Lifecell, Vodafone and Kyivstar increase profits during the war

Lifecell, Vodafone and Kyivstar increase profits during the war

All Ukrainian mobile operators showed revenue growth in 2023, according to YouControl data. Lifecell, which is in the process of being sold to NJJ Capital by French billionaire Xavier Niel, showed the largest increase. This was reported by Forbes.

The main facts

Kyivstar’s revenue increased to UAH 33.1 billion in 2023. The operator’s revenue increased by 6.8% compared to 2022. The company’s revenue in 2022 amounted to UAH 30.9 billion.

Lifecell received 24.4% more revenue, increasing from UAH 9.4 billion in 2022 to UAH 11.7 billion in 2023. According to Lifecell’s annual report, the company’s revenue amounted to UAH 9.4 billion in 2022.

Vodafone Ukraine, the second largest mobile operator by subscribers, posted revenue of UAH 20.2 billion in 2023, up from UAH 18.8 billion in 2022. The growth was 7.45%.

Київстар надав допомогу з цифровізації та кіберзахисту

Profit and loss

Lifecell is the third largest Ukrainian mobile operator with 9.1 million subscribers. In the third quarter of 2023, the operator reported UAH 555 million in net profit. lifecell built and restored 6,500 base stations during the war.

In December 2023, Kyivstar experienced a major cyberattack, which resulted in a large-scale outage that prevented the operator’s subscribers from using mobile services and Internet access across Ukraine. The technical failure was caused by a hacker attack. After that, Kyivstar announced that it was canceling the next scheduled tariff payment for users. This cost Veon, the operator’s parent company, $100 million.

Vodafone Ukraine’s net profit for the first nine months of 2023 amounted to UAH 3.8 billion, with revenue of UAH 15.9 billion. Vodafone has launched more than 5000 base stations during the war.


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