- VEON press release (NASDAQ:VEON): Q4 Revenue of $953M, an increase of 1.4% Y/Y in reported currency (+17.9% Y/Y in local currency normalized for one-offs).
- EBITDA of $364 million represented a 20.4% Y/Y decrease in reported currency terms (+24.9% Y/Y in local currency normalized for one-offs).
- Capex in 4Q23 was $258 million, a decline of 1.8% Y/Y, and reported capex intensity for the last twelve months was 17.6%.
- Total cash and cash equivalents as of 31 December 2023 amounted to $1.7 billion with $1.3 billion held at the headquarters level.
- In 4Q23, we reported 156.2 million mobile subscribers (- 0.4% YoY). The Group’s 4G user base grew by 10.7% YoY, reaching 93.6 million, with 9.0 million 4G users added over the last 12 months.
- Outlook: For 2024, VEON announces its full-year guidance for revenue and EBITDA of 16%-18% and 18%-20% growth in local currency, and for Group capex intensity of 18%-19%. As a result of its digital operator strategy, and expected slowdown in inflation, the company has guided to another year of double digit growth.
VEON reports Q4 trading update with strong organic revenue growth; initiates FY24 outlook
By Press Room
