VEON: VimpelCom IFRS revenue falls 6.1% to 70.7 bln rbl in Jul–Sep

MOSCOW, Nov 3 (PRIME) -- Total revenue of Russian mobile operator VimpelCom, working under the Beeline brand, decreased 6.1% on the year to 70.696 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), the company’s owner, Amsterdam-based VEON said in a statement on Thursday.

The company said revenue was “impacted by a 58.5% decline in equipment revenue due to lower devices sales.”

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 7.3% to 30.290 billion rubles. The EBITDA margin climbed 5.4 percentage points to 42.8%.

Capital expenditures plunged 24.2% to 12.902 billion rubles.

The number of customers fell 9.1% to 46 million “as Beeline Russia continued to focus on improving the quality of the customer base and their engagement.”

(61.6175 rubles – U.S. $1)

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