Integrated Annual Report 2022
Who we are
Our mission
Transforming people's lives
VEON is a global digital operator that provides connected services to over 150 million customers in six high-growth markets. We are transforming people’s lives, empowering individuals and driving economic growth across six countries that are home to more than 7% of the world’s population.
Our strategy
"The traditional telecoms Company serves its customers with call and voice services for an average 32 of minutes per day. VEON's goal is 1440 minutes - to be relevant to each of them in every moment of every day through digital services that adapt as the lifestyles of our customers evolve." Kaan Terzioğlu, CEO
Our vision
To empower customers through technology, providing choice and opportunity through tailored digital solutions that match their needs.
Our range of digital services
From financial services to entertainment, education and healthcare – our offering is fit for the 21st century, which our customers may benefit from for 1440 minutes of their day.
International leadership team
We enjoy a diverse shareholder base with no single controlling shareholder, a Board of Directors with a majority of independent directors, and an international management team.
Our Brands
Ukraine
Pakistan
Bangladesh
Kazakhstan
Uzbekistan
Kyrgyzstan
Where we operate
Driving economic growth across six countries that are home to more than 7% of the world's population
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On November 2022, the Company signed an agreement to sell its Russian operations, which have been classified as ‘held for sale’ and 'discontinued operations' pending completion.
| Download per country |
Ukraine 1 |
Pakistan 2 |
Bangladesh 3 |
Kazakhstan 4 |
Uzbekistan 5 |
Kyrgyzstan 6 |
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| Unit | |||||||
| Population (estimate) | (million) | 43.8 million | 231.4 million | 169.4 million | 19 million | 35.5 million | 6.8 million |
| Key brands | |
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| 4G population coverage | (percent) | 94% | 57% | 81% | 87% | 78% | 92% |
| Total revenue | (USD, million) | 971 | 1,285 | 576 | 636 | 233 | 49 |
| Mobile customers | (three
months active, million) |
24.8 | 73.7 | 37.6 | 10.6 | 8.4 | 1.9 |
Numbers at a glance
in charitable contributions
benefitting from mobile literacy and skills development programmes
Leadership
Message from
our Chairman
Morten Lundal
Chairman
New VEON
A new VEON is emerging, a leaner Company with a sharper focus on emerging market growth and digital opportunities. The strategic opportunities this transformation offers is now a focus for the Board as we reposition the Group for long-term growth.
Message from
our CEO
Kaan Terzioğlu
Group Chief Executive Officer
Our digital operator strategy
In three years, our digital operator strategy has come full circle. It has unified our three business pillars of infrastructure, our telecom operations and digital assets into a single, coherent whole and offers an unrivalled customer experience in each of the six markets we serve.
CFO review
Joop Brakenhoff
Group Chief Financial Officer
A wealth of revenue opportunities
VEON entered 2022 with high ambitions. The success of our digital operator model opened up a wealth of revenue opportunities in all markets for the Group throughout 2022 and galvanised growth in our 4G customer base.
Strategic Pillars
1
INFRASTRUCTURE ACCELERATOR
By sharing our infrastructure with others, we boost investments in 4G networks. This generates revenues, thereby creating financial capital as well as reducing energy use, which lowers our negative impact on natural capital.
2
DIGITAL OPERATOR
We take our responsibility by fostering digital entrepreneurship, skills and literacy in our local communities. This positively affects our digital/ technological and social and relationship capitals.
3
VENTURES
We create digital assets that complement our businesses and contribute to our ambitions as a digital operator. In the emerging markets VEON operates in, ventures in fintech or entertainment are high potential assets that enhance our customer, technology and digital capital.
Creating a better future
PROSPERITY
Digital
operators
Investing in
our infrastructure
- Employment generation
- Innovation of products and services
- Community and social vitality
We believe that communications is a basic social need, connecting people and communities with resources essential for growth, well-being and development.
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OUR PEOPLE
- Dignity and equality
- Health and well-being
- Skills for the future
Our employee experience drives our customers' experience. We simply call it EX=CX. This drives how we select, motivate, develop, grow and retain our people.
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PRINCIPLES OF GOVERNANCE
- Governing purpose
- Quality of governing body
- Stakeholder engagement
- Ethical behaviour
- Risk and opportunity oversight
VEON is committed to responsible and effective corporate governance. Our governance arrangements are designed to promote integrity in everything we do.
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