VEON Discloses its 1Q24 Unaudited Interim Condensed Consolidated Financial Statements
VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has released its unaudited interim condensed consolidated financial statements for the three-month period ended 31 March 2024. These financial statements are based on internal management accounts and have not been externally reviewed or audited. VEON emphasizes that the financial information is subject to material variation and should not be overly relied upon. The full financial statements can be accessed on the VEON Group website.
- None.
- VEON’s financial statements have not been externally reviewed or audited.
- The financial information is based on internal management accounts, which may lead to material variations.
- Investors are cautioned not to place undue reliance on the provided financial information.
Insights
VEON Ltd.’s release of its unaudited interim financial statements for 1Q24 offers a glimpse into the company’s current financial health. Given the unaudited nature of these statements, it’s important for investors to approach the data cautiously. The financial statements are based on internal management accounts, meaning they haven't undergone external review or audit. This can sometimes result in discrepancies between reported figures and actual outcomes.
When examining these statements, an investor should focus on key financial metrics such as revenue, net income and cash flow. These elements provide insights into VEON’s operating efficiency and overall financial stability. However, the potential for significant variations in final audited results underscores the need for a conservative approach in interpreting these figures. It's also worth noting that VEON operates in multiple markets, each with unique economic and regulatory environments, which can affect the predictability and stability of its financial outcomes.
A noteworthy aspect for investors is the impact of foreign exchange rates on VEON’s results, given its global operations. Fluctuations in currency values can significantly alter the company’s revenue and profit figures. Additionally, considering VEON's presence in emerging markets, geopolitical risks and regulatory changes could also play a critical role in shaping future financial performances.
From a market perspective, the unaudited financial statements provide preliminary insights into VEON's market positioning and competitive strength. Investors should pay attention to market share and growth rates in key regions to understand how VEON is performing relative to its competitors. Additionally, it would be beneficial to look at ARPU (Average Revenue Per User) and subscriber growth, as these metrics offer a clearer picture of the company's operational success and customer retention capabilities.
Given the importance of digital services in VEON’s portfolio, monitoring the performance of their digital initiatives can highlight growth potential and strategic direction. This segment often exhibits higher margins compared to traditional connectivity services, thus representing a important area for future profitability.
Though caution is advised due to the unaudited nature of the data, these financial statements can be used alongside other market indicators to gauge VEON's strategic effectiveness and potential investment value. Investors should also consider the broader industry trends and economic conditions in the regions where VEON operates, as these factors will influence future performance.
Amsterdam, 26 June 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, following the release of its 1Q24 trading update on 16 May 2024, today discloses unaudited interim condensed consolidated financial statements as of and for the three-month period ended 31 March 2024 (the “Financial Statements”). The Financial Statements are available on the VEON Group website at https://www.veon.com/investors/
Notice to reader
VEON’s financial statements referred to in this press release and published on the website today are, unless otherwise stated, based on IFRS and have not been externally reviewed and audited. The financial information presented in the financial statements is based on internal management accounts, is the responsibility of management and has not been externally audited, reviewed or verified. Although we believe the information to be reasonable, actual results may vary from the information contained above and such variations could be material. As such, you should not place undue reliance on this information. This information may not be indicative of the actual results for the quarter or any future period.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
Disclaimer
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s strategy and investment plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. Furthermore, elements of this release contain or may contain, “inside information” as defined under the Market Abuse Regulation (EU) No. 596/2014.
Contact
VEON
Hande Asik
Group Director of Communications
pr@veon.com
Investor Relations
Faisal Ghori
ir@veon.com
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