| Moscow and New York (September 1, 2006) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), a leading provider of wireless telecommunications services in Russia and Kazakhstan, with recently acquired operators in Ukraine, Uzbekistan, Tajikistan and Georgia, today announced its financial and operating results for the quarter and six months ended June 30, 2006. During the second quarter of 2006 the Company reported continued growth in new subscribers and improved financial results.
Attachments A, B and C present, respectively, 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 operates.
Financial and Operating Highlights
- Net operating revenues reached $1,121.5 million, a year-on-year increase of 45.7%.
- OIBDA reached $561.6 million, a year-on-year increase of 42.0%.
- OIBDA margin was 50.1%.
- Net income totaled $194.9 million, a year-on-year increase of 22.7%.
- Operating cash flow was $431.9 million, a year-on-year increase of 35.7%.
- Approximately 51.9 million subscribers as of September 1, 2006 including 4.4 million subscribers in the CIS outside of Russia
- Strong growth and improved subscriber market share in Kazakhstan.
- Solid growth in Ukraine after launch of the Beeline brand in April 2006.
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