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VEON - VEON News Story

€1.13 -0.0  -0.5%

Last Trade - 23/10/20

Sector
Telecoms
Size
Mid Cap
Market Cap £1.80bn
Enterprise Value £9.11bn
Revenue £6.47bn
Position in Universe 178th / 850

BRIEF-Veon Q2 EBITDA Down At $809 MILLION

Thu 6th August, 2020 6:10am
Aug 6 (Reuters) - VEON Ltd  VON.AS :
    * Q2 REVENUE: USD 1,892 MILLION, -16.3% YOY ON A REPORTED BASIS; -6.9% YOY IN LOCAL
CURRENCY,
EXCLUDING ONE-OFF ITEM
    * Q2 EBITDA: USD 809 MILLION, -18.7% YOY ON A REPORTED BASIS; -7.7% YOY IN LOCAL CURRENCY,
EXCLUDING ONE-OFF ITEM
    * Q2 MOBILE SUBSCRIBER BASE: 205 MILLION ACTIVE SUBSCRIBERS, -3.4% YOY
    * Q2 OPERATIONAL CAPEX4 : USD 492 MILLION, WITH LTM CAPEX INTENSITY OF 20.8%
    * REINTRODUCING FINANCIAL GUIDANCE FOR FY 2020
    * ANTICIPATE A STEADY RECOVERY IN GROUP REVENUE AND EBITDA DURING H2, ASSUMING GRADUAL
LIFTING OF
LOCKDOWN MEASURES CONTINUES
    * LONG-TERM GROWTH OPPORTUNITIES OFFERED BY OUR MARKETS REMAIN HIGHLY ATTRACTIVE
    * IMPACT OF COVID-19 PANDEMIC ON OUR PERFORMANCE IS NOT ANTICIPATED TO HAVE A SIGNIFICANT
IMPACT
ON OUR CAPEX PLANS FOR 2020
    * COST REDUCTION REMAINS A KEY PRIORITY FOR GROUP
    * PLANNED RESTRUCTURING OF HEADQUARTERS AND REDUCTIONS IN STAFF-RELATED COSTS IN Q2 LESSENED
MARGIN IMPACT OF LOWER REVENUES
    * FOR FY 2020, FORECASTS A GRADUAL RECOVERY IN GROUP REVENUE AND EBITDA FROM SECOND-QUARTER
LEVELS
    * ANTICIPATING A STEADY RECOVERY IN OPERATIONS IN 2H20, SUBJECT TO GRADUAL LIFTING OF
LOCKDOWN
MEASURES
    * EXPECTING IN 2020 LOW TO MID-SINGLE-DIGIT LOCAL CURRENCY YOY DECLINE IN BOTH GROUP REVENUE
AND
EBITDA
    * EXPECTING IN 2020 CAPEX INTENSITY(4) OF 22-24%

Source text for Eikon:  ID:nPn7XkK2Ka 
Further company coverage:  VON.AS 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))
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