Core Insights - Kyivstar Group reported strong financial results for Q2 2025, showcasing resilience and growth in its digital operator strategy [3][5][6] - The integration of Uklon has significantly contributed to revenue and profitability, reinforcing Kyivstar's position in the market [3][5][6] Financial Performance - Total operating revenue reached USD 284 million, a 20.9% increase year-on-year in USD and 25.9% in local currency [5][6] - Profit for the period was USD 82 million, up 13.9% year-on-year in USD and 18.6% in local currency, with a profit margin of 28.9% [5][6] - Adjusted EBITDA was USD 165 million, reflecting an 18.7% year-on-year increase in USD and 23.6% in local currency, with an adjusted EBITDA margin of 58.1% [5][6] Digital Growth - Direct digital revenue now accounts for 10.3% of total operating revenue, with Uklon contributing USD 21.7 million in revenue and USD 9.3 million in adjusted EBITDA [5][6] - The Multiplay customer base increased by 23.7% year-on-year to 6.5 million, representing 31.7% of one-month active mobile customers [6] - Total digital monthly active users reached 13.4 million, a 51.2% increase from the previous year, including 3.5 million users from Uklon [6] Strategic Initiatives - The company is on track for its Nasdaq listing, which is expected to enhance its investment appeal and support Ukraine's digital transformation [3][13] - Kyivstar Group plans to invest USD 1 billion in Ukraine from 2023 to 2027, focusing on infrastructure and technological development [10]

Group 1: Adobe Inc. Financial Results - Adobe reported second-quarter revenue of $5.87 billion, exceeding analyst estimates of $5.79 billion [1] - The company reported adjusted earnings of $5.06 per share, surpassing the estimated $4.96 per share [1] - Adobe raised its FY25 guidance following the positive financial results [1] Group 2: Stock Movements - Adobe shares fell 1.8% to $406.55 in pre-market trading [2] - Liminatus Pharma, Inc. shares tumbled 16.2% to $17.03 after a previous jump of over 82% [4] - Generation Essentials Group TGE fell 10.6% to $8.46 after a 14% dip on Thursday [4] - VEON Ltd shares dipped 9.9% to $42.36 after a 5% increase on Thursday [4] - Arrive AI Inc. fell 8.8% to $8.50 after gaining around 10% previously [4] - SEALSQ Corp LAES fell 7.3% to $3.94 in pre-market trading [4] - Planet Labs PBC PL fell 7.1% to $5.07 after announcing a seven-figure NATO contract [4] - Omada Health, Inc. OMDA dipped 6.8% to $16.00 in pre-market trading [4] - COMPASS Pathways plc CMPS fell 6% to $4.2500 in pre-market trading [4] - FibroGen, Inc. FGEN fell 4.4% to $0.2949 following a 1-for-25 reverse stock split [4]

Core Points - Kyivstar Group Ltd., Ukraine's leading digital operator, has filed a Registration Statement with the SEC as part of its plans to list on Nasdaq following a business combination with Cohen Circle Acquisition Corp. I [1][2][3] - The business combination is expected to close in the third quarter of 2025, pending shareholder approval and customary closing conditions [3][4] - Kyivstar Group serves over 23 million mobile customers and 1.1 million home internet customers, and plans to invest USD 1 billion in Ukraine by 2027 [5] Company Overview - Kyivstar Group operates as a major provider of mobile communication in Ukraine, offering a range of services including 4G, big data, cloud solutions, and digital TV [5] - VEON, the parent company of Kyivstar Group, provides digital services to nearly 160 million customers across six countries [6] - Cohen Circle Acquisition Corp. I is a special purpose acquisition company formed to facilitate mergers and business combinations in the technology and financial services sectors [7][8]

Core Insights - Kyivstar Group reported strong financial results for Q1 2025, with total operating revenue reaching USD 255 million, a 37.1% increase year-on-year in USD and 49.6% in local currency terms [2][6][7] - The company achieved a profit of USD 44 million for the period, reflecting a 22.2% year-on-year increase in USD and 33.7% in local currency terms, resulting in a profit margin of 17.3% [2][6][7] - Adjusted EBITDA for Q1 2025 was USD 140 million, up 50.5% year-on-year in USD and 64.6% in local currency terms, with an adjusted EBITDA margin of 54.9% [2][6][7] Financial Performance - Total operating revenue for Q1 2025 was USD 255 million, up 37.1% year-on-year in USD and 49.6% in local currency terms [2][6][7] - Profit for the period amounted to USD 44 million, a 22.2% increase year-on-year in USD and 33.7% in local currency terms [2][6][7] - Adjusted EBITDA reached USD 140 million, reflecting a 50.5% year-on-year increase in USD and 64.6% in local currency terms [2][6][7] Strategic Developments - The company completed the acquisition of Uklon, a leading ride-hailing business in Ukraine, for approximately USD 155.2 million [6][14] - Kyivstar Group increased its stake in Helsi, Ukraine's largest digital health platform, from 69.99% to 97.99% [6][14] - The company is progressing towards a listing on the Nasdaq Stock Market, following a business combination agreement with Cohen Circle Acquisition Corp. [5][9] Customer Growth - The Multiplay customer base grew by 40.7% year-on-year to 6.1 million customers, representing 29.5% of one-month-active mobile customers [7] - Total digital monthly active users across Kyivstar Group's digital applications reached 10.3 million in Q1 2025, up 32.9% from 7.7 million a year earlier [7]

Core Insights - VEON Ltd. published its 2024 Integrated Annual Report, highlighting strong operational and financial performance along with a commitment to social impact [1][2][3] Financial Performance - Group revenues for FY24 increased by 8.3% year-on-year, while Group EBITDA grew by 4.9% year-on-year in reported currency [13] - Direct revenues from digital services accounted for 11.5% of total revenues, growing at a rate of 63% year-on-year in reported currency [13] Digital Transformation and AI Initiatives - VEON served 122 million total monthly active users across its digital services portfolio by the end of 2024, providing access to financial services, digital information, entertainment, healthcare, and learning opportunities [4] - The company launched AI-based solutions, including Kaz-LLM, a large language model in Kazakhstan, as part of its AI1440 ambition to augment human capabilities [5] Commitment to Ukraine - VEON and Kyivstar committed USD 1 billion in investments from 2023 to 2027 to rebuild Ukraine's digital infrastructure and expand essential digital services [6] - Key milestones included partnerships for satellite-based services and enhancing energy resilience [6] Energy Efficiency and Sustainability - The number of Base Transceiver Stations (BTS) using power-saving technology increased from approximately 63,000 in 2023 to 70,000 in 2024 [7] - The number of base stations powered by renewable energy rose from 993 in 2023 to 1,085 in 2024, while overall energy consumption in offices decreased by nearly 28% [7] Governance and Corporate Structure - VEON streamlined its governance by consolidating trading in its shares to the Nasdaq Stock Market and relocating its headquarters to the Dubai International Financial Center [9][10] Investment in Human Capital - The company invested USD 4.4 million in employee training and development in 2024, up from USD 2.6 million in 2023 [11] - Initiatives to support women's inclusion in the workforce were launched, with significant increases in women's representation in leadership roles across various countries [12]

Group 1 - VEON Ltd. has completed the reorganization of VEON Holdings B.V. and finalized its consent solicitation process, facilitating a business combination with Cohen Circle Acquisition Corp. I, leading to Kyivstar Group Ltd. listing on Nasdaq under the ticker symbol KYIV [1][2] - The reorganization involved a legal demerger in the Netherlands, focusing VEON Holdings B.V. solely on Kyivstar and related assets, while other core businesses were transferred to newly formed Dutch entities [2] - VEON secured approval from 95.83% of its 2027 bondholders to transfer the issuer from VEON Holdings B.V. to VEON MidCo B.V., with unanimous support at a meeting held on January 30, 2025 [3] Group 2 - VEON operates across six countries, providing connectivity and digital services to nearly 160 million customers, contributing to economic growth through technology-driven services [4] - Kyivstar, as Ukraine's largest digital operator, serves over 23 million mobile subscribers and 1.1 million Home Internet fixed line customers, and has committed to invest USD 1 billion into the Ukrainian economy from 2023 to 2027 [5] - Kyivstar has allocated over UAH 2 billion in the past two years to support Ukraine during wartime, including assistance for the Armed Forces and social projects [5]

Core Points - VEON Ltd. has scheduled its 2025 Annual General Meeting of Shareholders for May 8, 2025, with a record date set for March 31, 2025 [1] - The Board has recommended the re-election of seven current Board members, including five nominees from shareholders holding over 5% of the issued share capital [2] - The AGM agenda includes the re-appointment of UHY LLP as the external auditor for the financial year ending December 31, 2025, and the presentation of the audited financial statements for the year ended December 31, 2024 [3] Company Overview - VEON is a digital operator providing connectivity and digital services to nearly 160 million customers across six countries, representing over 7% of the world's population [5]

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Kindly note that our content on Seeking Alpha and other platforms doesn't constitute financial advice ...

Core Viewpoint - VEON Ltd. announces the acquisition of Uklon group, a leading Ukrainian ride-hailing and delivery platform, by its subsidiary Kyivstar, marking an expansion into digital consumer services and reinforcing confidence in Ukraine's digital growth potential [1][4][7]. Company Overview - VEON is a global digital operator serving nearly 160 million customers across six countries, focusing on technology-driven services that empower individuals and drive economic growth [9]. - Kyivstar is Ukraine's largest digital operator, with over 23 million mobile subscribers and more than 1.1 million Home Internet fixed line customers as of December 2024 [10]. - Uklon, founded 15 years ago, is the largest ride-hailing player in Ukraine, operating in 27 cities and uniting over 100,000 driver-partners [2][11]. Acquisition Details - Kyivstar will acquire 97% of Uklon shares for a total consideration of USD 155.2 million, with Uklon CEO Serhii Hryshkov expected to remain in his position [3]. - The acquisition is subject to customary closing conditions and approvals [3]. Strategic Importance - The acquisition is seen as a strategic investment in Ukraine's digital economy, complementing Kyivstar's existing digital services such as Helsi and KyivstarTV [4]. - Uklon has facilitated over 100 million rides and more than 3 million deliveries in 2024, indicating its significant market presence [2]. Future Prospects - VEON plans to explore the expansion of Uklon's capabilities beyond Ukraine and Uzbekistan, leveraging its digital operators in Kazakhstan, Pakistan, and Bangladesh [4]. - VEON has committed to investing USD 1 billion in Ukraine's digital future between 2023 and 2027, including partnerships to enhance connectivity [7]. Market Position - Uklon is recognized as a technology pioneer in ride-hailing and has successfully entered the delivery business, showcasing rapid organic development [6]. - The acquisition is expected to enhance Kyivstar's ability to offer digital experiences to millions of Ukrainians [5].

Core Viewpoint - VEON Ltd. and Cohen Circle Acquisition Corp. I have signed a business combination agreement that will lead to the listing of JSC Kyivstar on the Nasdaq Stock Market, marking a significant milestone for Ukraine's economic future and providing international investors with access to the Ukrainian market [1][4][5]. Company Overview - Kyivstar is Ukraine's largest digital operator, serving over 24 million customers with fixed and mobile communication services [8][10]. - The company has a strong consumer digital service portfolio, including a healthcare platform with over 28 million registered patients and a streaming platform with 2 million monthly active users [8]. - Kyivstar plans to invest USD 1 billion into new telecom technologies in Ukraine from 2023 to 2027 [10]. Business Combination Details - Following the business combination, Kyivstar Group will be listed on Nasdaq under the ticker symbol KYIV, with VEON retaining a minimum of 80% ownership [2]. - The transaction assigns a pro-forma valuation of USD 2.21 billion to Kyivstar at closing [8]. - The business combination is expected to close in Q3 2025, pending shareholder approval and customary closing conditions [2][20]. Management Commentary - VEON's Chairman emphasized that Kyivstar's listing will be a defining moment for Ukraine's economic future and a unique opportunity for global investors [4]. - The CEO of VEON highlighted Kyivstar's strong financial profile and governance structure, which are expected to attract international investors [5]. - Kyivstar's CEO noted the company's resilience during the war and its commitment to rebuilding Ukraine's infrastructure [6]. Advisors - Rothschild & Co is acting as the lead financial advisor to VEON, while BTIG, LLC and Cantor Fitzgerald & Co. are also involved as capital markets advisors [9].