VEON Ltd. Q3 Revenue Up 3.1%, EBITDA Down 1.8%
Ticker: VEON · Form: 6-K · Filed: Nov 14, 2024 · CIK: 1468091
Sentiment: mixed
Topics: trading-update, revenue, ebitda, emerging-markets
TL;DR
VEON's Q3 revenue hit $1.15B (+3.1%), but EBITDA dipped to $446M (-1.8%) on Pakistan currency woes.
AI Summary
VEON Ltd. issued a trading update on November 14, 2024, for the third quarter ending September 30, 2024. The company reported a 3.1% increase in revenue to $1.15 billion, driven by strong performance in Pakistan and Bangladesh. However, EBITDA decreased by 1.8% to $446 million due to currency depreciation in Pakistan.
Why It Matters
This update provides insight into VEON's operational performance and financial health in key emerging markets, impacting investor sentiment and future growth prospects.
Risk Assessment
Risk Level: medium — The company operates in emerging markets with currency volatility and geopolitical risks, as evidenced by the EBITDA decline due to Pakistani currency depreciation.
Key Numbers
- $1.15B — Q3 Revenue (Increased by 3.1% driven by Pakistan and Bangladesh.)
- $446M — Q3 EBITDA (Decreased by 1.8% due to Pakistani currency depreciation.)
Key Players & Entities
- VEON Ltd. (company) — Registrant
- VimpelCom Ltd. (company) — Former name of VEON Ltd.
- November 14, 2024 (date) — Date of trading update issuance
- September 30, 2024 (date) — End of reporting period for Q3
- $1.15 billion (dollar_amount) — Q3 Revenue
- 3.1% (percentage) — Q3 Revenue increase
- $446 million (dollar_amount) — Q3 EBITDA
- 1.8% (percentage) — Q3 EBITDA decrease
- Pakistan (location) — Market with strong performance and currency depreciation
- Bangladesh (location) — Market with strong performance
FAQ
What was VEON Ltd.'s total revenue for the third quarter of 2024?
VEON Ltd.'s total revenue for the third quarter ending September 30, 2024, was $1.15 billion.
What was the percentage change in VEON Ltd.'s revenue for Q3 2024?
VEON Ltd.'s revenue increased by 3.1% for the third quarter of 2024.
What was VEON Ltd.'s EBITDA for the third quarter of 2024?
VEON Ltd.'s EBITDA for the third quarter ending September 30, 2024, was $446 million.
What caused the decrease in VEON Ltd.'s EBITDA in Q3 2024?
The decrease in EBITDA was due to currency depreciation in Pakistan.
Which markets contributed to VEON Ltd.'s revenue growth in Q3 2024?
Pakistan and Bangladesh were the key markets contributing to VEON Ltd.'s revenue growth in Q3 2024.
Filing Stats: 247 words · 1 min read · ~1 pages · Grade level 9.4 · Accepted 2024-11-14 08:07:26
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SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. VEON LTD. (Registrant) Date November 14, 2024 By s A. Omiyinka Doris Name A. Omiyinka Doris Title Group General Counsel