VEON Highlights Uklon’s Expansion into Travel, Strengthening its Mobility Ecosystem in Ukraine
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.
News Market Reaction – VEON
In the Mar 25 session, VEON gained 1.10%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 17 | Leadership changes | Positive | -2.9% | Senior leadership appointments across Beeline units and new digital assets role. |
| Mar 16 | Annual report filing | Neutral | +0.2% | Filing of 2025 Form 20‑F and audited financial statements with SEC. |
| Mar 13 | Earnings and growth | Positive | +14.2% | Strong 4Q25 and FY25 results with rapid digital revenue and EBITDA growth. |
| Mar 10 | Spectrum acquisition | Positive | +0.0% | Pakistan spectrum auction where Jazz secured the largest 190 MHz allocation. |
| Mar 06 | Insurance acquisition | Positive | +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.
Recent news has mostly seen price moves aligned with generally positive or neutral announcements, with one notable negative reaction to leadership changes.
Over the last month, VEON reported strong 4Q25 and FY25 results, filed its 2025 Form 20‑F, and highlighted major strategic steps in Pakistan and Ukraine. Earnings showing double‑digit revenue and EBITDA growth produced a +14.2% move, while spectrum wins and a TPL Insurance acquisition saw muted-to-modest reactions. Leadership restructuring on Mar 17 coincided with a -2.87% move, indicating some sensitivity to governance changes. Today’s Uklon Travel update extends this digital ecosystem narrative in Ukraine.
Key Terms
annualized revenue run rate financial
monthly active users technical
addressable market financial
ride-hailing technical
adtech technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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
