| Moscow and New York (November 30, 2006) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), a leading provider of wireless telecommunications services in Russia and the Commonwealth of Independent States (CIS) today announced its financial and operating results for the quarter and nine months ended September 30, 2006.
Attachments A, B and C present definitions for certain terms used in this press release, the condensed consolidated financial statements of VimpelCom and tables with relevant reconciliations of non-U.S. GAAP financial measures to their most directly comparable U.S. GAAP financial measures. Selected financial and operating results are also reported for each of the countries where VimpelCom was operating as of September 30, 2006.
Financial and Operating Highlights
- Net operating revenues reached $1,358.9 million in the third quarter, a year-on-year increase of 52.6%.
- OIBDA reached $717.8 million, a year-on-year increase of 59.5%.
- OIBDA margin was 52.8%, an all-time record for the Company.
- Net income totaled $268.4 million, a year-on-year increase of 37.7%.
- Operating cash flow was $640.0 million, a year-on-year increase of 62.4%.
- Continued strong growth and improved subscriber market share in Kazakhstan.
- Acquisition of telecom operators in Georgia (July 2006) and Armenia (November 2006).
- Approximately 53.3 million subscribers as of November 30, 2006 including 5.9 million subscribers in the CIS outside of Russia.
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VIMPELCOM ANNOUNCES THIRD QUARTER AND NINE MONTH 2006
FINANCIAL AND OPERATING RESULTS
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