VEON Ltd. revenue by segment VEON

Annual Quarterly

VEON Ltd. splits its revenue into 6 lines in its filings. The largest line in fiscal 2025, which ended Dec 31, 2025 was Telecommunication And Infrastructure at $3.6 billion, 83% of the total.

USD in millions. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017
Revenue	4,399	4,004	3,698	3,755	3,850	3,482	8,089	9,086	9,474
Service1	—	—	—	—	7,147 +5.3% share 185.6%	6,786 -9.2% share 194.9%	7,472 share 92.4%	—	—
Telecommunication And Infrastructure	3,637 +2.8% share 82.7%	3,538 +3.6% share 88.4%	3,414 share 92.3%	—	—	—	—	—	—
Equipment And Accessories	—	—	—	—	508 +30.9% share 13.2%	388 -16.2% share 11.1%	463 share 5.7%	—	—
Digital Financial Services	425 +34.9% share 9.7%	315 +70.3% share 7.9%	185 share 5.0%	—	—	—	—	—	—
Other Digital	337 +123.2% share 7.7%	151 +52.5% share 3.8%	99 share 2.7%	—	—	—	—	—	—
Other Revenue	—	—	—	—	133 +13.7% share 3.5%	117 -24.0% share 3.4%	154 share 1.9%	—	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. More on our methodology.

Company profile

Industry: Radiotelephone Communications (SIC 4812)
Listed as: VEON (Nasdaq)
Fiscal year ends: December 31
Incorporated in: Bermuda
Headquarters: Dubai (Difc)
SEC filer status: Large accelerated filer
SEC CIK: 1468091
Former names: VimpelCom Ltd. (until Mar 28, 2017)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.