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01/11 16:19
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call summary shows strong financial performance with revenue and EBITDA growth, an increased EBITDA margin, and a strong cash position. The strategic partnership in Pakistan and the ongoing share buyback program add positive momentum. Despite regulatory and supply chain risks, optimistic guidance and digital revenue growth are favorable. The market cap suggests moderate sensitivity to these factors, leading to a predicted positive stock price movement in the next two weeks.
Revenue $1 billion (8.9% increase year-over-year); Adjusted for TNS+ deconsolidation, like-for-like growth would be 11.7%.
EBITDA $439 million (13.7% increase year-over-year); Adjusted for identified items, underlying EBITDA growth was 10.4%.
Direct Digital Revenues $147 million (50.2% increase year-over-year); Now represent 14.3% of total revenues, up from 10.4% last year.
EBITDA Margin 42.8% (1.8 percentage points increase year-over-year); Reflects pricing controls and disciplined cost management.
CapEx Intensity 13.1%; Last 12-month CapEx intensity is 20.4%, but excluding Ukraine, it stands at 17.9%.
Equity Free Cash Flow $387 million; Expected to improve over the coming quarters.
Net Debt $1.8 billion; Net debt-to-EBITDA ratio improved to 1.2x.
Cash Position $1.8 billion (5% increase quarter-on-quarter); Includes $662 million at headquarters level.
Multiplay Customers 54% of consumer revenues generated by multiplay customers (15% year-over-year growth); Multiplay customers generate 3.7x the ARPU of voice-only subscribers.
4G Users Growth 3.3% year-on-year increase; 4G penetration increased by 4.3 percentage points.
Direct Digital Revenues Growth: Direct digital revenues grew by 50.2% year-on-year, now representing 14.3% of total revenues.
Digital Services Expansion: The company is accelerating its evolution into a services company with innovative enterprise architecture and AI-powered features.
Super App Launches: Beeline Kazakhstan introduced the Janymda Super App, offering a range of solutions including financial services and entertainment.
Digital Financial Services Growth: JazzCash in Pakistan saw a 66% year-on-year growth in revenues.
Market Expansion in Pakistan: Revenue growth at 20.3% and EBITDA growing at 13.2%.
Uklon Acquisition in Ukraine: Kyivstar's acquisition of Uklon marks an expansion into digital consumer services.
NASDAQ Listing Progress: Kyivstar is making progress on its proposed NASDAQ listing, valued at USD 2.3 billion.
Infrastructure Partnership in Pakistan: Strategic partnership with Engro Corporation to unlock USD 563 million in value.
EBITDA Margin Improvement: EBITDA margins grew by 1.8 percentage points to 42.8%.
Debt Reduction: Net debt decreased to $1.8 billion, improving the net debt-to-EBITDA ratio to 1.2x.
CapEx Intensity: CapEx intensity for the quarter was 13.1%, with a 12-month basis at 20.4%.
Cash Position: Cash position improved to $1.8 billion as of March 31.
Share Buyback Program: Second phase of share buyback program commenced, with $23 million of shares repurchased.
Leadership Strengthening: Appointment of Johan Buse as CEO of Bangalink to strengthen leadership capacity.
Asset-Light Strategy: Progressing on initiatives to unlock infrastructure and tower value in all markets.
Operational Efficiencies: Optimizing investment phasing to improve equity free cash flow, which stands at $387 million.
Regulatory Issues: EBITDA in Kazakhstan was impacted by the absence of regulatory tax benefits for the quarter, which is expected to return in future quarters.
Supply Chain Challenges: The strategic partnership with Engro Corporation in Pakistan is progressing well, which is expected to unlock USD 563 million in value, indicating potential supply chain challenges that need to be addressed.
Economic Factors: The company is navigating macroeconomic headwinds, particularly in Bangladesh, where the interim government's actions are crucial for sustainable recovery. Additionally, inflation rates across markets are trending lower, which presents both opportunities and challenges.
Cybersecurity Risks: The previous cyberattack in Ukraine had a significant impact on revenue growth, highlighting ongoing cybersecurity risks that could affect future performance.
Competitive Pressures: The competitive landscape in Kazakhstan is challenging, with Beeline's performance being compared to 5G competitors, indicating the need for continuous innovation and differentiation.
Revenue Growth: Achieved 8.9% revenue growth in Q1 2025, with underlying local currency growth at 12.9%.
Digital Services Expansion: Direct digital revenues grew by 50.2%, now representing 14.3% of total revenues.
Infrastructure Value Unlocking: Strategic partnership with Engro Corporation in Pakistan expected to unlock USD 563 million in value.
Share Buyback Program: Second phase of share buyback program commenced, with $23 million of shares repurchased.
Debt Management: Repayment of $472 million of bonds in April 2025, with no additional maturities until 2027.
Kyivstar NASDAQ Listing: Progressing on Kyivstar's listing on NASDAQ, expected to enhance visibility and profile.
Revenue Guidance: Full-year revenue growth projected at 12% to 14% in underlying local currency.
EBITDA Guidance: Expected underlying EBITDA growth of 13% to 15% for the full year.
CapEx Guidance: CapEx intensity expected to remain in the range of 17% to 19% for the year.
Inflation Rate Projection: Projected weighted average inflation rate of 8.2% for the year.
Share Buyback Program: The second phase of the share buyback program commenced on March 25, 2025, with $23 million of shares bought back, representing around 2/3 of the total allotment of $35 million.
The earnings call summary presents a mixed but generally positive outlook. Despite a Q3 EPS loss due to noncash charges, the company shows strong revenue growth, improved leverage, and significant digital revenue expansion. The Q&A section highlights strategic asset management and growth plans, particularly in fintech and digital services. Positive market reaction is likely due to increased guidance, strong cash flow, and strategic expansions, offsetting the EPS loss. The market cap suggests a moderate reaction, leading to a positive stock price movement prediction of 2% to 8%.
The earnings call highlights strong revenue growth, strategic partnerships, and a robust digital expansion plan. The Q&A session revealed positive analyst sentiment towards 4G and AI strategies, despite some uncertainties in valuation strategies. The company's solid financial metrics, optimistic guidance, and shareholder return plans, along with strategic partnerships, are likely to positively influence the stock price. Given the market cap, a positive reaction is expected within the 2% to 8% range over the next two weeks.
The earnings call indicates strong financial performance with substantial revenue and EBITDA growth, an ongoing share buyback program, and strategic initiatives like the Kyivstar listing. Despite some concerns in Kazakhstan and cybersecurity impacts, optimistic guidance and a strong cash position are positive indicators. The market cap suggests moderate volatility, so the stock is likely to see a positive movement of 2% to 8%.
The earnings call summary shows strong financial performance with revenue and EBITDA growth, an increased EBITDA margin, and a strong cash position. The strategic partnership in Pakistan and the ongoing share buyback program add positive momentum. Despite regulatory and supply chain risks, optimistic guidance and digital revenue growth are favorable. The market cap suggests moderate sensitivity to these factors, leading to a predicted positive stock price movement in the next two weeks.
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