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May 30, 2009

VimpelCom: steady going

Concern of investors after the publication of the 2008 annual report of VimpelCom cost the company an 11% drop of its shares. No wonder, the issuer reported on its losses of about $1 billion. Such news always looks depressive, all the more under a crisis.  The ‘nervousness’ and unpredictable behaviors of investors are well known.
The company kept presence of mind. “No revision of the brand’s key values is planned”, said Ksenia Korneeva, VimpelCom spokesperson, the next day after the drop of VimpelCom shares. 
As to the change of its advertising agency (a few months ago VimpelCom terminated its cooperation with BBDO Moscow and since mid May Lowe Adventa agency has been its new strategic partner), the company explained this with the need to carry in fresh blood.
“Six-year cooperation in advertising is a long term especially under the actively changing and developing market situation”, Korneeva says.
The confidence of the cellular operator in its position can be based upon its main brand - Beeline. According to the BrandZ survey (an annual study of Millward Brown), owning strong brands is a powerful factor supporting capitalization. In this respect VimpelCom is doing all right.
 “Our surveys within BrandZ, as a Russian partner of Millward Brown, have revealed that Beeline is a well-balanced brand. Not only is it widely represented but also enjoys a high growth potential”, Dmitriy Pisarsky, CEO of A/R/M/I-Marketing Company, explained a few weeks ago. “All that suggests that in a short time the price of the shares will restore”.
This forecast of the expert proved to be true. According to Vedomosti, VimpelCom shares grew by 6.3% on May 28, 2009 at NYSE. This happened despite the published quarterly report of the company stating that earnings of VimpelCom in Quarter 1, 2009 decreased by 6.5% vs. the same period 2008.

Anna Rybnikova, Sostav.ru

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