- VimpelCom's (VIP) Q4 revenue came in slightly to the upside of expectations at $4.39B, but the firm was hit by currency headwinds in posting a net loss of $0.53/share and a net loss of $691M for the year.
- EBITDA off $1.6B was about 7% off of expectations and down organically 8%.
- "We expect the operating environment to remain difficult in 2015, however I am confident that we have the right strategy to deliver on our targets," says CEO Jo Lunder.
- Facing the effects on the ruble and Ukraine's hryvnia, the firm will switch to negotiating vendor contracts in dollars.
- For 2015, the company expects service revenue to be anywhere from flat to a low-single-digit organic decline, and EBITDA flat to -1%. EPS is expected to come in at $0.35-$0.40.
- VimpelCom had announced an agreement with MTS (MBT) to jointly plan, develop and operate 4G/LTE networks in Russia over the next few years.
- Press release