VimpelComs owner VEON revenue dips 1.4% to $2.32 bln in OctDec - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

VimpelComs owner VEON revenue dips 1.4% to $2.32 bln in OctDec

MOSCOW, Feb 22 (PRIME) -- Total revenue of Amsterdam-based VEON, the sole owner of Russian mobile operator VimpelCom, decreased 1.4% on the year to U.S. $2.32 billion in OctoberDecember 2017, mainly due to a significant devaluation of the Uzbek som, the company said on Thursday in a statement.

Organic revenue grew 1.2%, driven by Russia, Pakistan, Ukraine and Uzbekistan, partially offset by continued pressure in Algeria and Bangladesh.

Mobile and fixed services revenue shrank 1.3% to $2.214 billion, of which mobile data revenue increased 14.8% to $473 million.

Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased 3.8% to $753 million, mainly due to the significant devaluation of the Uzbek som, partially offset by lower exceptional costs.

For the whole of 2017, total revenue increased 6.6% to $9.474 billion. Mobile and fixed service revenue rose 6.5% to $9.105 billion, of which mobile data revenue jumped 30.2% to $1.856 billion.

EBITDA increased 11% to $3.587 billion.

The total mobile customer base, excluding Italy, expanded 1.4% on the year to 211 million as of the end of 2017. Total fixed-line broadband customers rose 2.3% to 3.1 million.

Looking back on 2017, I am pleased to report another good year. Our total revenue grew by over 6% and EBITDA by 11%, supported by organic growth and the strengthening of the currencies in our portfolio. On the back of this solid performance, our underlying equity free cash flow increased significantly to over $1 billion. This is a clear testament that the strategy we launched in August 2015 is transforming our business, CEO Jean-Yves Charlier said.

Looking ahead to 2018, our financial performance will be impacted by Uzbekistans currency liberalization and a number of strategic transactions including the Pakistan tower transaction closing and the integration of the Euroset business in Russia. As such, we expect flat-to-low single digit organic growth for both group revenue and EBITDA. In addition, we forecast a strengthening of equity free cash flow, which we expect to be approximately $1 billion compared to $804 million in 2017 under the new definition for 2018 targets.


22.02.2018 11:35
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 77.6844 -0.3909 25 sep
USD 66.1594 -0.0903 25 sep
Stock Market Indices
1D 1W 1M 1Y
rtsi 1162.98 +1.17 18:50 24 sep
micex 2430.01 +0.13 18:50 24 sep
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 159.00 +0.23 18:49 24 sep
lkoh 4780.00 +0.90 18:48 24 sep
rosn 447.05 +1.51 18:48 24 sep
sber 198.75 +2.75 18:49 24 sep
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 77.5600 -0.8850 14:59 24 sep
USDTD 65.7650 -0.7025 17:44 24 sep