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Veon's revenue fell 4% year on year (YoY) from $9,474m in FY17 to $9,086m in FY18. The total number of group customers across all of Veon’s operations increased by 1.2 million YoY to 211 million in 1Q19.


  • Total revenue in Veon's core market of Russia fell 1.5% YoY to $4,656m, but grew by 5.7% in local currency terms. For the same period, the YoY revenue in Algeria and Bangladesh fell 11% and 9% respectively. Veon quoted challenging market conditions, a tough regulatory environment, and increased competition as the reasons for the revenue drop. In Pakistan, one of the Veon’s fastest growing units, the revenues have gone down 2% to $1,494m in FY2018 due to currency volatility, however, the revenues have gone up 13.1% in local currency terms driven by higher usage and data consumption.

Features and Benefits

  • Analyzes Veon's performance.
  • Outlines the group's latest strategic initiatives.
  • Analyzes Veon's strategic plans in its core market of Russia.

Key questions answered

  • How has the economic environment across Veon's footprint affected its KPIs?
  • What is Veon's digital strategy?
  • Has Veon adapted a cost-cutting strategy?

Table of contents


  • Download 1: Veon Update, May 2019

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