29 Jun 2023
VEON reveals faster local currency revenue and EBITDA growth in first five months at AGM Amsterdam, 29 June 2023 07:00 CEST - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, will report its key financial highlights for the first five months of 2023 (5M23) at the annual general meeting of shareholders ( AGM ) being held today.
During April and May 2023, VEON Group demonstrated accelerated growth in local currency revenues, achieving a 19.0% year-on-year increase. These results have solidified the strong year-to-date performance. While reported currency revenues for the first five months of 2023 saw a 7.6% decline compared to the previous year, local currency revenues increased by 16.8% year-on-year. Notably, five out of our six countries experienced double-digit local currency revenue growth during this period. Despite the challenges, Kyivstar showcased resilient growth and continued to serve Ukraine with dedication.
Group CEO Kaan Terzio lu expressed his satisfaction, stating, The robust operating results in April and May reflect the successful execution of VEON Groups Digital Operator strategy, which continues to drive our accelerated top-line growth. Our revenues for the April-May period have increased by an encouraging 19% year-on-year in local currency terms, fueled by strong performance across all our local operations despite the challenging business landscape.
Terzio lu continued, We are actively expanding our portfolio of digital products and services while remaining dedicated to delivering a great customer experience. As a result, we are attracting a larger customer base that embraces our digital services, resulting in improved user engagement, reduced customer turnover, increased average revenue per user ( ARPU ), and expanded market share. These achievements underscore our strong operational performance.
Terzio lu concluded by acknowledging the efforts of the VEON teams across all six countries of operation, expressing gratitude to the Board and shareholders for their ongoing support.
The table below details both the April and May ( QTD ) and 5M23 revenues and EBITDA trends for the Group on a country-by-country basis:
Period ended 31 May 2023
(unaudited) QTD YoY
(reported)
QTD YoY
(local currency)
5M23 YoY
(reported)
5M23 YoY
(local currency)
Total revenue (5.9%)
19.0% (7.6%) 16.8%
Ukraine (7.5%) 15.6% (13.5%) 9.7%
Pakistan (19.8%) 20.2% (20.2%) 17.7%
Kazakhstan 19.7% 21.5% 21.8% 22.5%
Bangladesh (5.5%) 16.0% (4.7%) 17.0%
Uzbekistan 22.0% 24.3% 20.7% 24.1%
Kyrgyzstan 16.2% 23.0% 19.8% 20.6%
Service revenue (5.3%) 19.5% (6.9%) 17.4%
Ukraine (7.7%) 15.3% (13.6%) 9.6%
Pakistan (18.4%) 22.2% (19.2%) 19.2%
Kazakhstan 19.1% 21.0% 22.4% 23.0%
Bangladesh (5.3%) 16.2% (4.5%) 17.2%
Uzbekistan 22.0% 24.3% 20.7% 24.1%
Kyrgyzstan 16.6% 23.4% 19.9% 20.7%
EBITDA (7.3%) 19.6% (11.1%) 14.6%
Ukraine (11.8%) 10.2% (17.7%) 4.5%
Pakistan (16.9%) 24.6% (20.7%) 17.1%
Kazakhstan 19.7% 21.8% 30.4% 30.7%
Bangladesh (4.6%) 17.0% (7.2%) 13.9%
Uzbekistan 8.6% 10.7% 7.0% 10.1%
Kyrgyzstan (8.9%) (4.1%) 13.5% 14.4%
The full AGM presentation is available on the VEON Group website at https://www.veon.com/investors/equity-investors/agm/.
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 Amsterdam, VEON is listed on NASDAQ and Euronext Amsterdam, and has a broad investor base. For more information visit: https://www.veon.com.
Disclaimer
This press release contains forward-looking statements , as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding management plans and the ability to successfully execute operating model, governance and development plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Furthermore, elements of this release contain or may contain, inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.
VEON's QTD and 5M23 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
Nik Kershaw
ir@veon.com
This website stores cookies on your computer. These cookies are used to improve vour website experience and provide mor
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
09/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
09/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
09/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
09/10/2026
September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026
New Sports Intelligence helps providers better unders...
08/10/2026
Modern venues have come a long way since the tinny, echoing audio of the mid 20t...
08/10/2026
ESPN's first Super Bowl production will stream in English and Spanish on Disney+, while the ESPN App carries the full slate of game, ManningCast, studio, an...
08/10/2026
From high-school videoboards to War Eagle Productions, the Opelika native is learning how to lead shows and capture big moments
The future of live sports produ...
08/10/2026
The Television Academy and Prime Video have announced a six-year agreement making Prime Video the exclusive global home of the Emmy Awards beginning with the 20...
08/10/2026
Techex will exhibit at NAB Show New York 2026 (Booth 623, Javits Center, October...
08/10/2026
X Games has announced the appointment of Steve Rogers as Chief Operating Officer. Rogers previously served as COO of World Supercross and spent nearly a decade ...
08/10/2026
Fonn Group has appointed Trevor Spielmann as Sales Director for Germany, Austria, and Switzerland. Spielmann joins from EVS, where he held sales and business de...
08/10/2026
The flagship program will originate from major PG events with a four-camera production, live distribution across PGTV, social platforms
Perfect Game is bringin...
08/10/2026
Innovation rarely happens in a vacuum. More often, it happens at the point of collision: when worlds that have run on separate tracks begin to converge. That is...
08/10/2026
For decades, the production and broadcast services business has run on a familia...
08/10/2026
Uplynk, Zixi, BroadView Software, and Grass Valley have published The IP Converg...
08/10/2026
The NFL has announced the return of the Big Data Bowl, the league's analytics competition, now in its ninth year and again powered by AWS. Registration is o...
08/10/2026
Eutelsat has renewed its partnership with T l diffusion d'Alg rie (TDA), Algeria's national broadcasting network operator, for continued distribution of...
08/10/2026
Disney will livestream Super Bowl LXI on February 14, 2027, alongside the game's broadcast on ESPN and ABC. All Disney subscribers in the United States wi...
08/10/2026
RHStv and Red House Streaming have announced an expansion of their partnership w...
08/10/2026
Gray Media has announced a distribution agreement with TEGNA and DAZN to simulca...
08/10/2026
SVG readers can save 10% on registration and receive a complimentary Solutions H...
08/10/2026
PROTON Camera Innovations GmbH has been named a recipient of a 2026 Technology a...
08/10/2026
Industry leaders discuss real-world cloud workflows for live game production, pl...
08/10/2026
The next-gen audio technology joins Dolby Vision as part of Apple TV's immersive F1 experience...
08/10/2026
David France, Jesse Short Bull, Mato Wayuhi, N. Bird Runningwater, Jodi Archambau, Jhane Myers, Paul McGuire, Amber Morning Star Byars, Holly Macarro, Nick Tils...
08/10/2026
Dynamic panning plug-ins get an upgrade
Sound Particles have just announced major updates for two of their popular dynamic panning plug-ins. Energy Panner 2...
08/10/2026
New expandable instrument boasts full DMNO engine
UDO Audio have just announced the upcoming release of a new, expandable synth that packs the power of the ...
08/10/2026
Two new subwoofers added to monitoring line-up
ADAM Audio's monitoring range has just been expanded with two new DSP-equipped subwoofers, the Sub8 PRO a...
08/10/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
08/10/2026
Calrec gives broadcasters freedom of choice at NAB Show New York We're looking forward to meeting up with you all at NAB New York on 21st-22nd October.
Cal...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Globecast, a leading provider of broadcast, media and entertainment managed services, will showcase its next generation of media orchestration services at NAB S...
08/10/2026
Clear-Com played a critical role in the production communications infrastructure for Rock in Rio 2026, one of the world's largest and most recognized music...
08/10/2026
Sohonet Launches ClearView Rush: A Leap Forward in Studio Review, Built for Crea...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Ikegami announces a major expansion to its range of broadcast-quality live production cameras. Scheduled for introduction on Ikegami booth 708 at NAB New York, ...
08/10/2026
Calrec will be located at Booth 444.
Freedom to choose
The media landscape is evolving quickly, and the broadcasters best placed for what comes next will be...
08/10/2026
LiveU has announced that CRD Audiovisuel relied on LiveUs LU900Q intelligent production unit, with built-in native LiveU IQ (LIQ ) connectivity, to deliver live...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29 Jun 2023
