Ukraine's Kyivstar raises outlook as digital business surges despite ongoing war
Kyivstar now expects its revenue to grow by 15%–17% this year, up from its original forecast of 14%–16%. Its revenue reached $349 million in the third quarter, up 17.5% from a year earlier, according to its quarterly financial results.
Ukraine's largest telecom operator, Kyivstar, has raised its outlook for the year, citing robust growth in its mobile and digital services. The company now anticipates a revenue increase of 15% to 17%, surpassing its initial forecast of 14% to 16%. In the third quarter, Kyivstar's revenue climbed by 17.5% to $349 million, while operating profit rose 10.3% to $189 million.
Following a shift from traditional mobile services to digital offerings, including ride-hailing, healthcare, and cloud technology, Kyivstar's digital services have seen a remarkable 69% revenue growth, reaching $76 million. Services such as ride-hailing and online healthcare now constitute over one-fifth of the company's total revenue, illustrating its diversification.
Kyivstar's digital arm, Uklon, a Ukrainian ride-hailing and delivery platform, acquired last year, has been rapidly expanding, both domestically and internationally, with recent launches in four Ukrainian cities and plans to enter five cities in Uzbekistan. Kyivstar's CEO, Oleksandr Komarov, confirmed that the company's infrastructure, despite being directly affected by recent Russian attacks, remains operational.
However, Kyivstar does not anticipate the conflict's conclusion in the near future and has not incorporated this into its 2027 business plans.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
