VEON Q3 2024 Highlights: A Closer Look at the Financial Results
Amsterdam and Dubai, 14 November 2024 07:00AM CET
VEON, a global digital operator, has recently announced its financial results for the third quarter of 2024. Let’s delve into the key highlights:
Q3 Total Revenue Growth
In Q3 2024, VEON reported total revenue of USD 1,038 million, marking a 9.8% year-over-year increase. The revenue growth in local currency was even more impressive at 14.1% year-over-year, with underlying revenue growth in local currency at 16.0% year-over-year.
Direct Digital Revenue
Direct digital revenue saw a significant uptick, reaching USD 121 million in Q3 2024, which represents a 35.1% year-over-year increase. In local currency, the growth was 32.6% year-over-year.
Telecom and Infrastructure Revenue
VEON’s telecom and infrastructure revenue also experienced growth, reaching USD 916 million in Q3 2024. This represents a 7.2% year-over-year increase, or 12.2% year-over-year growth in local currency.
EBITDA and Cash Flow
Despite a slight dip in EBITDA at USD 438 million (-1.5% year-over-year), VEON saw a 3.5% year-over-year growth in local currency. The company’s Total cash and cash equivalents stood at USD 1,019 million, with LTM Equity Free Cash Flow at USD 421 million, marking a 22.2% year-over-year increase.
Effects on Individuals
As a consumer, these financial results may have ripple effects on your experience with VEON’s services. The company’s revenue growth and cash flow can potentially lead to enhanced service offerings, improved network infrastructure, and better customer support.
Global Impact
VEON’s strong financial performance is not only beneficial for individuals but also for the global telecommunications industry at large. A financially robust VEON can contribute to innovation, competition, and overall growth in the sector, benefiting consumers and businesses worldwide.
Conclusion
In conclusion, VEON’s Q3 2024 financial results showcase a positive trajectory for the company, with notable revenue growth and cash flow. These results not only impact individual consumers by potentially improving services but also have broader implications for the global telecommunications landscape, fostering innovation and growth.
