Kyivstar’s parent company VEON has published the results of its financial report for the 4th quarter of 2024 and the results of last year. What indicators did the group of companies manage to achieve and how much did they earn in Ukraine?
Kyivstar’s parent company VEON has published the results of its financial report for the 4th quarter of 2024 and the results of last year. What indicators did the group of companies manage to achieve and how much did they earn in Ukraine?
«2024 was a year of transformation for VEON,» said Kaan Terzioglu, Chief Executive Officer of VEON Group, commenting on the financial results.
According to data released by VEON in its annual report, in 2024 the company worked towards growth:
In terms of total revenue, Ukraine ranked second. Revenues in the local region amounted to $925 million, or 23% in the structure compared to other regions. In Ukraine, VEON Group generated EBITDA of $518 million in 2024, or more than 30% compared to other regions.
The company reported that weighted inflation decreased to 8,2% in Q4 2024 from 14,8% in Q4 2023 across all VEON markets. For 2024, the company’s revenues grew 14,6% year-on-year in local currency, and EBITDA increased 12%.
VEON highlighted the strong performance the company achieved in 2024 in Ukraine, including:
In addition, the company’s positive performance was actively influenced by the removal of all restrictions on VEON’s corporate rights in Kyivstar and the agreement with Starlink to provide satellite communication with direct connection to cellular communication in Ukraine.
The company managed to expand its digital portfolio through the acquisition of Uklon, a leading travel business in Ukraine.
VEON has signed a business combination agreement with Cohen Circle Acquisition Corp. I, which will lead to the listing of Kyivstar on the Nasdaq stock exchange in the United States.
