Agricultural and special-purpose machinery manufacturer JSC “Fregat Plant” (Pervomaisk, Mykolaiv Oblast) saw its losses increase by 77.6% in January–September of this year compared to the same period in 2025, reaching 89.3 million UAH.
According to the company’s financial report, published in the National Securities and Stock Market Commission’s (NSSMC) disclosure system, net sales revenue decreased by 46.8% to 18.7 million UAH.
During this period, the company reported UAH 5.8 million in gross profit (compared to UAH 10.5 million a year ago), while its operating loss increased by 21.2% to UAH 40.4 million.
The accumulated loss as of September 30 stood at UAH 435.9 million.
According to the company’s financial report, in the first half of the year, it increased its loss by 77.3% to 69.4 million UAH, against a 17.4% decline in net revenue to 15.4 million UAH.
Consequently, in the third quarter, the plant sold products worth only 3.4 million UAH—nearly five times less than during the same period last year—while its loss rose by 78.6% to 19.9 million UAH.
“Fregat” notes that the martial law in Ukraine, imposed in connection with Russia’s military aggression against Ukraine, is leading to unstable operations and a reduction in production; the company continues its manufacturing activities, but not all production facilities are operational, and as a result, not the entire range of finished products is being manufactured.
The plant manufactures machinery and equipment for agricultural and forestry engineering, boilers and radiators, as well as specialized machinery. In the third quarter, production of agricultural machinery for crop farming accounted for 12% of total commercial output (89.6% in the first quarter and 22.5% in the second), while other products accounted for 88%.
As of early October, 103 people were employed at the plant. Another 7 people worked at a separate division—the plant’s Dnipro branch—and 73 at the Eastern branch.
As previously reported, in 2025 the plant’s losses increased by 34.4% compared to 2024—reaching 81.2 million UAH—as net income fell nearly fourfold to 47.57 million UAH.
The average number of employees at the plant last year was 121; at the Eastern Branch, 84; and at the Dnipro Branch, 6.
