VimpelCom Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported on actual basis, the company reported total operating revenues of $5,591 million compared to $5,619 million a year ago. Operating profit was $1,107 million compared to $1,015 million a year ago. Profit before tax was $534 million compared to $593 million a year ago. The decline is primarily due to a lower foreign exchange gain, which totaled $28 million in first quarter of 2013 compared to a foreign exchange gain of $63 million in first quarter of 2012. Profit attributable to owners of the parent was $408 million or $0.25 basic per share compared to $318 million or $0.20 basic per share a year ago. The increase is the result of higher EBIT, higher financial expenses and the favorable impact attributable to non-controlling interest. Net cash inflows from operating activities were $1,274 million compared to $1,607 million a year ago. Purchase of property and equipment and intangible assets was $890 million compared to $872 million a year ago. EBITDA was $2,348 million compared to $2,311 million a year ago. EBIT was $1,107 million compared to $1,015 million a year ago. Net debt as on March 31, 2013 was $22,861 million compared to $24,339 million a year ago. Capital expenditures were $595 million compared to $632 million a year ago. On pro forma basis, the company reported total operating revenues of $5,591 million compared to $5,619 million a year ago. EBITDA was $2,348 million compared to $2,311 million a year ago. Profit before tax was $543 million compared to $593 million a year ago. Net income was $408 million compared to $318 million a year ago. Operational free cash flow was $1,753 million compared to $1,679 million a year ago. Capital expenditures were $755 million compared to $632 million a year ago. The company reported impairment loss of $8 million for the first quarter of 2013.

VimpelCom Ltd. announced that Henk van Dalen, Chief Financial Officer, has decided to leave the company when his contract expires in September 2013. Mr. van Dalen has agreed that he will remain with VimpelCom to conduct a full and seamless handover to his successor, if necessary beyond his contract expiry date. A process to identify VimpelCom's next Chief Financial Officer is underway and an announcement will be made in due course.

VimpelCom Ltd., Q1 2013 Earnings Call, May 15, 2013