One of the largest telecom operators in Ukraine, Kyivstar, showed strong financial growth in the first quarter of 2025. The company’s revenue reached $255 million, a 37,1% increase compared to the same period last year.
One of the largest telecom operators in Ukraine, Kyivstar, showed strong financial growth in the first quarter of 2025. The company’s revenue reached $255 million, a 37,1% increase compared to the same period last year.
According to the official VEON press release, Kyivstar showed significant improvement in other key financial indicators.
Total operating income for January–March 2025 amounted to USD 255 million or UAH 10.6 billion, which is 37,1% more in foreign currency equivalent and 49,6% more in hryvnia, compared to the first quarter of 2024.
Adjusted EBITDA grew to $140 million. The increase is 50,5% in dollars and 64,6% in hryvnia. The EBITDA margin was an impressive 54,9%.
The company’s net profit in the first quarter reached 44 million US dollars or 1.8 billion UAH, which is 22,2% and 33,7% more, respectively, than in the first quarter of 2024. Profitability was 17,3%.
| Indicator | 1Q25 (USD) | 1Q24 (USD) | YoY change | 1Q25 (UAH) | 1Q24 (UAH) | YoY change |
| Operating income | $255 million | $186 million | +37.1% | 10.6 billion | 7.1 billion | +49.6% |
| Net profit | $44 million | $36 million | +22.2% | 1.8 billion | 1.4 billion | +33.7% |
| Adjusted EBITDA | $140 million | $93 million | +50.5% | 5.8 billion | 3.6 billion | +64.6% |
The average dollar to hryvnia exchange rate in the 1st quarter of 2025 was UAH 41.76, while a year earlier it was UAH 38.17.
In addition to financial results, the company announced the completion of the deal to purchase Uklon, the leading Ukrainian car-hailing service, as well as an increase in its stake in the Helsi medical platform.
Kyivstar is the leader of the Ukrainian telecom market, part of the international VEON group. The company is actively investing in the digital transformation of Ukraine, implementing innovative services and preparing for listing on the Nasdaq stock exchange. The first quarter of 2025 was evidence that the digital operator’s strategy brings stable financial growth even in an unstable market.
We remind you that our news feed also featured an article about Kyivstar’s Director of Business Development and Corporate Strategy. Zoya Dronshkevych spoke about the company’s plans to invest about $1 billion over 5 years to obtain 50% of its revenues from areas not related to telecom services.
