VimpelCom Predicts Steady Sales Growth

Multinational mobile operator VimpelCom said that its revenues grew 5% year-on-year on an organic basis to 5.9 billion US dollars in the fourth quarter of 2011. The group was boosted by a 13% increase in mobile subscribers to 205 million.

Revenues were up 10% in Russia, one of its largest markets, thanks to a 10% rise in mobile subscribers. Revenues were also up 4% in the Ukraine, but fell 1% in Italy. VimpelCom is aiming to grow revenues in the "mid single digits" each year between 2012 and 2014, while lowering capex as a proportion of revenue down to 15% by 2014 (in 2011, that metric climbed to 21% from 18% in 2010). source: VimpelCom presentation