Kyivstar Group Q2 earnings call highlights. July 31, 2026 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: digital 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. * Interested in Kyivstar Group? Here are five stocks we like better. 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. He said the company's market share remained steady at approximately 47% based on internal and third-party estimates. Management emphasized customer quality over subscriber volume. Annualized churn declined by almost one percentage point to just over 14%, while mobile average revenue per user, or IRPU, increased more than 11% to $3.90. Monthly data usage per customer rose more than 18% to nearly 15 GB, and 4G penetration exceeded 70%. Fixed broadband customers increased nearly 11% to 1.3 million households. Nearly half of those households also subscribe to Kyivstar TV, according to Komarov. The company reported 8.1 million multi-play customers, up almost 24% year over year. These customers use voice, data and at least one digital application. Multi-play customers generated monthly ARPU of $5.80, compared with $3.90 for mobile-only customers, and also had lower churn, Komarov said. Digital ecosystem expands across mobility, health and entertainment. Uklon, Kyivstar's mobility platform, generated nearly $33 million in quarterly revenue, up more than 50% year over year, and more than $12 million in EBITDA. Active Uklon customers grew 8% to 5.2 million, while rides increased more than 4% to 43 million and deliveries rose almost 26% to 1.4 million. Komarov said Uklon's reported growth included both underlying expansion in ride-hailing and delivery and a change in accounting treatment that grossed up certain business-to-business revenue. The company has agreed to acquire E-wings, an electric scooter operator serving 11 Ukrainian cities, and is piloting same-day flower delivery through Uklon Store in Kyiv. Discover more Stock Average Calculator Dividend Screener Tool Stock Market Holidays In healthcare, Helsi served 5 million customers during the quarter and increased revenue nearly 36% to $2.4 million. Premium subscriptions more than doubled from 57,000 at the end of the prior year to more than 109,000, supported by family medical plans, health insights and distribution through Kyivstar mobile bundles. Tabletki, the pharmaceutical marketplace consolidated in February, generated $7.8 million in revenue and $6.2 million in EBITDA. Customers booked $376 million in gross merchandise value during the quarter, while Kyivstar recognized commission and service fees as revenue. Tabletki had 6.3 million customers, 15 million average monthly bookings and more than 14,500 partner pharmacies. Management said it is initially focused on integrating Tabletki while evaluating longer-term synergies with Helsi, including a connected consumer journey from medical appointments and prescriptions to medicine orders. Komarov said potential delivery integration with Uklon is also under consideration. Kyivstar TV's customer base increased almost 48% year over year to 3.6 million, with revenue reaching nearly $14 million. Komarov noted that the reported growth rate was affected by a move to gross revenue recognition in September of the prior year, though he cited customer growth and exclusive content as underlying drivers. Starlink, AI and energy investments. More than 6 million customers have used Kyivstar's Starlink Direct to Cell service, which now offers light data for essential applications in areas without terrestrial coverage. SMS service is included for all Kyivstar customers without an additional charge, while light data is embedded in premium plans or available for an added monthly fee. The company is also an official reseller of Starlink fixed satellite broadband services and hardware for Ukrainian businesses and public institutions. Komarov said he does not view Starlink as a significant competitive issue for residential fixed broadband because Ukraine has high fiber penetration and terrestrial service can offer higher capacity and stability. Kyivstar is pursuing sovereign artificial intelligence infrastructure, including Syaivo, its Ukrainian large language model. The company's Syaivo 4B model entered beta testing during the quarter. In June, Kyivstar signed a memorandum with Ukraine's Ministry of Economy to explore cooperation on sovereign AI infrastructure. Management said any associated investment would remain within the company's existing capital-expenditure framework. In May, Kyivstar completed the acquisition of six solar power plants in the Lviv region with 105 MW of combined capacity for roughly $81 million. Including its existing Sunvin 11 facility, the company now has 118 MW of solar capacity, with expected output equivalent to about 30% of its annual telecom electricity consumption. Komarov said the solar portfolio is intended to improve energy independence and hedge electricity costs, which he described as Kyivstar's largest single operating expense and fastest-growing cost category. Profitability, balance sheet and updated guidance. Net profit declined nearly 6% year over year to $77 million, or $0.33 per share. CFO Taner Kızıltoprak said the decrease was driven by a non-cash $21 million fair-value charge related to listed warrants. The warrants' fair-value liability rose to $49 million at the end of June from $28 million at the end of March. "Without the warrant item, [net profit] would have been $98 million," Kızıltoprak said. Capital expenditures totaled $59 million, or 17% of quarterly revenue. The company ended June with $364 million in cash and equivalents, while gross debt excluding leases was $88 million. Excluding leases, Kyivstar reported net liquidity of $277 million. * Full-year revenue growth guidance was raised to 21%-23% in Ukrainian hryvnia and 14%-16% in U.S. dollars. * Full-year EBITDA growth guidance was raised to 17%-19% in hryvnia and 9%-12% in U.S. dollars. * Capital-expenditure intensity is expected to remain at 21%-24% of revenue. Kyivstar said it will hold its first Capital Markets Day on Nov. 16 in New York, where it plans to provide a medium-term update on strategy, ecosystem unit economics and capital allocation. About Kyivstar Group (NASDAQ:KYIV). Kyivstar Group NASDAQ: KYIV is a leading Ukrainian telecommunications operator that provides a broad range of consumer and business communications services. The company operates one of Ukraine's largest mobile networks and offers voice, messaging and mobile broadband services over 3G and 4G/LTE technologies. In addition to mobile services, Kyivstar supplies fixed-line broadband and home internet access, serving residential customers with connectivity and related value-added services. For enterprise and public sector customers, Kyivstar delivers a portfolio of business solutions that includes fixed and mobile data plans, machine-to-machine (M2M) and Internet of Things (IoT) connectivity, and ICT services intended to support digital transformation. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Kyivstar Group, you'll want to hear this. 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Kyivstar has opened a new office at Rockefeller Center in New York City, marking a significant milestone for the first Ukrainian company listed on a US stock exchange. The office, located at 1270 Avenue of the Americas, will serve as a base for engagement with US investors, commercial partners, and the international business community. VEON, Kyivstar's parent company, announced the opening will strengthen its presence in US capital markets. The office will not undertake commercial or operational functions but will support meetings and knowledge-sharing initiatives whilst showcasing Ukrainian innovation. The opening was marked by a ribbon-cutting ceremony attended by VEON's board, major investors, and US government representatives. Kyivstar serves over 22 million mobile customers and 1.2 million fixed-line internet customers in Ukraine.

Kyivstar opens New York office at Rockefeller Center, deepening connection to U.S. Investors and international partners. The office establishes a dedicated investor relations presence in the U.S for the first Ukrainian company listed on a U.S. stock exchange, supporting growing engagement with industry partners and the broader international business community. NEW YORK and KYIV, Ukraine, July 29, 2026 (GLOBE NEWSWIRE) - Kyivstar Group Ltd. (Nasdaq: KYIV; KYIVW), the parent company of JSC Kyivstar ("Kyivstar"), Ukraine's leading digital operator and part of VEON Group (Nasdaq: VEON), today announced the opening of its office at Rockefeller Center in New York City, marking a significant milestone in the Company's international expansion following its Nasdaq listing in August 2025 as the first Ukrainian company to list on a U.S. stock exchange. Located at 1270 Avenue of the Americas, at the heart of one of the world's leading business and financial centers, Kyivstar's New York office will support the Company's investor relations and communications activities and strengthen its presence in the United States. The office will serve as a base for engagement with the U.S. investor community, business and industry partners, and the broader international business community. The move underlines Kyivstar's growing engagement with the U.S. capital markets at a moment of growing investor focus on emerging market growth opportunity. The office will not undertake commercial, contracting or operational functions on behalf of the Group. The opening comes two days ahead of Kyivstar Group's 2Q2026 earnings announcement on July 31, which will be hosted in person in New York for the first time. "The opening of our New York City office represents an important milestone in Kyivstar's international journey and expansion," said Oleksandr Komarov, President and CEO of Kyivstar Group. "As a Nasdaq-listed company, establishing a permanent presence in the financial heart of the U.S. reflects our commitment to building a global business while staying deeply rooted in Ukraine. The office will help us strengthen relationships with investors and international business partners, foster collaboration across industries, and amplify Ukraine's story of innovation and long-term opportunity with the global business community." The New York office will provide Kyivstar with a permanent presence in one of the world's leading business centers and create opportunities for meetings and engagement with international partners and stakeholders. It will also serve as a platform to showcase Ukrainian innovation and the resilience of Ukrainian business, highlighting the country's continued progress in digital transformation despite the challenges of the ongoing war. Moreover, the new location will provide a New York home for the "Invest In Ukraine NOW!" campaign, which was launched by VEON and Kyivstar in August 2025. The opening of the New York office reflects Kyivstar's long-term commitment to transparency, strong corporate governance and international growth as the Company continues to expand its global footprint and deliver sustainable long-term value for shareholders and customers alike. About Kyivstar Group Ltd. Kyivstar Group Ltd. is a Nasdaq-listed holding company that operates JSC Kyivstar, Ukraine's leading digital operator and the first Ukrainian company to list on a U.S. stock exchange. Kyivstar Group Ltd.'s companies provide a broad range of connectivity and digital services, including mobile and fixed-line voice and data, ride-hailing, e-health, digital TV, and enterprise solutions such as Big Data, cloud, and cybersecurity. Nasdaq tickers: KYIV; KYIVW About JSC Kyivstar JSC Kyivstar is Ukraine's leading digital operator, serving more than 22.0 million mobile customers and over 1.2 million home internet fixed line customers as of March 31, 2026. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, cloud solutions, cybersecurity services, digital TV, and more. JSC Kyivstar is wholly owned by Kyivstar Group Ltd. (Nasdaq: KYIV; KYIVW), whose shares are traded on the U.S. stock exchange Nasdaq. Disclaimer This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of Kyivstar Group or any other entity, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification of such securities under the securities laws of any such jurisdiction. Contact information Kyivstar Group Ltd Investor Relations [email protected]