VimpelCom swings to loss after massive Ukraine writedown

|By:, SA News Editor

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)