Special purpose
unaudited interim condensed consolidated financial statements
VEON Holdings B.V.
(a wholly-owned subsidiary of VEON Ltd.)
As of and for the three-month period ended March 31, 2019
TABLE OF CONTENTS | ||
Interim condensed consolidated statement of changes in equity ................................................ | 6 | |
Interim condensed consolidated statement of cash flows ............................................................ | 7 | |
General information about the Group .............................................................................................. | 8 | |
1 | General information ..................................................................................................................................... | 8 |
Operating activities of the Group...................................................................................................... | 9 | |
2 | Segment information.................................................................................................................................... | 9 |
3 | Income taxes ............................................................................................................................................. | 11 |
Investing activities of the Group..................................................................................................... | 12 | |
4 | Significant transactions.............................................................................................................................. | 12 |
5 | Property and equipment ............................................................................................................................ | 13 |
6 | Intangible assets........................................................................................................................................ | 13 |
Financing activities of the Group.................................................................................................... | 14 | |
7 | Other financial assets and liabilities........................................................................................................... | 14 |
8 | Cash and cash equivalents........................................................................................................................ | 16 |
9 | Dividends and capital distributions............................................................................................................. | 17 |
Additional information ..................................................................................................................... | 18 | |
10 | Related parties........................................................................................................................................... | 18 |
11 | Risks, commitments, contingencies and uncertainties............................................................................... | 19 |
12 | Events after the reporting period................................................................................................................ | 19 |
13 | Basis of preparation of the interim condensed consolidated financial statements ..................................... | 20 |
VEON Holdings B.V. | Special purpose unaudited interim condensed consolidated financial statements as of and for the period ended March 31, 2019
2
INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT
for the three-month period ended March 31
(In millions of U.S. dollars, except per share amounts) | Note | 2019 | 2018* |
Service revenues | 2,005 | 2,157 | |
Sale of equipment and accessories | 89 | 61 | |
Other revenues / other income | 31 | 33 | |
Total operating revenues | 2 | 2,125 | 2,251 |
Service costs | (370) | (439) | |
Cost of equipment and accessories | (90) | (59) | |
Selling, general and administrative expenses | (683) | (839) | |
Depreciation | (402) | (354) | |
Amortization | (93) | (123) | |
Impairment (loss) / reversal | (6) | (3) | |
Gain / (loss) on disposal of non-current assets | (7) | (17) | |
Operating profit | 474 | 417 | |
Finance costs | (207) | (211) | |
Finance income | 16 | 16 | |
Other non-operating gain / (loss), net | 5 | (12) | |
Net foreign exchange gain / (loss) | 12 | 11 | |
Profit / (loss) before tax from continuing operations | 300 | 221 | |
Income tax expense | 3 | (81) | (120) |
Profit / (loss) for the period from continuing operations | 219 | 101 | |
Profit / (loss) after tax from discontinued operations | - | (130) | |
Profit / (loss) for the period from discontinued operations | - | (130) | |
Profit / (loss) for the period | 219 | (29) | |
Attributable to: |
The owners of the parent (continuing operations) The owners of the parent (discontinued operations) Non-controlling interest
- 77
- (130)
- 24
219(29)
- Prior year comparatives are restated following the disposal of Italy Joint Venture and retrospective reversal of reclassification of Deodar assets and liabilities as held for sale and retrospective recognition of depreciation and amortization charges in respect of Deodar in 2018
The accompanying notes are an integral part of these interim condensed consolidated financial statements.
VEON Holdings B.V. | Special purpose unaudited interim condensed consolidated financial statements as of and for the period
ended March 31, 2019 | 3 |
INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
for the three-month period ended March 31
(In millions of U.S. dollars) | Note | 2019 | 2018* |
Profit / (loss) for the period | 219 | (29) | |
Items that may be reclassified to profit or loss | |||
Net movement on cash flow hedges | - | (3) | |
Share of other comprehensive income / (loss) of joint ventures | - | (12) | |
Foreign currency translation | 52 | 33 | |
Other comprehensive income / (loss) for the period, net of tax Total comprehensive income / (loss) for the period, net of tax Attributable to:
- 18
- (11)
The owners of the parent | 249 | (25) | |
Non-controlling interests | 22 | 14 | |
271 | (11) | ||
- Prior year comparatives are restated following the disposal of Italy Joint Venture and retrospective reversal of reclassification of Deodar assets and liabilities as held for sale and retrospective recognition of depreciation and amortization charges in respect of Deodar in 2018
The accompanying notes are an integral part of these interim condensed consolidated financial statements.
VEON Holdings B.V. | Special purpose unaudited interim condensed consolidated financial statements as of and for the period
ended March 31, 2019 | 4 |
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
as of
March 31, | December 31, | |||
(In millions of U.S. dollars) | Note | 2019 | 2018 | |
Assets | ||||
Non-current assets | ||||
Property and equipment | 5 | 7,091 | 4,925 | |
Intangible assets | 6 | 1,808 | 1,841 | |
Goodwill | 6 | 3,951 | 3,816 | |
Deferred tax assets | 190 | 197 | ||
Other assets | 150 | 193 | ||
Total non-current assets | 13,190 | 10,972 | ||
Current assets | ||||
Inventories | 166 | 141 | ||
Trade and other receivables | 953 | 691 | ||
Other financial assets | 7 | 1,721 | 761 | |
Current income tax assets | 114 | 112 | ||
Other assets | 308 | 357 | ||
Cash and cash equivalents | 8 | 1,225 | 1,767 | |
Assets classified as held for sale | 21 | 17 | ||
Total current assets | 4,508 | 3,846 | ||
Total assets | 17,698 | 14,818 | ||
Equity and liabilities | ||||
Equity | ||||
Equity attributable to equity owners of the parent | 4,775 | 4,180 | ||
Non-controlling interests | (898) | (891) | ||
Total equity | 3,877 | 3,289 | ||
Non-current liabilities | ||||
Other financial liabilities | 7 | 8,329 | 6,567 | |
Provisions | 107 | 93 | ||
Deferred tax liabilities | 174 | 180 | ||
Other liabilities | 27 | 37 | ||
Total non-current liabilities | 8,637 | 6,877 | ||
Current liabilities | ||||
Trade and other payables | 1,858 | 1,775 | ||
Other financial liabilities | 7 | 1,734 | 1,290 | |
Provisions | 159 | 186 | ||
Current income tax payables | 195 | 196 | ||
Other liabilities | 1,229 | 1,201 | ||
Liabilities associated with assets held for sale | 9 | 4 | ||
Total current liabilities | 5,184 | 4,652 | ||
Total equity and liabilities | 17,698 | 14,818 | ||
The accompanying notes are an integral part of these interim condensed consolidated financial statements.
VEON Holdings B.V. | Special purpose unaudited interim condensed consolidated financial statements as of and for the period
ended March 31, 2019 | 5 |
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VEON Ltd. published this content on 05 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 December 2022 10:41:07 UTC.