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 ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
Celebrates company's 80th anniversary
Rhodes have recently revealed that they will be producing a limited run of electric pianos in celebration of their...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
03/07/2026
New bundle & three Single Packs
Continuing to expand their already sizeable orchestral collection, VSL's latest release introduces three new Single Pack...
03/07/2026
Venue installs new ATC-equipped control room
LSO St Luke's, a unique music venue that also serves as the home of the London Symphony Orchestra, have rec...
03/07/2026
1 February 2023
SHARE Facebook Twitter Linkedin Email
Munich, Germany, 1st February 2023: Cinegy GmbH, the premier provider of software technology for digit...
02/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
02/07/2026
A new era in unmixing and spectral editing
The latest version of Steinberg's spectral audio-editing software has just arrived, building on the strength...
02/07/2026
Aims to simplify additive synthesis
Sine Machine is the debut launch from Melatonin, a Vienna-based developer who have spent the past six years creating wha...
02/07/2026
Products to remain fully active & supported
Following the news of Native Instruments joining the inMusic brand line-up, Academy and Emmy Award-winning visua...
02/07/2026
What you missed!
Last weekend, Saturday 27 June 2026, saw the debut of Sound On Sounds new GearExpo UK event, the largest dedicated pro-audio event to take ...
02/07/2026
Thursday 2 July 2026
Tea with Judi Dench returns to Sky Arts with legendary guest, Sir Ian McKellen
Sky today confirms Tea with Judi Dench will return this su...
01/07/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
01/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
01/07/2026
Exclusive run of limited-edition modelling pedals
Sweetwater and Andertons M...
01/07/2026
LEXINGTON, Kentucky - July 2026 -Tyler Childers' seventh and latest studio record, Snipe Hunter, is an adventurously sprawling collection of tunes that span...
01/07/2026
** MEDIA ALERT **
BLEACH Comes to Life in Los Angeles with First-of-Its-Kind...
01/07/2026
UKTV has today announced the appointment of Matt Berry to the newly created role of General Manager - Marketing, effective 1 July.
Matt will take on this senio...
01/07/2026
Sky Zero Footprint Fund-backed TV campaign featuring Deborah Meaden challenges consumers to rethink everyday bathroom wasteWednesday 1 July 2026
Fussy asks Bri...
01/07/2026
Constituency-level analysis reveals where girls miss out most on sport - and where targeted action could unlock more than £640 million in economic and health be...
01/07/2026
Wuppertal July 1, 2026
Riedel and SKAARHOJ Expand Collaboration With SimplyLive IntegrationRiedel Communications today announced an expanded collaboration wit...
01/07/2026
Apple today introduced power-packed updates to Apple Creator Studio, a groundbre...
01/07/2026
Nectar360, the Retail Media, Loyalty and Insights business of the Sainsburys Gro...
01/07/2026
9.2 million streams on RT Player between 11 and 28 June
Reach of 2.9 million viewers during Group stages of FIFA World Cup on RT 2
23 million video views acr...
30/06/2026
Could your journalism reach an international stage?
Entries are now open for the Thomson Foundation's Young Journalist Award 2026, one of the most prestigi...
30/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
30/06/2026
New IR reverb engine, Juno-inspired chorus & more
The latest version of Rapid Flow's hardware-emulation synth plug-in expands on its predecessor with a ...
30/06/2026
Excels at heavy-handed VCA compression
For their latest release, Shy Audio have recreated the crunchy' sound of a rackmount compressor that found its w...
30/06/2026
Component scarcity drives cost increases
Shortly after Apple's CEO Tim Cook acknowledged that cost increases would soon be inevitable , the company hav...
30/06/2026
Hitachi and Bank Pekao S.A. have completed the installation of the first Hitachi...
30/06/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
29/06/2026
Four-layer instrument aimed at dark electronic music
Excite Audio's latest software instrument has been designed with dark drum and bass, atmospheric te...
29/06/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
29/06/2026
Details environmental policies & results
The Focusrite Group have just announced that following a long audit process, they have published their 2026 sustain...
29/06/2026
Arvato Systems Achieves AWS Cloud Operations Competency
The team behind the AWS Cloud Operations Competency (from left to right: Philipp Hellmich, Johanna Bod...
29/06/2026
RT today announced that Ger Gilroy will join the RT Podcasts team to present a daily sports podcast. Launching later this year, the new show will set the spor...
29/06/2026
RT Commercial announced OUTsurance as sponsor of the Oliver Callan show on RT Radio 1 from Wednesday 1 July.
Oliver Callan doubles the fun, delivering two ...
28/06/2026
Half-size model joins Console 1 line-up
Shortly after the release of their new Flow Studio controller, Softube have announced the launch of another new surf...
28/06/2026
New EXO Series DSP control software announced
EVE Audio's EXO Series monitor range has just gained a new software element that provides remote access to...
27/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
26/06/2026
Virtual session musician plug-in gains new percussion options
Celemony's latest update for their virtual session musician platform complements the exist...
26/06/2026
Half-size model joins Console 1 line-up
Shortly after the release of their new Flow Studio controller, Softube have announced the launch of another new surf...
26/06/2026
ELT Group and Rohde & Schwarz sign a cooperation agreement to explore commercial...
26/06/2026
Flicker Productions to produce five-part docu-reality series following women who have fallen for men in prison and have become TikTok sensations, with brands an...
26/06/2026
Catch up on the latest developments across Baselight and Daylight v7, Nara and F...
26/06/2026
26. June 2026 News
DFT is pleased to announce that a second Polar HQ film s...
29 Jun 2022
