July 31 (Reuters) - Veon, the parent company of Ukraine's leading mobile operator Kyivstar, raised its earnings outlook on Friday, signalling confidence in its strategy of expanding beyond traditional telecoms services.
Dubai-based Veon, which also owns telecoms brands across Asia, has positioned itself as a vehicle for international investors seeking exposure to Ukraine's reconstruction. The group is expanding into areas such as entertainment, financial services and superapps, which combine multiple digital services on a single platform, like China's WeChat.
Here are some details:
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VEON expects 2026 revenue growth of 15% to 18%, up from its previous forecast of 11% to 14%.
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It expects EBITDA growth of 9% to 12%, compared with its previous forecast of 7% to 10%.
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Higher energy prices due to the Iran war affected the guidance issued in the first half, prompting Veon to take a conservative approach, Chief Financial Officer Burak Ozer said
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Chief Executive Kaan Terzioglu said investor appetite for Ukraine was at an all-time high and flagged further digital investments in the country.
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"Our next investments will be around building data inference centers that we can also serve other countries when needed," he told Reuters.
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Veon's shares were up 6% in premarket trading.
Reporting by Gianluca Lo Nostro. Editing by Mark Potter
Source: Reuters