Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 126

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 126
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 to invest $1 billion in Ukraine represents a forward -lookinggoal that will remain subject to ongoing assessment and evolving circumstances. 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 users 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 users has grown approximately 46% between 2023 and 2024, from $179 million in the year ended December 31, 2023 to $260 million in the year ended December 31, 2024. In addition, we have seen an upward trend in ARPU due to an increase in multiplay users, with average monthly ARPU increasing from $2.90 for the year ended December 31, 2023 to $3.00 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 and historical consolidated statements of income Service revenue/Revenue Service revenue includes 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-machineand other services. The content revenue relating to VAS is presented net of related costs when our performance obligation is to arrange the provision of the services by another party (we act as an agent) and gross when we are primarily responsible for fulfilling the obligation to provide such services to the customer. Revenue from services with a fixed term, including fixed -termtariff plans and monthly subscriptions, is recognized on a straight -linebasis over time. For pay -as-you-useplans, in which the customer is charged based on actual usage, revenue is recognized on a usage basis. Some tariff plans allow customers to rollover unused services to the following period. For such tariff plans