Business news from Ukraine

Business news from Ukraine

“Foxtrot” has expanded its network to 124 stores and increased e-commerce

In 2022-24, omnichannel retailer Foxtrot expanded its network from 90 to 124 stores, the company’s press service reports.

“Since February 24, 2022, the company has chosen a development strategy: to continue working, support the economy, organize the processes inherent in peacetime, taking into account the security component of wartime, and help the defenders of Ukraine. The events of the last three years have only strengthened the company, made us more flexible, adaptive to daily challenges and accelerated the process of implementing changes and innovations as much as possible,” said Oleksiy Zozulya, CEO of the retailer.

“Foxtrot continued to expand and renovate its existing stores (including after enemy missile attacks), paying attention to barrier-free and inclusive environment. Thus, while the company operated 90 stores in March 2022, as of the beginning of 2025, the chain has 124 retail outlets in 66 cities, including Kherson, Sloviansk and Kramatorsk. The company was the first in the electronics market to launch a sign language service for deaf people, which operates in 30 stores on Foxtrot.ua and continues to scale. In addition, as part of the development of barrier-free accessibility, the company has started adapting the retail space in its stores.

The company has paid almost UAH 1.9 billion in taxes since the beginning of the full-scale war, including almost UAH 1 billion in 2024. Considerable attention is paid to e-commerce, with the turnover of the Foxtrot.ua online store growing by 42% last year.

The retailer’s most significant social initiative is systematic direct assistance to the Ukrainian Defense Forces. Currently, the total amount of equipment donated by Foxtrot to the defenders is over UAH 43.5 million, which includes 8882 units of equipment. As part of the campaign, Foxtrot together with the Aerorazvidka NGO raised almost UAH 700 thousand to train the military in IT tools. To support children affected by Russian aggression, the Give a Piece of Goodness campaign continues. As part of the project “Eat to Support Indestructible Animals”, we purchased UAH 2 million worth of food, medicines, and kennels for residents of 63 shelters.

“Foxtrot is one of the largest omnichannel retail chains in Ukraine in terms of the number of stores and sales of electronics and household appliances. The company operates 124 stores in 66 cities, including the frontline cities of Kherson, Kramatorsk and Sloviansk, an online platform Foxtrot.ua and a mobile application of the same name.

According to Opendatabot, the net income of FTD-Retail LLC (Kyiv), which develops the chain, amounted to UAH 9.9 billion in 9M2024, with a net loss of UAH 110 million.

The Foxtrot brand is developed by the Foxtrot group of companies. The co-founders are Valery Makovetsky and Gennady Vykhodtsev.

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“Metinvest” to invest UAH 8.2 bln in production in 2025

Metinvest Mining and Metallurgical Group plans to invest almost UAH 5.7 billion in 2025 to develop its Kryvyi Rih mining and processing plants and UAH 2.5 billion in production at Kametstal (Kamianske, Dnipro region), despite the difficulties of wartime.

According to Yuriy Ryzhenkov, Metinvest’s CEO, this is a record amount in recent years, and a significant portion of it will be used to maintain the efficiency of key equipment and technological processes to ensure stable production.

The group’s press release states that its plants in Mariupol and Avdiivka were damaged by enemy shelling and the cities were occupied. Metinvest has also recently suspended operations at Pokrovske Coal Group due to the changing situation on the frontline, electricity shortages and the deteriorating security situation.

The rest of the Group’s assets in Kryvyi Rih, Zaporizhzhia and Kamianske continue to operate at varying levels of utilization, taking into account security, energy, logistics and economic factors. The priority is to take care of employees, and all of the group’s enterprises in Ukraine have bomb shelters.

The CEO added that over the three years of the full-scale invasion, the group has allocated UAH 8.4 billion to help Ukraine and its citizens, including UAH 4.4 billion for the needs of the army as part of the Rinat Akhmetov Steel Front military initiative.

“From the first day of the full-scale invasion and three years later, we continue to fight for Ukraine. Despite the challenges of wartime, Metinvest has managed not only to survive but also to maintain its status as an export leader, a pillar of the state, and one of the largest donors to the Armed Forces. All of this is thanks to the contribution of every Metinvest employee in Ukraine and abroad. We are united by a common goal – to bring victory closer by all means available. And after that, to become the foundation for post-war reconstruction,” Ryzhenkov said, as quoted by the press service.

It is emphasized that paying taxes is an important contribution to supporting the economy of Ukraine and the frontline regions. As of the end of 2024, Metinvest is the largest taxpayer in the mining and metals industry.

In addition, the Group has set up production for the army, is engaged in mine clearance, has launched mine trawls and allocated resources to purchase equipment, ammunition and machinery for the frontline.

“Metinvest is a vertically integrated group of steel and mining companies. The group’s enterprises are located mainly in Donetsk, Luhansk, Zaporizhzhia and Dnipropetrovs’k regions. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.

Metinvest Holding LLC is the management company of Metinvest Group.

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EVA expands e-commerce logistics capacities after acquiring warehouse in Brovary

The Ukrainian drogerie chain EVA (Rush LLC) plans to expand its e-commerce logistics capacities after acquiring a warehouse in Brovary from Dragon Capital, the chain’s press service reports.

According to the report, the acquisition of the facility of the subsidiary SC Omega-1 Logistic in Brovary is due to the rapid expansion of e-commerce, which means an increase in the range and number of orders in the EVA.UA online store.

“Starting from the third quarter of this year, we plan to start re-equipping the facility acquired from Dragon Capital. In 2026, we plan to move our warehouse there, which will serve the EVA retail network in the central regions of Ukraine,” Olha Shevchenko, Executive Director of Rush LLC, said in a statement.

According to her, EVA’s own distribution center in Kyiv region with a total area of 43 thousand square meters is divided into a warehouse for the retail network (22 thousand square meters) and e-commerce (21 thousand square meters). After the re-equipment of the acquired warehouse with the area of 19.1 thousand square meters, the company plans to fully dedicate its distribution center to e-commerce.

The acquisition of the asset near the existing warehouse will also allow the company to keep its team in Brovary, Shevchenko said.

As reported, the Antimonopoly Committee of Ukraine granted permission to Rush LLC to acquire SC Omega-1 Logistic in January 2024. The sale was completed in February.

Rush LLC, which manages the EVA network, was founded in 2002. At the end of 2024, the chain had about 1080 operating stores.

According to Opendatabot, the owner of Rush LLC is Cyprus-based Incetera Holdings Limited (100%), with Ruslan Shostak and Valeriy Kiptyk as the ultimate beneficiaries.

According to the results of three quarters of 2024, Rush’s revenue amounted to UAH 19.2 billion and net profit amounted to UAH 1.2 billion. In 2023, the company’s revenue increased by 33.7% to UAH 21 billion compared to 2022, while net profit increased by 26% to UAH 2.2 billion.

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Ursula von der Leyen: EU has already supported Ukraine with EUR145 bln, additional EUR3.5 bln to be disbursed in March

President of the European Commission Ursula von der Leyen says that the European Union and its member states have provided EUR 145 billion in assistance to Ukraine.

“The European Union and its member states have supported Ukraine with 145 billion euros. This is more than anyone else has helped,” von der Leyen said during the Support Ukraine plenary session in Kyiv on Monday.

According to her, the EU has helped Ukraine cover the country’s budget deficit for the entire year 2025.

“In parallel, we must immediately provide weapons and armaments. And this will be at the center of our work over the next few weeks,” the European Commission President emphasized.

She also emphasized that Europe will strengthen Ukraine “at this critical moment”.

“I can announce that a new payment of 3.5 billion euros to Ukraine will be received in March,” von der Leyen said.

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Ursula von der Leyen announced integration of energy markets of Ukraine and Moldova into European market by end of 2026

President of the European Commission Ursula von der Leyen announced the integration of the energy markets of Ukraine and Moldova into the European market by the end of next year.

“The European Commission has prepared an ambitious energy security package. The goal is to guarantee a sustainable, secure and competitive energy system for Ukraine,” she said on Monday in Kyiv, speaking at the Support Ukraine plenary session.

According to von der Leyen, during this winter, Europe provided Ukraine with 1.8 GW of electricity. “But now we will fully integrate the Ukrainian and Moldovan electricity markets into our European one by the end of next year. And we will use a potential volume of 80% of all gas reserves, which will help create profitability. All this will increase the energy security of both the European Union and Ukraine,” the President of the European Commission said.

“Proviant” acquires bankrupt Gadyachsyr cheese plant for UAH 44 mln

Chernihiv-based Proviant Group of Companies, headed and owned by Valentyn Zaporoshchuk (Ichnia and MamaMilla brands), purchased the bankrupt Gadyachsyr cheese factory (Poltava region) at a second auction on Prozoro.Sale on February 17.

According to the trading platform, the price of the cheese plant was UAH 99.2 million at the first auction in September 2024. At the second auction, which was held on the principle of a Dutch auction (downward bidding – IF-U), Gadchsyr was sold for UAH 44.03 million, which is 40% cheaper than the starting price. Full payment is expected within 10 business days, i.e. by March 4, 2025.

The new owner will receive a complex of industrial buildings and auxiliary facilities of the Gadyachsyr plant, two land plots of 4 hectares and 0.7 hectares, as well as almost 900 inventory items of various equipment.

“Gadyachsyr was declared bankrupt in 2023. The company was part of Ruslan Badayev’s Almira holding. The state register lists Oleg Balyuk as the ultimate beneficiary.

As reported, according to the decision of the Shevchenkivskyi District Court of Kyiv of May 14, 2018, published in the Unified State Register of Court Decisions, Ukreximbank officials issued loans to Agroprodeexport and Tekhmolprom secured by illiquid property of the state bank in order to. According to the investigation, the total debt of Agroprodeexport and Tekhmolprom, as well as the company International Seafood Group LLC, on these loans amounted to UAH 2.1 billion.

“Tekhmolprom was founded in 2007. The company’s core business is milk processing, butter and cheese production. Agroprodexport was founded in 2007 and is primarily engaged in wholesale trade of dairy products, eggs, edible oils and fats. RVD-Agro LLC was founded in 2003. The company specializes in growing cereals (except rice), pulses and oilseeds.

The ultimate beneficial owner of Agroprodexport, RVD-Agro LLC and Tekhmolprom LLC is Oleh Balyuk. He is also the ultimate beneficiary of Gadyachsyr, which is listed as a legal entity associated with the three borrowing companies.

Proviant LLC was founded in 2003 in Chernihiv. It specializes in milk processing, butter and cheese production, wholesale of dairy products, eggs, edible oils and fats.

According to Opendatabot, in 2023, the company’s revenue amounted to UAH 74.683 million, net profit – UAH 8.3 million, and debt obligations – UAH 675.95 million. The assets are estimated at UAH 122.32 million.

Zaporoshchuk acquired Proviant LLC in October 2021 from Oleksandr Ivanov.

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