v3.26.1
FINANCIAL RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure of risk management strategy related to hedge accounting [abstract]  
Schedule of exchange rates for foreign currencies
The exchange rates for foreign currencies, in which the Group’s financial assets and liabilities were denominated, against Ukrainian Hryvnia, as declared by the National Bank of Ukraine as of the dates and periods stated, are as follows:
USDEUR
January 01, 202437.982 42.208 
Average for 202440.159 43.459 
December 31, 202442.039 43.926 
Average for 202541.690 47.085 
December 31, 202542.388 49.857 
Schedule of effect on profit before tax The table shows the effect on the Group’s profit before tax (due to changes in the value of monetary assets and liabilities, including foreign currency derivatives). The Group’s exposure to foreign currency changes for all other currencies is not material.
2025Increase/
(decrease) in %		Increase /
(decrease) of profit
before tax		Increase / (decrease)
of equity
Change in USD exchange rate+10.00 %(6)— 
Change in the EUR exchange rate+10.00 %(1)— 
Change in USD exchange rate-1.00 %1 — 
Change in the EUR exchange rate-1.00 %— — 
2024Increase/
(decrease) in %		Increase /
(decrease) of profit
before tax		Increase / (decrease)
of equity
Change in USD exchange rate+10.00 %34 28 
Change in the EUR exchange rate+10.00 %11 9 
Change in USD exchange rate-1.00 %(3)(3)
Change in the EUR exchange rate-1.00 %(1)(1)
Schedule of maximum credit risk exposure
The Group’s maximum credit risk exposure as of December 31 comprises:
20252024
Cash and cash equivalents455 674 
Security deposits and cash collateral119 64 
Current financial investments2 30 
Financial assets at fair value— 8 
Trade and other receivables37 40 
Loan receivable from VEON Amsterdam— 363 
Indemnity receivable from VEON Amsterdam40 — 
Other receivables from VEON Amsterdam9 — 
Total662 1,179 
Analysis by credit quality of cash and cash equivalents including security deposits and cash collateral at the Group based on credit ratings as published by the credit rating agency Fitch Ratings Inc. ("Fitch") as of December 31 is as follows:
20252024
 - CCC/C - rated157 — 
 - Unrated – Other Ukrainian banks380 493 
 -BBB- Kyivstar Holdings— 245 
 - A-/A/A+ - rated39 — 
Total576 738 
Schedule of financial liabilities maturity profile
The table below shows financial liabilities as of December 31, 2025 and 2024 by their remaining contractual maturity. The amounts disclosed in the maturity table are the contractual undiscounted cash flows, including gross lease obligations (before deducting future finance charges). Such undiscounted cash flows differ from the amount included in the statement of financial position because the statement of financial position amount is based on discounted cash flows.
Maturity profile
As of December 31, 2025Demand and less
than 3 months		3 months to 12
months		12 months to 5
years		More than 5 yearsTotal
Bond liabilities principal amount38 — — — 38 
Bond liabilities accrued interest2 — — — 2 
Lease liabilities*— 100 370 102 572 
Trade and other payables141 — — — 141 
Loan Note Payable - VEON Amsterdam B.V.— 57 — — 57 
Total financial liabilities181 157 370 102 810 
As of December 31, 2024Demand and less
than 3 months		3 months to 12
months		12 months to 5
years		More than 5 yearsTotal
Bond liabilities principal amount— 585 — — 585 
Bond liabilities accrued interest— 6 — — 6 
Lease liabilities*20 62 305 74 461 
Trade and other payables**103 — — — 103 
Loans— 8 — — 8 
Total financial liabilities123 661 305 74 1,163 
*Lease liabilities in the maturity profile presents undiscounted future value of payments, however, Statement of financial position shows present/discounted value of lease liabilities
**Prior period comparatives have been reclassified to conform with the current period presentation