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 - VEON Ltd. announces the acquisition of Uklon group, a leading Ukrainian ride-hailing and delivery platform, by its subsidiary Kyivstar, marking an expansion into digital consumer services and reinforcing confidence in Ukraine's digital growth potential [1][4][7]. Company Overview - VEON is a global digital operator serving nearly 160 million customers across six countries, focusing on technology-driven services that empower individuals and drive economic growth [9]. - Kyivstar is Ukraine's largest digital operator, with over 23 million mobile subscribers and more than 1.1 million Home Internet fixed line customers as of December 2024 [10]. - Uklon, founded 15 years ago, is the largest ride-hailing player in Ukraine, operating in 27 cities and uniting over 100,000 driver-partners [2][11]. Acquisition Details - Kyivstar will acquire 97% of Uklon shares for a total consideration of USD 155.2 million, with Uklon CEO Serhii Hryshkov expected to remain in his position [3]. - The acquisition is subject to customary closing conditions and approvals [3]. Strategic Importance - The acquisition is seen as a strategic investment in Ukraine's digital economy, complementing Kyivstar's existing digital services such as Helsi and KyivstarTV [4]. - Uklon has facilitated over 100 million rides and more than 3 million deliveries in 2024, indicating its significant market presence [2]. Future Prospects - VEON plans to explore the expansion of Uklon's capabilities beyond Ukraine and Uzbekistan, leveraging its digital operators in Kazakhstan, Pakistan, and Bangladesh [4]. - VEON has committed to investing USD 1 billion in Ukraine's digital future between 2023 and 2027, including partnerships to enhance connectivity [7]. Market Position - Uklon is recognized as a technology pioneer in ride-hailing and has successfully entered the delivery business, showcasing rapid organic development [6]. - The acquisition is expected to enhance Kyivstar's ability to offer digital experiences to millions of Ukrainians [5].

Core Viewpoint - VEON Ltd. and Cohen Circle Acquisition Corp. I have signed a business combination agreement that will lead to the listing of JSC Kyivstar on the Nasdaq Stock Market, marking a significant milestone for Ukraine's economic future and providing international investors with access to the Ukrainian market [1][4][5]. Company Overview - Kyivstar is Ukraine's largest digital operator, serving over 24 million customers with fixed and mobile communication services [8][10]. - The company has a strong consumer digital service portfolio, including a healthcare platform with over 28 million registered patients and a streaming platform with 2 million monthly active users [8]. - Kyivstar plans to invest USD 1 billion into new telecom technologies in Ukraine from 2023 to 2027 [10]. Business Combination Details - Following the business combination, Kyivstar Group will be listed on Nasdaq under the ticker symbol KYIV, with VEON retaining a minimum of 80% ownership [2]. - The transaction assigns a pro-forma valuation of USD 2.21 billion to Kyivstar at closing [8]. - The business combination is expected to close in Q3 2025, pending shareholder approval and customary closing conditions [2][20]. Management Commentary - VEON's Chairman emphasized that Kyivstar's listing will be a defining moment for Ukraine's economic future and a unique opportunity for global investors [4]. - The CEO of VEON highlighted Kyivstar's strong financial profile and governance structure, which are expected to attract international investors [5]. - Kyivstar's CEO noted the company's resilience during the war and its commitment to rebuilding Ukraine's infrastructure [6]. Advisors - Rothschild & Co is acting as the lead financial advisor to VEON, while BTIG, LLC and Cantor Fitzgerald & Co. are also involved as capital markets advisors [9].

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]