OREANDA-NEWSThe revenue of VimpelCom (Beeline brand, part of Veon Ltd.,) according to international financial reporting standards (IFRS) for the fourth quarter of 2019 decreased by 3.3% compared to the same period in 2018 and amounted to 73.4 billion rubles. This was said in a statement.

In particular, Vimpelcom's service revenue in the mobile segment in the fourth quarter of 2019 compared to the same period a year earlier, decreased by 5.9% to 55.3 billion rubles. In the fixed segment, operator service revenue in the fourth quarter grew by 3.7% to 9.1 billion rubles. The company's EBITDA in Russia for the quarter grew by 19.3% - up to 29.7 billion rubles. Capital expenditures minus licenses for this period more than doubled and reached 25.4 billion rubles.

At the end of 2019, VimpelCom’s consolidated revenue slightly decreased and amounted to 289.9 billion rubles, EBITDA grew by 21% to 126.7 billion rubles. Service revenue in the mobile segment over this period decreased by 2% to 225.6 billion rubles, in the fixed segment the decrease was 1.3% to 34.9 billion rubles.

VimpelCom (the Beeline brand) is a subsidiary of the telecommunications holding company Veon, headquartered in Amsterdam. The largest shareholder of Veon is Mikhail Friedman's LetterOne (47.9%), 8.3% of the holding is managed by Dutch shtikhting (form Dutch property law) 43.8% of the company's shares are in free float.