VEON Publishes 2023 Integrated Annual Report

Rhea-AI Summary

VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has published its 2023 Integrated Annual Report, highlighting the company's performance across financial, social, environmental, and governance metrics. Key achievements include:

- Expanded 4G coverage, with 60% of mobile customers on 4G by end of 2023
- Provided digital services in finance, entertainment, healthcare, and education
- Invested in employee training, averaging 40 hours per employee
- Increased share of senior female leaders
- Reduced Scope 1 and 2 CO2 emissions by 14% year-on-year
- Decreased total energy consumption by 0.4% despite 21% increase in data usage

VEON aims to continue driving sustainable growth through digitalization and AI-based solutions, focusing on financial inclusion and bridging the AI gap in its markets.

Positive

• Expanded 4G coverage, with 60% of mobile customers on 4G by end of 2023
• Reduced Scope 1 and 2 CO2 emissions by 14% year-on-year
• Decreased total energy consumption by 0.4% despite 21% increase in data usage
• Invested in employee training, averaging 40 hours per employee
• Increased share of senior female leaders

Negative

• None.

Amsterdam, 29 July 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (“VEON” or “the Company”, and together with its subsidiaries the “Group”), announces that today it has published its 2023 Integrated Annual Report (IAR), showcasing the Company’s performance across financial, social, environmental and governance metrics.

“Our 2023 Integrated Annual Report highlights more than just our solid financial performance in 2023 – it details how VEON is creating value for all its stakeholders with its focus on material topics like digital infrastructure, financial and digital inclusion, developing human and intellectual capital, building social capital and preserving the environment. We will continue to be a force for sustainable growth, leveraging the power of digitalization, and focusing on providing the services that our markets need in financial inclusion, entertainment, healthcare and education. We have also started deploying AI-based solutions to augment human capabilities and will strive towards bridging the AI gap,” said Kaan Terzioglu, Group CEO of VEON.

During 2023, VEON’s operating companies across Pakistan, Ukraine, Kazakhstan, Bangladesh and Uzbekistan facilitated digital inclusion in their respective markets by: expanding 4G coverage and increasing the share of 4G customers in their user base – which accounted for 60% of VEON’s mobile customers at the end of 2023; serving consumers and enterprises with digital services and products that respond to the needs of each market in digital financial services, digital entertainment, healthcare and education; and contributing to digital and financial literacy and empowerment through community programs. 

The Group’s investments in human and intellectual capital included an average of 40 hours of training per employee and increasing the share of senior female leaders. The Group also invested heavily in local talent, including local hirings into senior management positions, employee upskilling programs and support for social initiatives geared towards local talent building and retention. Throughout 2023, the Group provided more than 1,200 educational institutions with free or subsidised internet access. Educational events on entrepreneurship organised by VEON’s operating companies were attended by over 2,800 people in 2023.

VEON is actively engaged in developing and implementing solutions to improve its environmental footprint. During 2023, the Group’s total Scope 1 and Scope 2 CO2 emissions decreased by 14% year-on-year, and total energy consumption declined by 0.4% year-on-year despite the 21% increase in the total data consumption on our networks, thanks in part to investments in power-efficient telecommunications infrastructure, infrastructure sharing and rising use of renewable energy sources to power networks.

For more details on VEON’s financial performance in 2023, please refer to the Company’s previously disclosed preliminary results for the fiscal year ended 31 December 2023, which are available on the Company’s website. The FY 2023 financial performance presented in VEON’s preliminary results and in the IAR is, unless otherwise stated, based on IFRS and has not been externally audited or reviewed.

For detailed insights into the Group's sustainability performance in 2023, please visit VEON's 2023 Integrated Annual Report on the company's website: https://www.veon.com/investors#tab-item-104 

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 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth.  Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext. For more information visit: www.veon.com

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 financial, operational and ESG 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 even 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.

Contact Information 

VEON
Hande Asik 
Group Director of Communications
pr@veon.com

 

FAQ

What were VEON's key achievements in its 2023 Integrated Annual Report?

VEON's 2023 Integrated Annual Report highlighted expanded 4G coverage (60% of mobile customers), reduced CO2 emissions (14% year-on-year), decreased energy consumption (0.4%), increased employee training (40 hours average), and a higher share of senior female leaders.

How did VEON (VEON) perform in terms of environmental sustainability in 2023?

VEON reduced its Scope 1 and 2 CO2 emissions by 14% year-on-year and decreased total energy consumption by 0.4% despite a 21% increase in data usage, thanks to investments in power-efficient infrastructure and renewable energy sources.

What digital services did VEON focus on in 2023?

In 2023, VEON focused on providing digital services in financial inclusion, entertainment, healthcare, and education across its operating markets in Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan.

How did VEON (VEON) support digital inclusion in 2023?

VEON supported digital inclusion by expanding 4G coverage, increasing the share of 4G customers to 60% of its mobile user base, offering market-specific digital services, and contributing to digital and financial literacy through community programs.