Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 302

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 302
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 audited combined financial statements included in this proxy statement/prospectus. Overview We operate one of Ukraine’s leading digital operators and provider of mobile communication and broadband services based on number of subscribers. We provide mobile, digital and fixed -line services 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 $ 283 million and Adjusted EBITDA was $ 515 million, 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 “— 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 94.6 % 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, including voice, messaging and wireless internet, as well as (2) digital services, including (i) big data and technology services via our technology company, Kyivstar.Tech, (ii) a suite of self -service options through our self -service app, MyKyivstar, (iii) digital health services through Helsi and (iv) digital TV content on the Kyivstar TV platform in partnership with PLUS TV LLC. In our fixed -line telecommunications services business , we provide voice, data and internet services, including corporate internet access, fixed -line telephone