Kyivstar revenue rallies 26% as digital pivot and Starlink integration scale

Kyivstar Group (NASDAQ:KYIV), the first Ukrainian company to list on the Nasdaq, delivered a robust performance for fiscal year 2025, signaling that its evolution into a diversified digital operator is successfully offsetting the challenges of a volatile operating environment.

The company reported total revenue of $1.157 billion for the year ended Dec. 31, 2025, representing a 25.9% increase year-over-year.

Fourth-quarter revenue climbed 28.4% to $321 million, driven by a surge in digital service adoption and resilient demand for high-speed connectivity.

EBITDA for the full year rose 25.8% to $648 million, maintaining a strong margin of 56%.

Adjusted net profit reached $289 million, or $1.32 per share, though GAAP results were impacted by a one-time non-cash charge related to the company’s 2025 public listing.

A primary driver of the results was the explosive growth of Kyivstar’s digital segment.

Digital revenue grew 4.7-fold to $124 million, now accounting for nearly 11% of total group revenue.

The company’s "multiplay" customer base—those utilizing at least one digital service alongside mobile connectivity—reached 7.3 million users.

This ecosystem was further strengthened by the $160 million acquisition of Tabletki.ua, Ukraine's leading digital pharmacy marketplace, which recorded 14 million monthly reservations in 2025.

Technological leadership also took center stage at the recent Mobile World Congress, where Kyivstar announced it has reached 5 million customers connected via Starlink Direct to Cell satellite technology.

This partnership with SpaceX has transformed Kyivstar into one of the world's largest providers of satellite-to-mobile connectivity, ensuring life-saving communication in areas where terrestrial networks are unavailable.

Looking ahead to 2026, Kyivstar issued guidance forecasting USD revenue growth of 8% to 11% and EBITDA growth of 5% to 8%.