VEON Ltd

VEON

Equity

ISIN US91822M5022 / Valor 125240129

NASDAQ (2024-12-24)

USD 37.28-2.25%

VEON Ltd
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About company

VEON Ltd, headquartered in Amsterdam, the Netherlands, is a global digital operator listed on NASDAQ and Euronext Amsterdam, offering investors the opportunity to engage in the growth of emerging markets. Operating under five main brands in Ukraine, Kazakhstan, Kyrgyzstan, Uzbekistan, Pakistan, and Bangladesh, VEON provides a range of digital services to nearly 160 million customers in these dynamic markets. With a focus on converged connectivity and digital services, VEON aims to cater to the diverse needs of its customer base in these regions, which collectively represent 7% of the world's population.

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 a net loss of $360 million in the same period of 2023. This turnaround was largely due to the absence of losses from discontinued operations, which had impacted the previous year's results.

Earnings Per Share

VEON Ltd's basic and diluted earnings per share from continuing operations were $0.03 for the first quarter of 2024, compared to $0.01 in the first quarter of 2023. The total earnings per share, including discontinued operations, were $0.03, down from $0.19 in the previous year.

Cash Flow

In the first quarter of 2024, VEON Ltd generated net cash flows from operating activities of $262 million, up from $237 million in the same period of 2023. This increase was primarily due to improved profitability and better working capital management.

Summarized from source with an LLMView Source

Key figures

87.2%1Y

-10.7%3Y

-42.0%5Y

Performance

30.7%1Y

80.8%3Y

68.3%5Y

Volatility