Company: KYIV
Filing Date: 2025-09-30
Form Type: F-1/A
Source: 0001213900-25-093621
Chunk: 129

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-30
Form: F-1/A
Chunk 129
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. Fixed service revenue increased by $3 million, or 12.0%, from $25 million for the six months ended June 30, 2024 to $28 million for the six months ended June 30, 2025. This increase was driven by an increase in subscriber and a customer base modernization that allowed us to focus on higher value customers. Other revenue Other revenue increased by $1 million, or 50.0%, from $2 million for the six months ended June 30, 2024 to $3 million for the six months ended June 30, 2025. This increase was due to rent income growth and IT services revenue growth. Total operating revenue Total operating revenue increased by $118 million, or 28.0%, from $421 million for the six months ended June 30, 2024 to $539 million for the six months ended June 30, 2025. This increase was driven by the factors described above. Service costs Service costs increased by $4 million, or 8.5%, from $47 million for the six months ended June 30, 2024 to $51 million for the six months ended June 30, 2025. This increase was due to revenue growth from Kyivstar TV and our cloud services business. Selling, general and administrative expenses Selling, general and administrative expenses increased by $41 million, or 28.9%, from $142 million for the six months ended June 30, 2024 to $183 million for the six months ended June 30, 2025. This increase was driven by an increase in technology expenses ($16 million) as a result of higher electricity tariffs, frequency fee indexation and additional frequencies acquired; higher human resources costs ($18 million); higher consulting and professional services costs ($5 million) and higher media and marketing costs ($3 million). This increase was also attributable to the initial consolidation of Uklon’s financials, which included human resources costs of $8 million, media and marketing costs of $3 million and other costs of $1 million, together contributing approximately 8.5 percentage points to our 28.9% period -to -periodincrease in selling, general and administrative expenses.

74 Depreciation Depreciation increased by $7 million, or 11.9%, from $59 million for the six months ended June 30, 2024 to $66 million for the six months ended June 30, 2025. This increase was driven by a