News Summary:
VEON, parent company of Ukraine's Kyivstar, raised its 2026 earnings outlook on July 31, signaling confidence in its strategy of expanding beyond traditional telecoms services and unveiling new digital investments in Ukraine. The company reported its second-quarter and six-month results ending June 30, 2026, showing second-quarter sales of $1271 million, an increase from $1087 million a year prior. Digital revenue climbed 53.6% year-over-year to $342 million, constituting 26.9% of Group revenues with a 36.1% digital EBITDA margin, prompting VEON to also raise its 2026 revenue and EBITDA outlook. Earlier on July 31, its Ukrainian subsidiary Kyivstar reported a 27.2% year-on-year revenue increase to UAH 15.081 billion for the second quarter. This growth stemmed from tariff optimization, repricing, higher mobile data consumption, and B2B services development, with telecommunications and infrastructure revenues rising 16.1% to UAH 11.826 billion. Previously on July 31, CEO Kaan Terzioglu emphasized that digital services are fueling growth, leveraging satellite connectivity, financial services, and AI to expand access across underserved markets, defining telecommunications as a foundation rather than a destination.
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