MOSCOW, May 15 (RIA Novosti) – Telecom provider VimpelCom Ltd., which comprises one of Russia's top three mobile operators VimpelCom, posted a US GAAP net profit of $408 million in January-March 2013, up 28 percent from the same period last year, the company said on Wednesday.
The net financial result for VimpelCom, which operates under the Beeline trademark in Russia, was above a consensus forecast of analysts polled by Prime news agency of $399.6 million.
The company’s revenues in the reporting period fell to $5.591 billion from $5.619 billion in the first quarter of 2012, while the company’s EBITDA grew by 2 percent to $2.348 billion, with the EBITDA margin up to 42 percent from 41.1 percent a year earlier.
“VimpelCom has again delivered a good performance in the first quarter of 2013. The group’s EBITDA margin increased 0.9 percentage points year-on-year. These results demonstrate further progress on our Value Agenda and we remain on track to achieve our longer term objectives,” VimpelCom CEO Jo Lunder said.
VimpelCom's total mobile subscriber base grew 4 percent year-on-year in the first quarter of 2013 to 215 million.
