Kyivstar Group (KYIV) Q3 2026 earnings summary

Executive summary

• 3Q26 revenue rose 17.5% in USD to $349m and EBITDA increased 10.3% to $189m; 9M free cash flow rose 56.8% to $274m.

• Digital revenue grew 68.9% to $76m, reaching 21.7% of revenue; digital EBITDA increased 74.2%.

• 2026 revenue and EBITDA growth guidance was raised; capex intensity guidance remained 21%-24%.

Financial highlights

• Revenue was $349m (UAH 15.6bn, +26.5%); EBITDA was $189m (UAH 8.4bn, +18.7%), with a 54.0% margin.

• Net profit was $99m and diluted EPS was $0.36, versus a $89m net loss and $0.41 loss per diluted share in 3Q25.

• Q3 free cash flow was $83m, up 144.0% in USD; 9M free cash flow was $274m, up 56.8%.

• Capex fell 25.6% YoY to $66m; LTM capex intensity declined to 24.0% from 29.0%.

Outlook and guidance

• 2026 revenue growth guidance rose to 15%-17% in USD from 14%-16%, and to 22%-24% in UAH from 21%-23%.

• 2026 EBITDA growth guidance rose to 10%-12% in USD from 9%-12%, and to 18%-20% in UAH from 17%-19%.

• Capex intensity guidance remains 21%-24%; USD outlook assumes UAH 44.5 per dollar. Q4 growth may slow due to comparisons, Solar seasonality, Uklon headwinds and year-end costs.