Last year, Kyivstar, the largest mobile operator, increased its revenue by 11% compared to 2023 to UAH 37.27 billion, while increasing capital investments by 60.7% to UAH 10.22 billion, according to the reports published by its parent company VEON.
According to the report posted on VEON’s official website on Thursday, Kyivstar’s revenue in the fourth quarter of last year increased by 15.9% compared to the fourth quarter of 2023 to $251 million, and for the whole of 2024 it grew by 12.8% compared to 2023 to $925 million. In hryvnia terms, the operator’s revenues in the fourth quarter increased by 31.5% to UAH 10.413 billion, and by 11% to UAH 37.27 billion for the whole of 2024. Moreover, revenues from telecommunications services and infrastructure increased by 29.6% to UAH 10.12 billion in the fourth quarter and by 9.6% to UAH 36.39 billion in 2024.
Revenue from digital services increased by 170.2% to UAH 286 million in the fourth quarter and by 122.3% to UAH 880 million in 2024.
EBITDA in the fourth quarter increased by 2.5% compared to the fourth quarter of 2023 to $140 million, and in 2024 decreased by 4.2% to $518 million compared to 2023. EBITDA in UAH equivalent in the fourth quarter increased by 36.9% to UAH 5.78 billion, and in 2024 increased by 5.8% to UAH 20.92 billion.
In the fourth quarter, EBITDA margin in UAH equivalent increased by 2.2 percentage points to 55.6%, while in 2024 it decreased by 2.7 percentage points to 56.1%.
Capital investments increased by 65.3% to UAH 4.25 billion in the fourth quarter and by 60.7% to UAH 10.22 billion in 2024.
The number of Kyivstar subscribers in the fourth quarter of last year decreased by 3.8% to 23 million compared to the fourth quarter of 2023. Moreover, the number of 4G users in this period decreased by 2.8% to 14.5 million. The number of multiplay customers (customers who use several communication and entertainment services from one provider – IF-U) increased by 50.2% to 6.1 million.
“The decrease in the number of 4G users caused by an overall decline in the number of mobile subscribers and an increase in the number of roaming users was more than offset by a 19.9% increase in data usage per user,” VEON said in its report.
Digital MAU (Monthly Active Users – the monthly number of active digital users of a particular online platform, application or digital service – IF-U) increased by 29.6% to 10.6 million. In the fourth quarter of last year, ARPU (average revenue per user) increased by 34.5% to UAH 136, while MOU decreased by 1.7% to 298 minutes (in the fourth quarter of 2024). The average amount of mobile Internet used by one user in the period increased by 19.9% to 11.2 GB.
In addition, it is reported that Helsi Ukraine, the largest digital healthcare platform in Ukraine, continued to grow. In the fourth quarter of last year, the number of patients registered on the platform increased by 5% to 28 million. The number of active medical facilities increased by 3% to 1.6 thousand active medical facilities. The number of medical specialists registered on the platform also increased by 5% (to 39 thousand). The number of downloads of the mobile application reached 9.2 million, including 2.4 million appointments with doctors (+8% yoy).
The average monthly audience of Kyivstar TV in 2024 increased by 54.8% compared to 2023 to 2 million, driven by demand for premium content. New features such as content downloads, multi-screen access and personalized recommendations further increased user engagement, VEON’s report says.
