Key Points – Kyivstar raised its full-year outlook for the second time after Q2 revenue increased 19% to $339 million, EBITDA rose 14% to $188 million, and equity free cash flow climbed 32% to $104 million. – Growth is shifting toward higher-value customers and digital services:…
gital revenue surged 83% to $74 million, while multi-play customers increased 24% and generated higher ARPU and lower churn despite a 3% decline in total mobile subscribers. – The company is investing in strategic growth and resilience through Uklon, healthcare and entertainment platforms, sovereign AI, Starlink services, and a 118 MW solar portfolio; net profit fell 6% due to a $21 million non-cash warrant valuation charge. Kyivstar Group (NASDAQ:KYIV) reported quarterly revenue of $339 million, up more than 19% year over year, as growth in its telecom operations and expanding digital ecosystem led the company to raise its full-year outlook for a second time
CEO Oleksandr Komarov said EBITDA increased nearly 14% to $188 million, while equity free cash flow rose more than 32% to $104 million. The company’s digital revenue increased 83% year over year to $74 million and represented 21.7% of total revenue, compared with just over 14% a year earlier. “Our telecom core is resilient. Our digital ecosystem keeps scaling,” Komarov said. “The two businesses fit each other.” Telecom growth driven by customer value and usage Telecom and infrastructure revenue rose nearly 9% to $265 million, generating EBITDA of $157 million at a 59% margin.
Digital operations produced $31 million in EBITDA, representing a 42% margin. Kyivstar’s mobile subscriber base declined nearly 3% from a year earlier to 21.8 million customers. Komarov attributed the decline primarily to customers discontinuing secondary, lower-revenue SIM cards, as well as demographic trends and seasonality.