The following is a summary of the VEON Ltd. (VEON) Q1 2024 Earnings Call Transcript:

Financial Performance:

• VEON reported a Q1 2024 year-over-year growth in US dollar revenue by 6.6%, 15% excluding the impact from Ukraine.

• Local currency growth across operations also increased to 20.5%.

• EBITDA exhibited a growth rate of 5% year-on-year in Q1 2024, which increased to 16% upon excluding the Ukraine factor.

• The company maintains a robust cash position of $632 million with $261 million held at the headquarters.

Business Progress:

• In Ukraine, they have effectively neutralized a major cyberattack's impact, returning to a double-digit growth as early as April 2024.

• The company observed increased growth in markets like Kazakhstan and Pakistan of up to 25.7%.

• 4G user base grew by 11%, and 4G penetration rate increased by 6 percentage points to 62%, aiming for 70%.

• Their entertainment platform 'Tamasha' reported substantial growth with up to 12 million monthly active users – a twofold increase year-on-year.

• Financial services in Pakistan continue to thrive profitably, with the gross loan portfolio of Mobilink Bank expanding by 20%.

• For FY 2024, guidance is retained: 16% - 18% revenue growth, 18% - 20% EBITDA growth, and a 12-month capex intensity of 18% - 19%.

More details: VEON Ltd IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.