VEON’s revenue up 12.3% in Q2

3 Aug 2017

VEON (formerly VimpelCom) has posted total revenue which increased 12.3% year-on-year to USD2.417 billion in the second quarter of 2017. Group EBITDA increased 17.1% to USD931 million. Russian (Beeline) revenue accounted for USD1.197 billion of total turnover in April-June 2017, up by 18.7% y-o-y, on gains in both mobile and fixed telecoms segments, whilst Russian EBITDA grew 13.8% to USD471 million. Pakistan (mobile) was the second biggest earning segment for VEON, accounting for USD385 million of Q217 revenue (up 18.7%) and USD359 million EBITDA (up 33.7%). Total group mobile subscribers increased 6.9% to 208 million at the end of June 2017, primarily driven by the inclusion of the recently-acquired Warid’s customer base in Pakistan and by further organic customer growth in Pakistan, Ukraine and Uzbekistan.

Russia, VEON