VEON Ltd. (NASDAQ:VEON) Q2 2024 Results Conference Call August 8, 2024 8:00 AM ET
Company Participants
Faisal Ghori - Group Director of Investor Relations
Kaan Terzioglu - Group CEO
Joop Brakenhoff - Group CFO
Conference Call Participants
Luke Robert - Barclays
Operator
Hello, and welcome to VEON's Q2 2024 Trading Update Call. We ask that you please hold all questions until the completion of the formal remarks, at which time we'll be given instructions for the question-and-answer session. Also as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time.
Faisal Ghori, you may begin.
Faisal Ghori
Thank you. Good afternoon, and good morning to everyone, and thank you for joining us today for VEON's second quarter results presentation for the period ending June 30, 2024. I'm Faisal Ghori, Head of Investor Relations. I'm pleased to be joined by Kaan Terzioglu, our Group CEO, along with Joop Brakenhoff, our Group CFO. Today's presentation will begin with the key highlights and business updates from Kaan, followed by a discussion of detailed financial results from Joop. We'll then open up the line for Q&A.
Before getting started, I would like to remind you that we may make forward-looking statements during today's presentation, which involve certain risks and uncertainties. These statements relating partly to the company's anticipated performance and guidance for 2024, future market developments and trends, operational and network development and network investments and the company's ability to realize its targets and commercial and strategic incentives, including current and future contact. Certain factors may cause actual results to differ materially from those in the forward-looking statements, including the risks detailed in the company's annual report and Form 20-F, and other recent public filings made by the company with the SEC. The trading update and presentation today, each of which includes a reconciliation of non-outcome measures presented today can be downloaded from our website.
With that, let me hand it over to Kaan.
Kaan Terzioglu
Thank you, Faisal. Welcome, everyone. I appreciate you joining us today for our Q2 results for 2024. I am excited to highlight the robust growth in U.S. dollar revenues. In the second quarter of 2024, we grew by 12.1% year-on-year in U.S. dollars, marking a strong acceleration from the 6.6% growth recorded in Q1 and 1% in Q4 of 2024. Group EBITDA recorded double-digit growth in dollars as well, increasing by 10.6% in Q2, demonstrating strong momentum compared to 0.2% in Q1.