The company "Kyivstar" has shown significant growth in market capitalization after its debut on the American stock exchange Nasdaq, despite the challenges posed by war and geopolitical factors.
In an interview with the publication Mind, President Oleksandr Komarov stated that as of October 20, the market capitalization reached $3.13 billion, reflecting a successful listing on the exchange.
Prior to the full-scale invasion, the company completed a deal with American SPAC Cohen Circle Acquisition Corp., valuing "Kyivstar" at $2.3 billion. Although stock prices fluctuate, they currently exceed initial expectations set in the deal, trading around $12.
"Commenting on the semi-annual results, we notice several trends. Excluding the impact of the customer loyalty program "Kyivstar" launched after the cyberattack in December 2023, our real (organic) growth is 18% year-over-year. In terms of profit before tax, Kyivstar's growth is 14%. However, we are observing a long-term trend of declining profitability in the business," said the CEO of Kyivstar.
According to him, the company is facing significant operational costs related to the war and enhancing network energy resilience. "If we add the acquired Uklon service, which we began consolidating in Q2 2025, we see a 23% growth in revenue and a 17% growth in profit before tax," Komarov noted.
When asked about the impact of sanctions on stock quotes, Oleksandr Komarov replied: "None of this affects our stock quotes. All seizures were lifted from the company in December 2024, and that chapter is behind us. To become a public company, one must meet extremely high and stringent compliance standards, as Nasdaq does not allow discredited players to enter."
The head of Ukraine's largest mobile operator also mentioned that the company’s development strategy outlines three potential avenues for inorganic growth.
The company is focusing on assets related to its core business — telecommunications. Currently, these include two types of assets: infrastructure (such as Ukrainian Tower Company) and operators providing fixed internet services to households.
"Inorganic growth will help us transform "Kyivstar" from a telecom operator into a digital services operator with a telecom license. We are looking to expand our presence in mobility. We are also interested in e-commerce, fintech, and digital advertising sectors," concluded President Oleksandr Komarov.
As previously reported, "Kyivstar" is considering investing in the largest Ukrainian cloud solutions provider GigaCloud. The mobile operator has already submitted an application to the Antimonopoly Committee to acquire a stake in GigaCloud, reportedly aiming to buy 80% of GigaCloud's shares.
In the first half of 2025, "Kyivstar" increased its revenue by 36.1% compared to the same period last year, reaching UAH 22.6 billion. In the second quarter, revenue reached UAH 11.9 billion, which is 25.8% higher than in the second quarter of 2024.
