In its CMD 2024 materials, the Group will disclose the following key ambitions through 2027:
- Medium-term revenue growth at a compound annual growth rate (“CAGR”) from 2023 to 2027 of 16%-19% in local currency.
- Medium-term EBITDA growth with a CAGR from 2023 to 2027 of 19%-22% in local currency.
- EBITDA margin expansion by 3 percentage points by 2027.
USD 900 million to 1.0 billion in equity free cashflow (“EFCF”) by 2027.- Focusing on its DO1440 and AI1440 strategy, increasing the share of multiplay customers to 50% by the end of 2027 and capturing greater wallet share through expansion in adjacent verticals.
The Group’s medium-term ambitions also include decreasing leverage; increasing the share of localized debt, with the share of USD and EUR-denominated debt decreasing to below 50%. The Group aims to maintain a leverage ratio below 1.5x and extend the average tenor of its debt from 3.4 years in Q1 2024 to over 4 years by 2027.
“Over the past three years, we have transformed our companies into digital operators and demonstrated that emerging markets are in fact an exciting growth opportunity for global investors. Our aspirations from 2023 through 2027 set the bar higher as we aim for 16%-19% CAGR growth in our Group revenues, 19%-22% CAGR growth in our Group EBITDA and close to
Ambition 2021 CMD | Performance delivered | 2027 Ambition |
10-14% Revenue & EBITDA 3-year CAGR, in local currency | 15.4% revenue and 14.8% EBITDA CAGR in local currency from 2021 CMD | 16-19% revenue CAGR between 2023 and 2027 in local currency |
Mid-single digit revenue growth, 3-year CAGR, in USD | -1.7% revenue growth, CAGR in USD from 2021 CMD | 19-22% EBITDA CAGR between 2023 and 2027 in local currency |
+3 p.p. EBITDA margin expansion by 2024 | Flat EBITDA margin from 2021 CMD, marginally maintained | +3 p.p. EBITDA margin expansion by 2027 |
<20% last twelve months (“LTM”) capex intensity in 2024 | 19% LTM capex intensity in 1Q24; | |
c.70% 4G user penetration by 2024 | 62% 4G user penetration in 1Q24 25% of customer base in multiplay B2C segment in 1Q24 | DO1440+ and AI1440 strategy: 50% of customer base in multiplay B2C segment by 2027 |
During VEON’s Capital Markets Day 2024, to be held at
Operating company | Ambition by 2027 |
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Going forward, the Group aims to upstream dividends from all operating companies without restrictions, including from
VEON 2024 CMD webcast and presentation
To register and access the CMD webcast, please click here or copy and paste this link to the address bar of your browser: https://veon-2024-investor-day.open-exchange.net/registration
Once registered, you will receive a registration confirmation message at the email address provided during registration with a link to access the webcast.
The full CMD presentation will be made available on the VEON website at https://www.veon.com/investors/ following the event.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in
Disclaimer
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the
Contact
VEON
Group Director of Communications
pr@veon.com
Investor Relations
ir@veon.com
Attachment
- VEON Capital Markets Day 2024
VEON Capital Markets Day 2024
VEON Capital Markets Day 2024
2024 GlobeNewswire, Inc., source