Q1 2026 VEON Ltd Earnings Call Transcript
Key Points
- VEON Ltd (VEON) reported a 17% year-on-year revenue growth in US dollars, demonstrating strong financial performance.
- Digital revenues grew by 57.7% year-on-year, now representing over 25% of the group's total revenues.
- The company achieved a significant increase in equity free cash flow, up 73.4% year-on-year to $246 million.
- VEON Ltd (VEON) is expanding its financial services footprint with strategic acquisitions like TPL Insurance and Apna Bank.
- The company is executing a $100 million buyback program, reinforcing its commitment to returning capital to shareholders.
- There is potential for EBITDA margin contraction due to geopolitical uncertainties and energy price volatility.
- The company faces challenges in markets like Bangladesh with fuel availability issues impacting operations.
- VEON Ltd (VEON) is experiencing flat or declining customer numbers in Uzbekistan, although ARPU is growing.
- The company is cautious about its EBITDA guidance due to external factors, indicating potential risks to profitability.
- VEON Ltd (VEON) is navigating high inflation rates across its markets, which could impact future financial performance.
Hello, and welcome to VEON's Q1 '26 results presentation. (Operator Instructions) As a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time. Anand Ramachandran, you may begin.
Thank you. Good morning and good afternoon to everyone joining us for VEON's first-quarter results. My name is Anand Ramachandran, Chief Corporate Development Officer at VEON. Joining me today are our Group CEO, Mr. Kaan Terzioglu, and next to him, our Group CFO, Mr.
Burak Ozer. As usual, Kaan will begin with our strategic and operational highlights, followed by Burak with a review of our financial performance, and we'll then open up the call for Q&A. Before we begin, please note that today's presentation contains forward-looking statements, which involve risks and uncertainties. Further details are available in all our SEC filings, including our Form 20-F. Our earnings release and presentation are available on our Investor Relations website.
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