OREANDA-NEWS. Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), a leading provider of wireless telecommunications services in Russia and the Commonwealth of Independent States (CIS) announced its financial and operating results for year ended December 31, 2006.

The net operating revenues reached $4,868.0 million, an increase of 51.6% as compared with 2005. OIBDA reached $2,451.8 million, OIBDA margin was 50.4%, an all-time record for the Company.

Net income totalled $811.5 million, an increase of 31.9% as compared with 2005.
 
Capital expenditures (excluding acquisitions) totaled $1,512.1 million.

Operating cash flow was $1,971.3 million, leading to the first ever positive free cash flow of $459.2 million.
 
Subscriber base grew to approximately 55.1 million as of December 31, 2006, including 7.0 million in the CIS countries outside of Russia.