VEON reports Q4 results, details financial targets for FY19 (2.41)
- Q4 revs were -3.1% y/y to $2.25 bln vs. the $2.18 mln analyst estimate; EBITDA was $714 mln vs. $753 mln a year ago
- VEON's Board of Directors approved a final dividend of US 17 cents per share, bringing total 2018 dividends to US 29 cents per share, in line with the Group's progressive dividend policy.
- FY19 Targets:
- Guidance for total revenue is low single-digit organic growth and for EBITDA is low to mid single-digit organic growth
- The target for equity free cash flow excluding licenses is approximately at the same level as FY 2018 (around USD 1 billion), based on currency rates as at 20 February 2019.
- VEON has committed to reduce the Group's cost intensity ratio by at least 1 percentage point organically per annum between 2019 and 2021, from 61.8% reported in FY 2018