Kyivstar And Beeline End Third Quarter With Profit Of UAH 587.3 Million

CB022158The Kyivstar telecommunications operator and the Beeline mobile communications operator (the Ukrainian Radiosystems and Golden Telecom companies) ended the period of July-September with a net profit of UAH 587.3 million.

This is stated in a report by VimpelCom Ltd., which controls Kyivstar and Beeline.

According to the report, the net revenues of Kyivstar and Beeline increased by UAH 294.4 million or 9.59% to UAH 3,365.4 million in the third quarter compared with the second quarter.

The ARPU (Average revenue per user) of Kyivstar and Beeline increased by UAH 2.9 or 7.3% to UAH 42.6 in the third quarter, compared with the second quarter.

As Ukrainian News earlier reported, Kyivstar and Beeline ended the period of April-June with a net profit of UAH 339 million.

On October 5, 2009, the Altimo company (Russia) and Telenor agreed to merge Kyivstar and VimpelCom to create a new cellular communications operator, VimpelCom Ltd. (Bermuda islands), to provide integrated cellular communications services in Russia, Ukraine, and other member-countries of the Commonwealth of Independent States, as well as in Georgia, Vietnam, Cambodia, and Laos.

Kyivstar and Beeline intend to complete their merger by 2014.

According to the “Top 100 Ukrainian Business Leaders” ranking, Kyivstar was the leading company in the “communications and telecommunications” sector in terms of net revenues (UAH 12.8 billion) and net profits (UAH 5.56 billion) in 2008.

According to the “Top 100 Ukrainian Business Leaders” ranking, Ukrainian Radiosystems was the sixth largest company in the “communications and telecommunications” sector in terms of net revenues (UAH 0.97 billion) and Golden telecom was the seventh largest in terms of net revenues (UAH 607.4 million) in 2008.

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