Q3 revenues have increased by 4% yoy at constant currency (vs +7% in H1). This is the expected number even if it is 1% below our expectations. Note management, which had revised upward the range of the outlook for 2015 from 4-6% to 5-7% just after the Q1 results, is now targeting only 5% growth for the whole year. The Q3 EBITDA margin remained stable at 37%. This performance is in line with our expectations. The EBITDA margin for the full year should be 35%, in the middle of the range given b
02 Nov 2015
Q3 in line with expectations and sale of Telenor's shares in Vimpelcom
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Q3 in line with expectations and sale of Telenor's shares in Vimpelcom
Q3 revenues have increased by 4% yoy at constant currency (vs +7% in H1). This is the expected number even if it is 1% below our expectations. Note management, which had revised upward the range of the outlook for 2015 from 4-6% to 5-7% just after the Q1 results, is now targeting only 5% growth for the whole year. The Q3 EBITDA margin remained stable at 37%. This performance is in line with our expectations. The EBITDA margin for the full year should be 35%, in the middle of the range given b