Strong Financial Performance
VEON's revenues increased by 5.9% year-on-year in U.S. dollars and EBITDA grew by 13.2% in U.S. dollar terms. In local currency terms, revenues grew by 11.2% and EBITDA by 19.6%.
Digital Revenue Surge
Direct digital revenues grew by 57% year-on-year in dollar terms, now contributing 16.5% of total group revenues. Financial services account for 57% of total digital revenue.
Strategic Partnerships and Expansions
Closed strategic infrastructure pooling partnership with Engro in Pakistan and made progress on direct-to-cell satellite communications in Ukraine in partnership with Starlink.
Successful Share Buyback
Completed the third and final phase of a $100 million share buyback program, acquiring close to 3% of shares.
Uklon Acquisition
Uklon contributed $21.7 million in revenue and $9.3 million in EBITDA for the quarter, marking a strategic milestone in digital expansion.