For the third quarter of 2025, Kyivstar Group Ltd’s total revenue increased by 20.9% year-on-year to UAH 12.3 billion (USD 297 million), while EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 21.5% to UAH 7.1 billion (USD 171 million).
This information comes from Kyivstar Group Ltd’s report for Q3 2025.
According to the report, direct digital revenue grew by 531% to UAH 1.5 billion (USD 35 million), accounting for nearly 12% of the company’s total revenue.
Kyivstar attributes this result to the consolidation of the Uklon service within the group in March 2025. The platform’s integration alone brought Kyivstar USD 24.7 million in revenue, USD 9.1 million in EBITDA, and USD 6.7 million in profit in just one quarter.
The company also continued developing its digital ecosystem: the number of multiplay service users (combining telecom and digital services) increased by 24.8% to 6.6 million, while the monthly audience for digital services grew by 49.4% to 13.5 million.
The report also notes that the average revenue per user (ARPU) rose by 14% to UAH 153. For the quarter, the EBITDA margin was 57.6%. Cash holdings amounted to USD 472 million, and the free cash flow over the past 12 months totaled USD 373 million.
For the full year 2025, Kyivstar expects revenue growth of 24–27% and EBITDA growth of 23–26% in hryvnia terms. In US dollar terms, revenue is projected to increase by 20–23% and EBITDA by 19–22%, assuming a stable exchange rate.
About Kyivstar Group Ltd.
Kyivstar Group Ltd. operates Ukraine's leading digital operator, JSC Kyivstar, serving more than 22.5 million mobile customers and over 1.2 million home internet fixed line customers as of September 30, 2025. Kyivstar Group Ltd. and its subsidiaries provide services across a wide range of mobile and fixed line technologies, including 4G, big data, cloud solutions, cybersecurity, digital TV, ride-hailing, and more. Together with VEON, Kyivstar intends to invest USD 1 billion in Ukraine during 2023-2027, through social investments in infrastructure and technological development, charitable donations and strategic acquisitions. Kyivstar Group Ltd. and its subsidiaries have been operating in Ukraine for more than 27 years.
