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VIP.N

ISIN: US68370R1095
SEDOL: 2943675

Rating:

BUY

Target Price:

9.50 USD

Investment Horizon:

6 to 24 months
28th May 2009 View Report   Download

1Q 09 News Alert

Vimpel-Communications (Vimpelcom) reported its 1Q 09 results today. The company reported strong yo- y growth in revenues, EBITDA, operating profit and adjusted net income1. Furthermore, operations in Uzbekistan, Tajikistan and Armenia, along with new operations in Cambodia and Vietnam, offer significant growth potential, due to lower mobile penetration levels in these markets. Thus in light of these factors and strong performance in 1Q 09, although the current…

13th May 2009 View Report   Download

4Q 08 & FY 2008 News Alert

Vimpel-Communications (Vimpelcom) reported its 4Q 08 and FY 2008 results today. While top-line was below our estimate, profit margins were above our estimates in 4Q 08, highlighting an impressive cost performance. Moreover, revenue growth was significantly stronger in local currency terms. Going forward, we expect 3G network deployment to generate more demand for value added services, with a resulting expected increase in ARPU....

14th Apr 2009 View Report   Download

Company News Alert

The Vimpel-Communications (Vimpelcom) ADR achieved our target price on 09 April 2009, closing at US$9.86, representing broader market movements in the Russian economy coupled with positive investor sentiments over its merger plans with Kyivstar, which if approved will strengthen its foothold in Ukraine. Going forward, we expect top-line to be driven by impressive performance from Russian operations. While we believe the company has strong fundamentals, as the…

3rd Feb 2009 View Report   Download

Company News Alert

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Vimpel-Communications (Vimpelcom) ADR has depreciated significantly since our last update report, reflecting uncertainty in the Russian economy. However, going forward, we expect expansion in subscriber-base and increased Average Revenues Per User from Russia to drive top-line growth. Considering the existing crisis in the Russian economy…

19th Dec 2008 View Report   Download

3Q 08 Update Report

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In 3Q 08, Vimpel Communication (Vimpelcom) reported impressive growth in revenues, in line with our estimate, driven by robust expansion in subscriber-base across all regions, coupled with increased Average Revenue Per User (ARPU) from Russia and Ukraine. However, EBITDA margin declined and was below our estimate, due to increased service costs and Selling, General & Administrative expenses (SG&A;) in 3Q 08. Going forward, we expect the…