TAS Dniprovagonmash LLC (DVM, Kamyanske, Dnipropetrovsk Oblast), controlled by the “TAS” financial and industrial group owned by businessman Serhiy Tihipko, ended the January–June 2026 period with a loss of 87.2 million UAH, which is 2.2 times higher than the corresponding figure for the first half of 2025.
According to the company’s published interim financial statements, its net revenue decreased by 44.3% to 312.7 million UAH.
The company reported a gross loss of 5.7 million UAH, whereas a year ago it had recorded a gross profit of 48.3 million UAH; the loss from operating activities doubled to 68.4 million UAH.
According to the financial statements, in the second quarter of this year, “TAS DVM” incurred a loss of 47.6 million UAH, which was more than double the loss recorded in April–June 2025, amid a 13% decline in net revenue to 240 million UAH.
As previously reported, in the first quarter of this year, the plant saw its net revenue drop by nearly four times compared to the same period in 2025—to 72.73 million UAH, while its loss increased 2.4-fold, to 39.67 million UAH.
According to the company, in the second quarter of this year, it produced 76 freight cars, compared to 202 units during the same period last year (38 units and 181 units in the first quarter, respectively), and the average selling price of the cars was 2.348 million UAH (2.78 million UAH last year).
The main customers in Ukraine were Alfa-Capital Bozhkivsky Elevator LLC, Oval LLC, Ukrsilko, and TAS Poltavvagon.
The total value of exports amounted to 4.4 million UAH (1.8% of sales volume), while in April–June 2025 it reached 222.8 million UAH (80.8%) due to a large contract to supply railcars to the Lithuanian company LTG Cargo.
“In the second quarter of 2026, the freight base for rail logistics in Ukraine showed a downward trend, which in turn continued to dampen demand for newly built freight railcars,” the report notes.
In addition, among the factors hindering railcar production in Ukraine are massive rocket attacks, which have significantly impacted the energy sector, transportation, and port infrastructure, as well as an increase in rolling stock turnaround time due to a shortage of traction rolling stock at Ukrzaliznytsia resulting from significant wear and tear.
The plant notes in its report that the value of contracts signed but not yet fulfilled as of the end of the reporting period amounts to 427.2 million UAH (excluding VAT), and the expected profit from their fulfillment is 19.2 million UAH.
As of early July of this year, the company employed 544 people (748 people last year).
“TAS Dniprovagonmash,” which has the capacity to produce 9,000 railcars per year, reportedly offers the widest range of freight railcars among domestic manufacturers (more than 160 models) and also produces steel structures, railcar bogies, spare parts, and equipment for the agricultural sector.
As previously reported, in 2025, the company reduced its production of freight cars by 8.6% compared to 2024—to 550 units—and sales by 8.2%, to 556 units. The company incurred a loss of 151.4 million UAH, whereas in 2024, net profit amounted to 62.2 million UAH, and net revenue decreased by 12% to 1.54 billion UAH.
LOSS, PRODUCTION, railcar, REVENUE, TAS
