VimpelCom Ltd, which unites Russia's VimpelCom and Ukraine's Kyivstar, posted a first quarter 2011 profit of $589.7 million to US GAAP, up 54.6 percent year-on-year, the company said on Wednesday.
Revenue rose 22.9 percent year-on-yearin the first three months of 2011 to $2.743 billion. Capital expenditures skyrocketed 154.5 percent to $456.4 million, the company said in a statement.
OIBDA increased to $1.2095 billion in January-March from $1.0412 billion year-on-year, while OIBDA margin fell to 44.1 percent from 46.7 percent.
"With the consolidation of the assets of Wind Telecom into our portfolio, the scale of our operations has nearly doubled, making VimpelCom a truly global telecom operator with one of the largest customer bases in the world. We are now focusing on the integration of our businesses, extracting synergies and capitalizing on the company's strengthened leadership, scale and market expertise in order to efficiently manage our substantially expanded operations," VimpelCom Ltd CEO Alexander Izosimov said.
MOSCOW, June 1 (RIA Novosti)
