XML 27 R10.htm IDEA: XBRL DOCUMENT
v3.26.1

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2025
Disclosure of operating segments [abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Management analyzes the Company’s operating segments separately because of different economic environments and stages of development in different geographical areas, requiring different investment and marketing strategies. Management evaluates the performance of the Company’s segments on a regular basis, primarily based on earnings before interest, tax, depreciation, amortization, impairment, gain/loss on disposals of non-current assets, other non-operating gains/losses, share of profit/loss of joint ventures and associates and listing expense (“Adjusted EBITDA”) along with assessing the capital expenditures excluding certain costs such as those for telecommunication licenses and right-of-use assets (“CAPEX excl. licenses and ROU”). Management does not analyze assets or liabilities by reportable segments. Reportable segments consist of Pakistan, Ukraine, Kazakhstan, Uzbekistan and Bangladesh for 2025, 2024 and 2023. We also present our results of operations for “HQ and eliminations” and “Others” separately, although these are not reportable segments. “HQ, eliminations and Others” represents our operations in Kyrgyzstan and transactions related to management activities within the Group. Operations in Kyrgyzstan has been sold during the year ended December 31, 2025, for further details refer to Note 11—Significant transactions of these consolidated financial statements. Financial information by reportable segment for the periods ended December 31 is presented in the following tables. Inter-segment transactions are not material and are made on terms which are comparable to transactions with third parties.
| Total revenue | Selling, General and Administrative Expenses * | Adjusted EBITDA | CAPEX excl licenses and ROU **
| 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023
Pakistan | 1,624 |  | 1,382 |  | 1,119 |  | 737 |  | 650 |  | 506 |  | 712 |  | 584 |  | 502 |  | 208 |  | 193 |  | 130 |
Ukraine | 1,164 |  | 925 |  | 919 |  | 397 |  | 307 |  | 283 |  | 650 |  | 518 |  | 541 |  | 391 |  | 247 |  | 169 |
Kazakhstan | 816 |  | 854 |  | 774 |  | 266 |  | 142 |  | 131 |  | 408 |  | 442 |  | 421 |  | 201 |  | 179 |  | 165 |
Bangladesh | 460 |  | 520 |  | 570 |  | 192 |  | 246 |  | 261 |  | 226 |  | 180 |  | 214 |  | 39 |  | 69 |  | 105 |
Uzbekistan | 308 |  | 273 |  | 268 |  | 151 |  | 273 |  | 239 |  | 115 |  | 100 |  | 112 |  | 81 |  | 115 |  | 65 |
HQ, eliminations and Others | 27 |  | 50 |  | 48 |  | 140 |  | 181 |  | 226 |  | (101) |  | (133) |  | (178) |  | 6 |  | 15 |  | 15 |
Total | 4,399 |  | 4,004 |  | 3,698 |  | 1,883 |  | 1,799 |  | 1,646 |  | 2,010 |  | 1,691 |  | 1,612 |  | 926 |  | 818 |  | 649 |
* Upon adoption of IFRIC agenda decision in July 2024, on the disclosure of revenues and expenses for reportable segments related to application of requirements of IFRS 8, the Company has included Selling, general and administrative expenses by reportable segment, including comparative information. ** This includes capital expenditures on property, plant and equipment of US$1,309 (2024: US$867), intangible assets of US$149 (2024: US$167) and advances for assets not yet transferred of US$9 (2024: nil) after deducting additions in licenses of US$1 (2024: US$35), right-of-use assets of US$540 (2024: US$181). The following table provides the reconciliation of Total Adjusted EBITDA to Profit before tax from continuing operations to for the years ended December 31:
| 2025 | 2024 | 2023
Total Adjusted EBITDA | 2,010 | 1,691 |  | 1,612 |
Net foreign exchange (loss) / gain | (41) |  | 9 |  | 81 |
Other non-operating (loss) / gain, net | (130) |  | 31 |  | 20 |
Finance income | 52 |  | 49 |  | 60 |
Finance costs | (535) |  | (495) |  | (531) |
Gain on disposal of subsidiaries | 400 |  | 145 |  | — |
Gain on disposal of non-current assets | 2 |  | 5 |  | 46 |
Impairment (loss) / reversal, net | (9) |  | (3) |  | 6 |
Amortization | (224) |  | (199) |  | (208) |
Depreciation | (578) |  | (529) |  | (527) |
Listing expense | (162) |  | — |  | — |
Profit before tax from continuing operations | 785 |  | 704 |  | 559 |

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2025-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2025-en-r&doctype=Standard&dita_xref=IFRS08_g20-24_TI -URIDate 2025-03-27 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration