Welcome to our dedicated page for Veon news (Ticker: VEON), a resource for investors and traders seeking the latest updates and insights on Veon stock.
VEON Ltd (VEON) delivers mobile connectivity, digital services, and fixed-line solutions across emerging markets through brands like Beeline and Kyivstar. This page aggregates all official announcements and third-party coverage related to the company’s operations, financial performance, and strategic initiatives.
Access real-time updates on earnings reports, infrastructure investments, regulatory developments, and technological innovations. Investors gain a consolidated view of material events, while analysts find structured data for market evaluation. Media professionals benefit from primary source verification capabilities.
Key coverage areas include quarterly financial results, partnership announcements, leadership updates, network expansion projects, and digital service launches. All content undergoes strict sourcing verification to ensure compliance with financial disclosure standards.
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VEON Ltd. held its Annual General Meeting of Shareholders on June 29, 2022, where significant governance changes were implemented. Shareholders elected three new directors: Augie Fabela, Morten Lundal, and Stan Miller, alongside eight continuing members. The meeting saw 99.9% of shares represented and included the formal presentation of the financial statements. The newly elected directors bring extensive experience in telecommunications and media, which could positively influence VEON's strategy moving forward.
VEON Ltd. reported a 1.3% increase in consolidated revenue for the first five months of 2022, up 8.7% year-on-year in local currency. Six out of eight countries showed double-digit revenue growth. CEO Kaan Terzioglu attributes this growth to the digital operator strategy, enhancing customer experience, and expanding service portfolios. Subscriber growth and improved engagement metrics are noted, reflecting a positive operational outlook despite challenging conditions. Full AGM details are available on the VEON website.
VEON Ltd. reported its 1Q22 financial results, showing a net loss of USD 97 million yet a significant net profit before impairments rose by 168% YoY to USD 375 million. Revenue increased by 9.8% YoY in local currency to USD 1,823 million. Cash from operations was USD 565 million, demonstrating strong cash flow generation despite challenges. A non-cash goodwill impairment of USD 449 million affected results, primarily due to operations in Russia. Overall, VEON continues to strengthen its market presence in various regions, including Ukraine and Pakistan.
VEON Ltd. has announced a significant US$ 15 million investment in Dastgyr, a B2B e-commerce platform in Pakistan, as part of its Series A funding. This investment aims to enhance Pakistan's digital economy, connecting retailers with suppliers for better pricing and financing visibility. The funding will support Dastgyr's expansion into 15 new cities, building synergies with VEON's existing services like Jazz's communications network and JazzCash mobile payments. VEON's investment reflects its commitment to the region's digital transformation.
On June 10, 2022, VEON's CEO Kaan Terzioğlu provided an update on key developments for stakeholders. VEON completed the sale of its Georgian operations for USD 45 million, strengthening focus on high-growth markets. The company increased its cash reserves to approximately USD 2.4 billion and finalized significant long-term loans for its Pakistani and Bangladeshi operations. The Group reported year-on-year revenue growth in April and May, driven by strong performance in its digital services. The Annual General Meeting is scheduled for June 29, 2022.
VEON Ltd. announced the completion of the sale of its Georgian subsidiary, VEON Georgia LLC, to its former local partner for USD 45 million. This transaction reflects a 3.5x multiple on 2021 EBITDA (pre-IFRS16) and aligns with VEON's strategy to simplify its organizational structure. CEO Kaan Terzioglu highlighted the successful negotiations and emphasized the commitment of the new shareholder towards the ongoing digital transformation in Georgia. This move indicates VEON's continued focus on streamlining operations while fostering digital growth in the region.
On May 25, 2022, VEON reported a cash and deposit increase to approximately USD 2.4 billion, up from USD 1.9 billion at the end of March 2022. The company holds USD 1.8 billion in cash and deposits at its Amsterdam headquarters, bolstered by a successful drawdown of USD 610 million from its Revolving Credit Facility (RCF). VEON has USD 973 million outstanding under the RCF.
Despite not receiving USD 82 million from Intesa Sanpaolo Bank, discussions continue regarding funding obligations. VEON emphasizes a prudent liquidity position amid macroeconomic uncertainty.
VEON Ltd. (NASDAQ: VEON) announces its collaboration with the Uzbekistan Government to provide digitalisation services during the country’s World Trade Organization (WTO) accession. CEO Kaan Terzioglu emphasized VEON's commitment to Uzbekistan's digital future. The company will invest $250 million over the next five years to support the Digital Uzbekistan-2030 program. This investment aims to bolster the nation’s technological infrastructure, enhancing its global competitiveness and facilitating its WTO application.
VEON Ltd. has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2021, with the U.S. Securities and Exchange Commission. The report, which includes comprehensive audited financial statements, is accessible on the company's Investor Relations page. Shareholders can request a hard copy at no cost by contacting VEON's Investor Relations Department.
VEON is a global provider of connectivity and digital services, listed on NASDAQ and Euronext Amsterdam.
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