PJSC VimpelCom: Interim condensed consolidated financial statements as of 31 March 2021 and for the three months ended 31 March 2021

Unaudited interim condensed

consolidated financial statements

Public Joint Stock Company "Vimpel-Communications"

as of 31 March 2021 and

for the three months ended 31 March 2021

	Public Joint Stock Company "Vimpel-Communications"
	Unaudited interim condensed consolidated financial statements
	as of 31 March 2021 and for the three months ended 31 March 2021
	Contents
Report on Review of Interim Condensed Consolidated Financial Statements
Interim consolidated income statement for the three months ended 31 March 2021 ........................................	1
Interim consolidated statement of comprehensive income for the three months ended 31 March 2021...................	2
Interim consolidated statement of financial position as of 31 March 2021.........................................................	3
Interim consolidated statement of changes in equity for the three months ended 31 March 2021....................	4
Interim consolidated statement of changes in equity for the three months ended 31 March 2020....................	4
Interim consolidated statement of cash flows for the three months ended 31 March 2021...............................	5
Notes to the unaudited interim condensed consolidated financial statements as of 31 March 2021 and for the
three months ended 31 March 2021:
1.	General information..................................................................................................................................	6
Operating activities of the Group ...................................................................................................................	6
2.	Segment information ................................................................................................................................	6
3.	Selling, general and administrative expenses..........................................................................................	8
4.	Other non-operating gain, net ..................................................................................................................	8
5.	Income taxes ............................................................................................................................................	9
6.	Inventories................................................................................................................................................	9
7.	Other assets and liabilities .....................................................................................................................	10
Investing activities of the Group...................................................................................................................	10
8.	Property and equipment.........................................................................................................................	10
9.	Intangible assets ....................................................................................................................................	11
10.	Transactions under common control......................................................................................................	11
Financing activities of the Group .................................................................................................................	12
11.	Financial assets and liabilities................................................................................................................	12
12.	Cash and cash equivalents ....................................................................................................................	14
Additional information ...................................................................................................................................	15
13.	Related parties .......................................................................................................................................	15
14.	Risks, commitments, contingencies and uncertainties ..........................................................................	17
15.	Events after the reporting period............................................................................................................	17
16.	Basis of preparation of the interim condensed consolidated financial statements ................................	18

Public Joint Stock Company "Vimpel-Communications"

Interim consolidated income statement for the three months ended 31 March 2021

(All amounts in millions of Rubles)

Three months ended

			31 March
			2021	2020
	Note	(unaudited)	(unaudited)
Service revenue			73,284	74,726
Sale of equipment and accessories			7,422	5,637
Other revenue			368	536
Total operating revenue	2		81,074	80,899
Other operating income			27	-
Service costs			(19,153)	(17,427)
Cost of equipment and accessories			(7,117)	(5,697)
Selling, general and administrative expenses			(23,294)
(including impairment loss on financial assets)	3		(24,734)
Depreciation	8		(18,907)	(17,938)
Amortization	9		(2,514)	(2,930)
(Impairment loss) / reversal of impairment loss			(83)	68
Loss on disposal of non-current assets			(376)	(252)
Operating profit			9,657	11,989
Finance costs			(5,593)	(6,783)
Finance income			469	1,098
Foreign exchange gain / (loss), net			506	(8,393)
Other non-operating gain, net	4		193	3,979
Profit before tax			5,232	1,890
Income tax expense	5		(2,071)	(1,223)
Profit for the period			3,161	667
Profit for the period attributable to:			2,017
The owners of the Company			2,283
Non-controlling interests			1,144	(1,616)
			3,161	667

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

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Public Joint Stock Company "Vimpel-Communications"

Interim consolidated statement of comprehensive income

for the three months ended 31 March 2021

(All amounts in millions of Rubles)

		Three months ended
		31 March
		2021	2020
Profit for the period	(unaudited)	(unaudited)
3,161	667
Other comprehensive income / (loss)
Items that may be reclassified subsequently to profit or loss:
Foreign currency translation reserve arising on net investment in foreign operations	861	5,791
Income tax benefit / (expense)	-	-
Other comprehensive income / (loss) for the period, net of tax
861	5,791
Total comprehensive income / (loss) for the period, net of tax	4,022	6,458
Attributable to:	3,132
The owners of the Company	8,012
Non-controlling interests	890	(1,554)
		4,022	6,458

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

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