Kyivstar parent VEON expects lower 2024 revenue growth (updated)

VEON

21/03/2024 07:02

(Adds quote in paragraph 3, details on earnings in paragraph 5)
    By Nathan Vifflin
       March 21 (Reuters) - VEON  VON.AS , the owner of
Kyivstar, Ukraine's largest mobile network, on Thursday said it
expected lower revenue growth in 2024, but still forecasts
double-digit growth.
    The Amsterdam-listed company expects its revenue to grow
16%-18% in 2024, with local currency normalised, against 18%-20%
last year. 
        VEON is the largest mobile services provider in four of
its six markets, including Ukraine, and has been targeted by
mass cyberattacks in December, costing it almost a $100 million
in sales.
    "As a result of its digital operator strategy, and expected
slowdown in inflation, the company has guided to another year of
double-digit growth," the company said in a statement.
    VEON reported 2023 revenue of 3.70 billion dollars, a 17.9%
rise year-on-year, with local currency normalised.
    Earnings before interest, taxes, depreciation, and
amortization (EBITDA) rose 20% to $1.61 billion, in line with
2023 guidance at 18%-20%, with local currency normalised, and
unchanged 2024 guidance.

        
  
    

 (Reporting by Nathan Vifflin in Gdansk; Editing by Sonia
Cheema)
 ((nathan.vifflin@thomsonreuters.com ; +48 58 769 67 13))