Kyivstar sees 10.3% rise in net profit in 2018
The leading Ukrainian mobile communications operator Kyivstar (Kyiv) in 2018 saw UAH 6.802 billion in net profit, which is 10.3% more than in 2017, according to a company announcement on holding the annual general meeting of shareholders scheduled for April 22, 2019.
According to the report, the retained earnings of the company at the end of the year totaled UAH 15.778 billion compared with UAH 16.217 billion a year ago.
"To determine that the accumulated retained earnings of the company as of the end of 2018 are retained earnings that are subject to further distribution in the form of dividends (annual or interim) or any other use as decided by the general meeting of shareholders of the company," the company said in a draft decision of the meeting.
In accordance with the announcement, at the end of 2018, Kyivstar had UAH 5.2 billion of free cash.
Its noncurrent liabilities for the year increased slightly, to UAH 0.34 billion, while the current liabilities by 80.3%, to UAH 7.78 billion, and the total receivables decreased 23.8%, to UAH 1.03 billion.
In 2018, the company increased its fixed assets by 13.5%, to UAH 8.11 billion, and its total assets increased by 14.1%, to UAH 24.81 billion.
Kyivstar is a Ukrainian mobile communications operator. VEON international group (earlier VimpelCom) is the shareholder in Kyivstar. The group's shares are listed on NASDAQ (New York).