VEON 3Q23 trading update: raising full-year revenue and EBITDA guidance, return to USD revenue growth, exit from Russia completed
In 3Q23, total revenues reached USD 945 million, an increase of 6.1% YoY in reported currency, (+19.3% YoY in local currency).
- In 3Q23, total revenues reached USD 945 million, an increase of 6.1% YoY in reported currency, (+19.3% YoY in local currency).
- Service revenues amounted to USD 913 million, an increase of 6.9% YoY in reported currency (+19.8% in local currency), while EBITDA of USD 444 million represented a 17.0% YoY increase in reported currency terms (+30.6% YoY in local currency).
- Capex in 3Q23 was USD 131 million, a decline of 29.8% YoY, and reported capex intensity for the last twelve months was 17.8% (13.9% in the third quarter of 2023).
- Total cash and cash equivalents as of 30 September 2023 amounted to USD 2.2 billion with USD 1.8 billion held at the headquarters (“HQ”) level at the end of the quarter.