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VEON 5-Month EBITDA Down, Revenues Rise - Quick Facts

(RTTNews) - VEON Ltd. (VEON), a Dutch provider of connectivity and digital services, Wednesday reported that its EBITDA, a key earnings metric, for the first five months of 2022, dropped 2 percent on a reported basis, but grew 5.4 percent in local currencies. EBITDA normalised increased 7.3 percent. Consolidated revenue grew 1.3 percent on a reported basis and 8.7 percent in local currency. The company noted that six of the eight countries reported double-digit local currency revenue growth for the period. EBITDA normalised in Ukraine and Kazakhstan is related to employee support and the extraordinary charitable donations in the first quarter. Group CEO Kaan Terzioglu said, "...our operations are growing their subscriber base, improving their user engagement, reducing churn, increasing their ARPU levels and gaining market share." The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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