Financial Data and Key Metrics Changes - VEON reported an 8.3% revenue growth in 2024 in USD terms, exceeding the 8% to 10% growth expectation [8] - EBITDA grew by 4.9% in USD terms, surpassing the 4% to 6% expectation [8] - In local currency terms, revenue growth was 14.6%, exceeding the 12% to 14% expectation, while EBITDA grew by 12%, surpassing the 9% to 11% expectation [9][15] Business Line Data and Key Metrics Changes - Direct digital revenues surged by 63% for the full year, contributing 12.6% of total revenues in Q4 [10][25] - Telecom and Infrastructure segment revenues reached $3.6 billion, growing by 3.8% year on year in USD [18] - The Pakistan business showed the strongest performance with revenues growing 22.7% and EBITDA growing 15.6% in local currency terms [22] Market Data and Key Metrics Changes - Ukraine's revenues grew 13.7% and EBITDA grew 10.3% in local currency terms, recovering from a cyber attack [22][26] - Bangladesh faced significant challenges due to political unrest, but direct digital revenues increased by 66% [36] - Uzbekistan's revenues grew 9.4% in local currency terms, while EBITDA declined by 3.7% due to higher operating expenses [37] Company Strategy and Development Direction - VEON is focused on scaling digital services and has made substantial progress in executing an asset-light strategy [10][53] - The company plans to list Kyivstar on NASDAQ, enhancing visibility and profile [11][30] - VEON aims to continue delivering on its digital operator strategy and explore accretive market opportunities [54][55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 revenue guidance of 12% to 14% in local currency, driven by strong growth in digital services [15][56] - The company is optimistic about the recovery of consumer confidence in Bangladesh and expects significant growth potential in the market [64] - Management acknowledged the impact of macroeconomic conditions but remains bullish about domestic growth and consumer confidence [106] Other Important Information - VEON's net debt to EBITDA ratio improved to 1.3 times, reflecting disciplined debt management [21][52] - The company completed a $100 million share buyback program, with $30 million repurchased in phase one [11][55] - Direct digital revenues are expected to continue growing, with a target of increasing their contribution to total revenues [63] Q&A Session Summary Question: Key drivers behind 2025 guidance and country contributions - Management highlighted direct digital revenues and acquisitions as key growth drivers, with expectations for strong contributions from Ukraine, Pakistan, and Kazakhstan [64] Question: Competition developments in main markets - New competitors are entering markets like Ukraine and Kazakhstan, but VEON is well-positioned as a digital operator [66] Question: Plans for tower assets - Management confirmed ongoing tower assets in various countries and a significant deal with Anglo Corporation for tower sales [68] Question: Use of proceeds from tower deals - Proceeds from tower deals will be used for deleveraging at both local and corporate levels [89] Question: Eurobond market access timeline - Management indicated no immediate plans to return to the Eurobond market but remains open to future opportunities [91] Question: Strategic rationale behind the acquisition of Ooklon - The acquisition is seen as a way to meet unmet demand in frontier markets and integrate ride-hailing services into the digital ecosystem [78] Question: Guidance assumptions regarding Ukraine's political situation - Management remains focused on customer needs and is prepared for various political scenarios in Ukraine [80]

Core Viewpoint - VEON Ltd. is initiating the second phase of its share buyback program, amounting to USD 35 million, as part of a larger USD 100 million program aimed at optimizing shareholder value and strengthening its financial position [1][2]. Group 1: Share Buyback Program - The second phase of the share buyback program follows the completion of the first phase, which was USD 30 million and concluded on January 27, 2025 [2]. - The total share buyback program was approved by VEON's Board of Directors on July 31, 2024, with a maximum amount of USD 100 million [2]. - The buybacks will be executed on the open market under a 10b5-1 plan and in compliance with Rule 10b-18, with decisions influenced by liquidity, market conditions, and legal requirements [3]. Group 2: Company Overview - VEON is a digital operator serving nearly 160 million customers across six countries, representing over 7% of the global population [4]. - The company focuses on technology-driven services that enhance individual empowerment and stimulate economic growth [4]. - VEON is listed on NASDAQ and is headquartered in Dubai [4].

Core Insights - VEON reported a strong financial performance for FY24, achieving an 8.3% year-on-year revenue growth and a 4.9% YoY growth in EBITDA, meeting expectations set in Q3 2024 [3][5] - The underlying revenue growth in local currency terms was 14.6% YoY, surpassing the average inflation rate of 9.3% in its operating countries, indicating effective pricing strategies [4] - Direct digital revenue saw significant growth, increasing by 63.0% YoY in reported currency, contributing to 11.5% of total revenues for the year [5][9] Financial Performance - Total revenue for FY24 reached USD 4,004 million, with EBITDA amounting to USD 1,691 million [9] - Capex increased by 26.9% YoY, with a capex intensity of 20.6%, although excluding Ukraine, it aligned with expectations of 18%-19% [6] - Cash and cash equivalents totaled USD 1,691 million, with net debt to EBITDA ratio improving to 1.34x from 1.52x [6] Quarterly Highlights - In Q4 2024, total revenue grew by 4.7% YoY to USD 998 million, with EBITDA increasing by 11.3% YoY to USD 408 million [10] - Direct digital revenue for Q4 2024 rose by 42.4% to USD 126 million, representing 12.6% of total revenues for the quarter [10] Future Outlook - For FY25, VEON anticipates underlying local currency revenue growth of 12%-14% and EBITDA growth of 13%-15% [11] - The company plans to initiate a second phase of its share buyback program, amounting to up to USD 35 million [11] Strategic Developments - 2024 was marked as a transformative year for VEON, with a significant increase in share price, strategic partnerships, and a shift of headquarters to Dubai [13][14] - The company aims to maintain its position in the digital revolution and continue executing its strategic priorities in 2025 [14]

Kyiv and Dubai, March 19, 2025 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), today announces its wholly-owned subsidiary JSC Kyivstar (“Kyivstar”) has signed an agreement to acquire Uklon group (“Uklon”), a leading Ukrainian ride-hailing and delivery platform. This strategic acquisition marks Kyivstar’s expansion into a new area of digital consumer services in line with VEON’s digital operator strategy. Uklon operates in 27 cities across Ukraine and unites more than 100 thousand driver-par ...

Core Viewpoint - The announcement of a business combination agreement between VEON Ltd. and Cohen Circle Acquisition Corp. I will lead to the listing of Kyivstar, Ukraine's leading digital operator, on the Nasdaq Stock Market, marking a significant milestone for Ukraine's economic future and providing international investors with a unique opportunity to engage with the Ukrainian market [1][4][5]. Company Overview - VEON will retain a minimum of 80% ownership of Kyivstar Group following the business combination, which is expected to close in Q3 2025, pending shareholder approval and customary closing conditions [2][20]. - Kyivstar serves over 24 million customers and is recognized as Ukraine's largest digital operator, providing a range of services including mobile and fixed communication, healthcare platforms, and enterprise solutions [8][10]. Financial Aspects - The transaction assigns a pro-forma valuation of USD 2.21 billion to Kyivstar at the time of closing [8]. - VEON plans to invest USD 1 billion into the development of new telecom technologies in Ukraine from 2023 to 2027 [10]. Strategic Importance - The listing of Kyivstar on Nasdaq is seen as a pivotal moment for Ukraine's economic growth, allowing global investors to support the country's rebuilding efforts [4][6][7]. - Kyivstar's strong financial profile and governance structure are expected to attract international investors as it transitions to a publicly listed company [5][6]. Management Commentary - VEON's leadership emphasizes the resilience and growth potential of Kyivstar, particularly in the context of Ukraine's ongoing recovery and infrastructure rebuilding efforts [6][7]. - The management team of Kyivstar expresses optimism about sharing their growth story with global investors and completing the business combination to facilitate further expansion [6][7].

Dubai and Dhaka, 17 March 2025: VEON Ltd. (NASDAQ:VEON), a global digital operator ("VEON" or the "Group"), today announces that Johan Buse has been appointed as the Chief Executive Officer of Banglalink, VEON's digital operator in Bangladesh, effective 6th April 2025. Johan joins Banglalink from StarHub in Singapore where he led the Consumer Business Group focusing on strategy and business transformation. Prior to that, Johan has decades of experience in the telecom industry across Europe, Asia and the Mid ...

VEON to release 4Q 2024 trading update on 20 March 2025 Dubai, 12 March 2025 – VEON Ltd. (NASDAQ: VEON), a global digital operator, today confirms that the Group will release its selected financial and operating results for the fourth quarter and full year ended 31 December 2024, at or around 10:00 GST (2:00 EST) on 20 March 2025. VEON will also host a results conference call with senior management at 16:00 GST (8:00 EST) on the same day. 4Q24 results conference call To register and access the event, please ...

Core Insights - The article emphasizes the importance of consulting a registered financial advisor before making investment decisions, highlighting that the content is meant for discussion rather than financial advice [2][3] Group 1 - The article clarifies that past performance does not guarantee future results, indicating a need for caution in investment decisions [3] - It notes that the views expressed may not reflect the opinions of the platform as a whole, suggesting a diversity of perspectives among analysts [3] - The article states that the analysts are third-party authors, which may include both professional and individual investors who might not be licensed or certified [3]

Group 1: Company Achievements - VEON Ltd.'s subsidiary, Mobilink Microfinance Bank, won the 'CMO Marketing Campaign' Award at the GSMA Global Mobile (GLOMO) Awards for its Invisible Heirs campaign [1][3] - The Invisible Heirs campaign addresses gender-based financial inequality in Pakistan and includes an inheritance calculator in the Dost mobile app [2][3] - Mobilink Microfinance Bank has previously received recognition for the Invisible Heirs campaign, including the 'Digital Nations Video Creativity Award' at GSMA's M360 Asia-Pacific event in 2024 [3] Group 2: Leadership Statements - Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Microfinance Bank, emphasized the campaign's role in driving societal change and empowering women financially [3] - Haaris Mahmood Chaudhary, President & CEO of Mobilink Microfinance Bank, highlighted the importance of equipping women to claim their inheritance as a step towards reshaping gender equality in Pakistan [3] Group 3: Industry Context - JazzCash, Pakistan's largest fintech, was shortlisted for the GLOMO Awards in the 'Best Fintech Innovation' category for its Tap Pay for Business feature [4] - VEON operates across six countries, providing digital services to nearly 160 million customers, and is committed to economic growth through technology [5]

Group 1 - VEON Ltd.'s subsidiary, Mobilink Microfinance Bank, won the 'CMO Marketing Campaign' Award at the GSMA Global Mobile Awards for its Invisible Heirs campaign, which addresses women's inheritance rights in Pakistan [1][3] - The Invisible Heirs campaign includes an inheritance calculator in the Dost mobile app, enabling women to calculate their rightful inheritance and features a video narrative that raises awareness about the challenges women face [2][3] - Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Microfinance Bank, emphasized the campaign's role in driving societal change and empowering women financially, highlighting VEON's mission to create transformative digital services [3] Group 2 - Haaris Mahmood Chaudhary, President & CEO of Mobilink Microfinance Bank, described the award as a significant step towards enhancing women's financial independence and reshaping gender equality in Pakistan [3] - VEON has a history of success at the GLOMO Awards, with previous recognition for its initiatives, including Kyivstar's award for mobile innovation in humanitarian situations [3] - JazzCash, Pakistan's largest fintech, was also shortlisted for the GLOMO Awards in the 'Best Fintech Innovation' category for its Tap Pay for Business feature [4] Group 3 - VEON operates across six countries, serving nearly 160 million customers and is committed to transforming lives through technology-driven services [5] - Mobilink Microfinance Bank is recognized as Pakistan's leading digital microfinance institution, focusing on financial inclusion and digital transformation, and was awarded 'Best Microfinance Bank' at the Pakistan Banking Awards 2024 [6]