Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 318

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 318
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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 December 31, 2024. We provide mobile, digital and fixed -line services 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 three months ended March 31, 2025, our profit for the period was $283 million and $44 million, respectively, and Adjusted EBITDA was $515 million and $140 million, respectively, reflecting our strong operational efficiency and continued profitability. In the same periods, our profit margin was 31% and 17%, respectively, and our Adjusted EBITDA Margin was 56% and 55%, 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 “— 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 proxy statement/prospectus and a description of our non -IFRS financial 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 and fixed -line telecommunications services, which accounted for 94% and 5 % of our revenue for the year ended December 31, 2024, respectively, and 94% and 5% of our revenue for the three months ended March 31, 2025, respectively (with other revenue constituting approximately 1% of our revenue in each period). In our mobile telecommunications services