Welcome to our dedicated page for VEON Ltd. SEC filings (Ticker: VEON), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
VEON Ltd. filings document the regulatory record of a foreign private issuer with Nasdaq-listed American depositary shares. The company furnishes Form 6-K current reports for press releases and material events, and files Form 20-F annual reports covering audited financial statements, operating performance, business strategy, governance, sustainability and risk disclosures.
Recent filings record annual general meeting materials, board nominations and director elections, ADS depositary fee matters, capital-structure and capital allocation disclosures, integrated annual report publication and subsidiary transactions such as Kyivstar digital-service acquisitions. The filings also provide formal disclosure around VEON's connectivity and digital-services operations.
VEON Ltd. reported a strong start to 2026, with 1Q26 revenue up 17.0% year-on-year to USD 1,201 million and EBITDA up 17.7% to USD 517 million. Growth was broad-based, led by a 57.7% surge in digital revenues to USD 303 million, which now represent 25.2% of group revenue, while telecom and infrastructure revenue rose 7.6% to USD 898 million.
EBITDA margin edged up to 43.0%, helped by cost discipline and operating leverage. Earnings per ADS increased to USD 1.39, while equity free cash flow after leases and licenses jumped 73.4% to USD 246 million. Net debt excluding leases was broadly stable at USD 1,764 million, with leverage improving to 1.07x EBITDAaL.
VEON raised its 2026 revenue growth outlook to 11%–14% in USD terms and kept EBITDA growth guidance at 7%–10%, while modestly lifting expected capex intensity (ex‑Ukraine) to 15%–17%. The company is executing a USD 100 million buyback, having repurchased 959.3 thousand ADSs for USD 49.6 million as part of a wider capital return policy targeting at least USD 100 million annually, subject to conditions.
VEON Ltd. held its online Annual General Meeting, where shareholders re-elected all seven current directors and then re-elected founder Augie K Fabela II as Chairman for a third term, signaling continuity in governance and strategy.
The company highlighted its capital allocation policy targeting the return of at least USD 100 million to shareholders annually, building on a USD 100 million share buyback program authorized in November 2025. For FY25, VEON reported total revenue of USD 4.4 billion, up 9.9% year-on-year, and EBITDA of USD 2.0 billion, up 18.8% year-on-year, with EBITDA margin expanding to 45.7%.
Direct digital revenues grew 62.5% year-on-year to USD 759 million in FY25. In 4Q25, digital revenues reached 20.1% of total revenue, and 3‑month active digital service customers reached 205.8 million, surpassing connectivity subscribers for the first time. Approximately 99.55% of VEON shares were represented at the AGM, where shareholders also approved the re-appointment of UHY LLP as external auditor for the financial year ended December 31, 2026.
VEON Ltd. reports that, effective January 1, 2026, BNY Mellon will stop collecting depositary service fees from holders of VEON American Depositary Shares. This change lowers the cost of ownership by USD 0.05 per ADS per year for investors.
The company also highlights a capital allocation policy that targets returning at least USD 100 million annually through share buybacks. VEON describes itself as a digital operator serving over 150 million connectivity customers and more than 205 million digital users across five countries.
VEON Ltd. published its 2025 Integrated Annual Report, highlighting a shift from pure connectivity to a digital-operator model and strong financial performance. Group revenue rose 9.9% year-on-year to USD 4,399 million, while EBITDA grew 18.8% to USD 2,009 million, supported by disciplined cost management and digital monetization.
Digital service customers reached 205.8 million 3‑month active users in 4Q25 versus 150.2 million connectivity customers, and direct digital revenues grew 62.5%, reaching 17.3% of full-year Group revenues. VEON advanced “sovereign AI” initiatives, strengthened ESG policies and energy efficiency, listed Kyivstar on Nasdaq, and authorized a share buyback of up to USD 100 million alongside a capital allocation policy targeting the return of at least USD 100 million to shareholders annually through repurchases, subject to market conditions and Board approval.
VEON Ltd. has scheduled its 2026 Annual General Meeting of Shareholders for May 11, 2026 at 12:00 Gulf Standard Time, with a record date of March 31, 2026. The Board’s Nomination Committee is recommending the re-election of the company’s seven current directors, including CEO Kaan Terzioglu and former U.S. Secretary of State Michael R. Pompeo.
The AGM agenda also includes re-appointment of UHY LLP as external auditor for the financial year ending December 31, 2026, and shareholder receipt of the auditor’s report and audited financial statements for the year ended December 31, 2025. VEON highlights its digital operator strategy, noting digital revenues grew 84.1% year-over-year to 20.1% of Group revenue in 4Q25.
VEON Ltd. has filed its Annual Report on Form 20-F for the year ended December 31, 2025 with the U.S. Securities and Exchange Commission. The filing follows completion of the 2025 financial statement audit by independent auditor UHY LLP under Public Company Accounting Oversight Board standards.
The 2025 Form 20-F is available on the SEC’s website and in the Financial Results section of VEON’s website, and shareholders can request a free hard copy by contacting the Investor Relations department. VEON operates across five countries, serving over 150 million connectivity and more than 205 million digital users.
VEON Ltd. files its Form 20‑F annual report for the year ended December 31, 2025, prepared under IFRS and presented in U.S. dollars. The company operates mainly in Pakistan, Ukraine, Kazakhstan, Bangladesh and Uzbekistan, with 1,849,190,667 common shares outstanding at period end.
VEON explains its non‑IFRS metrics such as Adjusted EBITDA, Adjusted EBITDA margin and capital expenditures excluding licenses and right‑of‑use assets, and outlines key operating indicators like ARPU, 4G users and multiplay customers. The report highlights that Ukraine, Pakistan and Bangladesh face elevated political, economic and security risks, including the ongoing war in Ukraine, civil unrest in Bangladesh and periodic network shutdowns in Pakistan.
Management emphasizes exposure to frontier‑market volatility, foreign‑currency fluctuations, high inflation and U.S. trade tariffs that disrupt supply chains. It also details significant risk factors such as potential nationalization in Ukraine, sanctions links to its largest shareholder, cyber‑attacks, climate‑related disruptions, and the impact of new Middle East hostilities on its Dubai headquarters and regional stability.
VEON Ltd. reported strong fourth-quarter and full-year 2025 results, driven by rapid expansion of its digital services. For 2025, total revenue rose 9.9% year-on-year to USD 4,399 million, while EBITDA increased 18.8% to USD 2,009 million, lifting the EBITDA margin to 45.7%.
Digital revenues grew 62.5% to USD 759 million, representing 17.3% of group revenue, and generated Digital EBITDA of USD 207 million with a 27.3% margin. Equity free cash flow after leases and licenses reached USD 624 million, and net debt excluding leases fell to 1.09x EBITDA, supported by disciplined capex of USD 930 million.
VEON advanced its strategy with a completed USD 100 million buyback, a second buyback in progress, a policy framework targeting at least USD 100 million in annual repurchases, the Kyivstar secondary offering, and acquisitions including Ukraine’s Tabletki.ua and ride-hailing platform Uklon. For 2026, VEON guides to USD revenue growth of 9%–12%, EBITDA growth of 7%–10%, and capex intensity excluding Ukraine of 14%–16%.
VEON Ltd., through its subsidiary Kyivstar Group Ltd., has completed the acquisition of 100% of Ukrainian digital healthcare platform Tabletki.ua for USD 160 million, payable in Ukrainian hryvna in Ukraine.
Tabletki.ua is a leading Ukrainian platform for finding, comparing, and reserving medicines, partnering with more than 14,000 pharmacies and handling an average of 14 million reservations per month in 2025. Bookings through the platform reached gross merchandise value of UAH 45 billion (USD 1.06 billion) in FY2024 and UAH 57.3 billion (USD 1.19 billion) for the twelve months ending September 30, 2025. Based on unaudited management accounts as of September 30, 2025, Tabletki.ua generated EBITDA of USD 24 million and net profit of USD 20 million, implying a price-to-earnings multiple of 8.0x. The business will join Kyivstar’s broader digital ecosystem, which includes the Helsi e-health platform, Uklon, Kyivstar TV and the MyKyivstar super-app, supporting VEON and Kyivstar’s broader plan to invest USD 1 billion in Ukraine between 2023-2027.