VEON Delivers Robust H1 2026: Revenue Climbs 17% to $2.5B, Adjusted EBITDA Rises 11.5% to $1.1B
VEON sits 29% above its 52-week low of $42.6.
Summary
VEON's H1 2026 revenue grew 17% to $2.5B, and adjusted EBITDA rose 11.5% to $1.1B. Profit fell due to a prior-year one-off gain, but the company refinanced $1.4B in debt, raised $140M from a Kyivstar share sale, and made strategic acquisitions.
Key Events · Earnings and Guidance · VEON
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H1 Revenue Jumps 17% to $2.5B
Consolidated revenue reached $2,472 million, up 17.0% year-over-year in USD terms, with local currency growth of 16.9%. Pakistan led with 23.5% growth, Ukraine 22.9%, and Uzbekistan 12.9%.
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Adjusted EBITDA Up 11.5% to $1.1B
Adjusted EBITDA rose to $1,069 million from $959 million, driven by higher revenues. Pakistan's adjusted EBITDA surged 30.5%, while Ukraine grew 17.6%. Bangladesh declined 24.0% due to one-off items in the prior year.
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$1.4B Bond Refinancing Completed
On June 1, 2026, VEON closed a dual-tranche $1.4 billion senior unsecured notes offering (6.95% due 2031 and 7.45% due 2033), using proceeds to repurchase $885 million of 3.375% notes due 2027, extending maturities and reducing refinancing risk.
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Kyivstar Secondary Offering Raises $140M
VEON sold 13,975,000 shares of its subsidiary Kyivstar Group Ltd. in a secondary public offering, reducing its ownership from 89.6% to 83.6% and generating net proceeds of approximately $140 million for general corporate purposes.
Analysis · VEON · Technology
A strong first half underscores VEON's ability to expand in challenging markets while actively reshaping its capital structure. Revenue jumped 17% year-over-year to $2.5 billion, and adjusted EBITDA advanced 11.5% to $1.1 billion, fueled by double-digit growth in Pakistan, Ukraine, and Uzbekistan. Profit attributable to owners came in at $221 million, down from $694 million a year ago, though the prior period included a one-time $497 million gain from the Deodar tower sale. The company also executed a series of strategic moves: a $1.4 billion bond refinancing that extends maturities and eases near-term debt pressure, a secondary offering of its Kyivstar subsidiary that raised $140 million, and acquisitions in digital healthcare and renewable energy. The balance sheet strengthened with cash of $2.2 billion, and after the quarter, VEON repaid a $210 million term loan early. These results confirm the company's growth trajectory and proactive capital management.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 40.6% of the 330 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, VEON was trading at $55.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $42.60 to $64.00. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.