VEON sees revenue decrease 8.7%, EBITDA fall 13.5% in Q1

KYIV. May 4 (Interfax-Ukraine) – Telecom group VEON reported revenue down 8.7% to $884 million in the first quarter of 2023.

The group’s service revenue slumped 7.9% to $852 million, VEON said. EBITDA fell 13.5% to $385 million in the quarter.

In local currencies, however, total revenue and service revenue grew by 15.3% and 15.9%, respectively, and EBITDA increased by 11.2%.