Amsterdam (January 28, 2014) - VimpelCom Ltd ( VimpelCom , Company or Group ) (NASDAQ: VIP), a leading global provider of telecommunications services, today will present an update on its strategy, the Value Agenda, at the Company's annual Analyst and Investor Conference in London. The Company also announced that its Supervisory Board approved a new dividend policy pursuant to which from 2014 it aims to pay annual dividends of USD 0.035 per share until the Company reaches a group Net Debt to EBITDA ratio of under 2 times. The Supervisory Board also decided that the Company will not make a final 2013 dividend payment.
During the Analyst and Investor Conference, VimpelCom's leadership team will provide an update on its strategic Value Agenda at the Group level, as well as at its Business Units level. The Value Agenda is focused on increasing Net Cash from four main pillars:
Profitable Growth - driving revenue growth that leads to enhanced profitability by focusing on gaining share in mobile data revenues and capitalizing on areas such as Mobile Financial Services and partnerships with Over-The-Top players;
Customer Excellence - creating a superior customer experience, optimizing distribution and developing superior pricing capabilities by offering smart pricing in bundles, among other strategies;
Operational Excellence - focusing on cost efficiency programs throughout the entire organization; and
Capital Efficiency - deploying capital more efficiently through increased network sharing, continued business portfolio optimization and improving capital structure.
VimpelCom's management will also provide annual targets * replacing the medium-term objectives previously provided by the Company. The annual targets for 2014 are:
Revenues and EBITDA to be stable year over year;
Net Debt / EBITDA of about 2.3 by the end of 2014; and
Capex / Revenues, excluding licenses, of approximately 21% in 2014.
Presentations from the conference and the link to the video webcast may be downloaded from the Company's website: www.vimpelcom.com.
Jo Lunder, the Company's Chief Executive Officer, stated, Despite the challenging macro and regulatory environments in our markets, we continue to make progress against our Value Agenda, while focusing on creating long-term value by investing in future growth. We have strong positions in all of our markets and we see future growth potential, particularly across our emerging markets portfolio. VimpelCom continues to have an attractive combination of mature, strong cash-generating businesses and solid emerging market growth opportunities. Mr. Lunder continued, Today, the Company's Supervisory Board decided to approve a new annual dividend target of USD 0.035 per share to support the Company's deleveraging and investment in future growth.
In taking its decision to adjust the dividend policy the Supervisory Board considered various factors, such as the Company's desired leverage and investment levels, consistent with the conditions set forth in the Company's prior dividend policy. The precise timing of dividends for a particular year will be determined by the Supervisory Board in the future.
Disclaimer
This 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 Companys strategy, 2014 targets and the new dividend policy. The forward-looking statements are based on managements best assessment of the Companys strategic and financial position, and future market conditions and trends. The 2014 targets assume that there are no unexpected adverse currency changes and regulatory actions and a stable macroeconomic environment in the Company's countries of operation. These discussions and assumptions involve risks and uncertainties. The actual outcome may differ materially from these statements as a result of continued volatility in the economies in the markets in which the Company operates, unforeseen developments from competition, governmental regulation of the telecommunications industries and general political uncertainties in the markets in which the Company operates and/or litigation with third parties. There can be no assurance that these risks and uncertainties will not have a material adverse effect on the Company, that the Company will be able to grow in line with its targets or that it will be successful in executing its strategy and achieving its 2014 targets. Further, there can be no assurance that the Supervisory Board will approve any future dividend payments, the amount thereof or the timing of dividend payment approvals. Certain factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in the Company's annual report on Form 20-F for the year ended December 31, 2012 filed with the U.S. Securities and Exchange Commission (the SEC ) and other public filings made by the Company with the SEC, which risk factors are incorporated herein by reference. VimpelCom disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained herein, or to make corrections to reflect future events or developments.
About VimpelCom
VimpelCom is one of the world's largest integrated telecommunications services operators providing voice and data services through a range of traditional and broadband mobile and fixed technologies in Russia, Italy, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic and Canada. VimpelCom's operations around the globe cover territory with a total popula
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Amsterdam (January 28, 2014) - VimpelCom Ltd ( VimpelCom , Company or Group ) (NASDAQ: VIP), a leading global provider of telecommunications services, today will present an update on its strategy, the Value Agenda, at the Company's annual Analyst and Investor Conference in London. The Company also announced that its Supervisory Board approved a new dividend policy pursuant to which from 2014 it aims to pay annual dividends of USD 0.035 per share until the Company reaches a group Net Debt to EBITDA ratio of under 2 times. The Supervisory Board also decided that the Company will not make a final 2013 dividend payment.
