Quarterly ResultMay 13, 2026, 12:32 PM
VEON Q1 Revenue +17.0% to $1.2B; EBITDA +17.7%; Raises 2026 Revenue Guidance
AI Summary
VEON Ltd. reported a strong start to 2026 with Q1 revenue increasing 17.0% YoY to $1,201 million and EBITDA rising 17.7% YoY to $517 million. Digital revenues surged 57.7% YoY, now comprising 25.2% of total revenue. The company revised its 2026 revenue growth guidance upwards to 11%-14% YoY and maintained EBITDA growth guidance at 7%-10%. VEON also highlighted progress on its $100 million buyback program and strategic acquisitions in Pakistan.
Key Highlights
- Total Revenue: $1,201 million, up 17.0% YoY.
- EBITDA: $517 million, up 17.7% YoY.
- Digital Revenue: $303 million, up 57.7% YoY, comprising 25.2% of total revenue.
- Revised 2026 Revenue Growth Guidance: 11%-14% YoY (up from 9%-12%).
- Equity Free Cashflow (after lease & license): $246 million, up 73.4% YoY.
- Net Debt (excluding leases) to LTM EBITDAaL: 1.07x (improved from 1.09x).
- Repurchased 959.3K ADSs for $49.6 million under current buyback program.
- Approved acquisition of up to 69.66% of TPL Insurance for ~$14.6 million.