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]

Core Insights - SoftServe has been recognized as NVIDIA's Partner Network 2025 Partner of the Year for service delivery in the Americas, highlighting its significant contributions to enterprise AI adoption through Generative AI solutions built with NVIDIA Blueprints [1][2][3] Group 1: Awards and Recognition - The award reflects SoftServe's impact in accelerating enterprise deployments using NVIDIA AI Enterprise and NVIDIA Omniverse, with a focus on custom NVIDIA Blueprints and the introduction of the SoftServe QA Agent as the eighth solution in its Generative AI series [2][4] - SoftServe has previously received accolades, including the 2024 Consulting Partner of the Year for EMEA and the 2023 Outstanding Impact Partner of the Year, showcasing its strong support within the NVIDIA ecosystem [3] Group 2: Company Mission and Expertise - SoftServe's CEO emphasized that the award is a testament to the company's mission to ensure customer and partner success, achieved through hard work and collaboration with NVIDIA [3] - The global NPN Program provides partners with the necessary expertise to develop and deploy energy-efficient accelerated computing solutions for demanding machine learning and AI workloads [3] Group 3: Industry Context - Businesses are increasingly seeking trusted partners with proven expertise in delivering seamless AI experiences, and SoftServe has demonstrated broad capabilities in deploying tailored applications using NVIDIA technologies [4] - The announcement of the awards took place during NVIDIA's GTC 2025 conference, where SoftServe showcased its latest solutions, including the Gen AI Retail Shopping Assistant [4]

Financial Data and Key Metrics Changes - Revenue for FY 2023-2024 was INR 35,634 million, an increase of 7% compared to the previous year [14] - EBITDA for the same period was INR 6,756 million, also reflecting a 7% increase year-over-year [14] - Profit before tax decreased by 77% to INR 232 million, while profit after tax saw a significant decline of 93% to INR 49 million [14] Business Line Data and Key Metrics Changes - Revenue from data center colocation services grew by 9% year-over-year [12] - Revenue from digital services decreased by 1% compared to the previous year [12] - Revenue from network-centric services increased by 10% over the last year [12] - The revenue split among business lines was 31% from data center colocation, 28% from digital services, and 41% from network services [12] Market Data and Key Metrics Changes - As of March 31, 2024, the company operated 1,033 fiber nodes, a 16% increase from the same quarter last year [13] - The company has deployed 7,835 contracted LDR and service points across the country [13] Company Strategy and Development Direction - The company is focused on expanding its data center presence and increasing capacity at existing facilities to meet demand [15] - There is a commitment to fortifying network infrastructure and cloud interconnectivity [15] - The company aims to enhance its workforce capabilities and competencies to drive innovation and efficiency [16] Management's Comments on Operating Environment and Future Outlook - The management highlighted the positive business environment in India, which is attracting international investments and partnerships [9] - The outlook for digital services is optimistic, with deeper customer engagements expected to yield results in the near future [25] - The company believes that AI and ML activities are significant demand drivers, independent of regulatory changes like the data privacy law [29] Other Important Information - The company has invested a cumulative total of $7.22 million in startups in Silicon Valley as part of its corporate venture capital initiative [13] - The cash balance at the end of the fiscal year was INR 5,835 million [16] Q&A Session Summary Question: Rationale behind the proposed rights offering - The rights offering aims to finance data center expansion and invest in digital services growth, engaging existing shareholders in the next growth phase [19] Question: Projected CapEx for the coming fiscal year - Projected CapEx will be similar to the last two years, averaging around INR 1,400 crores [20] Question: Data center roadmap and new facilities - Two greenfield projects are set to go live in Fiscal 2025, one in Noida and another in Chennai, with additional capacity planned for Mumbai [21][22] Question: Current operational status of Tower 5 in Mumbai - The Tower 5 facility has a total capacity of 38 megawatts, with nearly two-thirds expected to be occupied by the end of March 2025 [23] Question: Performance of network services in the last quarter - The network business showed organic growth, with continued investments planned for expanding network infrastructure [24] Question: Factors driving the decline in digital services - The decline was attributed to lower integration service projects, while cloud and network managed services continue to scale [26] Question: Status of the data privacy law - The data privacy law has been announced but is not yet effective; rules are expected to be issued after the new government is formed [28] Question: Impact of the data privacy law on business - The company believes that data center and network growth are driven more by AI and ML activities than by regulatory changes [29]