VEON - VEON reports Q2 results; raises FY23 guidance

2023-08-03 01:20:24 ET

• VEON press release ( NASDAQ: VEON ): Q2 EBITDA was $415 million, -10.6% Y/Y in reported currency (+13.6% Y/Y in local currency).
• Capex in 2Q23 was $171 million, a decline of 16.6% Y/Y, with capex intensity for the last twelve months at 19.6%,and 18.7% in the quarter.
• Total cash and cash equivalents as of 30 June 2023 amounted to $2.4 billion, excluding banking operations in Pakistan, with $2.0 billion held at the headquarters level.
• Revenue of $916M (-4.3% Y/Y).
• "As we deliver on our Digital Operator strategy targets across the Group, we have raised our guidance for 2023 local currency revenue growth to 16-19%, and EBITDA growth guidance remains at 10-14%. VEON’s 2023 outlook for the Group’s capex intensity is in the range of 18%-20%."

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