Russia and Ukraine, where it operates the Beeline and Kyivstar<\/a> mobile networks respectively, are Veon<\/a>'s two biggest markets, followed by Pakistan and Kazakhstan.
Last week, Russia invaded Ukraine, the biggest attack on a European state since World War Two, prompting a response from other European countries and their allies in form of severe financial and operational sanctions.
\"The current geopolitical situation and conflict surrounding Russia and Ukraine has the potential to adversely affect our operations,\" the company said, adding it was closely monitoring sanctions imposed on Russia as well as tensions between the country and the United States, United Kingdom, and the European Union.
During an investor day in December, Veon spelt out its mid-term 2022-2024 ambitions, which included 10-14% compound annual growth rate (CAGR) in local currency of revenue and EBITDA over the period. It aimed at a double-digit revenue CAGR in the two countries.
In 2021, the group recorded a 10.1% year-on-year local currency growth of revenue to $7.79 billion, with core profit (EBITDA) growing 8.9% to $3.33 billion.
In October, it raised the EBITDA growth guidance to minimum 8% in local currency, and targeted high single-digit local currency growth in revenues.
Russia and Ukraine generated respectively $3.95 billion and $1.06 billion in revenues for the year, while Kyivstar<\/a>'s 4G customer base grew 30.5% year-on-year over the last quarter of 2021 to 12.1 million.
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