OREANDA-NEWS. VimpelCom Ltd. (NASDAQ: VIP), the international communications and technology company, which is committed to bringing the digital world to each and every customer, today announces financial and operating results for the quarter ended March 31, 2016. These results and the prior year numbers reflect the reclassification of Italy as an asset held for sale pursuant to the announcement of the joint venture with 3 Italia in August 2015.

Revenue organic growth of 4% YoY, driven by strong growth in Emerging Markets and Eurasia

Underlying EBITDA organically increased 2% YoY. Reported EBITDA declined 19% YoY mainly due to currency headwinds and exceptional items of USD 40 million almost entirely related to performance transformation

Reported net income of USD 189 million of which USD 38 million from continued operations

Results on track and FY16 guidance confirmed

USD 1.2 billion bonds successfully issued on April 26, 2016 with 4 and 7 year maturities and 6.8% average coupon