20 Nov 2023 15:25

VEON raises revenue outlook for 2023, expects figure to grow 18%-20% in national currencies

MOSCOW. Nov 20 (Interfax) - VEON has raised its revenue outlook for 2023, and it now expects growth of 18%-20% in national currencies, the telecommunications holding said in a press release.

The company had previously forecast an increase in revenue of 16%-19% year-on-year in 2023.

VEON expects EBITDA to rise 18%-20%, subject to "normalization of unplanned one-off write-offs" at headquarters and at operations in Pakistan in 2022 and 2023.

VEON had previously forecast EBITDA to increase 10%-14% in national currencies in 2023.

Meantime, the company has lowered its outlook for capex intensity from 18%-20% to 16%-18%.

VEON boosted organic revenue 14% to $3.76 billion in 2022, and EBITDA rose 12.6% year-on-year $1.74 billion in the reporting period.