The top three operators in Ukraine by revenue from telecommunications services for January–March 2026 were, by a wide margin, mobile operators: Kyivstar PJSC – 12.08 billion UAH, VF Ukraine PJSC (Vodafone-Ukraine brand) – 6.69 billion UAH, and lifecell LLC (lifecell brand) of the DVL Group – 4.18 billion UAH.
According to data from the National Commission for the Regulation of Electronic Communications and Postal Services (NCREC) published on its website, compared to 2025 figures, Kyivstar’s revenue increased by 15.1%, Vodafone-Ukraine’s by 10%, and lifecell’s by 13.9%.
As previously reported, for 2025 as a whole, these growth rates were 20.3%, 13.1%, and 19.1%, respectively.
The top five operators by revenue in the first quarter of 2026 also included the fixed-line operator PJSC “Ukrtelecom,” which saw its revenue decline by 6.3% compared to the same period in 2025, to 1.10 billion UAH.
Kyivstar’s “sister” company, LLC “Ukraine Tower Company” (UTC), rounded out the top five in terms of revenue in the first quarter of 2026, increasing its revenue by 20.7% to 0.86 billion UAH.
According to the report, in the second group of five by telecommunications revenue, the fixed-line operator PJSC “Datagroup” from the DVL Group leads the way, having increased its revenue by 37.9% compared to the same period last year—to 0.58 billion UAH—thereby moving up from 7th to 6th place.
Next is the fixed-line operator PJSC “Farlep-Invest,” controlled by “VF Ukraine,” which increased its revenue by 52.8%—to 0.27 billion UAH—and moved from 9th place in 2025 to 7th in 2026.
LLC “Ukrainian Network Solutions,” the holding company for “Vodafone Ukraine,” increased its telecommunications revenue 2.5-fold in the first quarter of 2026—to 0.27 billion UAH—ranking 8th.
Rounding out the top five was “Home-Net” Scientific and Industrial Company LLC, which managed to increase its revenue by 24.1%—to 0.21 billion UAH—moving up from 10th to 9th place.
For its part, the Radio Broadcasting, Radio Communications, and Television Concern increased its revenue in the first quarter of 2026 by 7.2% compared to the same period in 2025—to 0.17 billion UAH—ranking 10th.
According to the regulator’s data, the top three mobile operators also led in terms of capital investments in the telecommunications sector during the first quarter of 2026: “Kyivstar” increased its investments by 49.7% compared to 2025—to 3.17 billion UAH, “Vodafone-Ukraine” by 6.3% to 1.33 billion UAH, and lifecell by 23.3% to 1.27 billion UAH.
At the same time, Ukraine Tower Company LLC reduced its capital investments in the first quarter of 2026 by 18.3% compared to the first quarter of 2025, down to 0.29 billion UAH, while Farlep-Invest PJSC increased this figure by 18.3% to 0.28 billion UAH.
“Ukrtelecom” also reduced its investment volume by 28.2% in the first quarter of 2026 compared to the same period last year—to 61.9 million UAH, while “Datagroup” reduced its investment by 17.2%—to 47.9 million UAH, thus securing 7th and 8th places, respectively.
In turn, Ukrainian Network Solutions LLC, which ranked 6th in investment volume in the first quarter, also reduced its investment by 50.9% compared to the same period last year—to 94.9 million UAH.
