Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 334

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 334
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 lowered revenue due to the provision of a discount on one month of services to affected customers, enabling higher year -on -yeargrowth in the three months ended March 31, 2025. In addition, revenue for the three months ended March 31, 2025 was higher due to the repricing of customer offers launched in December 2024.

168 Fixed service revenue includes fixed -termtariff plans and monthly subscriptions. Fixed service revenue increased by $3 million, or 27.3%, from $11 million for the three months ended March 31, 2024 to $14 million for the three months ended March 31, 2025. This increase was driven by an increase in subscriber and a customer base modernization that allowed us to focus on higher value customers. Other revenue Other revenue remained at $1 million for the three months ended March 31, 2024 and 2025. Total operating revenue Total operating revenue increased by $69 million, or 37.1%, from $186 million for the three months ended March 31, 2024 to $255 million for the three months ended March 31, 2025. This increase was driven by the factors described above. Service costs Service costs remained at $24 million for the three months ended March 31, 2024 and 2025. Selling, general and administrative expenses Selling, general and administrative expenses increased by $22 million, or 31.9%, from $69 million for the three months ended March 31, 2024 to $91 million for the three months ended March 31, 2025. This increase was driven by an increase in technology expenses ($9 million) as a result of higher electricity tariffs, frequency fee indexation and additional frequencies acquired; higher human resources costs ($8 million) and higher consulting and professional services costs ($5 million). Depreciation Depreciation remained at $31 million for the three months ended March 31, 2024 and 2025. Amortization Amortization increased by $1 million, or 8.3%, from $12 million for the three months ended March 31, 2024 to $13 million for the three months ended March 31, 2025. This increase was driven by the acquisition of additional frequencies and software. Impairment, net Impairment, net increased by $1 million, or 100.0%, from $1 million for the three months ended March 31, 2024 to