Q3 2024 VEON Ltd Earnings Call Transcript

Nov 14, 2024 / 01:00 PM GMT

Release Date Price: $33.86 (+0.68%)

Transcript

Key Points

Positve

VEON Ltd (VEON) reported a strong revenue growth of 9.8% year over year in US dollars and 14.1% in local currency terms.
The company achieved a significant reduction in the weighted average blended inflation rate across its markets, from 16.5% in Q3 2023 to 8.2% in Q3 2024.
VEON Ltd (VEON) saw a substantial increase in direct digital revenues, which grew 35.1% year on year in US dollars.
The company added 8 million additional 4G customers year on year, with 4G penetration rising to 65%.
VEON Ltd (VEON) maintained a healthy liquidity position with a cash reserve of $1 billion, demonstrating effective cash management.

Negative

VEON Ltd (VEON) experienced a negative 1.5% growth in EBITDA in US dollars, impacted by identified items such as restructuring costs and charitable donations.
Revenues in Bangladesh declined by 8.4% due to the revolution and new tax on revenues, affecting overall performance.
The company faced higher energy tariffs and increased network expansion costs in Uzbekistan, impacting EBITDA growth.
Capital expenditures increased significantly by 51.2% year on year, reflecting challenges in importing equipment to Pakistan.
VEON Ltd (VEON) revised its prior local currency guidance, lowering expected growth rates for total revenue and EBITDA for 2024.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VON.AS - VEON Ltd
Q3 2024 VEON Ltd Earnings Call
Nov 14, 2024 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to Veon's Q3 2024 trading update call. We ask that you please hold all questions until the completion of the formal remarks. At which time you will be given instructions for the question and answer session.

Also as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time. Faisal Gori. You may begin.

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Unidentified_2 [2]
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Thank you. Good afternoon and good morning to everyone and thank you for joining us today for Veon's third quarter results presentation for the period ending September 30th 2024. I

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