VEON Ltd. · NASDAQ:VEON
VEON — VimpelCom — Q2 2012 Earnings Presentation
75 slides from VEON's earnings presentation, Aug 15, 2012
Slide 1: Form 6-K Report of Foreign Private Issuer
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of August 2012 Commission File Number 1-34694 VimpelCom Ltd. (Translation of r
Slide 2: Signatures
Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. VIMPELCOM LTD. (Registrant) Date: August 15, 2012 By: /s/ Jeffrey David Mc Ghie Name:
Slide 3: VimpelCom Delivers Solid Profitable Organic Growth in 2Q12
Table of Contents VIMPELCOM DELIVERS SOLID PROFITABLE ORGANIC GROWTH IN 2Q12 KEY RESULTS AND DEVELOPMENTS IN 2Q12* — Revenues of USD 5.7 billion, with organic1 growth of 4% YoY — EBITDA of USD 2.5 billion, up 8% organically YoY; double digit growth in Russia, Africa & Asia and CIS — Results negative
Slide 4: Presentation of Financial Results
Table of Contents CONSOLIDATED FINANCIAL AND OPERATING HIGHLIGHTS USD mln Pro forma Actual 1H12 1H11 YoY 1H12 1H11 YoY Total operating revenues 11,364 11,492 -1% 11,364 8,276 37% EBITDA 4,792 4,726 1% 4,792 3,456 39% EBITDA margin 42.2% 41.1% 42.2% 41.8% EBIT 2,207 1,885 17% 2,207 1,564 41% Net inco
Slide 5: Strategic Update and Main Events
Table of Contents STRATEGIC UPDATE AND MAIN EVENTS — LTE license in Russia awarded — Global initiatives launched to improve customer experience — Global cooperation with leading telecom operations for fast growing M2M business — Postponed dividend payment decision and announced that AGM will be held
Slide 6: VimpelCom Group – Financial and Operating Results 2Q12
Table of Contents VIMPELCOM GROUP – FINANCIAL AND OPERATING RESULTS 2Q12 — Revenues of USD 5.7 billion with organic growth of 4% YoY — EBITDA of USD 2.5 billion, up 8% organically YoY; double digit organic growth in Russia, Africa & Asia, CIS — Total mobile subscriber base increased 8% YoY to 208 mi
Slide 7: Financial Performance Overview
Table of Contents FINANCIAL PERFORMANCE OVERVIEW PRO FORMA 2Q12 Net income grew by 83% YoY as a result of the increase in Profit before tax and lower effective tax rate, due to certain net operating losses incurred in 2Q11, but Total operating revenues in the second quarter 2012 decreased by 4% YoY
Slide 8: Statement of Financial Position & Cash Flow (Actual)
Table of Contents STATEMENT OF FINANCIAL POSITION & CASH FLOW (ACTUAL) USD mln 2Q12 1Q12 QoQ Total assets 52,543 56,121 -6% Shareholders’ equity 13,942 14,343 -3% Gross debt 26,559 28,591 -7% Net debt 23,067 24,339 -5% 2Q12 2Q11 YoY Net cash from operating activities 1,351 1,317 3% Net cash used (in
Slide 9: Business Units Performance in 2Q12
Table of Contents BUSINESS UNITS PERFORMANCE IN 2Q12 — Russia — Europe & North America — Africa & Asia — Ukraine — CIS VimpelCom Ltd. 2Q 2012 7
Slide 10: Business Unit Russia – Financial and Operating Results
Table of Contents BUSINESS UNIT RUSSIA – FINANCIAL AND OPERATING RESULTS — Positive operational development continued in 2Q12 — Solid revenue increase of 8% YoY; strong growth in data — EBITDA increase of 12% YoY and EBITDA margin growth of 1.6 p.p. to 43.1%, the highest margin in 5 quarters — Opera
Slide 11: Russia Key Indicators
Table of Contents RUSSIA KEY INDICATORS RUB mln 2Q12 2Q11 YoY Total operating revenues 70,258 65,179 8% Total operating expenditures 39,992 38,103 5% EBITDA 30,266 27,076 12% EBITDA margin 43.1% 41.5% Capex 9,195 11,348 -19% Capex / Revenues 13% 17% Mobile Mobile total operating revenues 57,925 54,3
Slide 12: Business Unit Europe & NA – Italy Results
Table of Contents BUSINESS UNIT EUROPE & NA – FINANCIAL AND OPERATING RESULTS ITALY — Continuing relative outperformance of market — Revenues down 1% YoY but revenues excl. MTR impact grew 2% — Strong data revenue performance: Mobile Internet revenue accelerating over 1Q12 to 50% YoY, messaging reve
Slide 13: Italy Key Indicators; Canada
Table of Contents ITALY KEY INDICATORS* Euro mln 2Q12 2Q11 YoY Total operating revenues 1,383 1,399 -1% Total operating expenditures 859 873 -2% EBITDA 524 526 0% EBITDA margin 37.9% 37.6% Capex 243 234 4% Capex / revenues 18% 17% Mobile Total revenues 1,015 1,029 -1% Subscribers (‘000) 21,225 20,55
Slide 14: Business Unit Africa & Asia – Financial and Operating Results
Table of Contents BUSINESS UNIT AFRICA & ASIA – FINANCIAL AND OPERATING RESULTS — Revenues of USD 953 million with organic growth of 8% YoY — EBITDA of USD 466 million with organic growth of 13% YoY — EBITDA margin up 6.0 p.p. YoY to 48.9%, mainly resulting from cost savings — Subscriber base increa
Slide 15: Africa & Asia Key Indicators and Country Detail
Table of Contents AFRICA & ASIA* KEY INDICATORS USD mln 2Q12 2Q11 YoY Total operating revenues 953 949 0% Total operating expenditures 487 542 -10% EBITDA 466 407 14% EBITDA margin 48.9% 42.9% Capex 86 102 -16% Capex / revenues 9% 11% Mobile Subscribers (‘000) 84,432 73,370 15% * Africa & Asia opera
Slide 16: Business Unit Ukraine – Financial and Operating Results
Table of Contents BUSINESS UNIT UKRAINE – FINANCIAL AND OPERATING RESULTS — Revenues declined 1% YoY to UAH 3.2 billion, materially impacted by transition to bundled tariff plans — Growth in fixed-line revenue continued with 10% YoY growth; mobile revenue declined 2% YoY — EBITDA declined by 10% YoY
Slide 17: Ukraine Key Indicators
Table of Contents UKRAINE KEY INDICATORS UAH mln 2Q12 2Q11 YoY Total operating revenues 3,247 3,287 -1% Total operating expenditures 1,616 1,485 9% EBITDA 1,630 1,802 -10% EBITDA margin 50.2% 54.8% Capex 462 463 0% Capex / revenues 14% 14% Mobile Mobile total operating revenues 2,977 3,042 -2% Mobil
Slide 18: Business Unit CIS – Financial and Operating Results
Table of Contents BUSINESS UNIT CIS – FINANCIAL AND OPERATING RESULTS — Revenue reached USD 411 million with organic growth of 10% YoY — Mobile data revenue growth of 57% YoY to USD 28 million — EBITDA of USD 182 million with organic growth of 11% YoY; EBITDA margin of 44.3% — Mobile subscribers up
Slide 19: CIS Business Unit: Country Detail
Table of Contents KYRGYZSTAN Kyrgyzstan continued to show positive dynamics in revenue and EBITDA growth. 154% supported by an increase in mobile broadband subscribers of 33% and an Organic revenue grew 18%, supported by strong subscriber base growth of 13%, increase in average revenue per data user
Slide 20: Conference Call Information; Contact Information
Table of Contents CONFERENCE CALL INFORMATION On August 15, 2012, the Company will host an analyst & investor conference call on its second quarter 2012 results. The call and slide presentation may be accessed at http://www.vimpelcom.com 2:00 pm CET investor and analyst conference call US call-in nu
Slide 21: Disclaimer
Table of Contents DISCLAIMER This press release contains “forward-looking statements”, as the phrase is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to the Company’s financial performance objectives, development
Slide 22: Content of the Attachment Tables
Table of Contents CONTENT OF THE ATTACHMENT TABLES Attachment A VimpelCom Ltd Interim Financial Statements 21 Attachment B Country units key indicators CIS and Africa & Asia 24 Attachment C Reconciliation Tables 27 Average Rates of Functional Currencies to USD Attachment D WIND Telecomunicazioni gro
Slide 23: Attachment A: Interim Statements of Income
Table of Contents ATTACHMENT A: VIMPELCOM LTD INTERIM FINANCIAL STATEMENTS VIMPELCOM LTD UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF INCOME (ACTUAL) (In millions of USD, except per share amounts) 2Q12 2Q11 1H12 1H11 Service revenues 5,534 5,401 10,970 8,073 Sale of equipment and accessories 143 134
Slide 24: Attachment A: Statement of Financial Position
Table of Contents ATTACHMENT A: VIMPELCOM LTD INTERIM FINANCIAL STATEMENTS VIMPELCOM LTD UNAUDITED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION (ACTUAL) (In millions of USD) 30 June 31 December 2012, 2011, unaudited audited Assets Non-current assets Property and equipment 14,699 15,165 Intan
Slide 25: Attachment A: Statements of Cash Flows
Table of Contents ATTACHMENT A: VIMPELCOM LTD INTERIM FINANCIAL STATEMENTS VIMPELCOM LTD UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (ACTUAL) (In millions of USD) 2Q12 1H12 1H11 Operating activities Profit after tax 482 836 777 Tax expense 247 486 295 Profit/(loss) from discontinued oper
Slide 26: Attachment B: Country Units Key Indicators
Table of Contents ATTACHMENT B: COUNTRY UNITS KEY INDICATORS AFRICA & ASIA BUSINESS UNIT: COUNTRY DETAIL ALGERIA DZD bln 2Q12 2Q11 YoY Total operating revenues 35.8 34.4 4% EBITDA 21.6 20.4 6% EBITDA margin 60.3% 59.2% Capex (USD) 10 10 2% Capex / revenues (USD) 29% 29% Mobile Subscribers (‘000) 17,
Slide 27: CIS Business Unit: Country Detail
Table of Contents CIS BUSINESS UNIT: COUNTRY DETAIL KAZAKHSTAN KZT mln 2Q12 2Q11 YoY Total operating revenues 30,746 29,529 4% EBITDA 14,456 14,414 0% EBITDA margin 47.0% 48.8% Capex (USD) 45 68 -34% Capex / revenues (USD) 22% 34% Mobile Subscribers (‘000) 8,497 7,831 9% ARPU (KZT) 1,137 1,249 -9% M
Slide 28: Georgia; Kyrgyzstan
Table of Contents GEORGIA GEL mln 2Q12 2Q11 YoY Total operating revenues 30 25 19% EBITDA 8 6 47% EBITDA margin 27.1% 22.1% Capex (USD) 4 9 -56% Capex / revenues (USD) 24% 56% Mobile Subscribers (‘000) 899 712 26% ARPU (GEL) 11 11 0% MOU 234 224 4% KYRGYZSTAN KGS mln 2Q12 2Q11 YoY Total operating re
Slide 29: Attachment C: EBITDA Reconciliation (Pro Forma)
Table of Contents ATTACHMENT C: RECONCILIATION TABLES RECONCILIATION OF CONSOLIDATED EBITDA OF VIMPELCOM* (PRO FORMA) USD mln 2Q12 2Q11 1H12 1H11 Unaudited pro forma EBITDA 2,481 2,441 4,792 4,726 Depreciation (720) (778) (1,447) (1,508) Amortization (522) (667) (1,054) (1,332) Impairment (loss)/gai
Slide 30: Attachment C: EBITDA Reconciliation (Actual)
Table of Contents ATTACHMENT C: RECONCILIATION TABLES RECONCILIATION OF CONSOLIDATED EBITDA OF VIMPELCOM* (ACTUAL) USD mln 2Q12 2Q11 1H12 1H11 Unaudited EBITDA 2,481 2,253 4,792 3,456 Depreciation (720) (717) (1,447) (1,140) Amortization (522) (585) (1,054) (728) Impairment (loss)/gain (6) - - - Los
Slide 31: Attachment C: Net Debt Reconciliation; Average Currency Rates
Table of Contents ATTACHMENT C: RECONCILIATION TABLES RECONCILIATION OF VIMPELCOM CONSOLIDATED NET DEBT (ACTUAL) USD mln 2Q12 1Q12 Net debt 23,067 24,339 Cash and cash equivalents 2,883 4,033 Long - term and short-term deposits 609 219 Gross debt 26,559 28,591 Interest accrued related to financial l
Slide 32: Attachment E: Definitions
Table of Contents ATTACHMENT E: DEFINITIONS EBITDA and EBITDA Margin are non-GAAP financial measures. VimpelCom calculates EBITDA as profit for the period before depreciation, amortization, impairment loss, finance costs, income tax expense and the other line items reflected in the reconciliation ta
Slide 33: Definitions (continued)
Table of Contents Broadband subscribers are the customer contracts that served as a basis for revenue generating activity in the three months prior to the measurement date, as a result of activities including monthly internet access using FTTB and xDSL technologies as well as mobile internet access
Slide 34: 2Q 2012 Presentation
Table of Contents 2Q 2012 Presentation th Amsterdam, August 15 , 2012 Jo Lunder - CEO Henk van Dalen - CFO 1
Slide 35: Disclaimer
Table of Contents Disclaimer This press release contains “forward-looking statements”, as the phrase is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to the Company's financial performance objectives, development
Slide 36: Key results 2Q12
Table of Contents Key results 2Q12 Revenues * EBITDA * EBITDA margin * Total mobile subscriber (USD billion) (USD billion) (%) Base * (million) 5.7 2.5 43.2 208 (+4% organic) (+8% organic) (+2.6 p.p.) (+8%) Net income * Net cash from operating Highlights (USD million) activities (USD billion) Double
Slide 37: Business Units Performance
Table of Contents Business Units Performance 4
Slide 38: Russia Performance 2Q12
Table of Contents Russia Performance 2Q12 Revenues EBITDA and EBITDA Margin CAPEX * (RUB billion) (RUB billion) (RUB billion) +8% YoY +12% YoY 59.8 54.3 69.6 71.0 67.0 70.3 30.3 22% 21% 65.2 27.1 27.9 26.4 27.7 10.8 11.5 12.0 11.4 12.3 11% 41.5% 40.0% 37.1% 41.3% 43.1% 15.3 54.4 58.1 59.0 55.6 57.9
Slide 39: Italy Performance 2Q12
Table of Contents Italy Performance 2Q12 Revenues EBITDA and EBITDA Margin CAPEX * (EUR million) (EUR million) (EUR billion) Total revenues -1% YoY Stable YoY Revenue excluding MTR cut +2% YoY 1.0 1.1 526 565 533 1,399 1,397 1,424 1,346 1,383 487 524 19% 18% 16% 370 371 387 363 368 172 127 131 132 1
Slide 40: Africa & Asia Performance 2Q12
Table of Contents Africa & Asia * Performance 2Q12 Revenues EBITDA and EBITDA Margin CAPEX ** (USD million) (USD million) (USD million) Stable YoY +14% YoY 720 697 Organic +8% YoY Organic +13% YoY 466 19% 19% 407 434 424 949 957 922 927 953 321 8% 42.9% 45.4% 45.7% 48.9% 34.8% 155 2Q 11 3Q 11 4Q 11
Slide 41: Ukraine Performance 2Q12
Table of Contents Ukraine Performance 2Q12 Revenues EBITDA and EBITDA Margin CAPEX * (UAH billion) (UAH billion) (UAH billion) -1% YoY -10% YoY 3.3 1.8 1.9 2.3 3.5 3.4 3.0 3.2 1.7 1.6 1.6 2.3 0.3 0.3 0.3 0.3 17% 17% 0.2 13% 54.8% 53.7% 50.3% 51.1% 50.2% 0.8 3.0 3.2 3.1 2.8 3.0 2Q 11 3Q 11 4Q 11 1Q 1
Slide 42: CIS Performance 2Q12
Table of Contents CIS * Performance 2Q12 Revenues EBITDA and EBITDA Margin CAPEX ** (USD million) (USD million) (USD million) +6% YoY +4% YoY Organic +10% YoY Organic +11% YoY 626 198 587 430 419 182 389 378 411 175 171 39% 161 36% 44 39 39 41 36 21% 45.0% 46.0% 40.8% 42.5% 348 386 380 342 372 44.3%
Slide 43: Financial Highlights
Table of Contents Financial Highlights Henk van Dalen CFO 10
Slide 44: 2Q12 Pro Forma Financial Performance
Table of Contents 2Q12 Pro Forma Financial Performance GROUP BUSINESS UNITS (USD million) 2Q12 2Q11 YoY Revenue EBITDA Revenues 5,745 6,011 -4% FX and FX and Reported Organic Reported EBITDA 2,481 2,441 2% Organic others others Depreciation/ Russia 8% -11% -3% 12% -11% 1% Amortization/ -1,289 -1,459
Slide 45: 2Q12 Actual Financial Highlights
Table of Contents 2Q12 Actual Financial Highlights Consolidated financial highlights (Actual) (USD million) Actual 2Q12 2Q11 YoY Total operating revenues 5,745 5,536 4% EBITDA 2,481 2,253 10% EBITDA margin 43.2% 40.7% EBIT 1,192 937 27% Financial income and expenses (476) (425) 12% FX and Other 13 (
Slide 46: Debt, Cash and Ratios
Table of Contents Debt, Cash and Ratios Key Components Consolidated Cash and Net Debt Development Actual 2Q 2012 (USD million) June 30, 2012 (USD million) Cash, Cash Equivalents and 28,591 (4,252) 3,492 9 3,492 26,559 deposits 24,339 (1,046) 639 215 488 909 (2,486) 23,067 Total Assets 52,543 Gross D
Slide 47: Debt Composition and Maturity Profile
Table of Contents Debt Composition and Maturity Profile Group Debt Maturity Schedule per June 2012 8.9 Wind OTH 5.4 Vimpelcom / OJSC 3.0 2.3 2.0 1.5 1.5 1.0 1.0 Other information Debt Composition by Currency Actual During 2Q 12 • Wind issued a tap of Senior Secured Notes due 2018 for USD 0.7 billion
Slide 48: Simplified legal / financing structure per 30-Jun-12
Table of Contents Simplified legal / financing structure per 30-Jun-12 VimpelCom Group VimpelCom Ltd. VIP USD 2.2 bn OJSC Group USD 9.4 bn VimpelCom Wind Group USD 13.9 bn Amsterdam B.V. OTH Group USD 1.1 bn Gross debt USD 26.6 bn VimpelCom VimpelCom Amsterdam WIND Telecom Holdings B.V. Finance B.V.
Slide 49: Conclusion
Table of Contents Conclusion Jo Lunder CEO 16
Slide 50: Conclusion
Table of Contents Conclusion Good start Value Agenda 2012-2014 – organic growth YoY in 2012: 1Q12 2Q12 Revenues +6% +4% EBITDA +5% +8% EBITDA margin -0.6 pp +2.6 pp Strong operational performance across most of our operations in 2Q12 Facing short term challenges in some of our markets On track to de
Slide 51: Q&A
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Slide 52: Thank you!
Table of Contents Thank you! 19
Slide 53: For further information please contact Investor Relations
Table of Contents For further information please contact Investor Relations Claude Debussylaan 88 1082 MD Amsterdam The Netherlands T: +31 20 797 7200 E: Investor_Relations@vimpelcom.com www.vimpelcom.com 20
Slide 54: Appendices
Table of Contents Appendices 21
Slide 55: BU Russia: Operating Highlights
Table of Contents BU Russia: Operating Highlights Mobile subscribers ARPU and MOU (million) (RUB) (min) +1% YoY +3% YoY ARPU +14% YoY MOU 57.2 327 334 327 314 336 56.8 279 251 259 254 55.6 55.7 244 55.3 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 ARPU MOU Broadband subscribers Broadb
Slide 56: BU Europe & NA: Operating Highlights Italy
Table of Contents BU Europe & NA: Operating Highlights Italy Mobile subscribers ARPU and MOU (million) (EUR) (min) +3% YoY ARPU -6% YoY MOU +5% YoY ARPU MOU Broadband subscribers* Broadband ARPU (thousands) (EUR) +7% YoY Fixed -4% YoY +10% YoY Mobile Fixed broadband subs Mobile broadband subs Fixed
Slide 57: FOREX Development
Table of Contents FOREX Development Average rates Closing rates Currency YTD 12 YTD 11 YoY YTD 12 FY 11 Delta RUB 30.64 28.62 -6.6% 32.82 32.20 -1.9% EUR 0.77 0.71 -7.4% 0.79 0.77 -2.5% DZD 75.56 72.47 -4.1% 79.03 75.33 -4.7% PKR 91.37 85.40 -6.5% 94.58 89.95 -4.9% BDT 82.30 72.37 -12.1% 81.82 81.83
Slide 58: Reconciliation of Consolidated EBITDA
Table of Contents Reconciliation Tables Reconciliation of consolidated EBITDA of VimpelCom Pro forma Actual USD million 2Q12 2Q11 2Q12 2Q11 Unaudited pro forma EBITDA 2,481 2,441 2,481 2,253 Depreciation (720) (778) (720) (717) Amortization (522) (667) (522) (585) Impairment (loss) / gain (6) - (6)
Slide 59: Reconciliation of Consolidated Net Debt
Table of Contents Reconciliation Tables Reconciliation of consolidated net debt of VimpelCom 2Q 12 1Q 12 USD millions Net debt 23,067 24,339 Cash and cash equivalents 2,883 4,033 Long - term and short-term deposits 609 219 Gross debt 26,559 28,591 Interest accrued related to financial liabilities 55
Slide 60: VimpelCom Ltd. Index sheet
Table of Contents VimpelCom Ltd. Index sheet Consolidated VIP Ltd. Consolidated BU Russia Russia BU Europe and North America Italy BU Africa and Asia Algeria Pakistan Bangladesh Sub Saharan Africa SEA BU Ukraine Ukraine BU CIS Kazakhstan Uzbekistan Armenia Tajikistan Georgia Kyrgyzstan
Slide 61: VimpelCom Ltd. Consolidated Index Page
Table of Contents VimpelCom Ltd. index page (in USD millions, unless stated otherwise, unaudited) Consolidated Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 ACTUAL Total operating revenues 2,740 5,537 6,096 5,889 5,619 5,745 Gross margin 2,034 4,011 4,397 4,195 4,258 4,408 Gross margin, % 74.2% 72
Slide 62: Russia
Table of Contents Russia index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 2,064 2,329 2,397 2,274 2,225 2,267 Gross margin 1,458 1,630 1,654 1,526 1,556 1,577 Gross margin, % 70.6% 70.0% 69.0% 67.1%
Slide 63: Italy
Table of Contents Italy index page (in EUR millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total revenues 1,351 1,399 1,397 1,424 1,346 1,383 of which TLC Service Revenues 1,289 1,347 1,325 1,315 1,281 1,299 EBITDA 496 526 565 533 487 524 EB
Slide 64: Algeria
Table of Contents Algeria index page (in USD millions, unless stated otherwise, unaudited) MOBILE Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 439 478 487 457 457 471 EBITDA 261 283 288 272 274 284 EBITDA margin 59.4% 59.2% 59.1% 59.5% 60.0% 60.3% Capital expenditures 4 1
Slide 65: Pakistan
Table of Contents Pakistan index page (in USD millions, unless stated otherwise, unaudited) MOBILE Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 275 292 281 286 286 295 EBITDA 111 118 116 119 121 130 EBITDA margin 40.3% 40.4% 41.3% 41.5% 42.3% 44.1% Capital expenditures 45
Slide 66: Bangladesh
Table of Contents Bangladesh index page (in USD millions, unless stated otherwise, unaudited) MOBILE Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 126 128 129 129 130 142 EBITDA 45 55 43 26 44 54 EBITDA margin 35.7% 42.7% 33.3% 20.3% 33.8% 38.0% Capital expenditures 13 14
Slide 67: Ukraine
Table of Contents Ukraine index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 375 412 437 417 385 406 Gross margin 312 345 357 337 316 328 Gross margin, % 83.2% 83.7% 81.6% 80.9% 82.1% 80.8% Adjusted O
Slide 68: Kazakhstan
Table of Contents Kazakhstan index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 183 203 223 213 191 208 Gross margin 139 150 159 148 135 150 Gross margin, % 75.7% 73.9% 71.1% 69.4% 70.8% 72.0% Adjuste
Slide 69: Uzbekistan
Table of Contents Uzbekistan index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 59 66 73 80 79 89 Gross margin 45 49 55 60 62 73 Gross margin, % 76.1% 74.2% 75.2% 75.1% 78.7% 82.0% Adjusted OIBDA 27 n
Slide 70: Armenia
Table of Contents Armenia index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 46 47 51 46 39 40 Gross margin 29 31 34 32 28 28 Gross margin, % 63.1% 67.0% 67.0% 69.9% 72.2% 70.0% Adjusted OIBDA 16 n.a.
Slide 71: Tajikistan
Table of Contents Tajikistan index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 21 26 29 25 21 26 Gross margin 15 20 22 19 16 21 Gross margin, % 71.2% 75.0% 75.0% 74.2% 74.5% 80.8% Adjusted OIBDA 9 n.
Slide 72: Georgia
Table of Contents Georgia index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 12 15 18 18 16 18 Gross margin 8 10 12 12 11 13 Gross margin, % 66.7% 64.2% 68.5% 65.5% 68.3% 72.2% Adjusted OIBDA 2 n.a. n
Slide 73: Kyrgyzstan
Table of Contents Kyrgyzstan index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 31 35 39 38 34 40 Gross margin 23 27 29 29 26 30 Gross margin, % 76.4% 76.7% 76.4% 75.9% 76.4% 75.0% Adjusted OIBDA 17 n
Slide 74: Sub Saharan Africa (Telecel Globe)
Table of Contents Sub Saharan Africa (Telecel Globe) index page (in USD millions, unless stated otherwise, unaudited) MOBILE Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 25 24 21 24 22 23 EBITDA 4 2 7 -5 6 9 EBITDA margin 17.5% 7.5% 32.9% n.m. 28.1% 40.5% Subscribers ('00
Slide 75: SEA
Table of Contents SEA index page (in USD millions, unless stated otherwise, unaudited) CONSOLIDATED Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Total operating revenues 10.0 17.8 17.4 23.5 22.8 13.1 Adjusted OIBDA -3.2 n.a. n.a. n.a. n.a. n.a. Adjusted OIBDA, % n.m. n.a. n.a. n.a. n.a. n.a. EBIT