“Kyivstar,” Ukraine’s largest telecommunications operator, which acquired a 12.947 MW solar power plant operator in the Zhytomyr region for $3 million late last year, plans to acquire six more solar power plant operators in the Lviv region: EnergoPostach-Plus LLC, Lightful, Sunlight Generation, Ternovitsa Solar, Energy Space, and Ternovitsa Solar Plus.
According to a statement from the Antimonopoly Committee of Ukraine, it granted Kyivstar PJSC the relevant approval on Thursday.
As previously reported by the Interfax-Ukraine agency, the AMCU had already granted permission to purchase these solar power plants in July 2021, but at that time the potential buyer was the French company Total Eren S.A. (a subsidiary of Total).
At that time, the project involved more than 100 MW of installed capacity: “Energy Space” (5.94 GW and 5.797 GW), “Ternovitsa Solar” (13.023 GW and 15.537 GW), “Ternovitsa Solar Plus” (12.382 GW and 15.537 GW), “Sunlight Generation” (5.94 GWp and 5.797 GWp), “EnergoPostach-Plus” (5.94 GWp and 5.797 GWp), and “Lightful” (5.94 GWp and 5.79 GWp).
According to data from YouControl, the main beneficiary of “Energy Space” and “Ternovitsa Solar Plus” is Vsevolod Trofimenko, a member of the family that owns the Multiplex cinema chain, “Ternovitsa Solar,” “Sunlight Generation,” “Energopostach-Plus,” and ‘Lightful’—Ivan Torsky, who was the CEO of the development holding “TKS.”
On March 13, during the presentation of the group’s annual report, Kyivstar CEO and President Oleksandr Komarov noted that the first solar power plant acquired at the end of last year generates electricity equivalent to 4% of Kyivstar’s annual electricity consumption.
According to him, such investments serve as a hedge against energy costs, which represent one of the company’s largest recurring expenses. They align with the strategy to support Ukraine’s recovery and energy independence, while also meeting the needs of digital services.
“Expanding our presence in the energy sector is a natural hedge against rising prices in the coming periods,” CFO Boris Dolgushin added at the time.
In 2025, Kyivstar Group increased its EBITDA by 30% to UAH 27 billion, with revenue growing by 30.3% to UAH 48.2 billion; including a 23.1% increase in EBITDA to UAH 7.2 billion in the fourth quarter of last year, with revenue growing by 30.1% to UAH 13.5 billion.
The number of full-time employees at the Kyivstar Group increased by 5.9%, or 291, to 5,183 in 2025, with the majority—68%—working at Kyivstar, the largest telecommunications operator, according to the group’s annual report.
According to the report, Kyivstar increased its workforce by 5.8%, or 193 employees, to 3,518 last year, while Kyivstar. Tech increased its workforce by 11.2% to 624, Helsi by 17.4% to 270, and only Uklon’s headcount remained unchanged at 768 people.
“The total number of our employees as of December 31, 2025, exceeds the number at the start of the war, and we have not lost a single key employee as a result of the war, despite the fact that 95% of our employees are located in Ukraine,” the report states.
According to the report, the group saw a 4.6% increase in full-time employees in 2024, or 217 people, including a 3.1% increase at Kyivstar, or 100 people.
It is noted that 20.7% of employees work in the network, 18% in call centers, 14.7% in commercial functions, 12.2% in digital functions, 7.6% in finance, 1% in HR, 0.8% in legal, 0.3% in compliance, and 21.4% are engaged in other support functions.
“We have developed internal procedures to manage the risk of mobilization of critical employees and are constantly analyzing the workload on staff to ensure uninterrupted operations,” the report states.
The group reported that since the start of the war in February 2022, it has paid employees 842 million UAH in emergency aid and is also offering 77% of employees the option to work in hybrid and remote modes.
It is also noted that the group had a relatively low voluntary turnover rate at the end of last year (calculated as the number of employees who resigned voluntarily relative to the total number of employees), with the exception of the call center, which relies heavily on seasonal workers—6.5%, which is only 0.5 percentage points higher than at the end of 2024 and 2023.
The report also notes that 218 employees are members of the Trade Union Committee of the primary trade union organization, and negotiations on concluding a collective agreement were suspended due to the war and are expected to resume after the end of martial law.
“We believe that relations with our employees are generally good,” the group concludes.
As reported, Kyivstar served approximately 22.4 million mobile subscribers and over 1.2 million fixed-line subscribers as of the end of 2025. The company is wholly owned by Kyivstar Group Ltd, whose shares are traded on the U.S. Nasdaq stock exchange and whose majority owner, in turn, is the telecommunications holding company VEON with an 83.6% stake.
In 2025, the Kyivstar Group increased its EBITDA by 30% to UAH 27 billion, with revenue growing by 30.3% to UAH 48.2 billion; including in the fourth quarter of last year, when EBITDA increased by 23.1% to UAH 7.2 billion, with revenue growing by 30.1% to UAH 13.5 billion.
Kyivstar, Ukraine’s largest telecommunications operator, paid over 13.67 billion UAH in taxes and fees to the state budget in 2025, a 12% increase from the previous year, according to a press release issued by the company on Wednesday.
According to the release, over the four years of full-scale war, the company’s total tax contributions exceeded 46.5 billion UAH, cementing Kyivstar’s status as the largest taxpayer in Ukraine’s telecom industry.
Previously, the company reported paying 12.3 billion UAH in taxes and fees for 2024 and 10.8 billion UAH for 2023.
According to data from the YouControl system, Kyivstar increased its revenue by 19.6% last year—to 43.81 billion UAH—while its net profit rose by 8.6%—to 12.31 billion UAH.
The Kyivstar Group’s annual consolidated financial statements, published recently, also noted that in 2025, income taxes increased by $10 million, or 15.6%, to $74 million.
“This increase was driven by higher taxable income for the year ended December 31, 2025, including approximately $18 million in taxable income related to the acquisition of Uklon,” the report stated.
“It is important for us to remain a reliable partner of the state: significant tax revenues, investments in the network, and strengthening its energy independence are our contribution to economic stability and uninterrupted connectivity for millions of people,” Kyivstar President Oleksandr Komarov is quoted as saying in the release.
The company also noted that since 2022, it has invested over 4.6 billion UAH in the procurement and maintenance of backup power equipment, and has allocated a total of 40.1 billion UAH in capital investments during this period toward infrastructure restoration, modernization, and the development of digital capabilities.
In addition, Kyivstar reported that last year it allocated 1.7 billion UAH to support the Armed Forces, subscribers, and the implementation of social projects, bringing the total amount allocated for these purposes since the start of the war to over 4.4 billion UAH.
It is noted that in 2025, the company launched a new charitable initiative—supporting pediatric intensive care units at the UNBROKEN Center based at the First Medical Association of Lviv, to which it allocated 15 million UAH.
As reported, as of the end of 2025, Kyivstar served approximately 22.4 million mobile subscribers and over 1.2 million fixed-line subscribers. The company is wholly owned by Kyivstar Group Ltd, whose shares are traded on the U.S. Nasdaq stock exchange and whose majority owner, in turn, is the telecommunications holding company VEON with an 83.6% stake.
In 2025, the Kyivstar Group increased its EBITDA by 30% to UAH 27 billion, with revenue growing by 30.3% to UAH 48.2 billion; including in the fourth quarter of last year, when EBITDA increased by 23.1% to UAH 7.2 billion, with revenue growing by 30.1% to UAH 13.5 billion.
Kyivstar, Ukraine’s largest mobile operator, is interested in expanding its digital growth strategy by entering the digital banking market and is engaged in discussions with the National Bank of Ukraine, company representatives said during a conference call on Friday regarding its 2025 financial results.
“If you look at the portfolio of Sasha (Kyivstar President and CEO Alexander Komarov) and Boris (CFO Boris Dolgushin), you’ll see one obvious element that’s missing, namely digital banking. “I think this is the part that inspires us all for the next few years,” said Kaan Terzioglu, chairman of Kyivstar’s supervisory board and CEO of VEON, the company’s majority owner.
“We’re working on it. We are in dialogue with the National Bank of Ukraine. We want to resolve this issue, but, of course, you know, we want to combine this with a very clear strategy,” Komarov noted in turn.
According to him, the question is what role Kyivstar wants to play, because there are different types of licenses and different approaches.
“So for us, this is… not just a matter of regulation; it’s also a matter of the right strategy for entering this segment,” emphasized Kyivstar’s President and CEO.
As reported, Kyivstar served 22.4 million mobile subscribers and 1.2 million “Home Internet” subscribers as of the end of 2025. In 2025, the company increased its EBITDA by 30% to UAH 27 billion, with revenue growing by 30.3% to UAH 48.2 billion; including a 23.1% increase in EBITDA to UAH 7.2 billion in the fourth quarter of last year, with revenue growing by 30.1% to UAH 13.5 billion.
Kyivstar, Ukraine’s largest mobile operator, has acquired the regional internet provider Shtorm LLC (Shtorm) in the Kirovohrad region, which serves over 50,000 subscribers, for 420 million UAH, announced Kyivstar CEO and President Oleksandr Komarov.
“This acquisition brings over 50,000 new broadband customers in 130 municipalities into the Kyivstar ecosystem, supporting our strategy to expand our broadband network,” he said during a conference call regarding the company’s annual report on Friday.
“In the fixed broadband market, we aim to strengthen the group’s leadership through organic growth and acquisitions,” Komarov emphasized regarding the company’s future development strategy.
He noted that cross-selling and synergies are at the core of Kyivstar’s digital growth strategy. According to him, for example, in the fourth quarter, the share of broadband customers subscribed to Kyivstar TV grew by more than 3 percentage points (pp) to 48%.
“We attribute this growth to effective marketing and the increasing appeal of our content library, including programs unavailable elsewhere in Ukraine,” Komarov noted.
He noted that the number of multi-service customers (including customers who use at least one digital application in addition to voice and data services) grew by 18% year-over-year in the fourth quarter of 2025, reaching 7.3 million, or 35% of the active customer base in a single month, which is nearly 6 percentage points higher than a year earlier.
“The multi-service segment is driving growth thanks to stronger customer engagement, higher data consumption, and improved customer retention. They (such customers) also generate a higher ARPU—$5.20 per month for our services, which is 37% higher than the average for a mobile customer,” noted the company’s president.
Kyivstar announced the acquisition of Shtorm in late February. At the time, it was noted that this provider offers coverage in the Kirovohrad region, covering the cities of Kropyvnytskyi, Oleksandriia, and 132 surrounding settlements. The press release did not include information on the purchase price of the provider.
According to data from YouControl, the revenue of Isp Storm LLC for the first nine months of 2025 increased 4.7-fold compared to the first nine months of 2024—to 94.86 million UAH—while net profit jumped 17-fold—to 30.39 million UAH.
The beneficiaries of the company, which has a registered capital of 4.5 million UAH, were Vitaliy Oliynyk and Yulia Makarenko on an equal basis.
Kyivstar emphasized that the deal preserves the provider’s workforce of more than 100 employees, including engineers, designers, and customer service specialists, who will continue to be responsible for network maintenance and subscriber support in the region.
In August of last year, Kyivstar first announced the $2 million acquisition in September 2024 of LanTrace (Boryspil)—a regional provider of fixed broadband internet access in the Kyiv region.
As reported, Kyivstar served 22.4 million mobile subscribers and 1.2 million “Home Internet” subscribers as of the end of 2025. In 2025, the company increased its EBITDA by 30% to 27 billion UAH, with revenue growing by 30.3% to 48.2 billion UAH; including in the fourth quarter of last year, when EBITDA increased by 23.1% to UAH 7.2 billion, with revenue growing by 30.1% to UAH 13.5 billion.
Kyivstar, Ukraine’s largest telecommunications operator, which this year acquired the digital medical goods service Tabletki.ua (MTPK LLC) for an amount equivalent to $160 million, plans to launch pilot joint products this year between this service and the Helsi medical information system, which is also owned Kyivstar, and subsequently integrate the Uklon taxi-hailing and delivery service, which the operator acquired early last year for the equivalent of $155 million, Kyivstar CEO and President Oleksandr Komarov announced.
“This vision begins with patients and doctors using the Helsi app. We want them to be able to select and book … medications or pharmaceutical products within a single customer journey, and if necessary, Uklon will deliver them to the patient,” he said during a conference call regarding Kyivstar’s 2025 financial results on Friday evening.
“Our specific plan is to launch pilot projects for certain MVPs (Minimum Viable Products) between Helsi and Tabletki this year. With a clear strategy that we will present to the Kyivstar Group supervisory board sometime in the fourth quarter of 2026,” Komarov noted.
According to him, the group is currently very focused on integrating the acquired businesses.
“We want to integrate from various perspectives, because integrating local businesses into a public company is a challenge. And then we will focus on development strategies and synergies between Helsi and Tabletki, between Uklon and Tabletki, and between Kyivstar and Tabletki.
According to the report, Helsi increased its revenue in the fourth quarter of 2025 by 67.8%—to 95 million UAH, and for the year as a whole, it reached 311 million UAH. The number of active specialists and doctors on the platform grew by 7.5% over the year—to over 42,000—while the number of healthcare facilities increased by 4%—to over 1,700. Although the number of appointments made by patients through the platform decreased by 1.4% last year—to 2.4 million—the number of monthly active users (MAU) grew by 6.7%—to 2.5 million—and the number of paying subscribers increased 3.8-fold, to over 57,000.
The online taxi service Uklon, which was consolidated into Kyivstar’s financial statements in April 2025, generated UAH 3.35 billion in revenue over the last three quarters of last year, with EBITDA of UAH 1.1 billion, including UAH 1.42 billion and UAH 386 million in the fourth quarter, respectively.
The number of Uklon rides in the fourth quarter of 2025 increased by 8.6% compared to the fourth quarter of the previous year—to 43.6 million—while deliveries rose by 21.7% to 1.3 million, and the MAU figure stood at 3.8 million.
The Tabletki service partners with over 14,000 pharmacies across Ukraine and, according to 2025 data, processed 14 million online orders per month.
Komarov was unable to specify Uklon’s market share due to the market’s opacity, but emphasized that the company is clearly the leader, while Bolt and Uber rank second and third, respectively.
According to the head of Kyivstar, Uklon’s business is growing thanks to the continued penetration of ride-sharing services and an increase in market share, as well as the development of an advertising business—built virtually from scratch—at a rate of 100% per year.
“We have our own strategy—let’s call it a modern mobility strategy—centered on Uklon: we want Uklon to expand into the mobility segment. We are already conducting some experiments with special buses for the most popular routes, for example, to Bukovel, … some experiments on how to develop an ecosystem of modern mobility services around the clock,” Komarov said.
When asked about the launch of the Uklon website in Kazakhstan, the head of Kyivstar emphasized that no decisions regarding international expansion have been made yet; outside of Ukraine, the business is currently developing only in Uzbekistan. “We are satisfied with the current results, but we want to be sure that our model of international expansion is sufficiently proven based on the synergy between the telecommunications business and the ride-hailing business,” Komarov explained.
