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DUBAI - Global digital operator VEON Ltd. (NASDAQ:VEON) has announced the appointment of Anand Ramachandran as its new Corporate Development Officer, set to take his position from May 1, 2025. Ramachandran, who previously served as Chief of Staff at VEON since September 2024, will now oversee the company’s Mergers & Acquisitions and Investor Relations teams.
With a career spanning nearly three decades, Ramachandran brings a wealth of experience in international financial markets and investor relations to his new role. His background includes a tenure at Singapore Telecom as Vice President of Business Management in the Group CEO’s Office, as well as strategic roles in global investment banks and large telecom companies.
VEON Group CEO Kaan Terzioglu commended Ramachandran’s strategic expertise and leadership, highlighting his significant contributions to the company’s strategic initiatives. Terzioglu expressed confidence that Ramachandran’s experience will be highly beneficial as VEON continues to pursue its strategic goals.
For his part, Ramachandran expressed enthusiasm for his new role, emphasizing his commitment to driving sustainable development and reinforcing VEON’s position in the global markets. He acknowledged the group’s potential for growth and innovation, and his anticipation of working with the company’s teams and stakeholders.
VEON, which provides converged connectivity and digital services to nearly 160 million customers, operates in six countries that collectively represent over 7% of the world’s population. The company maintains impressive gross profit margins of 87% and trades at an attractive P/E ratio of 6.8. According to InvestingPro analysis, VEON currently appears undervalued, with strong fundamentals supported by a "GREAT" financial health score. The company aims to transform lives through technology-driven services that empower individuals and contribute to economic growth.
This appointment is part of VEON’s ongoing efforts to strengthen its leadership as it navigates a period of growth and innovation. The information regarding Ramachandran’s appointment is based on a press release statement from VEON. For deeper insights into VEON’s financial health and growth prospects, including 8 additional ProTips and comprehensive valuation metrics, visit InvestingPro, where you’ll find detailed analysis in our exclusive Pro Research Report.
In other recent news, VEON Ltd reported a strong financial performance for the fourth quarter of 2024, with total revenue reaching $4 billion, marking an 8.3% increase from the previous year. The company’s digital revenue rose significantly by 63%, contributing $460 million to the overall growth. Benchmark analysts raised the price target for VEON shares from $56 to $60, maintaining a Buy rating, following the company’s robust earnings report and strategic initiatives. VEON’s strategic shift towards an asset-light model was underscored by the recent sale of its subsidiary Deodar’s tower assets for $563 million, enhancing the company’s focus on digital revenue growth.
Additionally, VEON announced a partnership with Airspan Networks to bolster Ukraine’s telecommunications infrastructure, as part of a $1 billion investment plan to rebuild Ukraine’s digital framework from 2023 to 2027. This collaboration aims to enhance communication resilience with advanced network solutions. Meanwhile, VEON’s earnings call revealed plans for a second phase of a $35 million share buyback, reflecting the company’s commitment to shareholder value.
The company also outlined its expectations for future growth, projecting a revenue increase of 12-14% in local currency for 2025, with EBITDA growth anticipated at 13-15%. VEON’s focus remains on expanding its digital services and leveraging its market position in frontier markets, supported by strategic partnerships and asset sales.
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