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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2022
Disclosure of operating segments [abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Management analyzes the Company’s operating segments separately because of different economic environments and stages of development in different geographical areas, requiring different investment and marketing strategies.
Management evaluates the performance of the Company’s segments on a regular basis, primarily based on earnings before interest, tax, depreciation, amortization, impairment, gain / loss on disposals of non-current assets, other non-operating gains / losses and share of profit / loss of joint ventures and associates (“Adjusted EBITDA”) along with assessing the capital expenditures excluding certain costs such as those for telecommunication licenses and right-of-use assets (“CAPEX excl. licenses and ROU”). Management does not analyze assets or liabilities by reportable segments.

Reportable segments consist of Pakistan, Ukraine, Kazakhstan, Uzbekistan and Bangladesh for 2022 (in 2021, Russia was also considered a reportable segment). Following the announcement to sell the Russian operations on November 24, 2022, the Russian operations have, in line with the IFRS 5 requirements, been classified as a discontinued operation and accounted for as an “Asset held for sale”. Following the exercise of the related put option on July 1, 2021, the Algerian operations were classified as a discontinued operation and accounted for as an “Asset held for sale”, in line with the IFRS 5 requirements, and the sale of our stake in the Algerian operations was completed on August 5, 2022. Refer to Note 10 for further details.

We also present our results of operations for “Others” and “HQ and eliminations” separately, although these are not reportable segments. “Others” represents our operations in Kyrgyzstan and Georgia and “HQ and eliminations” represents transactions related to management activities within the Group. See Note 9 Significant Transactions for details on the sale of our former Georgia operations.

Financial information by reportable segment for the periods ended December 31 is presented in the following tables. Inter-segment transactions are not material and are made on terms which are comparable to transactions with third parties.
Total revenueAdjusted EBITDACAPEX excl licenses and ROU

20222021*2020*20222021*2020*20222021*2020*
Pakistan**1,285 1,408 1,233 654 643 612 258 318 249 
Ukraine971 1,055 933 575 704 630 177 203 179 
Kazakhstan636 569 479 322 307 265 122 134 119 
Uzbekistan233 194 198 124 89 68 64 34 52 
Bangladesh576 564 537 210 235 228 199 89 126 
Others66 81 125 26 41 22 16 25 33 
HQ and eliminations(12)(21)(23)(164)(179)(200)5 3 18 
Total3,755 3,850 3,482 1,747 1,840 1,625 841 806 776 
*Prior year comparatives for the years ended December 31, 2021 and 2020 are adjusted following the classification of Russia as a discontinued operation (see Note 10).
**In 2022, Pakistan Adjusted EBITDA includes the impact of SIM tax reversal. refer to Note 3 and Note 4.
The following table provides the reconciliation of consolidated Profit / (loss) before tax from continuing operations to Adjusted EBITDA for the years ended December 31:
20222021*2020*
Profit / (loss) before tax from continuing operations802464 373 
Depreciation557 605 553 
Amortization221 194 177 
Impairment loss / (reversal)(107)27 62 
(Gain) / loss on disposal of non-current assets1 (9)10 
(Gain) / loss on disposal of subsidiaries(88)— — 
Finance costs583 591 569 
Finance income(32)(13)(19)
Other non-operating (gain) / loss(9)(26)(84)
Net foreign exchange (gain) / loss(181)7 (16)
Total Adjusted EBITDA1,747 1,840 1,625 
*Prior year comparatives for the years ended December 31, 2021 and 2020 are adjusted following the classification of Russia as a discontinued operation (see Note 10).