Kyivstar Group Ltd ("Kyivstar," the "Group") 1Q26 results highlights
Total revenue increased 26.6% year-on-year ("YoY") to USD 323 mn (31.3% YoY to UAH 13.9 bn).
EBITDA rose 23.5% YoY to USD 173 mn (28.5% YoY to UAH 7.5 bn), with an EBITDA margin of 53.5%.
Net profit for the quarter was USD 85 mn, with earnings per share of USD 0.37.
Digital revenues grew 256.6% YoY to USD 67 mn (270.3% YoY to UAH 2.9 bn), representing 20.9% of total revenue. Digital EBITDA was USD 29 mn (42.7% margin).
Multiplay customers rose 31.6% YoY to 8.1 mn, representing 39.6% of one-month-active mobile customers.
Capital expenditures excluding licenses and ROU totaled USD 67 mn (UAH 2.9 bn), with LTM capex intensity of 29.9% (20.9% for 1Q26) reflecting continued investment in network resilience and targeted reinvestment.
Cash, cash equivalents and deposits stood at USD 353 mn, supported by equity free cash flow (after leases and licenses) of USD 87 mn.
Kyivstar is revising up its outlook for 2026 and now expects USD revenue growth of 11%-14% and EBITDA growth of 7%-10% (assuming UAH/USD at 44.5). This is based on UAH revenue growth of 18%-21% (earlier 15%-18%) and EBITDA growth of 14%-17% (earlier 12%-15%). Capex intensity for 2026 is expected within 21%-24% of revenue (earlier 23% to 26%).
Strategic developments
The Group expanded its cooperation with SpaceX to include the resale of Starlink high-speed internet services for business. Over 5 mn customers have already used Direct to Cell services, now including messaging, while Light Data is scheduled to launch later in 2026.
The Group's digital ecosystem was further strengthened by the successful consolidation of Tabletki.ua (healthcare) effective February 2026.
Uklon continued its evolution into a one-stop mobility platform by launching a new "Travel" service for domestic and international bus bookings.
The Group advanced its national Large Language Model (LLM) initiative, officially naming the model "Syaivo" ("Glow") following a public vote on the Ukrainian government app Diia.
Kyivstar expanded its footprint in the highly fragmented fixed-broadband market by integrating approximately 52,000 customers following the successful acquisition of internet service provider Shtorm.
Commenting on the results, CEO ...
