11:44 04.11.2019

Kyivstar pays UAH 4.5 bln of dividends in Q3 2019

1 min read
Kyivstar pays UAH 4.5 bln of dividends in Q3 2019

 Kyivstar, the mobile communications operator, in July-September 2019 upstreamed UAH 4.5 billion in dividends, according to quarterly financial statements posted on the website of Kyivstar's parent company VEON.

"In July 2019, the National Bank of Ukraine abolished limits on the repatriation of dividends. VEON believes that this is a meaningful step forward in supporting group cashflows," the parent company said.

Thanks to the appreciation of the hryvnia exchange rate, in U.S. dollars the operator showed larger growth in financial figures: total revenue of Kyivstar in U.S. dollars grew by 28% in Q3 2019 year-over-year, to $231 million, earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 44%, to $149 million, and EBITDA margin grew by 7.2 percentage points (p.p.), to 64.7%.

Kyivstar is the largest Ukrainian mobile operator. It provides communication and data transfer services based on a wide range of mobile and fixed line technologies, including 4G. As of the end of 2018, its services were used by about 26.4 million mobile subscribers and about 0.9 million fixed line Internet customers.

According to VEON Ltd. (the Netherlands), the company fully owns Kyivstar.

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