Veon Ltd. cash flow statement

In fiscal 2020, Veon Ltd.'s operations generated $2.44bn of cash; it spent $550m on capital projects, leaving free cash flow of $1.89bn.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Veon Ltd.: cash flow statement, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	2,033	1,875	2,475	2,515	2,949	2,443	—	—	—	—	—
Depreciation and amortisation	2,067	1,936	2,028	1,834	1,845	730	799	778	735	728	802
Capital spending	—	—	—	—	—	550	699	634	531	627	733
Free cash flow	—	—	—	—	—	1,893	—	—	—	—	—
Share buybacks	—	—	—	—	—	—	—	0	0	8	105

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Veon Ltd.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Veon Ltd.