Core Insights - VEON reported a total revenue growth of 8.9% year-on-year to USD 1,026 million for Q1 2025, with underlying local currency growth at 12.9% [2][9] - EBITDA increased by 13.7% year-on-year to USD 439 million, with a 10.4% increase in underlying local currency terms [4][9] - Direct digital revenue grew significantly by 50.2% year-on-year to USD 147 million, representing 14.3% of total revenues for the quarter [4][9] Financial Performance - The company achieved a year-on-year revenue growth of 8.9% in reported currency and 12.9% in local currency, adjusted for the impact of a cyberattack in Ukraine and the deconsolidation of TNS+ in Kazakhstan [2][3] - EBITDA for the quarter was USD 439 million, reflecting a 13.7% increase in reported currency and a 10.4% increase in underlying local currency terms [4][9] - Total cash and cash equivalents as of March 31, 2025, amounted to USD 1,775 million, with net debt to LTM EBITDA declining to 1.23x [5][9] Capital Expenditure and Outlook - Capex increased by 8.3% year-on-year, with a capex intensity of 13.1% [5] - The company maintains its FY25 outlook, expecting underlying local currency revenue growth of 12% to 14% and EBITDA growth of 13% to 15% [6] Share Buyback Program - VEON commenced the second phase of its share buyback program in March 2025, amounting to up to USD 35 million, following the completion of the first phase [7] Strategic Focus - The company emphasizes disciplined execution and innovation, aiming to enhance customer experiences through technology-driven services [10][11]

Core Insights - VEON Ltd. has partnered with GSMA Advance to become the inaugural member of the People Excellence Partner program, emphasizing its commitment to employee upskilling and knowledge advancement [1][2] - The partnership will provide VEON employees access to a variety of learning courses, enabling them to achieve certifications in critical areas such as 5G, IoT, mobile privacy, and regulatory best practices [3][4] - This initiative aligns with VEON's strategic move to Dubai, aiming to leverage the local talent pool and enhance its workforce capabilities in high-tech disciplines [4] Company Overview - VEON is a digital operator serving nearly 160 million customers across six countries, representing over 7% of the global population, and focuses on technology-driven services that promote economic growth [5] - The company is listed on Nasdaq and is dedicated to transforming lives through its digital services [5] GSMA Overview - GSMA represents the interests of mobile operators globally, uniting over 750 operators and nearly 400 companies in the mobile ecosystem [5] - The organization is known for hosting major industry events, including the Mobile World Congress (MWC) and the Mobile 360 Series [5]

Core Points - VEON Ltd. held its Annual General Meeting (AGM) in New York City, where shareholders approved the slate of seven directors for the incoming Board of Directors [1][2] - The Board re-elected Augie K Fabela II as Chairman for a second term, emphasizing the commitment to accelerate growth in dynamic frontier markets through AI-enabled digital services and cutting-edge technologies [2][3] - Approximately 99.5% of VEON Ltd. shares were represented at the AGM, where shareholders approved the re-appointment of UHY LLP as external auditor for the financial year ending December 31, 2025 [3] Company Overview - VEON is a Nasdaq-listed digital operator providing connectivity and digital services to nearly 160 million customers across six countries, impacting over 7% of the world's population [4]

Core Insights - VEON Ltd. has announced a partnership between its Kazakh software development company QazCode and AI technology provider Seekr to develop AI-powered B2B solutions [1][3] - The collaboration aims to integrate SeekrFlow, an end-to-end enterprise AI platform, into QazCode's operations to enhance the development of generative AI applications [2][4] Company Developments - QazCode aims to become a leading developer of AI applications both in Kazakhstan and internationally, leveraging Seekr's expertise in AI technologies [3][5] - The partnership will enhance QazCode's offerings to enterprise customers and facilitate AI adoption across business services [3][4] Product Innovations - QazCode has launched several AI products, including KazLLM, which has versions with 8 billion and 70 billion parameters, and the open-source Kaz-RoBERTA conversational model with 2 billion parameters [5][6] - KazLLM received the GSMA Foundry's Artificial Intelligence Award at Mobile World Congress in February 2025, highlighting its significance in the AI landscape [6] Company Background - Beeline Kazakhstan serves 11 million mobile customers and 2 million fixed internet customers, having developed an ecosystem of 60 digital products since 2018 [8] - QazCode, with a team of 750, specializes in creating private Large Language Models (LLMs) and offers IT outsourcing services [9] Industry Context - The global trend shows enterprises increasingly adopting augmented intelligence to gain competitive advantages, indicating a growing market for AI solutions [3]

Core Viewpoint - VEON Ltd. will release its financial and operational results for Q1 2025 on May 15, 2025, at 8:00 GST (0:00 EST) [2] Group 1: Financial Results Announcement - The trading update will cover selected financial and operating results for the first quarter ended March 31, 2025 [2] - A conference call with senior management will take place on the same day at 16:00 GST (8:00 EST) [2] Group 2: Conference Call Participation - Registration for the results conference call can be done through a provided link, and confirmation will be sent via email [3] - Participants can choose to join via webcast or dial-in for the conference call [4] Group 3: Q&A Session - Shareholders can submit and upvote questions for management through a Q&A platform starting May 8, 2025 [8] - The Q&A platform will remain open until 24 hours before the conference call [8] - Questions can also be submitted to VEON Investor Relations via email prior to the event [8] Group 4: Company Overview - VEON is a digital operator serving nearly 160 million customers across six countries, impacting over 7% of the world's population [10] - The company focuses on technology-driven services that empower individuals and drive economic growth [10]

[Filing Overview](index=1&type=section&id=Filing%20Overview) This section provides an overview of the Form 6-K filing by VEON Ltd., detailing its identification, included information, exhibit index, and official signatures [Report Identification](index=1&type=section&id=Report%20Identification) This section identifies the document as a Form 6-K report filed by VEON Ltd. for the month of April 2025, indicating its status as a foreign private issuer - The filing is a Form 6-K, a report of a foreign private issuer[1](index=1&type=chunk) - The registrant is VEON Ltd., with Commission File Number 1-34694[1](index=1&type=chunk) - The report covers the month of April 2025[1](index=1&type=chunk) [Information Contained in this Report](index=2&type=section&id=Information%20Contained%20in%20this%20Report) This section states that the report furnishes a press release issued on April 25, 2025, as Exhibit 99.1 - A press release dated April 25, 2025, is furnished as Exhibit 99.1[3](index=3&type=chunk) [Exhibit Index](index=3&type=section&id=Exhibit%20Index) The Exhibit Index confirms that Exhibit 99.1 is the Press Release dated April 25, 2025 - Exhibit 99.1 is described as a 'Press Release, dated April 25, 2025'[5](index=5&type=chunk) [Signatures](index=4&type=section&id=Signatures) The report was duly signed on behalf of VEON LTD. by A. Omiyinka Doris, Group General Counsel, on April 25, 2025 - The report was signed by A. Omiyinka Doris, Group General Counsel[6](index=6&type=chunk) - The signing date for the report was April 25, 2025[6](index=6&type=chunk)

Financial Performance - Net Debt is calculated as the sum of interest-bearing long-term and short-term debt minus cash and cash equivalents, providing insight into the company's financial position [27]. - Mobile average revenue per user (ARPU) is calculated by dividing mobile service revenue by the average number of mobile customers during the period [31]. - The company expects improvements in Average Revenue Per User (ARPU) and future costs and operating results [53]. Operational Segments - VEON's reportable segments include Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan, with Kyrgyzstan reported separately under "Other" [28]. - The company presents capital expenditures excluding licenses and right-of-use assets, which include spending on equipment, new construction, and upgrades [26]. User Engagement - The number of 4G users is a key performance indicator, reflecting mobile customers engaged in revenue-generating activities over the 4G network [30]. - Digital services monthly active users (MAUs) represent the total active users across all digital products and services offered by VEON [32]. Market and Industry Insights - Market and industry data is sourced from regulatory publications and third-party studies, with mobile penetration rates defined as mobile connections divided by population [38]. - The company anticipates changes in competitive strengths, customer demands, and market trends in its operating industries [53]. Risks and Challenges - The ongoing war in Ukraine poses risks to the company's operations, including economic conditions and supply chain disruptions [49]. - Forward-looking statements in the report are based on management's estimates and are subject to various risks and uncertainties [47]. - The company is aware of potential adverse legislative and regulatory developments that could impact profitability [53]. - The company has outlined various risks in its Annual Report on Form 20-F that could affect its performance [53]. Strategic Initiatives - The company aims to expand its product offerings, including 4G and 5G networks, broadband services, and digital services in various sectors [49]. - The company plans to enhance marketing and distribution strategies, including customer loyalty programs [53]. - The company emphasizes the importance of meeting license requirements and obtaining regulatory approvals for operations [53]. - The company recognizes the importance of retaining key personnel for its operations [53].

Core Points - VEON Ltd. has filed its Annual Report on Form 20-F for the year ended December 31, 2024, with the U.S. Securities and Exchange Commission [1] - The filing indicates progress in transparency, operational discipline, and long-term value creation, as stated by the Group CEO Kaan Terzioglu [2] - The 2024 20-F report is available on the company's website, and shareholders can request a hard copy free of charge [3] Company Overview - VEON is a Nasdaq-listed digital operator providing connectivity and digital services to nearly 160 million customers across six countries [4] - The company operates in regions that account for over 7% of the world's population, focusing on technology-driven services that empower individuals and drive economic growth [4]

Core Insights - VEON Ltd. published its 2024 Integrated Annual Report, highlighting strong operational and financial performance along with a commitment to social impact [1][2][3] Financial Performance - Group revenues for FY24 increased by 8.3% year-on-year, while Group EBITDA grew by 4.9% year-on-year in reported currency [13] - Direct revenues from digital services accounted for 11.5% of total revenues, growing at a rate of 63% year-on-year in reported currency [13] Digital Transformation and AI Initiatives - VEON served 122 million total monthly active users across its digital services portfolio by the end of 2024, providing access to financial services, digital information, entertainment, healthcare, and learning opportunities [4] - The company launched AI-based solutions, including Kaz-LLM, a large language model in Kazakhstan, as part of its AI1440 ambition to augment human capabilities [5] Commitment to Ukraine - VEON and Kyivstar committed USD 1 billion in investments from 2023 to 2027 to rebuild Ukraine's digital infrastructure and expand essential digital services [6] - Key milestones included partnerships for satellite-based services and enhancing energy resilience [6] Energy Efficiency and Sustainability - The number of Base Transceiver Stations (BTS) using power-saving technology increased from approximately 63,000 in 2023 to 70,000 in 2024 [7] - The number of base stations powered by renewable energy rose from 993 in 2023 to 1,085 in 2024, while overall energy consumption in offices decreased by nearly 28% [7] Governance and Corporate Structure - VEON streamlined its governance by consolidating trading in its shares to the Nasdaq Stock Market and relocating its headquarters to the Dubai International Financial Center [9][10] Investment in Human Capital - The company invested USD 4.4 million in employee training and development in 2024, up from USD 2.6 million in 2023 [11] - Initiatives to support women's inclusion in the workforce were launched, with significant increases in women's representation in leadership roles across various countries [12]

Dubai, April 8, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator, has successfully completed the reorganization of VEON Holdings B.V. and finalized its consent solicitation process, first announced on January 13, 2025. These steps pave the way for the proposed business combination with Cohen Circle Acquisition Corp. I, which is expected to lead to Kyivstar Group Ltd., the parent company of Ukraine’s leading digital operator Kyivstar, listing on the Nasdaq under the ticker symbol KYIV. The reorganiz ...