Veon reveals revenue increase

Veon reveals revenue increase

Veon Group announced revenue was up by 6.6% US$942 million, and maintained its full-year guidance for revenue of between 16% and 18%.

In the company’s Q1 2024 statement, Veon detailed its capex was up by 38.6% year-on-year, and EBITDA stayed flat at US$385 million.

Service revenues amounted to US$903 million an increase of 5.5% year-on-year. Total cash and cash equivalents as of 31 March 2024 wasa US$632 million with US$261 million held at the headquarters level.

The company did not break out its profits.

Veon CEO Kaan Terzioglu said: “Our operating companies successfully leverage our customer acquisition and engagement capabilities as well as our distribution power to meet the growing demand for digitalization in our markets, where we served a total of 111 million monthly active users across our digital services in March 2024.” 

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