Veon Q4 Ebitda USD 453 Mln
March 16 (Reuters) -VEON Ltd VON.AS:
PUBLISHES PRELIMINARY 4Q22 AND FY22 RESULTS
IN Q4 2022, VEON'S LOCAL CURRENCY PERFORMANCE ACCELERATED SHARPLY WITH TOTAL REVENUES OF USD 940 MILLION, -4.9% YOY IN REPORTED CURRENCY
FOR FY 2022, VEON'S TOTAL REVENUES AMOUNTED TO USD 3,755 MILLION, -2.4% YOY IN REPORTED CURRENCY
Q4 EBITDA WAS USD 453 MILLION
END-FY TOTAL CASH AND CASH EQUIVALENTS WERE USD 3.1 BILLION, WITH USD 2.5 BILLION HELD AT HQ LEVEL
CAPEX INTENSITY UP 1.1 P.P. AS COMPANY INVESTED IN 4G NETWORK EXPANSION.
IN 4Q22, GROUP CAPEX WAS USD 263 MILLION, DRIVEN BY INVESTMENT IN 4G NETWORKS IN UKRAINE, BANGLADESH AND UZBEKISTAN
FY NET LOSS $164 MILLION VERSUS $801 MILLION YEAR AGO
IN UKRAINE, TEAM CONTINUED TO WORK TO KEEP COUNTRY CONNECTED, WITH AROUND 90% OF OUR RADIO NETWORK OPERATIONAL AT END OF QUARTER
OVER COURSE OF QUARTER, DAMAGE TO UKRAINIAN POWER INFRASTRUCTURE IMPACTED NETWORK AVAILABILITY AT TIMES. KYIVSTAR'S REVENUES WERE UP 8.7% YOY IN LOCAL CURRENCY
THE SALE OF RUSSIA WILL RESULT IN THE SIGNIFICANT DELEVERAGING OF THE GROUP BALANCE SHEET.
AS VEON GROUP STRENGTHENS ITS POSITION FOR ACCELERATING GROWTH, OUR 2023 LOCAL CURRENCY GUIDANCE FOR BOTH REVENUE AND EBITDA IS GROWTH OF 10%-14%.
VEON'S 2023 OUTLOOK FOR GROUP'S CAPEX INTENSITY IS IN RANGE OF 18%-20%
GROSS DEBT DECREASED TO USD 7.5 BILLION AS OF 31 DECEMBER 2022, COMPARED WITH USD 11.4 BILLION AT THE END OF 3Q22
WITH RUSSIAN OPERATIONS NOW NOT CONTRIBUTING TO GROUP REVENUES, VEON’S TOPLINE GROWTH IN LOCAL CURRENCY FOR THE FULL YEAR 2022 WAS 14.0%
SANCTIONS AND SUCH RESPONSES CONTINUE OR ESCALATE, MAY SIGNIFICANTLY IMPACT OUR RESULTS AND ASPECTS OF OUR OPERATIONS IN RUSSIA AND UKRAINE, AND MAY SIGNIFICANTLY AFFECT OUR RESULTS AND ASPECTS OF OUR OPERATIONS IN OTHER COUNTRIES IN WHICH WE OPERATE.
OUR OPERATIONS IN UKRAINE CONTINUE TO BE AFFECTED BY CONFLICT.
Source text for Eikon: ID:nGNX6GFvTS
Further company coverage: VON.AS
(Gdansk newsroom)
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