VEON Ltd (VEON) has released an update.
VEON Ltd., a global digital operator, reported a solid financial performance in the fourth quarter of 2023, with a 1.4% year-over-year growth in revenue and a significant 17.9% increase in local currency terms, despite a 20.4% decrease in EBITDA in reported currency. The company’s leverage improved, with net debt excluding leases down to 1.42x from 2.36x the previous year. VEON also highlighted the strategic success of its digital services, with a growing user base and a strong liquidity position, holding USD 1.7 billion in cash and cash equivalents.
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