3Q26: VEON Delivers Double-Digit Growth as Digital Services Reach 27.2% of Revenue
VEON reported 3Q26 revenue of $1,307 million, up 17.2% YoY, with EBITDA up 10.1% to $577 million and diluted EPS per ADS of $2.67. Digital businesses scaled sharply, with digital revenue up 45.9% to $355 million (27.2% of group revenue) and digital EBITDA up 54.5% at a 36.0% margin; financial services revenue grew 54.2%. Management raised the midpoint of 2026 guidance, now 16%-18% revenue growth and 10%-12% EBITDA growth, and continued capital returns: 1.55 million ADSs repurchased for $112.5 million with 1.08 million cancelled.
Key figures
- Eps
- 2.67
- Revenue
- 1307000000
- Guidance
- 2026 revenue growth outlook raised to 16%-18% YoY (from 15%-18%); EBITDA growth outlook raised to 10%-12% YoY (from 9%-12%); capex intensity unchanged at 15%-17% of revenues (excl. Ukraine)
- Revenue Yoy
- 17.2%
- Fcf
- 201000000
- Ebitda
- 577000000
- Fcf yoy
- -33.8%
- Ebitda yoy
- 10.1%
- Net profit
- 225000000
- Mobile arpu
- USD 1.8
- Revenue 9m26
- 3779000000
- Ads cancelled
- 1080000
- Buyback value
- 112500000
- Digital ebitda
- 128000000
- Leverage ratio
- 1.05x
- Digital revenue
- 355000000
- Mobile arpu yoy
- 4.7%
- Digital customers
- 221100000
- Digital ebitda yoy
- 54.5%
- Digital revenue yoy
- 45.9%
- Multiplay customers
- 44700000
- Cash and equivalents
- 2033000000
- Buyback adss repurchased
- 1550000
- Financial services revenue
- 166000000
- Financial services revenue yoy
- 54.2%
AI analysis
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