VEON posts 17% revenue growth to $1.2B; EBITDA rises to $517M; digital revenue up 57.7%
VEON posted 17% year-over-year revenue growth to $1.2 billion and raised EBITDA 17.7% to $517 million, boosting margin by 20 bps to 43% and cutting net debt to 1.07x leverage. Equity free cash flow jumped 73.4% to $246 million, digital revenue surged 57.7% to $303 million, while ARPU climbed to $2.3 and buyback program launched.
1. Q1 Financial Results
VEON delivered $1.2 billion in revenue, up 17% year-over-year in U.S. dollars, and reported $517 million in EBITDA, a 17.7% increase. EBITDA margin expanded by 20 basis points to 43% despite ongoing geopolitical challenges.
2. Cash Flow and Balance Sheet
Equity free cash flow rose 73.4% to $246 million, driven by stronger collections and operational efficiency. Net debt declined to $1.76 billion with leverage at 1.07x, and total cash reached $1.75 billion, including $457 million held at headquarters.
3. Digital Services and Expansion
Digital revenue jumped 57.7% to $303 million, representing over 25% of total group sales, while ARPU increased to $2.3. JazzCash users exceeded 29 million with a merchant network of over 600,000, and the company initiated a $100 million share buyback program.