Quarterly ResultJul 31, 2026, 07:41 AM
VEON Q2 Revenue +17% to $1.27B; Digital Revenue +53.6%; Raises 2026 Outlook
AI Summary
VEON reported strong Q2 2026 results with total revenue increasing 17.0% YoY to USD 1,271 million and digital revenue soaring 53.6% YoY to USD 342 million. EBITDA grew 6.2% YoY to USD 552 million. Diluted EPS decreased 79.6% YoY to USD 1.69, primarily due to a USD 489 million gain on a Pakistan tower sale in Q2 2025 and a USD 21.2 million fair value loss on KGL warrants in Q2 2026. Based on strong first-half performance, VEON raised its full-year 2026 revenue growth outlook to 15%-18% and EBITDA growth outlook to 9%-12%. The company also announced a commitment to cancel a minimum of USD 100 million of repurchased shares annually and completed a USD 1.4 billion bond offering to refinance 2027 debt.
Key Highlights
- Digital revenue climbed 53.6% YoY to USD 342 million in Q2 2026.
- Total revenue reached USD 1,271 million, increasing 17.0% YoY.
- EBITDA grew 6.2% YoY to USD 552 million.
- Diluted EPS was USD 1.69, a 79.6% YoY decrease due to prior-year one-offs.
- Raised 2026 revenue growth outlook to 15%-18% YoY (previously 11%-14%).
- Raised 2026 EBITDA growth outlook to 9%-12% YoY (previously 7%-10%).
- Committed to annual cancellation of minimum USD 100 million repurchased shares and ADSs.
- Completed USD 1.4 billion bond offering, refinancing substantially all 2027 debt maturities.
Price Impact
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