VEON Ltd

VEON

Equity

ISIN BMG9349W1038 / Valor 36264455

Euronext - Euronext Amsterdam (2024-11-22)

EUR 1.19+3.49%

VEON Ltd
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About company

VEON Ltd is a global digital operator headquartered in Amsterdam, the Netherlands, and listed on NASDAQ and Euronext Amsterdam. The company operates under five main brands in various countries, including Kyivstar, Beeline, Jazz, and Banglalink, providing digital services to nearly 160 million customers in six dynamic markets. VEON aims to offer converged connectivity and digital services to a significant portion of the world's population, allowing investors worldwide to participate in the growth of these exciting markets.

Summarized from source with an LLMView SourceSector: Telecommunications

Revenue Growth

VEON Ltd reported total operating revenues of $942 million for the first quarter of 2024, an increase from $884 million in the same period of 2023. This growth was driven by higher service revenues and sales of equipment and accessories.

Operating Profit

For the first quarter of 2024, VEON Ltd achieved an operating profit of $201 million, slightly down from $205 million in the first quarter of 2023. The decrease was primarily due to higher selling, general, and administrative expenses.

Net Profit

VEON Ltd reported a net profit of $78 million for the first quarter of 2024, a significant improvement from the net loss of $47 million in the same period of 2023. This turnaround was largely attributed to a reduction in finance costs and a favorable net foreign exchange gain.

Cash Flow

In the first quarter of 2024, VEON Ltd generated $262 million in net cash flows from operating activities, up from $237 million in the first quarter of 2023. This increase was driven by improved working capital management and higher operating income.

Dividends

VEON Ltd did not declare any dividends for the first quarter of 2024. The company continues to focus on strengthening its financial position and investing in growth opportunities.

Summarized from source with an LLMView Source

Key figures

62.3%1Y

-26.4%3Y

-45.1%5Y

Performance

36.3%1Y

67.0%3Y

58.9%5Y

Volatility