VEON FY 2007 Earnings Report — VEON Ltd. Revenue & Financial Results | Market Cap Arena

FY 2007 Earnings

Reported December 30, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$7.2B	—	$4.9B	—	47.3%
Op. Income	$2.2B	—	$1.4B	—	57.9%
Gross Margin	81.7%	—	81.7%	—	-0.0pp
Net Margin	20.4%	—	16.7%	—	3.7pp
EPS (Diluted)	$36.00	—	$20.00	—	80.0%
Free Cash Flow	$1.4B	—	$425M	—	237.2%

Revenue Flow

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$1.3B
GROSS PROFIT	$5.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.2B
SG&A Expenses	$2.2B
Other Expenses	$1.4B
Operating Expenses	$3.6B
Cost & Expenses	$5.0B
OPERATING INCOME	$2.2B
Interest Income	$33M
Interest Expense	$195M
Other Income/Expenses	-$86M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$594M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$1.4B
EBIT	$2.3B
EBITDA	$3.7B
EPS	$36
EPS Diluted	$36

Income Statement

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$1.3B
GROSS PROFIT	$5.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.2B
SG&A Expenses	$2.2B
Other Expenses	$1.4B
Operating Expenses	$3.6B
Cost & Expenses	$5.0B
OPERATING INCOME	$2.2B
Interest Income	$33M
Interest Expense	$195M
Other Income/Expenses	-$86M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$594M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$1.4B
EBIT	$2.3B
EBITDA	$3.7B
EPS	$36
EPS Diluted	$36

Cash Flow Statement

Item	Amount
Net Income	$1.5B
Depreciation & Amortization	$1.4B
Stock-Based Compensation	$171M
Deferred Income Tax	$33M
Other Non-Cash Items	$44M
Change in Working Capital	-$63M
OPERATING CASH FLOW	$3.0B
Capital Expenditure	-$1.6B
Acquisitions (Net)	-$301M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$327M
NET CASH FROM INVESTING	-$2.2B
Net Debt Issuance	$194M
Common Stock Repurchased	-$81M
Common Dividends Paid	-$332M
Other Financing Activities	-$14M
NET CASH FROM FINANCING	-$194M
FREE CASH FLOW	$1.4B
Net Change in Cash	$659M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$43M
Net Receivables	$401M
Inventory	$59M
Other Current Assets	$139M
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$5.5B
Goodwill	$1.0B
Intangible Assets	$1.8B
Long-Term Investments	$6M
Tax Assets	$109M
Other Non-Current Assets	$389M
TOTAL NON-CURRENT ASSETS	$8.8B
TOTAL ASSETS	$10.6B
Account Payables	$698M
Short-Term Debt	$527M
Deferred Revenue	$424M
Other Current Liabilities	$92M
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$2.2B
Deferred Revenue NC	$37M
Deferred Tax Liabilities	$576M
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$4.9B
Common Stock	$92.0K
Additional Paid-In Capital	$1.4B
Retained Earnings	$3.3B
Treasury Stock	-$131M
Accum. Other Comp. Income	$801M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.4B
Minority Interest	$288M
TOTAL EQUITY	$5.7B
TOTAL LIABILITIES & EQUITY	$10.6B
Total Debt	$2.8B
Net Debt	$1.8B