- VEON press release (NASDAQ:VEON): Q1 Revenue of $942M (+6.6% Y/Y).
- EBITDA of $386 million represented a 0.2% Y/Y increase in reported currency terms (+5.1% Y/Y in local currency).
- Capex in 1Q24 was $125 million, an increase of 38.6% Y/Y, and reported capex intensity for the last twelve months was 18.3% (-2.0p.p. Y/Y).
- Total cash and cash equivalents as of 31 March 2024 amounted to $632 million (excluding cash related to banking operations in Pakistan) with $261 million held at the headquarters level.
- For FY 2024, VEON maintains its full-year guidance for revenue and EBITDA of 16%-18% and 18%-20% growth in local currency supported by execution of its digital operator strategy, and for Group capex intensity of 18%-19%.
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