Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 312

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 312
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 $1 billion in Ukraine by 2027, focusing on several key areas to drive growth and innovation. We intend to deploy this investment through a variety of capital streams, including investments in infrastructure and technological development, charitable donations and strategic acquisitions. A significant portion of this strategy includes the expansion of our roaming and international interconnect businesses, which is important for generating cash in stable foreign currencies, such as euros. For example, as discussed above, in November 2024, we successfully acquired 2x5 MHz spectrum in the 2100 MHz band and 40 MHz spectrum in the 2300 MHz band at an auction held by NCEC, investing UAH 1.43 billion ($34 million) as part of this investment. As we continue to execute on these initiatives, we expect capital expenditures to remain elevated in the near term. Expanding our Multiplay Strategy The cornerstone of our growth strategy includes 4G -basedgrowth in mobile connectivity, expanding our digital services and increasing customer spend across our complementary service portfolio ( i.e., our multiplay strategy). 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 49% increase from 4.1 million in 2023. Our revenue from multiplay customers has grown approximately 46% between 2023 and 2024, from $179 million in the year ended December31, 2023 to $260million in the year ended December31, 2024. In addition, we have seen an upward trend in ARPU due to an increase in multiplay customers, with average monthly ARPU increasing from $2.92 for the year ended December 31, 2023 to $3.01 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