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Kyivstar raises annual revenue outlook after third-quarter growth
The Ukrainian telecom operator expects revenue growth of 15% to 17% in US dollar terms, while its unpublished 2027 forecast assumes no end to the war.
Kyivstar increased its full-year revenue growth forecast on November 6, pointing to demand for mobile services and expansion in digital services. Ukraine's largest telecom operator reported third-quarter revenue of $349 million, a 17.5% increase.
The Nasdaq-listed company now projects annual revenue growth of 15% to 17% in US dollar terms, compared with its earlier range of 14% to 16%. Quarterly earnings before interest, taxes, depreciation and amortization rose 10.3% to $189 million.
Digital services generated $76 million in revenue, up 68.9%, and accounted for 21.7% of group revenue. The unit's EBITDA margin was 40.7%. CEO Oleksandr Komarov attributed a slight margin decline mainly to investment in modern mobility, including ride-hailing service Uklon, which is expanding into delivery and travel.
Komarov said recent Russian attacks directly struck Kyivstar infrastructure, but emergency and mitigation measures prevented service interruptions. He also said the company had completed a nearly three-year process to shut down 3G services, with more than 70% of data customers now using the newer network.
Kyivstar's planning for 2027 does not assume the war will end, Komarov said in an interview, describing the company's forecasting approach as conservative. The operator has not yet made that outlook public.