Kyivstar Group Ltd. reported full‑year 2025 revenue of $1,157 million, up 25.9% from $919 million in FY24. The increase was driven by a 19.3% rise in mobile ARPU to $3.60 and a 5.9‑percentage‑point migration to 4G data plans, which together lifted the average revenue per user. Digital services grew 4.7‑fold to $124 million, representing 10.7% of total revenue, and multiplay customers—those using voice, 4G data and at least one digital app—reached 7.3 million, or 35% of one‑month‑active mobile users.
In the fourth quarter, revenue climbed 28.4% to $321 million, with mobile ARPU up 18.2% to $3.80. Digital revenue surged 6.1‑fold to $50 million, accounting for 15.7% of quarterly sales, and the Uklon ride‑hailing platform contributed $34 million. Multiplay customers grew 18.0% to 7.3 million, maintaining the same share of active users as the full year.
Full‑year EBITDA reached $648 million, a 21.7% increase, giving a margin of 56.0% versus 53.5% in the quarter. The quarter’s EBITDA of $172 million reflected a 53.5% margin, slightly lower than the 56.4% margin in the same period a year earlier, largely due to higher capex intensity of 36% of revenue versus 30.3% for the year. Adjusted earnings per share of $1.32 beat consensus of $1.19 by $0.13, while the quarter’s EPS of $0.37 surpassed the $0.32 estimate.
Management guided 2026 revenue growth to 8%–11% and EBITDA growth to 5%–8%, signaling confidence in continued digital expansion and cost discipline. CEO Oleksandr Komarov said, “We enter 2026 with strong momentum, supported by accelerating revenue growth. In 4Q25, digital revenue expanded more than sixfold, reaching nearly 16% of total revenue. Our 30% Y/Y revenue growth in hryvnia reflects successful execution of our digital expansion roadmap and deeper group‑wide synergies, with meaningful contributions across business verticals.” The company continues to invest in network resilience amid wartime conditions, while the growing demand for digital services and the integration of Uklon provide tailwinds.
Investors responded positively to the results, reflecting confidence in Kyivstar’s digital transformation and earnings beat. The company’s guidance and management commentary suggest a steady trajectory of growth and profitability despite ongoing headwinds.
Kyivstar’s performance underscores its successful shift from a traditional telecom operator to a diversified digital ecosystem, with higher‑margin services driving profitability. The combination of a robust digital mix, disciplined cost management, and strategic investments positions the company to sustain growth in a challenging environment.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.