VimpelCom has reduced the number of showrooms in 2023 by 22% – Kommersant

In 2023, VimpelCom’s revenue increased by 5.9%, to 303.4 billion rubles, according to the company’s press release for the year. Adjusted net profit increased by 63% year-on-year to RUB 3.372 billion. EBITDA margin reached 42.5%, an increase of 1.2%. CAPEX amounted to RUB 63 billion, an increase of 4.7%. The intensity of capital investments (their ratio to the company’s total revenue) decreased by 0.2 percentage points and amounted to 20.8%. The company said that year-on-year the number of base stations increased by 10.1% and amounted to 204.3 thousand, and the total number of sites (sites) increased by 3.6%, to 55.4 thousand.

The growth of the company’s core telecommunications business is driven by the “implementation of a customer-centric strategy,” the company said in a press release. In addition, the number of company salons decreased by 22%, to 2,419 units. The company explained this by “continuing to optimize the network of its own sales and service offices.”

In October, Veon announced a deal to sell VimpelCom to the company’s top management. According to the company’s estimates, to implement the transaction, VimpelCom PJSC acquired over 96% of all bonds of the VEON group in Russia, including over 99.6% of all bonds of the VEON group accounted for in the National Settlement Depository.

Read about how Veon closed the deal to sell the company to management in the Kommersant article. “Vimpelcom was returned to its homeland”.

Alexey Zhabin