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VEON Q1 Sales $942M Up From $884M YoY, EBITDA $386M Up From $385M YoY

Benzinga ·  May 16 02:23

VEON Q1 2024 Highlights

  • Q1 revenue of USD 942 million, +6.6% YoY (+11.6% YoY in local currency) and EBITDA of USD 386 million, +0.2% YoY (+5.1% YoY in local currency)
  • Q1 capex of USD 125 million, +38.6% YoY, with LTM capex intensity of 18.3%
  • Total cash and cash equivalents of USD 632 million, with USD 261 million at HQ; and gross debt at USD 3.7 billion (decreased by USD 2.0 billion YoY), with net debt excluding lease liabilities at USD 2.0 billion; VEON repaid its Revolving Credit Facility
  • Maintaining FY 2024 revenue growth guidance in local currency of 16-18%, EBITDA growth guidance in local currency of 18-20%, and capex intensity of 18-19%
  • VEON management increases share ownership; announces its 2024 Annual General Meeting and Capital Markets Day
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