VimpelCom’s revenue from Pakistani operations increased by 17 percent year-on-year in organic terms to PKR 38.5 billion in the third quarter of 2016. VimpelCom closed the transaction to merge Mobilink with Warid in July. Warid’s financial results have been consolidated in VimpelCom´s accounts from 1 July 2016. VimpelCom’s reported service revenue in Pakistan increased by 47 percent, while organically, excluding Warid, it rose 16 percent.
VimpelCom reports that the newly merged entity gained market share in the third quarter of 2016, as Mobilink continued to show double-digit growth of its mobile customer base and revenue. Underlying EBITDA margin, excluding integration costs related to the Warid transaction, was 42 percent in the third quarter of this year, supported by Warid’s improved margins, resulting from the progress of integration activities, VimpelCom said.
VimpelCom expects to finalize the legal merger of Mobilink and Warid by the first quarter of 2017. The two companies have already introduced unified on-net offers to their customers since late October. Site sharing activities and marketing cost optimization resulted in the first synergies, totaling PKR 0.5 billion in Q3 2016.
V impelCom ended September with 51 million mobile customers in Pakistan, up from 35.2 million in the year-earlier period. Mobile data customers amounted to 24.7 million at end-September. Capex grew to PKR 7.6 billion in the quarter.
Mobilink’s stand-alone third-quarter service revenue increased by 16 percent, supported by all revenue streams, VimpelCom said. Mobilink continues to show voice and SMS revenue growth, which is a result of customer growth. Data revenue grew by 71 percent. Mobilink’s customer base increased 15 percent year-on-year in the third quarter of 2016.
Mobilink didn’t reveal its ARPU, average monthly voice and data stats for the quarter.