Kyivstar’s parent holding company VEON has disclosed the financial and operational performance of the Uklon taxi service, the purchase of which the company announced the other day.
Kyivstar’s parent holding company VEON has disclosed the financial and operational performance of the Uklon taxi service, the purchase of which the company announced the other day.
According to the company’s data, Uklon’s revenue in 2024 amounted to $65 million. And revenue over the past three years (since 2021) has grown by an average of 30%.
In total, the company has made 100 million trips and 3 million deliveries.
In Ukraine, Uklon has over 100,000 driver-partners working in 27 cities.
As a reminder, on March 20, it became known that Kyivstar is buying 97% of Uklon for $155.2 million. Another 3% remains with one of the founders of the service.
If converted into hryvnias, the price of the deal is 6.45 billion. A large sum, but for Kyivstar it is more than affordable. Let me remind you that the mobile operator’s net profit for 2024 amounted to 11.3 billion hryvnias. That is, Uklon actually cost half of the buyer’s annual profit.
Regarding the Ukrainian unit of Uklon — LLC «Uklon Ukraine» — in 2024, according to Opendatabot, the company declared revenue of UAH 1.7 billion and net profit of UAH 232 million.
Although the numbers suggest that the amount of money passing through the Uklon platform may be significantly higher than this figure.
As stated in the announcement of the deal, 100,000 active driver-partners together fulfill more than 10 million Uklon orders every month.
The average check, as Uklon co-founder Serhiy Smus said in 2022, was 126 UAH in Ukraine at the time. And on Valentine’s Day this year (February 14, 2025), it jumped to 192 UAH.
If you simply multiply 10 million orders per month by UAH 126 of the average check, then the amount of money that passes through the platform per month will be UAH 1.260 billion. Over the year, it will be UAH 15.1 billion.
That is, you can focus on approximately the following order of figures. This amount of money is divided between the driver-partners (who get the majority) and the platform itself. Then the driver-partners themselves must pay tax on their income from the transportation services provided.
The commission that Uklon keeps for itself varies depending on the city. That is, if in Kyiv it is 23%, in Lviv it is 22%, then in Kharkiv it is 15%.
Assuming that the average commission in the country will be 20%, the Uklon platform can receive income in a year that will be approximately equal to 3 billion UAH (based on the company’s total turnover figure, which we calculated earlier — 15.1 billion UAH).
This is more than the revenue declared by Uklon Ukraine LLC for 2024 in Opendatabot, but given the active growth of the service, it can be assumed that this year the company may reach approximately this order of magnitude.
