VEON: VimpelCom’s IFRS revenue rises 8% to 75 bln rbl in Jul–Sep

MOSCOW, Oct 28 (PRIME) -- Total revenue of Russian mobile operator VimpelCom, working as Beeline, increased by 8.2% on the year to 75.288 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), the company’s parent, Amsterdam-based VEON, said on Thursday in a statement.

Total mobile revenue rose by 8.6% to 65.063 billion rubles, and total fixed-line revenue increased by 5.8% to 10.225 billion rubles.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) edged up 1.9% to 28.222 billion rubles. The EBITDA margin went down by 2.3 percentage points to 37.5%.

Operational capital expenditures increased by 6.5% to 17.012 billion rubles.

The number of mobile subscribers rose by 1.7% to 50.6 million. “Beeline Russia’s total mobile customer based was up 0.5 million in the quarter. This growth was once again led by 4G customers, adding 1.2 million during the quarter, resulting in a 4G customer base of 24.5 million, a 16.9% rise compared with July–September 2020,” VEON said in the statement.

Sales of devices jumped by 38% on the year “making a 10.2 billion ruble revenue contribution during the quarter. The growing smartphone penetration is an important enabler to the 4G focused growth story for the business,” the company added.

(69.8104 rubles – U.S. $1)

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