Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 315

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 315
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). The number of multiplay customers has grown in both relative and absolute terms, reaching approximately 6.1 million subscribers as of December 31, 2024, a three -foldincrease from 2.1 million in 2020. Our revenue from multiplay customers has grown approximately % between 2023 and 2024, from $179 million to $ million. In addition, we have seen an upward trend in ARPU due to an increase in multiplay customers, with average monthly ARPU increasing from $2.00 for the year ended December 31, 2018 to $3.00 for the year ended December 31, 2024. This pursuit of growth by cross selling to our customers across our mobile connectivity and digital services has led to higher capital expenditures and increased spectrum acquisitions and renewals for the years ended December 31, 2023 and 2024, including as a result of investments into our network infrastructure. Explanation of key line items in the historical combined statements of income Service revenues Service revenues include revenue from airtime charges from contract/postpaid and prepaid customers, monthly contract fees, interconnect revenue, roaming charges and charges for value added services (“VAS”). VAS include short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine -to -machineand other services. The content revenue relating to VAS is presented net of related costs when our performance obligation is to arrange the provision of the services by another party (we act as an agent) and gross when we are primarily responsible for fulfilling the obligation to provide such services to the customer. Revenue from services with a fixed term, including fixed -termtariff plans and monthly subscriptions, is recognized on a straight -linebasis over time. For pay -as - you-useplans, in which the customer is charged based on actual usage, revenue is recognized on a usage basis. Some tariff plans allow customers to rollover unused services to the following period. For such tariff plans, revenue is generally recognized on a usage basis. For contracts that include multiple service components, such as voice, text and data, revenue is allocated based on stand -aloneselling price of each performance obligation. The stand -aloneselling price for these services is usually determined with reference to the price charged per service under a pay -as - you-useplan to similar customers. Upfront fees, including activation or connection fees, are recognized on a straight -linebasis over the contract term.