JYSK Ukraine plans to open 10 new stores and reopen 12 stores in the modern Store Concept 3.0 and Compact formats in the new financial year, which starts on September 1.
According to the company’s press service, five new JYSK stores are planned to open by the end of the calendar year: in the A1 shopping center in Odesa, the OBRIY retail park (Tatariv) and Peretyn (Melechiv in the Lviv region), in the Bukowyna Mall (Chernivtsi) and the Lavky Park shopping center (Mukachevo).
The company emphasized that in terms of network size, JYSK in Ukraine plans to surpass JYSK’s home country of Denmark in the 2026 financial year. Another important event will be the celebration of JYSK’s 1,000th employee in Ukraine. These steps are part of the global Customers’ First Choice strategy, which will be launched this year in all countries where the company operates. Its goal is to make JYSK the first choice for both customers and employees.
“This year will be special for us. We are growing as a team and as a chain, while remaining true to our values of strong teams and dedicated work. It is thanks to our people that we continue to develop, and we believe that JYSK will become the first choice for both customers and employees,” comments Yevgen Ivanitsa, CEO of JYSK in Ukraine.
Since the beginning of the full-scale war, JYSK has supported the Ukrainian network. This time, on the occasion of Independence Day and the new financial year, representatives of top management from Denmark visited Ukraine — JYSK CEO Rami Jensen and Executive Vice President of Retail Micael Nielsen. In particular, they visited the JYSK store in Chernivtsi, which last year became the chain’s 100th store in Ukraine.
“We are impressed by the resilience of our Ukrainian colleagues during the war. I hope that our visit was a sign of our commitment and support for them,” says JYSK President and CEO Rami Jensen.
Today, there are 109 JYSK stores in 37 cities in Ukraine, as well as the online store jysk.ua. The company employs over 800 people in Ukraine.
JYSK is part of the family-owned Lars Larsen Group, which has more than 3,500 stores in 50 countries.
JYSK’s revenue in the 2023/24 financial year was EUR5.6 billion.
The UKRNAFTA chain of gas stations continues to develop multi-channel customer services and increase its performance.
“Currently, the state-owned network is among the top three networks in Ukraine in terms of sales,” said Yuriy Tkachuk, acting chairman of the board of JSC Ukrnafta. “Modernization is ongoing: modern mini-markets are opening, the product range is expanding, and equipment is being updated. I would like to thank the UKRNAFTA team for their steady development, which provides the best modern experience for our customers.”
Non-fuel sales in the first half of 2025 increased by almost 75% compared to the same period in 2024. By product group: hot and cold drinks +100%, hot dogs +50%, UKRNAFTA own brand washer fluid +80%, original AdBlue +35%.
More than 8,300 customers already use UKRNAFTA cards and vouchers. In total, since 2023, when the company’s own B2B program was launched, 170,000 cards have been issued, which can be used at 1,503 gas stations, both our own and those of our partners.
Developed and launched at the end of 2023, the UKRNAFTA app now has 1.5 million active users and is at the top of PlayMarket and AppStore. Every day, 3-4 thousand people install it.
Ukrnafta is Ukraine’s largest oil production company and operates a national network of gas stations. In March 2024, the company took over the management of Glusco’s assets and now operates a total of 545 gas stations — 461 of its own and 84 under management.
The company is implementing a comprehensive program to restore operations and upgrade the format of its network of gas stations. Since February 2023, it has been issuing its own fuel vouchers and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of Ukrnafta is Naftogaz of Ukraine with a 50%+1 share.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the corporate rights of the company that belonged to private owners, which is now managed by the Ministry of Defense.
The valuation of Kyivstar Group Ltd., which owns Ukraine’s largest mobile operator Kyivstar, has grown by approximately 20%, or $600-700 million, since the conclusion of the agreement with SPAC company Cohen Circle and the listing on the stock exchange, and the company has the potential to increase it, according to Alexander Komarov, president of Kyivstar Group and Kyivstar.
“I am deeply convinced that this is a significant underestimation of our business. There are two major factors. The first is the valuation of the company in a country at war, and the war will end. The second is that we are now seen more as a telecom operator, while Kyivstar is a digital services operator with a telecom license,” Komarov told reporters on August 29, when Nasdaq held an official trading opening ceremony together with Kyivstar and representatives of the Ukrainian government.
According to him, in the second quarter of 2025, the share of revenue from digital services in Uklon, Helsi, big data, cloud services, and Kyivstar TV already exceeded 10% of the company’s total revenue.
“Any business that we develop in the digital environment grows by at least 50% year-on-year. And some grow by 100+, 200% year-on-year,” said the company’s president.
He specified that Kyivstar’s current capitalization is about $2.8 billion, while the capitalization of its parent company VEON is about $4.2 billion.
As reported, on August 15, Kyivstar Group Ltd., after completing all the necessary procedures with SPAC company Cohen Circle, announced the start of trading on Nasdaq.
“It seems to me that these two weeks, during which Kyivstar has already been part of the international market, have shown that even during the war it is possible to develop, it is possible to create new services, it is possible to create value for all stakeholders, for customers, for shareholders, and thus increase the capitalization of companies,” Komarov emphasized.
He also cited two independent estimates: according to the first, the price per share will reach $14 in 12 months, and according to the second, $19.8, while at the end of the day on Friday, August 29, it was $12.43.
According to him, Kyivstar’s multiplier (revenue/EBITDA) is about 4, which corresponds to the lower level of valuation of Eastern European operators.
“Therefore, I believe that, given the current situation and the deals that have been made in Ukraine over the past few years in the telecom sector, the current situation looks quite optimistic,” Komarov concluded.
He also announced that the company has created a new expanded supervisory board of 10 members headed by VEON CEO Kaan Terzioglu.
Regarding the Kyivstar office in Dubai, which was opened in connection with the company’s IPO, the president specified that it will employ about 10 people who will deal with legal issues, among other things.
When asked by journalists how dividends would be paid to investors, Komarov reminded them that their payment for 2023-2024 is limited by the National Bank of Ukraine to EUR1 million per month, so Kyivstar will decide whether to pay or not after the relevant restrictions are lifted.
Komarov said that the company currently has approximately $400 million in its account, and this money is being used for investment.
“I will use last year’s figure, but I can say that this year’s figure will be significantly higher. We invested (in 2024) approximately 26% of our income, which is more than $200 million.”
According to Nasdaq data, on the first day of trading under the KYIV ticker, the share price fell by 7.4% to $11.52, corresponding to a capitalization of $2.437 billion.
The share of the parent company VEON in Kyivstar after the merger with SPAC decreased from 100% to 89.6%, while the deal provided $178 million in revenue, including investments from institutional partners Helikon and Clearline.
Kyivstar serves nearly 23 million mobile subscribers and over 1.1 million home internet subscribers. Its digital services portfolio includes the Helsi medical platform, the Kyivstar TV movie and television platform, and the leading ride-hailing and delivery company Uklon. Kyivstar is also a provider of solutions for corporate clients, offering cloud technology, cyber security, and artificial intelligence services. Through its Kyivstar.Tech division, the company is developing software development in Ukraine and is a partner for international technology companies such as Starlink.
Kyivstar increased its EBITDA by 32% to $06 million in the first half of 2025, while its revenue grew by 28% to $539 million.
62.2% of Ukrainians believe that there is a severe labor shortage in the country. 25.4% of respondents believe that there is a shortage, but it is not serious. 6.3% do not believe that there is a problem. Another 6.1% were undecided.
These are the results of a sociological study conducted by the research company Active Group on August 16, 2025, using the SunFlower Sociology online panel.
The average salary of full-time employees in July 2025 was UAH 26,499, according to the State Statistics Service (SSS).
According to the statistics agency, the highest average salary last month was recorded in Kyiv – UAH 40,546, and the lowest in the Chernivtsi region – UAH 19,202.
The average salary in July 2025 in the field of information and telecommunications was UAH 67,222, in finance and insurance – UAH 55,994, in professional, scientific, and technical activities – UAH 34,068, in public administration and defense – UAH 33,896, in wholesale and retail trade – UAH 31,424, in industry – UAH 29,063, in transport, postal and courier services – UAH 26,612, in real estate operations – UAH 22,6987, and in construction – UAH 22,775.
The average number of full-time employees in Ukraine in July 2025 was 5.368 million people.
The wage fund for all employees in July 2025 amounted to UAH 150.361 billion, and for full-time employees – UAH 142.233 billion.
The State Statistics Service reminds that the data does not include territories temporarily occupied by the Russian Federation and parts of territories where hostilities are (were) ongoing.
Agroholding Astarta, Ukraine’s largest sugar producer, processed 123,000 tons of soybeans in January-June 2025, which is in line with last year’s figure, according to the agricultural holding’s report published on the Warsaw Stock Exchange on Friday.
According to the published data, the segment’s revenue in the first half of 2025 decreased by 6% year-on-year to EUR 55 million, with exports accounting for 91% (+5 p.p. year-on-year) of this revenue.
Gross profit in the soybean processing segment decreased by 41% year-on-year to EUR12 million. Gross profit margin was 21% in the first half of 2025, compared to 33% in the first half of 2024, which Astarta explained by an increase in the cost of sales. EBITDA for the first half of 2025 amounted to EUR7 million (-58% year-on-year), while EBITDA margin decreased from 28% to 13% in the first half of 2025.
According to the agricultural holding, the implementation of the investment project to build a soy protein concentrate production plant is proceeding according to schedule. Production is scheduled to start in 2026.
Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine and is the largest sugar producer in Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Hlobyn (Poltava region), seven elevators, and a biogas complex.
In 2024, Astarta increased its net profit by 34.5% to EUR83.25 million, while its consolidated revenue decreased by 1.1% to EUR612.15 million.
In the first quarter of this year, the agricultural holding’s revenue fell by 24.9% to EUR124.58 million, while net profit fell by 28.8% to EUR6.42 million.
On June 12 this year, the shareholders’ meeting approved the payment of dividends for 2024 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the figures for the previous two years.
