Q4 2025 Kyivstar Group Ltd Earnings Call Transcript

Mar 13, 2026 / 02:00 PM GMT

Release Date Price: $11.07 (+8.53%)

Transcript

Key Points

Positve

Kyivstar Group Ltd (KYIV) reported a robust 26% year-over-year revenue growth in US dollars for 2025, with a 28% increase in the fourth quarter alone.
Digital services revenue increased 4.7 times in dollar terms for the full year, contributing 16% to total revenue, showcasing strong growth in this segment.
The company achieved a healthy cash flow, delivering $558 million in net cash flow from operating activities for the year.
Kyivstar Group Ltd (KYIV) successfully expanded its multiplay customer base, reaching 7.3 million, which represents 35% of its mobile customers, enhancing customer retention and ARPU.
The acquisition of Ukraine's leading online healthcare marketplace, Tabletki UA, is expected to be earnings accretive immediately, with significant cross-selling synergies anticipated.

Negative

The EU's 'Roam Like at Home' framework is expected to negatively impact Kyivstar Group Ltd (KYIV)'s top-line by approximately 1 billion gryvna, translating almost entirely into EBITDA.
The company's EBITDA guidance for 2026 appears conservative, with underlying business growth expected to be modest due to various factors including EU roaming impacts and digital business pressure on margins.
Kyivstar Group Ltd (KYIV) faces operational challenges due to energy costs and global energy price uncertainties, despite efforts to hedge these through investments like the Sunbeam acquisition.
The company anticipates a relative slowdown in revenue and EBITDA growth for 2026, reflecting a high comparison base and external uncertainties due to the ongoing war.
There is a potential risk of management bandwidth being stretched due to the integration of multiple acquisitions and the need to extract synergies from these new businesses.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KYIV.OQ - Kyivstar Group Ltd
Q4 2025 Kyivstar Group Ltd Earnings Call
Mar 13, 2026 / 02:00PM GMT

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Presentation
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So, yeah, Luke, Dan, Stefan, if you guys can turn cameras on or shriek if you fancy it.

Just need a couple, spotlights, and then Dan, if you could spotlight just because I'm on a browser so it's harder for me to do.

Actually I can't spell that. There we go.

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Yeah, Dan said he was stepping away for 2 secs.

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