Latest news with #VEONGroup
Business Recorder
15-05-2025
- Business
- Business Recorder
Jazz posts 20.3pc revenue growth YoY in Q1
ISLAMABAD: Jazz, country's leading digital operator and a part of the VEON Group, reported a 20.3 per cent year-on-year revenue growth in Q1 2025, driven by continued digital diversification and disciplined cost management. During the quarter, Jazz invested Rs9.5 billion—marking a 78.4 percent year-on-year increase—to expand 4G capacity and scale its digital platforms. This performance was delivered despite persistent macroeconomic and policy headwinds impacting the telecom sector. Direct digital revenues grew 49.5 per cent YoY, contributing 27.7 per cent to total revenue, driven by strong fintech and digital services performance and Jazz's strategic shift to platform-based models. With over 20.6 million monthly active users, Pakistan's leading fintech JazzCash processed a gross transaction value of Rs 10.7 trillion during the last twelve months as of March 2025. Its extensive network, comprising 121,000 active agents and over 340,000 active merchants, has facilitated considerable digitalization of society, with approximately 142,000 digital loans issued daily. Mobilink Bank also delivered a strong performance, recording 25.5 per cent revenue growth. Among digital verticals, Tamasha—Pakistan's largest home-grown streaming platform—grew 37.6 per cent year-on-year to 16.5 million MAUs, driven by exclusive cricket content, including over 57 live match days across the ICC Champions Trophy, PSL, and major bilateral series. SIMOSA, Jazz's Sim-Care, Lifestyle & Social app, grew to 20.9 million MAUs, with its new social community attracting 1 million users within 23 days of launch in Q1 2025. FikrFree, Jazz's AI-powered insurance and healthcare marketplace, has surpassed 1 million MAUs and 1.8 million policies sold since its October 2024 launch, with new features underway to expand access to quality healthcare nationwide. ROX—Jazz's youth-centric digital lifestyle platform—also grew to 700,000 monthly active users. The company's mobile customer base reached 73.4 million, with 4G users increasing 16 per cent year-on-year to 53.3 million. Mobile ARPU rose 14.0 per cent to PKR 328, supported by higher data usage and uptake of digital bundles. Multiplay customers—who use more than one Jazz service—grew 33.1 per cent and now account for 37 per cent of the user base. EBITDA grew 13.2 per cent year-on-year, while EBITDA margins slightly declined to 42 per cent, reflecting a shifting revenue mix. As Jazz scales new digital platforms, which have comparatively lower margins than traditional telecom services, investments in innovation and service diversification are expected to drive long-term growth. Aamir Ibrahim, CEO of Jazz, said: 'This growth reflects our successful transformation into a ServiceCo—powered by innovation, financial discipline, and a deep commitment to digital inclusion. We're building platforms that empower individuals, enable small businesses, and help create a more connected, resilient Pakistan. To sustain this momentum, we urgently need tax and policy reforms that recognise the strategic value of digital infrastructure and foster long-term investment.' As Pakistan's top taxpayer, Jazz has contributed over Rs502 billion to the national exchequer in the past decade. Copyright Business Recorder, 2025
Associated Press
27-03-2025
- Business
- Associated Press
VEON Returns to Capital Markets with Successful Syndication of USD 210 Million Term Loan
Dubai, March 27, 2025 – VEON Ltd. (Nasdaq: VEON), a global digital operator, today announces the successful syndication of a 24-month, USD 210 million senior unsecured term loan under a new facility agreement from a consortium of international lenders, including ICBC Standard Bank and leading GCC banks. 'I am pleased to mark VEON's return to the capital markets with the successful syndication of this new USD 210 million term loan from a group of leading international banks and investors. This new debt facility reflects the market's strong confidence in VEON's strategy, financial health, and future. The new financing not only strengthens our liquidity position but also reinforces our commitment to executing on our digital operator strategy to deliver growth and long-term value creation for all stakeholders,' said VEON Group CEO Kaan Terzioglu. 'This new HQ-level syndicated loan is a testament to VEON's strong relationships with our banks and other financial partners. It will significantly enhance the Group's financial flexibility and strengthen our overall financial position,' said VEON Group CFO Burak Ozer. The facility will bear interest at SOFR plus 425 bps. About VEON VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information visit: Disclaimer This release contains 'forward-looking statements,' as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements relating to VEON's commercial and investment plans, VEON's ability to satisfy upcoming maturities and refinance its existing debt, and the expectation that VEON will be able to secure additional financing in the future. These statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause VEON's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements in this press release. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. There can be no assurance that the initiatives referred to above will be successful. VEON Hande Asik
