Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 262

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 262
---
. currently has no employees. 128 BUSINESS OF KYIVSTAR AND CERTAIN INFORMATION ABOUT KYIVSTAR Unless the context otherwise requires, all references in this section to “we,” “us,” “our,” or “Kyivstar” refer VEON Holdings B.V. and its subsidiaries, including JSC Kyivstar, which are presented in the VEON Holdings B.V. audited combined financial statements included in this proxy statement/prospectus. Overview We are a telecommunications and digital business, operating Ukraine’s leading provider of mobile communication by number of subscribers and broadband services by number of access lines, as of September30, 2024. We provide mobile, digital and fixed -lineservices to over 23 million mobile subscribers and over 1.1 million broadband subscribers as of December 31, 2024. For the year ended December 31, 2024, our profit for the period was $283million and Adjusted EBITDA was $515million, reflecting our strong operational efficiency and continued profitability. In the same period, our profit margin was 30.8% and our Adjusted EBITDA Margin was 56%. 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 “ Kyivstar Management’s Discussion and Analysis of Financial Condition and Results of Operations of Kyivstar — Key Performance Indicators and Non -IF RS Financial Measures” for a discussion of the basis of the presentation of the financial statements of Kyivstar included elsewhere in this proxy statement/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 former parent company, VEON (formerly VimpelCom). We operate two related business lines: mobile telecommunications services (which include our digital offerings) and fixed -linetelecommunications services, which accounted for 94.6% and 5.4% of our revenue for the year ended December 31, 2024, respectively. In our mobile telecommunications services business, we provide (1) mobile services