VEON discloses April YTD trading update at its AGM
VEON April YTD 2024 Highlights
- Total revenue of
USD 1,278 million , +8.6% YoY (+12.9% YoY in local currency) - Service revenue of
USD 1,226 million , +7.5% YoY (+11.7% YoY in local currency) - EBITDA of
USD 528 million , +2.1% YoY (+6.4% YoY in local currency) - VEON appoints
UHY LLP as auditors for VEON Group’s 2023 PCAOB audit
During the first four months of 2024, the Group demonstrated accelerated growth. Reported currency revenues for the first four months of 2024 saw an 8.6% increase compared to the previous year; and local currency revenues increased by 12.9% year-on-year. Five out of VEON’s six operating countries demonstrated reported currency revenue growth during this period; and Kyivstar started stabilizing its year-on-year performance in April while continuing to serve
"The robust results for the first four months of 2024 reflect the successful execution of VEON’s Digital Operator strategy, which continues to drive our accelerated top-line growth. Our revenues for 4M24 have increased by nearly 9% year-on-year in reported currency, and almost 13% in local currency terms, fueled by strong performance across our operations and supported by positive FX developments in some of the markets. I would like to thank our
The table below details 4M24 and 4M23 revenues and EBITDA and YoY trends for the Group on a country-by-country basis:
USD million (unaudited) | 4M24 | 4M23 | YoY (reported) | YoY (local currency) |
Total revenue | 1,278 | 1,178 | 8.6% | 12.9% |
| 262 | 303 | (13.5%) | (8.8%) |
| 435 | 355 | 22.3% | 28.8% |
| 287 | 236 | 21.7% | 20.4% |
| 190 | 185 | 2.3% | 6.1% |
| 89 | 84 | 5.2% | 16.0% |
| 18 | 17 | 8.7% | 11.7% |
Service revenue | 1,226 | 1,141 | 7.5% | 11.7% |
| 259 | 301 | (14.0%) | (9.3%) |
| 395 | 331 | 19.3% | 25.5% |
| 280 | 228 | 22.6% | 21.4% |
| 188 | 182 | 2.9% | 6.7% |
| 88 | 84 | 5.0% | 15.8% |
| 18 | 17 | 8.5% | 11.5% |
EBITDA | 528 | 517 | 2.1% | 6.4% |
| 137 | 176 | (22.3%) | (17.9%) |
| 195 | 162 | 19.8% | 25.9% |
| 157 | 124 | 26.5% | 25.2% |
| 63 | 68 | (7.7%) | (4.3%) |
| 32 | 37 | (13.7%) | (4.9%) |
| 6 | 7 | (2.1%) | 0.6% |
The full AGM presentation is available on the
AGM 2024 webcast and dial-in
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About VEON
VEON is a global digital operator that currently provides converged connectivity and online services to about 160 million customers in six dynamic markets. We transform people’s lives, empower individuals, create opportunities for greater digital inclusion and drive economic growth across countries that are home to more than 7% of the world’s population. Headquartered in
Disclaimer
This press release contains “forward-looking statements”, as the phrase is defined in Section 27A of the
VEON’s 4M24 results presented in this press release are, unless otherwise stated, based on IFRS, using internal management accounts, are the responsibility of management and are subject to financial closing procedures which have not yet been completed and have not been externally audited, reviewed or verified. Although we believe the information to be reasonable, actual results may vary from the information contained above and such variations could be material. As such, you should not place undue reliance on this information. This information may not be indicative of the actual results for the quarter or any future period.
Contact Information
VEON
Investor Relations
ir@veon.com
Source:
2024 GlobeNewswire, Inc., source