Kyivstar, Ukraine’s largest mobile operator, increased its EBITDA by 18.7% in the third quarter of 2026 to 8.4 billion UAH, while revenue rose by 26.5% to 15.6 billion UAH, according to the company’s quarterly report released on Friday.
“This quarter demonstrates how Kyivstar is expanding. This growth provides the resources for further expansion: over the first nine months, free cash flow increased by 57%. Our network continued to operate even under the most challenging conditions,” the document quotes Kyivstar CEO and President Oleksandr Komarov as saying.
Kyivstar estimates revenue growth for the third quarter of 2026 in U.S. dollars at 17.5%—to $349 million—and EBITDA at 10.3% to $189 million.
Net income for the third quarter of this year was $99 million, compared to a net loss of $89 million in the third quarter of 2025; earnings per share were $0.36, while in the third quarter of 2025 the figure was $0.41.
Revenue from the digital segment grew by 68.9% to $76 million, accounting for 21.7% of the group’s total revenue. EBITDA for the digital segment increased by 74.2% to $31 million, with a margin of 40.7%.
Revenue from telecommunications and infrastructure grew by 8.4% in the third quarter of this year compared to the same period last year, reaching $273 million, or a 16.7% increase in hryvnia terms.
Capital expenditures in the third quarter of this year decreased by 25.6% to $66 million, while the capital expenditure intensity over the past 12 months fell from 29% to 24%.
It is noted that free cash flow amounted to $83 million (compared to $34 million in the third quarter of 2025), and for the first nine months of this year, it totaled $274 million, an increase of 56.8%. Cash and cash equivalents totaled $436 million, and net liquidity, excluding leases, amounted to $350 million.
The report specifies that Kyivstar is raising its forecast for 2026 and now expects revenue growth of 15–17% in dollars, or 22–24% in hryvnia. EBITDA is also expected to grow by 10–12% in dollars and 18–20% in hryvnia.
At the same time, Kyivstar added that the capital expenditure ratio will remain unchanged at 21–24%.
Among other things, ARPU (Average Revenue Per User) in the mobile segment for the third quarter of 2026 rose by 14% compared to the third quarter of 2025—to 178.9 UAH (up 13% in U.S. dollars—to $4). The company explains that this is due to a 20% increase in data consumption and a rise in 4G penetration to 71.5% (+4.9 percentage points).
At the same time, the number of broadband internet subscribers increased by 11.3% compared to the previous figure, reaching 1.3 million.
“The Open Access agreement with Ukrtelecom allows Kyivstar to provide home internet services via Ukrtelecom’s fiber-optic network, which contributes to the group’s further expansion of market coverage,” the report emphasized.
According to the report, Kyivstar’s total number of subscribers in the third quarter of 2026 decreased by 3.6% compared to the same period in 2025, down to 21.7 million.
In addition, Kyivstar is expanding its digital services alongside its telecom business. The number of active users of these services in the third quarter stood at 29.5 million (+48.2%), including Tabletki.ua, whose results have been consolidated since February 2026.
Furthermore, the mobile operator’s customers who use multiple services account for 40.3% of the active subscriber base, while their ARPU is 1.5 times higher than the average for mobile subscribers.
The online taxi service Uklon, which was consolidated into Kyivstar’s financial statements in April 2025, generated 1.497 billion UAH in revenue, or $33.5 million, in the third quarter of 2026. EBITDA for the reporting period amounted to 455 million UAH, or $0.2 million.
Uklon’s digital customer base grew by 6% to 5.4 million users; the number of booked trips during this period increased by 1.5% to 42.8 million, and the number of completed trips rose by 26.9% to 1.5 million.
In addition, it is reported that the Helsi healthcare information system generated revenue of 111 million UAH as of the end of the third quarter of 2026, an increase of 47% compared to the same period in 2025 (or 36.5% to $2.5 million). Premium subscriptions to the service totaled 136,000 in the third quarter of this year.
The service’s customers have access to 1,700 healthcare facilities; there are 46,000 active doctors in the system (a 19.9% increase), and patients made 2.3 million appointment bookings. In total, the service has 5.2 million digital customers, an increase of 6.2%.
Tabletki.ua, which was acquired in February of this year for $160 million, generated 361 million in revenue, or $8.1 million, in the third quarter of 2026. EBITDA totaled 271 million UAH, or $6.1 million. The service had 6.6 million digital customers in the third quarter of this year. The average monthly number of orders reached 15 million, and gross merchandise value (GMV) totaled $397 million.
Revenue for the Kyivstar TV platform in the third quarter of 2026 reached 630 million (14.1 million). The number of the platform’s digital customers during the reporting period was 3.5 million (a 32.3% increase), while the number of sessions rose by 18.6% to 784 million.
In late October, it was reported that Kyivstar announced the acquisition of GigaCloud, one of Ukraine’s leading cloud infrastructure providers, for nearly 2.28 billion UAH (nearly $50 million) with the aim of expanding its capabilities in the field of cloud solutions for businesses.
GigaCloud, founded in 2016, currently serves more than 1,800 corporate clients. The company specializes in providing relevant services to businesses. Among the company’s clients are the Kernel agricultural holding, Naftogaz, and others.
In 2025, the company reported revenue of $14 million and EBITDA of $4.7 million.
Kyivstar increased its revenue by 29.1% in the first half of 2026 compared to the same period in 2025—to 28.9 billion UAH, or 22.8% in dollar terms, to $662 million. Kyivstar’s net profit during this period increased by 36.1% compared to the same period in 2025—to 7.1 billion UAH, or by 28.8% in U.S. dollars, to $162 million.
