Revenue of Vimpelcom in the third quarter fell by almost a third

Moscow. On 6 November. Revenue of telecommunications company Vimpelcom Ltd. in the third quarter of 2015 decreased by 31% to $2,44 billion , said in a statement.

Organic revenue growth was 2%.

Adjusted EBITDA dropped by 33%, to $1.02 billion Thus, EBITDA margin decreased to 41.7% from 42.8%.

Vimpelcom’s net loss was $847 million due to the reserve of $900 million in connection with the investigation of corruption in Uzbekistan.

The results Vimpelcom was better than forecasts of analysts, who expected a decrease by 32.5% and EBITDA was 34.6%. The OIBDA margin was projected at 41.6 per cent.