VEON Reveals 2024 Annual Report Focused on Sustainable Growth
VEON Unveils Integrated Annual Report for 2024
VEON Ltd. (Nasdaq: VEON) recently published its 2024 Integrated Annual Report, highlighting a year characterized by impressive operational efficiency and financial growth. The report showcases VEON's commitment to not only deliver strong financial results but also positively impact the communities it serves.
Key Highlights of the 2024 Report
This integrated annual report is a critical communication tool for stakeholders ahead of the forthcoming Annual General Meeting. It summarizes notable accomplishments during the reporting period and outlines the company's governance structure, along with its remuneration report.
CEO's Vision for Sustainable Growth
Kaan Terzioglu, CEO of VEON, expressed pride in the company’s efforts to support underserved communities. He emphasizes that the 2024 report reflects VEON's dedication to sustainable growth through innovation and cloud-based solutions which enhance user experiences, thereby driving organizational growth.
Driving Digital Transformation
By the close of 2024, VEON had successfully engaged 122 million active users across its extensive digital services. These services range from fintech solutions to engaging online entertainment, ensuring both personal and professional growth across various sectors.
AI Innovations and Offerings
In pursuit of its AI1440 ambition, VEON has rolled out AI-driven solutions including Kaz-LLM in Kazakhstan, paving ways for enhanced financial inclusion and data utilization. These advancements ensure that users benefit from state-of-the-art technology and services.
Commitment to Community and Infrastructure
VEON continued its firm support for Ukraine, channeling substantial investments into its digital infrastructure. Collaborating with Starlink to deliver satellite services reflects VEON's commitment to maintaining connectivity and enhancing digital service access across the region.
Environmental Commitments
2024 also saw VEON make substantial strides in energy efficiency. The increase in the number of base transceiver stations using energy-saving technologies illustrates VEON's commitment to sustainable operations, powering a significant portion of its infrastructure with renewable energy.
Enhancements in Corporate Governance
VEON’s report outlines significant improvements in governance and accessibility for investors through the consolidation of shares on the Nasdaq in the United States. Relocating to the Dubai International Financial Center marks a strategic move to connect further with its operational markets.
Focus on Human Capital Development
The company invested significantly in employee development, with training expenditures rising to USD 4.4 million in 2024. Enhancing workplace conditions and launching initiatives to support women in the workforce were key aspects of this investment.
Robust Financial Performance
VEON reported a year of solid financial performance, with an increase in Group revenues by 8.3% compared to the previous year. The digital services segment showed significant growth, representing an essential part of the overall financial success.
Looking Forward
As VEON continues to innovate and adapt, its commitment to its users, community, and stakeholders remains a focal point. The strategies deployed not only position the company as a leader in digital services but also resonate with its broader goals of promoting sustainable growth.
Frequently Asked Questions
What does the 2024 Integrated Annual Report highlight?
The report emphasizes VEON's strong financial performance, digital transformation, and sustainable growth commitments.
What is VEON's main focus in terms of community support?
VEON aims to invest significantly in digital infrastructure and services, particularly in underserved regions such as Ukraine.
How much did VEON invest in employee development in 2024?
VEON invested USD 4.4 million in employee training and development in 2024, a substantial rise from the previous year.
What were VEON's financial results for 2024?
VEON reported an 8.3% increase in Group revenues year-on-year, demonstrating solid financial growth.
How is VEON integrating AI into its services?
VEON is deploying AI solutions to enhance financial inclusion and support data-driven decisions across its markets.
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