VEON Highlights Uklon’s Expansion into Travel, Strengthening its Mobility Ecosystem in Ukraine

VEON (NASDAQ: VEON) highlighted Uklon’s March 25, 2026 launch of a beta Travel service, enabling domestic and international bus ticket bookings inside the Uklon app.

Rhea-AI Summary

VEON (NASDAQ: VEON) highlighted Uklon’s March 25, 2026 launch of a beta Travel service, enabling domestic and international bus ticket bookings inside the Uklon app.

The move expands Uklon from urban ride‑hailing to intercity and cross‑border mobility, leveraging 3.8 million monthly active users and an annualized revenue run rate of over USD 100 million. As of Q4 2025 Uklon operated in 27 cities, logged 43.6 million rides and completed 1.3 million deliveries during the quarter.

Positive

• Annualized revenue run rate > USD 100 million
• Addressable market expanded to intercity and international mobility
• 3.8 million monthly active users provide scale for cross‑sell
• Operations in 27 cities with 43.6M rides in Q4 2025

Negative

• None.

Argus Mar 25 session

+1.10% close to close Open Argus

Details

News Market Reaction – VEON

On Mar 25, the day this news came out, VEON closed 1.10% above the previous close.

Data tracked by StockTitan Argus for the Mar 25 session.

Key Figures

Revenue run rate: Over USD 100 million Monthly active users: 3.8 million Operating cities: 27 cities +3 more

Revenue run rate

Over USD 100 million

Uklon annualized revenue run rate

Monthly active users

3.8 million

Uklon ride-hailing and delivery MAUs

Operating cities

27 cities

Uklon footprint in Ukraine as of Q4 2025

Rides booked

43.6 million

Uklon rides in Q4 2025

Deliveries completed

1.3 million

Uklon deliveries in Q4 2025

Monthly active users

3.8 million

Restated Q4 2025 MAUs figure in operational metrics

Historical Context

5 past events · Latest: Mar 17

5 events

1. Mar 17

   Leadership changes

   24h Move

   -2.9%

   Senior leadership appointments across Beeline units and new digital assets role.

2. Mar 16

   Annual report filing

   24h Move

   +0.2%

   Filing of 2025 Form 20‑F and audited financial statements with SEC.

3. Mar 13

   Earnings and growth

   24h Move

   +14.2%

   Strong 4Q25 and FY25 results with rapid digital revenue and EBITDA growth.

4. Mar 10

   Spectrum acquisition

   24h Move

   +0.0%

   Pakistan spectrum auction where Jazz secured the largest 190 MHz allocation.

5. Mar 06

   Insurance acquisition

   24h Move

   +1.5%

   Agreement for Jazz to acquire a controlling stake in TPL Insurance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

annualized revenue run rate, monthly active users, addressable market, ride-hailing, +1 more

5 terms

annualized revenue run rate financial

"Uklon is already operating at an annualized revenue run rate of over USD 100 million"

Annualized revenue run rate is an estimate of how much revenue a company would generate over a full year if its current short-term sales pace (for a week, month or quarter) continued unchanged; it simply multiplies the recent period’s revenue to project a 12‑month total. Investors use it as a quick snapshot to judge growth and set expectations—like using a car’s current speed to estimate yearly mileage—but it can mislead if the recent period was unusually high or low.

monthly active users technical

"With an established base of 3.8 million monthly active users across ride-hailing and delivery"

Monthly active users are the number of unique individuals who engage with a product or service at least once within a month. This measure helps gauge how many people regularly use or rely on it, similar to counting how many customers visit a store each month. Investors look at this number to assess the popularity, growth, and overall health of a platform or service.

addressable market financial

"The addition of Travel expands Uklon’s addressable market beyond urban ride-hailing"

Addressable market is the total possible demand for a product or service within a specific group of potential customers. It represents the maximum number of people or businesses that could buy it if the product were available and marketed to everyone who might want it. For investors, understanding the addressable market helps gauge the growth potential and size of the opportunity for a business or industry.

ride-hailing technical

"Uklon is Ukraine’s leading ride-hailing service and a subsidiary of Kyivstar"

A ride-hailing service is a mobile app or online platform that matches passengers with drivers who provide on-demand, paid transportation; think of it like ordering a taxi through your phone the way you order a meal. It matters to investors because these services can scale quickly, generate fees and data without owning many vehicles, and face important factors such as local rules, driver costs, and customer growth that directly affect future profits and risk.

adtech technical

"which already serves both consumers and businesses through ride-hailing, delivery, and adtech services"

Adtech is the set of software, platforms and data tools that buy, sell and measure digital advertising across websites, apps and streaming services. Think of it as a digital marketplace and toolkit that helps advertisers find the right audiences, publishers sell space, and both sides track what works; for investors it drives revenue growth, efficiency and competitive edge but also exposes companies to shifting privacy rules and technology risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Kyiv, Dubai and New York, March 25, 2026 – VEON Ltd. (NASDAQ: VEON), a global digital operator (the “Company” or “VEON”), today announced that Uklon has expanded its mobility ecosystem with the launch of a new “Travel” service, enabling users to book domestic and international bus tickets directly within the Uklon app.

Uklon is Ukraine’s leading ride-hailing service and a subsidiary of Kyivstar (Nasdaq: KYIV; KYIVW), VEON’s digital operator in Ukraine.

The new Travel service builds on Uklon’s existing platform, which already serves both consumers and businesses through ride-hailing, delivery, and adtech services. By integrating intercity and cross-border bus travel, Uklon is evolving into a comprehensive, one-stop mobility platform.

“Travel is a natural next step in building the Uklon ecosystem,” said Serhii Hryshkov, CEO of Uklon, “With air travel unavailable and rail capacity under pressure, we are giving users a simple way to plan and book trips within Ukraine and to Europe through the same app they already use every day.”

The service is launching in beta and is designed to address growing demand for flexible, accessible transport options across the region.

The addition of Travel expands Uklon’s addressable market beyond urban ride-hailing into intercity and international mobility, positioning the platform to capture a larger share of transportation spend per user. With an established base of 3.8 million monthly active users across ride-hailing and delivery, Uklon has a strong base from which to scale new verticals.

Uklon is already operating at an annualized revenue run rate of over USD 100 million, underscoring the strength of its core business. The expansion into travel reinforces Uklon’s role as a multi-service platform within Kyivstar’s and VEON’s broader digital ecosystems. Following Kyivstar’s acquisition of Uklon in March 2025, the business has become a key pillar of Kyivstar’s digital strategy. As of Q4 2025, Uklon operated in 27 cities across Ukraine, with 3.8 million monthly active users, 43.6 million rides booked, and 1.3 million deliveries completed during the quarter. 

About Kyivstar Group Ltd.
Kyivstar Group Ltd. (“Kyivstar”) is a Nasdaq-listed holding company that operates JSC Kyivstar, Ukraine’s leading digital operator and the first Ukrainian company to list on a U.S. stock exchange. Kyivstar’s companies provide a broad range of connectivity and digital services, including mobile and fixed-line voice and data, ride-hailing, e-health, digital TV, and enterprise solutions such as Big Data, cloud, and cybersecurity.

For more information, please visit https://investors.kyivstar.ua.

About Uklon
Uklon is a product-based IT service company that developed the eponymous ride hailing service. Founded in Kyiv in 2010, Uklon is one of the leaders in the ride-hailing market in Ukraine. The company's digital service ecosystem includes Uklon Delivery (delivery service) and the Uklon Ads advertising platform. As of March 2026, the Uklon service is present in 27 cities in Ukraine and on the territory of the Bukovel tourist complex. The company also operates in Tashkent, Uzbekistan.

About VEON 
VEON is a digital operator that provides connectivity and digital services over 150 million connectivity and more than 205 million digital users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.  

Forward-Looking Statements Disclaimer

This release contains “forward-looking statements”, within the meaning of the Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements relating to VEON’s and its subsidiaries’ strategic ambitions. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to VEON’s and its subsidiaries’ strategic ambitions, among others discussed in the section entitled “Risk Factors” in VEON’s 2025 Form 20-F filed with the SEC on March 16, 2026 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.

Contact Information 
VEON
Hande Asik
Chief Communications and Strategy Officer
pr@veon.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did VEON announce about Uklon’s Travel service on March 25, 2026?

Uklon launched a beta Travel service to sell domestic and international bus tickets inside its app. According to the company, the feature integrates intercity and cross‑border bus travel into Uklon’s existing ride‑hailing, delivery and adtech platform.

How does Uklon’s Travel launch affect VEON (VEON) investors?

The launch broadens Uklon’s revenue streams beyond urban rides into intercity and international mobility. According to the company, this leverages Uklon’s existing user base and could increase transportation spend captured per user.

What scale metrics support Uklon’s ability to roll out Travel (VEON)?

Uklon has a base of 3.8 million monthly active users and an annualized revenue run rate above USD 100 million. According to the company, it operated in 27 cities with 43.6 million rides in Q4 2025.

When will Uklon’s Travel feature be broadly available to users?

The Travel service is launching in a beta phase as of March 25, 2026 and is not yet fully rolled out. According to the company, beta aims to address demand for flexible transport across the region before full launch.

How does Uklon’s Travel change its position within Kyivstar and VEON ecosystems?

Travel extends Uklon into a one‑stop mobility platform within Kyivstar and VEON’s digital ecosystems. According to the company, the expansion reinforces Uklon as a multi‑service pillar following Kyivstar’s March 2025 acquisition.