Kyivstar Announces 1Q05 Results

Kyivstar’s 1Q05 net revenue amounted to USD 192.6 mn (+56% yoy). Kyivstar’s EBITDA totaled USD 109.3 mn (+50%), while net income reached USD 50.1 mn (+22% yoy). Concorde Capital: Like its main competitor UMC, Kyivstar reduced its income margin, but not because of increased competition. Kyistar’s EBITDA margin fell only 3% to 57%. The main reason behind the decrease in net margins was the growth in interest expenses at the company.

1Q05 Mobile Provider Results

                  Net margins                   1Q04  1Q05                  Sales Growth yoy

UMC                                                28%      24%                  54%

Kyivstar                                           34%      26%                   59%