Veon raises annual revenue outlook on dollar tailwinds
The Dubai-based telecoms group increased its 2026 revenue growth outlook to 11%-14% after first-quarter revenue rose 17% to $1.1 billion. CEO Kaan Terzioglu attributed the gains to a softer U.S. dollar and strong digital growth across frontier markets like Pakistan and Ukraine.
VEON LTD raised its full-year revenue growth forecast on Wednesday after a weaker dollar drove a 17% increase in first-quarter sales. The Dubai-based telecom group now expects 2026 revenue to grow 11% to 14% in dollar terms, compared with previous guidance of 9% to 12%. Currency shifts in frontier markets have emerged as a significant earnings driver for the group, contrasting with many global firms facing headwinds from volatile exchange rates.
### Currency Tailwinds Lift Frontier Earnings First-quarter revenue reached $1.1 billion, while EBITDA rose 17.7% to $517 million. Chief Executive Kaan Terzioglu told Reuters that macroeconomic shifts in the United States are creating a looser dollar environment that benefits VEON's reporting. This trend increased the value of revenue earned in local currencies across Ukraine, Pakistan, and Bangladesh.
