Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 17

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 17
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 mobile communication by number of subscribers and broadband services by number of access lines, as of December 31, 2024. We provide mobile, digital and fixed -lineservices to over 23 million mobile customers and over 1.1 million broadband subscribers as of December 31, 2024. For the year ended December 31, 2024 and the six months ended June 30, 2025, our profit for the period was $283 million and $126 million, respectively, and Adjusted EBITDA was $515 million and $306 million, respectively, reflecting our strong operational efficiency and continued profitability. In the same periods, our profit margin was 31% and 24%, respectively, and our Adjusted EBITDA Margin was 56% and 57%, respectively. Our margins and Adjusted EBITDA have remained strong through the war in Ukraine, due to our focus on customer retention and continuity of service during this period. See “ Management’s Discussion and Analysis of Financial Condition and Results of Operations of Kyivstar — Key Performance Indicators and Non -IFRS Financial Measures” for a discussion of the basis of the presentation of the financial statements of Kyivstar included elsewhere in this prospectus and a description of our non -IFRSfinancial measures. We were founded in 1994 under the name “Bridge,” and we were one of the first mobile networks in Ukraine. We initially focused on mobile services and, throughout the 2000s, we broadened our offerings by investing in mobile data services and modernizing our infrastructure to support the rollout of 3G and later 4G LTE networks. In 2005, already a leader in the Ukrainian telecom market, we were acquired by our parent company, VEON (formerly VimpelCom), which has been listed on Nasdaq since 1996. We operate two related business lines: mobile telecommunications services and fixed -linetelecommunications services, which accounted for 94% and 5% of our revenue for the year ended December 31, 2024, respectively, and approximately 95% and 5% of our revenue for the six months ended June 30, 2025, respectively (with other revenue constituting approximately 1% of our revenue in each period). In our mobile telecommunications services business, we provide (1) mobile services, including voice, messaging and wireless internet, as well as (2) digital services, including (i) big data and technology services via our technology company, Ky