In the fourth quarter of 2024, telecommunications holding VEON received revenue of $998 million, which is 4.7% more than in the same period of 2023, the company reported.
The holding’s EBITDA in the reporting period increased by 11.3% to $408 million. The EBITDA margin amounted to 40.9% compared to 38.5% in the fourth quarter of 2023.
In local currencies, VEON’s revenue increased by 10.3% and EBITDA by almost 19%.
The holding’s telecommunications and infrastructure revenues amounted to $872 million, showing a year-on-year increase of 0.8%.
VEON’s revenues from its business in Ukraine increased by 15.9% and in Pakistan by 18.8%; revenues from its business in Kazakhstan decreased by 7%, in Bangladesh by 18.6% and in Uzbekistan by 6.8%.
The holding’s mobile subscriber base decreased by 2.7% to 152 million in the fourth quarter. The 4G user base grew by 5.3% to 99.2 million.
In the fourth quarter, VEON recorded a net profit of $93 million against a loss of $3.5 billion a year earlier.
As of the end of 2024, VEON’s CAPEX amounted to $826 million, up 27% since 2023. Net debt amounted to $2.9 billion, down 0.5%.
At the end of 2024, VEON’s revenue increased by 8.3% (12.8% in national currencies) to $4 billion. EBITDA amounted to $1.7 billion, showing an increase of 4.9% (10% in local currencies). In 2025, VEON expects to increase its performance in local currencies by 12-14% in terms of revenue and 13-15% in terms of EBITDA.
