Seeking Alpha

VimpelCom swings to loss after massive Ukraine writedown

  • VimpelCom (VIP) swung to a Q4 net loss of $2.7B from a profit of $195M a year earlier and badly missed consensus for a profit of $437M.
  • Earnings were hurt by the Russian mobile carrier taking $2.9B in non-cash impairments, including just over $2B for its Ukraine operations.
  • Revenue -7% to $5.6B vs analyst expectations of $5.7B.
  • EBITDA -3% to to $2.4B, as expected. (PR)
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