Kyivstar Group Ltd and its main shareholder VEON have announced the completion of a $1.3 billion investment program in Ukraine, exceeding the initially announced $1 billion target by 30% and completing the program ahead of the original 2023–2027 schedule.
The investments were directed toward the development of telecom infrastructure, digital services, and strengthening the energy resilience of the network. In particular, the funds were invested in expanding mobile coverage, developing high-speed fixed internet, implementing Starlink direct-to-device satellite connectivity, and deploying backup power systems to ensure uninterrupted operations during energy crises.
In parallel, the company strengthened its digital ecosystem through a series of strategic acquisitions. Key transactions included the acquisition of Uklon, the Tabletki.ua platform, and SUNVIN 11, a company owning solar power plants. The latter investment marked Kyivstar’s first step into the renewable energy sector.
Initially, the program provided for $600 million in investments over three years, but was later expanded to $1 billion over five years, covering telecommunications, digital services, energy, and M&A. In practice, the companies invested more and faster than the announced targets.
Against the backdrop of active investment, Kyivstar is demonstrating growth in its financial indicators: in 2025, the company’s revenue increased by 30.3% to UAH 48.2 billion, while EBITDA rose by 30% to UAH 27 billion. At the end of the year, the subscriber base stood at 22.4 million mobile users and 1.2 million fixed internet customers.
The company emphasizes that the large-scale investments reflect a long-term commitment to Ukraine’s digital transformation and the resilience of telecom infrastructure amid elevated risks.
