Veon Q1 core earnings rise 5.1%, keeps clients after cyberattack (updated)

VEON

16/05/2024 06:23

(Adds context in paragraphs 3-4, quote in paragraph 5, active
users in paragraph 6, outlook in paragraph 7)
       May 16 (Reuters) - Telecom company Veon  VON.AS , which
owns Ukraine's biggest mobile operator Kyivstar, on Thursday
posted 5.1% growth in first-quarter core profit, as it retained
customers following a cyberattack on its unit last year.
    Earnings before interest, taxes, depreciation, and
amortization (EBITDA) were $386 million, up 5.1% on a year
earlier in local currency terms, the company said in a
statement.
        In October last year, Veon 
    exited Russia
     - a market that had generated half its sales - after EU
sanctions led to resignations of some board members.
  
        Veon has been focusing on its other markets including
Ukraine where it is present through Kyivstar, which got hit by a
    cyberattack
     in December.
  
        "As of the reported date, there is no ongoing impact on
the customer, and/or user activity in Ukraine," it added,
referring to the cyberattack.
  
        Its total number of digital monthly active users rose
40% year-on-year to 111 million users.
  
        The Netherlands-listed group kept its full-year
guidance.
  
    
        
  
   

 (Reporting by Olivier Sorgho; Editing by Sonali Paul)
 ((Olivier.Sorgho@thomsonreuters.com;))