29 Jun 2022
VEON reports revenue growth for 5M22 at AGM Amsterdam, 29 June 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, will disclose key financial highlights for the first five months of 2022 ( 5M22 ) at the annual general meeting of shareholders (the AGM ) being held today. VEON Group 5M22 consolidated revenue, is in positive territory, up by 1.3% in reported currency, and by 8.7% YoY in local currency terms, with six of our eight countries reporting double-digit local currency revenue growth for the period.
Group CEO Kaan Terzioglu commented: Our digital operator strategy is delivering solid results, enabled by growing 4G penetration. VEON Group's topline growth was an encouraging 8.7% YoY in local currency terms, driven by solid performance in our operations, despite the particularly challenging circumstances. Building on an expanding portfolio of services and with a constant focus on customer experience, our operations are growing their subscriber base, improving their user engagement, reducing churn, increasing their ARPU levels and gaining market share. I am proud of the work done by our teams, and would like to thank our Board and shareholders for their support.
The table below details the 5M22 revenue and EBITDA trends on a country-by-country basis:
MAY 2022 YTD
REVENUE YoY growth
(reported)
REVENUE YoY growth
(reported)
EBITDA YoY growth
(reported)
EBITDA YoY growth
(local currency)
*norm EBITDA YoY growth
(local currency)
VEON Group 1.3% 8.7% -2.0% 5.4% 7.3%
Russia -1.5% 3.5% 0.5% 5.2%
Pakistan -5.6% 10.2% -4.2% 12.0%
Ukraine 7.2% 10.8% -3.4% -0.2% 4.4%
Kazakhstan 13.5% 20.5% 7.2% 14.1% 18.3%
Bangladesh 7.7% 9.8% 0.6% 2.5%
Uzbekistan 17.0% 23.1% 8.0% 13.6%
Georgia 22.5% 12.1% 26.6% 15.4%
Kyrgyzstan 8.2% 10.7% -48.2% -47.1% 18.2%
*EBITDA normalised in Ukraine and Kazakhstan is related to employee support and the extraordinary charitable donations in 1Q22. Kyrgyzstan relates to a reversal of a tax accrual in 2Q21. The full AGM presentation is available on the VEON Group website at https://www.veon.com/investors/equity-investors/agm/
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 year-to-date 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.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. For more information visit: www.veon.com
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 more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy
We wont track your information when you visit our site. But in order to comply with your preferences, well have to use just one tiny cookie so that youre not asked to make this choice again.
AcceptDecline
Europe Stories
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
10/01/2026
This year, podcasts are making their Golden Globes debut with a new category honoring the medium's leading shows and creators. To mark the occasion, Spotify...
09/01/2026
RT Player has 157 million streams, up 10% year-on-year
An increase on 2024, RT...
09/01/2026
RT 2FM has today announced the highly anticipated list of 2FM Rising Artists for 2026, kicking off 2FM Rising week for the eighth year on The Tracy Clifford Sh...
09/01/2026
RT to Host the 2026 RTS Ireland Awards
Thursday, 16 April 2026 | Dublin Royal Convention Centre
The RTS Ireland Television Awards 2026 | Gradaim RTS 2026 | R...
08/01/2026
An evidence-based analysis on disinformation and information manipulation in Sudan's ongoing conflict is published today. (January 8th 2026).
Thomson Found...
08/01/2026
In 2025 we launched the Spotify Partner Program to give creators more ways to tu...
08/01/2026
On Wednesday in Los Angeles, Spotify welcomed creators and press to a brunch cel...
08/01/2026
TSA awards Rohde & Schwarz contract for advanced airport screening ahead of Socc...
08/01/2026
The review looks back at DPA's miniature microphone development over the years. It compares the evolving technologies from the original mics through CORE an...
08/01/2026
Comscore Launches Audio Targeting and Measurement Capabilities with The Trade De...
08/01/2026
Tonight, on RT Prime Time at 9:35pm on RT One and RT Player
Tonight, Prime T...
08/01/2026
The Late Late Show celebrates the very best of traditional Irish music with its first-ever full special dedicated entirely to the tradition
Lisa Canny | Kevin...
08/01/2026
It will be murder on the dancefloor when Dancing with the Stars returns this S...
07/01/2026
Spotify is launching a week-long celebration spotlighting creators at the center...
07/01/2026
We know people use Spotify not just to listen, but to share the songs, podcasts, and audiobooks they love with their friends and family. When we launched Messag...
07/01/2026
This week, all eyes are on the podcast industry as the Golden Globes recognizes ...
07/01/2026
Podcasts are stepping onto a new stage this week as the Golden Globes recognize the medium for the first time. To mark this milestone moment, we're hosting ...
06/01/2026
Spotify is launching a week-long celebration spotlighting creators at the center...
06/01/2026
Lorde. A$AP Rocky. JENNIE. Baby Keem. KATSEYE. That's just a taste of who...
06/01/2026
Channel 4 and UKTV are giving viewers even more reasons to stream, with UKTV's U service set to feature thousands of hours of free, unmissable and bingeable...
06/01/2026
Tuesday 6 January 2026
An update on our Sky Mobile prices
Devesh Raj, Chief Operating Officer, Sky
Today, we've announced some changes to the prices of ...
06/01/2026
Comscore Launches Daily Program-Level Reporting with Deduplicated Insights on Sh...
06/01/2026
Comscore Completes Recapitalization Transaction with Preferred Stockholders Foll...
05/01/2026
Bad Bunny's DeB TiRAR M S FOToS defined the sound of 2025 for listeners eve...
05/01/2026
As the clock struck midnight and 2026 was born, so was an exciting range of new ...
05/01/2026
These Sacred Vows starring Tom Vaughan-Lawlor, Justine Mitchell and Jason O'...
05/01/2026
DANDANCING WITH THE STARS RETURNS TO SHAKE UP SUNDAY NIGHTS
Reigning Rose of Tr...
02/01/2026
Any Given Day: Cork University Hospital premieres Wednesday 7 January on RT One and RT Player at 9:35pm
RT will debut a powerful new six-part documentary se...
02/01/2026
Friday 2 January 2026
All episodes of Heated Rivalry will be landing on Sky and...
02/01/2026
Sequins, chat shows, live sporting action, ground-breaking docuseries and brand-new Irish drama to kick off 2026
New Year, New Content Coming Soon across RT
...
01/01/2026
The Quantum 852 is situated in the 6,500-seat Seoul-based place of worship, a church which is home to a 1,000-person choir and a 50-piece orchestra. There are f...
01/01/2026
Formed in 2002, OneRepublic have enjoyed huge international success, with over 18 billion streams on Spotify alone. Their current tour, Escape to Europe, contin...
01/01/2026
We had been using the club's previous console for the last ten years, so we researched manufacturer information very carefully, says venue audio manager Mr...
30/12/2025
Your live countdown to 2026 with Inhaler, David Gray, Lyra, Garron Noone, Sharon...
29/12/2025
From crisper Lossless audio and immersive music videos in beta to new Audiobooks+ plans, custom transitions between tracks, and in-app Messages, we keep levelin...
24/12/2025
RT has unveiled an exclusive first look at the new Dancing with the Stars promo...
23/12/2025
The year is winding down, the weather outside is frightful, and it's the perfect time to escape into a story that warms the heart. For listeners looking for...
23/12/2025
23 Dec 2025
VEON's Beeline Kazakhstan and Rakuten Symphony Collaborate to A...
22/12/2025
For a decade, popular German podcast Fest & Flauschig has hosted an annual Chris...
22/12/2025
Monday 22 December 2025
Sky extends PGA TOUR partnership until 2029, as Sky Spo...
22/12/2025
Siobh n McSweeney, Rory McIlroy, Elon Musk, Catherine Connolly, Jim Gavin, Ivan Yates and Traitor Paudie Moloney lead new characters for Callan Kicks the Year 2...
22/12/2025
Winner announced in the picturesque surroundings of Wicklow's Avondale Tower and Treetop Walk
Andrew Trimble wins the show in his first series as coach
Th...
22/12/2025
The 2025 winners have been announced today, Sunday 21 December, for Ireland's largest choral competition Choirs for Christmas hosted by RT lyric fm.
Ove...
21/12/2025
John Shortt named Young Sportsperson of the Year Kerry are the Team of the Year
...
19/12/2025
With Playout Release 2025.4, ToolsOnAir continues to push professional playout w...
29 Jun 2022
