Kyivstar increases its EBITDA by 30% in 2025
Kyivstar, Ukraine’s largest mobile operator, increased its EBITDA profit in 2025 by 30% to UAH 27 billion, while in dollar terms, the increase was 25.8% to $648 million, according to the company’s annual report published on Friday.
"We continue to invest in Ukraine’s digital future, maintaining our market leadership and fulfilling our long-term strategy as a digital operator," Kyivstar CEO and President Oleksandr Komarov is quoted as saying in the document.
According to a report by Kyivstar Group Ltd, the company increased its revenue in 2025 compared to 2024 by 30.3%, to UAH 48.2 billion, and in dollars, the growth was 25.9%, to $1.157 billion.
Adjusted net profit for 2025 increased by 1.1% to $286 million (in hryvnia terms, the increase was 3.9%), and earnings per share were $1.32.
At the same time, unadjusted net profit decreased by 56.2% to $124 million (in hryvnia terms – by 54.7%), earnings per share – to $0.57, and the difference with adjusted figures arose as a result of non-cash expenses in the amount of $162 million related to the listing of Kyivstar in the third quarter of 2025.
The company clarified that in the fourth quarter of last year, EBITDA increased by 23.1% to UAH 7.2 billion, while revenue grew by 30.1% to UAH 13.5 billion. In dollar terms, EBITDA grew by 21.7% to $172 million, while revenue grew by 28.4% to $321 million.
Net profit in the fourth quarter of 2025 decreased by 3.2% to $90 million (in hryvnia terms, by 2.2%).
According to the report, Kyivstar increased its net cash flow from operating activities by 29.8% last year to $558 million (in hryvnia terms – by 34.2%), and its capital investments amounted to $351 million, including $128 million in the fourth quarter.
It is noted that revenue from digital platforms in 2025 increased 4.9-fold to UAH 5.2 billion, while in dollar terms this growth was 4.7-fold to $124 million, reaching 10.7% of the revenue structure.
In the fourth quarter of 2025, revenue from digital platforms jumped 6.4 times to UAH 2.1 billion, and in dollar terms, 6.1 times to $50 million, reaching 15.7% of total revenue.
The number of Kyivstar’s multiplayer customers grew by 18% last year to 7.3 million, or 35% of the monthly active mobile customers, while the total number of mobile subscribers fell from 23 million to 22 million, and the number of fixed-line subscribers increased from 1.1 million to 1.2 million.
At the same time, the ARPU indicator for the past year increased by 19.3% to $3.6 (in hryvnia terms – by 23.5%).
The report also indicates that the total number of digital monthly active users reached 15 million by the end of 2025 (13.5 million in the third quarter). Specifically, Uklon had 3.8 million users (3.6 million), Helsi had 2.5 million, KyivstarTV had 2.5 million (2.1 million), and MyKyivstar had 6.2 million (5.2 million).
