May 7, 2020 / 5:30 AM / a month ago

BRIEF-Veon Q1 EBITDA Down At 920 Million Dollars

May 7 (Reuters) - VEON LDT:

* VEON REPORTS BALANCED 1Q20 RESULTS AND PROVIDES OPERATIONAL UPDATE FOR COVID-19 IMPACT

* GROUP REMAINS WELL POSITIONED WITH A STRONG BALANCE SHEET AND ACCESS TO SUFFICIENT LIQUIDITY TO ALLOW VEON TO WEATHER CURRENT MARKET UNCERTAINTY

* Q1 EBITDA: USD 920 MILLION, -1.8% YOY IN LOCAL CURRENCY; -29.1% YOY ON A REPORTED BASIS

* Q1 OPERATIONAL CAPEX: USD 368 MILLION

* Q1 TOTAL REVENUE: USD 2,097 MILLION, +0.3% YOY IN LOCAL CURRENCY(2 ); -1.3% YOY ON A REPORTED BASIS

* GIVEN CONTINUED UNCERTAINTY RELATED TO COVID-19 PANDEMIC AND LIKELY IMPACT ON GROUP’S FINANCIAL PERFORMANCE IN COMING QUARTERS, WE BELIEVE IT IS NO LONGER PRUDENT TO GIVE FINANCIAL GUIDANCE FOR 2020

* Q1 MOBILE SUBSCRIBER BASE: 211 MILLION TOTAL MOBILE SUBSCRIBERS, FLAT YOY

* GENERATED USD 104 MILLION OF EQUITY FREE CASH FLOW AFTER LICENSES AND EXCLUDING CAPITALIZED LEASES DURING 1Q20 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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