VimpelCom’s owner VEON revenue falls 0.4% to $2.3 bln in Apr–Jun

MOSCOW, Aug 1 (PRIME) -- Total revenue of Amsterdam-based VEON, the sole owner of Russian mobile operator VimpelCom, decreased 0.4% on the year to U.S. $2.261 billion in April–June, as calculated under International Financial Reporting Standards (IFRS), VEON reported on Thursday in a statement.

The company posted a net profit of $75 million against a net loss of $144 million in the same period a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew 16.1% to $994 million.

In 2019, VEON expects organic revenue rise of 1–3%, EBITDA of 1–6% and free cash flow at about $1 billion, in line with the 2018 figure.

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

https://www.veon.com/media/2356/veon-2q19-results.pdf

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