VEON Announces Strong Q4 2023 Organic Growth Amidst Continued VEON 2.0 Strategy Execution

VEON Ltd. VEON, a leading provider of fixed line and mobile telecommunications services, headquartered in Amsterdam, the Netherlands, has released its trading update for the fourth quarter of 2023. The figures reveal a robust organic growth with Q4 revenue reaching USD 953 million, marking a 1.4% year-over-year (YoY) increase. Notably, in local currency terms and after normalization, the revenue growth spikes to an impressive 17.9% YoY.

Understanding the Revenue Boost

In the detailed breakdown, it's evident that VEON's strategic initiatives have paid off. While reporting in US dollars shows moderate growth, the local currency figures tell a story of significant market advancements and operational efficiencies that have been driven by the comprehensive VEON 2.0 strategy.

EBITDA Performance Analysis

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) shows a more complex picture. Despite a reported decline of 20.4% YoY in US dollar terms, standing at USD 364 million, the local currency normalized figures present a stark contrast at a 24.9% YoY increment. This indicates sustained profitability and cost management effectiveness when viewed in the context of local market dynamics.

Through meticulous execution of its strategic objectives, VEON continues to strengthen its market position, evidenced by robust organic growth patterns. The discrepancy between US dollar reports and local currency results underscores the importance of understanding the multifaceted nature of international business operations and currency fluctuations.

VEON, revenue, EBITDA