PJSC “Tovkachivsky Mining and Processing Plant” (TGZK, Pershotravneve, Zhytomyr Oblast) reported a net loss of UAH 2.806 million in January-March of this year, compared to a net profit of UAH 4.885 million in the same period last year.
According to the company’s interim report, which is available to the agency “Interfax-Ukraine,” revenue from ordinary activities for this period decreased to UAH 6.307 million from UAH 18.790 million in the first quarter of 2025.
Retained earnings as of the end of March amounted to UAH 463.231 million.
According to the annual report, the company reported a net profit of UAH 6.336 million in 2025, compared to a profit of UAH 1.260 million in 2024, while revenue from ordinary activities amounted to UAH 80.377 million (UAH 91.104 million in 2024).
The average number of full-time employees on the payroll was 110. Compared to the previous year, the payroll fund for 2025 increased by 1,758,500 UAH and amounted to 24,479,300 UAH. Due to the armed aggression of the Russian Federation, there was an exodus of qualified personnel throughout 2025; from November 2024 through May 2025 inclusive, and from October 2025 onward, the enterprise was idle.
As reported, TGZK earned a profit of 78,175,767 thousand UAH in 2020, 44,223,637 thousand UAH in 2021, and 14,659,029 thousand UAH in 2022. The company ended 2023 with a net loss of UAH 794,133 thousand.
TGZK is a company engaged in the extraction, processing, and enrichment of quartzite. It is the main supplier of raw materials for the production of ferroalloys, refractories, and dinas in Ukraine. TGZK operates the Tovkachivska section of the Ovruch quartzite deposit, located in the town of Pershotravneve, using open-pit mining methods.
According to the National Securities and Stock Market Commission’s data for the first quarter of 2026, Navaro Development Limited owns 5.1898% of the company’s shares, Lucrino Investments Limited – 9%, Mantara Holdings Limited – 72.0629%, and Duxton Holdings Limited (all based in Cyprus) – 12.1891%.
According to the report, the ultimate beneficial owners (controllers) of the company are Ihor Kolomoyskyi and Hennadiy Boholyubov, against whom sanctions have been imposed.
The company’s authorized capital is UAH 1.588 million, and the par value of a share is UAH 2.25.
