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Dec 31, 2024
VEON Q4 2024 Earnings Report
VEON reported its Q4 2024 earnings with solid revenue and EBITDA growth, despite geopolitical and macroeconomic challenges in several markets.
Key Takeaways
In Q4 2024, VEON achieved total revenues of $998 million, representing a 4.7% year-over-year increase. EBITDA grew to $408 million, up 11.3% from the previous year. The company reported a net profit of $93 million for the quarter. Strong direct digital revenue growth and increased 4G user penetration were key performance drivers.
Total revenue increased by 4.7% YoY to $998 million.
EBITDA rose by 11.3% YoY, reaching $408 million.
Net profit for the period was $93 million, a significant recovery from last year’s loss.
Direct digital revenue grew 42.4% YoY, reaching $126 million.
VEON
VEON
VEON Revenue by Segment
VEON Revenue by Geographic Location
Revenue by Segment
Telecom & Infra Revenue
CapyFin.comDirect Digital Revenue
CapyFin.comRevenue by Geographic Location
Pakistan Revenue
CapyFin.comUkraine Revenue
CapyFin.comKazakhstan Revenue
CapyFin.comBangladesh Revenue
CapyFin.comUzbekistan Revenue
CapyFin.com Forward Guidance
VEON expects underlying local currency revenue growth between 12% and 14%, and underlying EBITDA growth of 13%-15% for FY 2025, with a capex intensity between 17%-19%.
Positive Outlook
- Anticipated 12%-14% revenue growth in local currency for FY 2025.
- Projected EBITDA growth between 13%-15%.
- Capex intensity expected to remain efficient in the range of 17%-19%.
- Continued expansion of direct digital services and monetization.
- Strong growth in multiplay customers driving higher ARPU and lower churn.
Challenges Ahead
- Geopolitical risks in key markets such as Ukraine and Bangladesh.
- Macroeconomic headwinds and currency volatility could impact profitability.
- Increased competition across digital and telecom sectors.
- Higher network investments could pressure short-term margins.
- Potential regulatory changes in operating regions may affect operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income