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vimpelcom ltd-pfd adr (VMPLY) Key Developments

VimpelCom Proposes Revised Charter

VimpelCom Ltd. announced at its extraordinary general shareholders meeting to be held on October 5, 2015, the shareholders proposed the revised Charter.

VimpelCom Ltd. Presents at Barclays Capital Select European Media and Telecom Forum, Sep-01-2015

VimpelCom Ltd. Presents at Barclays Capital Select European Media and Telecom Forum, Sep-01-2015 . Venue: London, United Kingdom.

VimpelCom Reportedly In Talks With Russian Towers

VimpelCom Ltd. (NasdaqGS:VIP) intends to sell towers. VimpelCom reportedly plans to sell wireless communications towers in Russia and the CIS, Bangladesh, and Pakistan. VimpelCom is holding talks with CJSC Russian Towers. The number of towers in Russia is estimated to be some 1500. The transaction may be closed by the end of 2015. Merrill Lynch reportedly acted as financial advisor. Russian Towers may set up a joint venture with VimpelCom, wherein VimpelCom will be controlling 25%. Russian Towers is working to raise funding up to RUB 50 billion to RUB 60 billion, on the transaction amount.

CK Hutchison and VimpelCom to Form Joint Venture of its Telecoms Businesses in Italy

CK Hutchison Holdings Ltd. and VimpelCom Ltd. have entered into an agreement to form a 50/50 joint venture that will own and operate their telecommunications businesses in Italy. By combining their businesses, 3 Italia and WIND will gain the scale and more efficient cost structure needed to enable them to continue to offer innovative, competitively-priced telecoms services and to compete even more aggressively in the Italian market place. The combination of the two networks, together with significant additional investment, will provide Italian mobile users with unmatched network quality and will accelerate the availability of high-speed mobile and fixed broadband services throughout Italy. Italian consumers and businesses can expect to benefit both from improved LTE network coverage, higher download speeds, higher network reliability and more advanced services.

VimpelCom Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Capex and Earnings Guidance for the Year 2015; Reports Impairment Charges for the Second Quarter Ended June 30, 2015

VimpelCom Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, total operating revenue was USD 3,759 million compared to USD 5,067 million a year ago. Operating profit was USD 646 million compared to USD 938 million a year ago. Profit before tax was USD 188 million compared to USD 479 million a year ago. Profit for the period was USD 146 million compared to USD 58 million a year ago. Net income attributable to company shareholders was USD 108 million compared to USD 100 million a year ago. Net cash from operating activities was USD 801 million compared to USD 1,102 million a year ago. Purchase of property, plant and equipment and intangible assets was USD 540 million compared to USD 759 million a year ago. Purchase of other intangible assets was USD 136 million compared to USD 92 million a year ago. EBITDA was USD 1,511 million compared to USD 2,076 million a year ago. EBIT was USD 646 million compared to USD 938 million a year ago. EBT was USD188 million compared to USD 479 million a year ago, as a result of lower EBIT, partially mitigated by significantly lower financial expenses due to refinancing in WIND Italy, recent debt repayment and the positive effect of the ruble and euro weakening against the US dollar. Net debt was USD 17,904 million. Capital expenditures was USD 804 million against USD 1,331 million for the same period a year ago mainly due to the depreciation of the RUB, EUR and UAH against the USD as well as organic Capex savings. For the six months, total operating revenue was USD 7,274 million compared to USD 10,091 million a year ago. Operating profit was USD 1,525 million compared to USD 1,863 million a year ago. Profit before tax was USD 631 million compared to USD 725 million a year ago. Profit for the period was USD 319 million compared to USD 131 million a year ago. Net income attributable to company was USD 292 million compared to USD 139 million a year ago due to the higher profit for the period partly offset by higher non-controlling interest as a result of an increase in OTA´s minority share, due to the sale of 51% in OTA in Algeria and lower losses in GTH. Net cash from operating activities was USD 37 million compared to USD 2,270 million a year ago. Purchase of property, plant and equipment and intangible assets was USD 1,040 million compared to USD 1,782 million a year ago. Purchase of other intangible assets was USD 249 million compared to USD 228 million a year ago. EBITDA was USD 2,907 million compared to USD 4,164 million a year ago. EBIT was USD 1,525 million compared to USD 1,863 million a year ago. EBT was USD 631 million compared to USD 725 million a year ago. Capital expenditures was USD 1,264 million against USD 2,066 million for the same period a year ago. The capex/revenue target for 2015 has been improved to 18% to 20% solel y as a result of efficiencies from ongoing cost saving initiatives and the reduced spend has no impact on it's high-speed data network rollout plans for 2015 and customer experience. As the company delivers against these over the next three years, it expects a sustainable increase in cash flow of USD 750 million per annum. The EBITDA margin was expected to remain at the 2014 level. Eps is expected to be between USD 0.35 and USD 0.40. For the quarter, the company reported impairment loss of USD 13 million against USD 2 million for the same period a year ago.

 

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VMPLY

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Valuation VMPLY Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.5x
Price/Book 1.4x
Price/Cash Flow 2.4x
TEV/Sales NM Not Meaningful
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