In January-September of this year, the manufacturer of agricultural machinery and special vehicles, Fregat Plant JSC (Pervomaisk, Mykolaiv region), increased its net sales revenue by 42.4% year-on-year to UAH 134.7 million.
According to the company’s financial report published in the National Securities and Stock Market Commission’s (NSSMC) information disclosure system, its loss increased 5.4 times to UAH 41.6 million due to a 7.5-fold increase in expenses under the “other expenses” item to UAH 48 million.
For its part, the plant earned UAH 50.7 million in gross profit, up 46.4% compared to January-September 2023, and its operating profit almost tripled to UAH 16.4 million.
As reported, in the first half of this year, the plant increased its loss by 5.8 times compared to the same period in 2023, to UAH 29.14 million, while revenue increased by 56.3% to UAH 99.2 million.
Thus, in the third quarter of 2024, the plant increased its loss by UAH 4.7 million to UAH 12.4 million, while net income increased by 14% to UAH 35.5 million.
Fregat specializes in the production of irrigation systems, road fencing, metal structures, as well as engineering products and special-purpose machinery.
The company exports road safety fences to Germany, the Netherlands, Poland, and the former CIS countries (except Russia and Belarus), where it also supplies agricultural machinery for crop production.
The main foreign customers are BBV Baustahl und Blechverarbeitungsgesellschaft mb, Scuer GmbH (Germany), Meerman Technisch Buro B.V. (Netherlands), and Agrorada (Poland).
As of October 1 this year, the average number of employees was 240, with an average salary of UAH 11.5 thousand.
In 2023, the plant reduced its net loss by 5.4 times compared to 2022, to UAH 25.8 million, while net income decreased by 16% to UAH 140 million.
As of the third quarter of 2024, Fregat Engineering Limited (Cyprus) owns more than 96.25% of the authorized capital of Fregat Plant JSC, and the ultimate beneficiaries, according to opendatabot, are members of the Dementienko family from Dnipro.
