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VEON Ltd. ADS (symbol: VEON) is a global digital operator providing converged connectivity and internet services to nearly 160 million customers across six dynamic markets, including Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. VEON offers a comprehensive suite of services encompassing voice, fixed broadband, data, and digital solutions under renowned brands such as Beeline, Kyivstar, banglalink, and Jazz.
Headquartered in Amsterdam and listed on NASDAQ and Euronext, VEON is committed to driving the personal internet revolution by transforming lives through technology-driven services that foster digital inclusion and economic growth. The company prides itself on its ability to empower individuals and create opportunities across its footprint, which covers more than 7% of the world's population.
VEON continuously innovates and expands its offerings. For instance, its subsidiary, Beeline Kazakhstan, in collaboration with IT firm QazCode, hosted the 2024 Beetech Conference in Astana. This event highlighted advancements in AI and big data, featuring participation from global tech giants like NVIDIA and local experts. QazCode also unveiled plans to establish the first GPU cloud in Central Asia, enhancing AI product development capabilities in the region.
Another milestone includes Banglalink's strategic phase-out of 3G services in Bangladesh to enhance its 4G network. This move is part of VEON's broader strategy to provide superior digital experiences and support the country's 'Smart Bangladesh Vision 2041'. Banglalink's 4G subscriber base has grown significantly, reflecting the success of this initiative.
VEON's digital entertainment platform, Tamasha in Pakistan, secured streaming rights for major ICC tournaments, catering to the passionate cricket fanbase. Such strategic content acquisitions are integral to VEON's customer engagement and retention strategy.
Financially, VEON has demonstrated robust growth, with a 6.6% year-on-year increase in total revenues for the first quarter of 2024. The company continues to invest in its infrastructure, with a notable 38.6% year-on-year increase in Capex. VEON maintains a strong liquidity position with USD 632 million in cash equivalents as of March 31, 2024.
VEON's leadership, including CEO Kaan Terzioğlu, is focused on executing its digital operator strategy, leveraging new technologies like AI to enhance customer experiences and drive growth. The recent AGM saw the appointment of a new board, including notable figures like former U.S. Secretary of State Michael R. Pompeo, reflecting VEON's commitment to governance and strategic oversight.
For more information, visit www.veon.com.
VEON Ltd. has announced a share award for Group CEO Kaan Terzioğlu, comprising 5,231,771 shares to be issued on 1 October 2022. Out of these, 1,569,531 shares will vest on the grant date, while the remaining 3,662,240 shares will vest on 1 September 2023. Currently, Terzioğlu holds 1,674,900 shares. This award recognizes Terzioğlu's leadership during challenging times and aligns his interests with those of shareholders. The press release includes a disclaimer about forward-looking statements regarding VEON's strategic plans.
VEON Ltd. reported a positive trading update for the first eight months of 2022, showing a 3.1% increase in consolidated revenue year-on-year in reported currency, and 6.5% in local currency. Service revenue grew 4.3% YoY, while EBITDA rose 3.9% YoY. The company generated cash of USD 682 million from its stake in Algerian operator Djezzy, with total cash and deposits reaching approximately USD 3.2 billion. Notably, 4G penetration increased by 16.5%, contributing to operational momentum.
Amsterdam, 15th September 2022: VEON Ltd. (NASDAQ: VEON) has announced three new initiatives from its subsidiary, Mobilink Microfinance Bank, aimed at empowering women entrepreneurs and supporting farmers in Pakistan. These initiatives include low-cost 4G handsets integrated with a digital banking application, e-commerce services for female business owners, and agricultural advisory services targeting farmers. With only 7% of women financially included in Pakistan, this initiative aims to enhance digital participation and economic growth in the country.
VEON Ltd. announces that its Bangladeshi subsidiary, Banglalink, has won the Ookla Speedtest Award for the fastest mobile network in Bangladesh for the third consecutive year. With a Speed Score of 21.56, Banglalink has solidified its position as the top provider of high-speed internet in the country.
Recent expansions include over 3000 sites deployed and a doubled spectrum holding through the acquisition of 40 MHz spectrum. Additionally, Banglalink recorded double-digit revenue growth in Q2 2022, reflecting VEON's commitment to enhancing digital services.
VEON Ltd. has pledged support for Uzbekistan's Digital Uzbekistan 2030 initiative, aimed at establishing the country as a major IT hub in Central Asia. The announcement was made during a meeting between the Prime Minister and VEON's CEO. VEON plans to house its international operations hub at the newly opened IT-Park in Tashkent and facilitate digital education and job opportunities. The company committed $250 million over five years to enhance digital services in Uzbekistan, including expanding 4G connectivity and creating a local IT Academy.
Amsterdam, 30 August 2022: VEON Ltd. (NASDAQ: VEON) has successfully completed a high-speed internet access project for the express rail link between Tashkent and Samarkand in Uzbekistan. Collaborating with the Uzbekistan Ministry of Information Technologies, Beeline Uzbekistan installed around 40 upgraded base stations, ensuring 4G connectivity for residents and tourists. This initiative aims to enhance digital communication, promoting economic growth and tourism in the region, addressing connectivity needs at key locations such as the 'Great Silk Road' centre and Imam al-Bukhari memorial complex.
VEON Ltd. announced that its subsidiary Kyivstar will launch a national digital health service for all Ukrainians as part of the Digital Ukraine strategy. This initiative follows Kyivstar's acquisition of a controlling stake in Helsi Ukraine, Ukraine's largest digital healthcare provider, which serves 24.8 million mobile subscribers. The digital health service aims to enhance access to healthcare for the entire population, including refugees and internally displaced individuals. The partnership seeks to integrate advanced digital healthcare solutions across Ukraine.
VEON Ltd. announces that its Bangladeshi subsidiary, Banglalink, has launched a monetization feature on its digital entertainment platform, Toffee. This initiative allows local content creators, including artists and influencers, to earn revenue from their video content. With over 6.8 million monthly users, Toffee offers access to more than 100 national and international TV programs. The move aligns with VEON’s strategy to enhance customer engagement and promote local economic growth through digital services.
VEON Ltd. has successfully completed the sale of its Djezzy stake, receiving approximately USD 682 million. This sale was part of VEON's strategy to streamline its portfolio, following the announcement made on July 1, 2021. The transaction enhances VEON's liquidity, raising total cash to USD 3.1 billion as of August 4, 2022. CEO Kaan Terzioglu highlighted the strong performance of the Djezzy team and affirmed VEON's focus on emerging markets.
VEON Ltd (VEON) reports robust Q2 2022 results with total revenues of USD 2,008 million, reflecting a 5.6% year-over-year increase. EBITDA reached USD 913 million, up 13.0% YoY, driven by strong performance in mobile data revenue, which grew by 11.6%. The company maintained a healthy liquidity position with total cash and cash equivalents amounting to USD 2.3 billion. Notably, 4G user penetration reached 50% of the customer base, up 6.9 percentage points YoY. Despite challenges in Ukraine and Pakistan, VEON's diversified operations in other countries showed solid growth.
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