-announces-Q2-2017-results/

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