Russia's second largest mobile phone operator said its net operating revenue grew 46% in the reporting period to $936.2 million and its operating income before depreciation and amortization (OIBDA) was $482.6 million, a year-on-year increase of 58%. The OIBDA margin was 51.6% and the company's operating cash flow grew 69% to $362.9 million.
"Our business continued its successful development in the first quarter of 2006," said Alexander Izosimov, the chief executive officer of VimpelCom, which operates under the popular trade mark of Beeline in Russia. "This was the 26th consecutive quarter of revenue growth. In the first quarter of 2006, we achieved the highest quarterly OIBDA and OIBDA margin in our history. These results came on the back of strong performance both in Russia and Kazakhstan."
