Business news from Ukraine

Business news from Ukraine

Foxtrot recorded 2.6-fold increase in turnover during Black Friday

Omnichannel electronics and home appliances retailer Foxtrot recorded a 2.6-fold increase in total turnover and a 215% increase in online sales compared to the previous week during Black Friday (November 24 to December 1), according to the retailer’s press service.

Traffic on Foxtrot.ua during this period also increased 2.6 times (week-on-week) and 1.5 times year-on-year; the average check was UAH 9,348 (+134%). The longest check had 43 items, and the most expensive purchase was UAH 630,000 (Samsung QE115QN90FUXUA TV).

“We saw how many buyers were preparing for Black Friday in advance, planning their spending and waiting for discounts. Therefore, we focused on what is really important: to fully meet these expectations by offering the best prices of the year, a wide range of promotional items, free delivery, affordable loans, and high-quality service even in difficult times. And it was this approach that allowed us to achieve decent results in this “sprint,” commented Yuriy Polishchuk, CEO of the Foxtrot chain, whose words are quoted in a press release.

The retailer noted that buyer behavior differed depending on the region. Western regions saw a noticeable uptick starting on Monday, with sales tripling, while shoppers in the center and east became more active in the second half of the week. The highest demand across the country was on Sunday, when the chain recorded its highest sales growth.

The number of active users of the Foxtrot mobile app increased by 176% compared to last year. The top five cities in terms of the number of online orders remain unchanged: Kyiv, Lviv, Dnipro, Odesa, and Kharkiv.

In terms of product categories, smartphones took first place in terms of sales: their sales more than doubled, with premium brands, such as Samsung and Apple, being the most popular.

Televisions, a category that had been declining for several years due to power outages, grew fivefold in turnover and fourfold in the number of units sold compared to a normal week. Large 100-115-inch OLED/QLED/miniLED models were particularly in demand.

Game consoles became another “star” of Black Friday. In three days, Foxtrot customers bought as many PS consoles as they did in half a month last year, or 2.2 times more than in a typical week. Laptops showed the expected growth (threefold), as did vacuum cleaners and built-in appliances, slightly ahead of multi-ovens (fourfold growth) and coffee machines and kitchen combos (3.5 times), while refrigerators and washing machines only doubled.

The trend of the season is “home sets.” Customers bought several items at once: from chargers and headphones to large appliances in a single transaction. Increased demand for charging stations, generators, and power banks has continued for the second month in a row—for this category, Black Friday actually started on October 10.

Accessories and tableware are usually the drivers of sales in quantitative terms on Black Friday, so here the retailer saw its traditional growth – almost threefold. Frying pans and saucepan sets were the most popular purchases.

More than 65% of all purchases were made through the seller’s mobile app. Another indicator of behavioral change is the payment structure: 54% of all sales were cashless. At the same time, almost half of these transactions (47%) were accepted by sellers directly in the sales area: through Tap to Phone, which was scaled across the entire network just before Black Friday (14%), personal POS terminals (32%), and digital payment methods such as LiqPay (2%).

The availability of extended credit programs (up to 24 months) also had a significant impact on demand dynamics: the share of credit purchases rose to 40% of all sales, which is 10% higher than usual.

The release notes that the main technological breakthrough of the year occurred in communications: AI consultants took over some of the routine inquiries. As a result, the share of chat dialogues successfully closed with the help of artificial intelligence increased more than 6 times (+622%) compared to the same period last year, or 28% of all inquiries. In addition, the Foxtrot contact center worked not only as support, but also as a powerful sales channel. The number of orders placed by operators increased by 54%.

Foxtrot is one of Ukraine’s largest omnichannel retail chains in terms of the number of stores and sales of electronics and household appliances. As of November 2025, the company operates 127 stores in 67 cities, the Foxtrot.ua online platform, and the mobile app of the same name. During 2025, the chain added four new stores: in Chabaniv and Brovary in the Kyiv region, in Odesa and Kryvyi Rih, and modernized five retail outlets.

According to Opendatabot, the revenue of FTD-Retail LLC (Kyiv), which develops the chain, amounted to UAH 14 billion 882.632 million at the end of 2024, which is 17.6% more than in 2023, and its net profit was UAH 6 million 721 thousand against UAH 314 million 436 thousand, respectively.

In the first half of 2025, the company received UAH 7.3 billion in revenue and UAH 66.5 million in net losses.

The founders of the omnichannel retailer Foxtrot are Ukrainian businessmen Gennady Vykhodtsev and Valery Makovetsky.

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Prices for pigs will fall to 70 hryvnia per kilogram

Purchase prices for live pigs next week (December 8-14, 2025) will decrease and amount to 70-71 hryvnia/kg (-5.4%) compared to 74-75 hryvnia/kg this week, according to the Meat Industry Association.

Experts noted that the decline in purchase prices for pork is occurring against the backdrop of growing epizootic pressure in both Ukraine and Europe.

The first outbreak of ASF in Spain in 30 years and the blocking of some of its export certificates have shown that ASF is no longer a local problem but has become a continental threat capable of influencing market expectations and regulatory decisions throughout Europe, the industry association stressed.

“For Ukraine, the main driver of price pressure remains the internal situation — an increase in the number of outbreaks and forced sales of livestock, which creates excess supply,” the association explained.

It cited data on European countries and noted that on the German VEZG exchange, experts forecast prices for half-carcasses of standard pigs at EUR1.60 per kg (78.75 UAH/kg excluding VAT) for the coming week, and EUR 0.80 per kg (UAH 39.38/kg excluding VAT) for half-carcasses of sows. On the Polish exchange CennikRolnicze, the average price for live pigs is PLN 4.61/kg (UAH 53.48/kg). The price range for live pigs is PLN 4.00-5.50/kg (UAH 46.4-63.8/kg).

“Pork from Ukraine could take its place in the global market and stimulate the development of the meat industry and pig farming in Ukraine,” the industry association concluded.

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According to survey, almost half of Ukrainians have reduced spending

Consumer priorities of Ukrainians have changed, since the beginning of the full-scale war, 47% of respondents have reduced spending on the main categories of consumption, according to the press service of Gradus.
At the same time, 85% noted that they try to maintain a mental balance, allowing themselves occasions for joy and pleasure. This trend is most pronounced in the 25-34 age group, while people 45-55 and 55+ years old are more inclined to save money.
Regarding methods of reducing spending, 82% avoid unnecessary things but do not deny themselves things that bring pleasure, 77% try to buy fewer things but better quality, 76% invest in health, 59% are willing to spend on things that improve emotional well-being and 52% direct funds to development and experience (study, travel).
Ukrainians consider health and medical services to be the most important item of expenditure that should not be saved on (70%).
As for expectations from fashion & beauty-brands – Ukrainians now put quality and durability of things in the first place (39%), and prestige – in the last place (11%).
As for luxury goods, the opinions of respondents are divided. Restraint in buying such things was reported by 32% of respondents. The answer options “it is an excess, which is out of time now” and “are not interested in luxury goods at all” were chosen by 22% and 18% respectively. At the same time, 19% of respondents called luxury goods “a component of normal life, which allows you not to lose yourself”.
In general, women are less inclined to reduce spending on most categories. The reluctance to save money on things that are important to themselves was reported by 61% of women and 47% of men, while goods that improve emotional well-being continue to be purchased by 70% of women and 50% of men.
The research “Consumer pragmatism: how the war has changed our consumption” was conducted by research company Gradus in partnership with Vogue Ukraine specially for the Forces Of Fashion 2025 conference, by self-completion of the questionnaire in the Gradus mobile application. Target audience: men and women aged 18-60 with an above average income, living in Ukrainian cities with a population of more than 50 thousand people, excluding temporarily occupied territories and zones of active hostilities. The field stage lasted from August 25-27, 2025. Sample size: 600 respondents.

 

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Steel consumption in Ukraine increased by 11%

According to the results of 2024, Ukraine increased its apparent steel use in crude steel equivalent by 10.9% compared to 2023, from 3.987 million tons to 4.423 million tons.

According to the annual compilation published by Worldsteel, Ukraine increased its apparent steel consumption in finished product equivalent by 5.6% compared to 2023, to 3.633 million tons from 3.439 million tons.

At the same time, Ukraine produced 7.575 million tons of steel in 2024 (6.228 million tons in 2023), and last year’s pig iron production amounted to 7.090 million tons (6.003 million tons), of which 1.235 million tons (1.248 million tons) were exported.

At the same time, steel consumption per capita reached 117 kg (106 kg/person in 2023).

On average, global apparent steel consumption (in crude steel equivalent) per capita last year was 228 kg (in 2023 – 234 kg/capita), and finished products – 96 (91) (kg/capita). At the same time, the world consumed 1 billion 750.004 million tons of steel in 2024 and 1 billion 777.949 million tons in 2023.

Last year, Ukraine mined 50.584 million tons of iron ore (in 2023 – 27.048 million tons) and exported 35.695 million tons (17.749 million tons). Scrap metal exports amounted to 288,000 tons (182,000 tons).

In 2024, Ukraine exported 511,000 tons of pipe products, in 2023 – 356,000 tons, and imported 105,000 tons (111,000 tons).

For more information on the largest steel producers and global industry trends, see the Experts Club video analysis review available on YouTube: Experts Club — Leaders of the global steel industry 1990–2024

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Kametstal has modernized its continuous casting machine

The Kametstal plant, part of the Metinvest mining and metallurgical group (Kamensk, Dnipropetrovsk region), has completed the reconstruction of continuous casting machine No. 1 in the converter shop as part of its 2025 investment program.

According to the company, following the successful completion of the second stage of the investment project, key equipment of the machine’s pulling and straightening devices has been upgraded.

It is specified that new motor reducers for the pulling and straightening device were installed on each of the seven streams of the CCMC-1, on which thermal shielding was also performed.

“In this way, steelmakers have solved the urgent issue of extending the service life of motor reducers, which ensure the stable movement of the pulling and straightening devices. Previously, this equipment failed prematurely due to the destructive effects of high temperatures,” the report states.

Encoders were also installed and put into operation on all upper motors of the gear motors. These devices, thanks to feedback in control, make it possible to control and stabilize the speed of the continuously cast billet and, thus, increase the accuracy of its cutting.

The second stage of the reconstruction of the No. 1 continuous casting machine was carried out without additional machine stoppages, given the need to fulfill orders for commercial steel products, particularly those of higher quality, for domestic and European customers. Each stream was technically prepared in advance for the replacement of equipment, and during the technological stoppage, updates were carried out in pit stop mode.

As a result of the second stage of reconstruction, metallurgists received a number of technical and economic advantages: several times longer service life of the motor reducers of the stoves; maximum precision of cutting the billets, which made it possible to reduce metal consumption. In addition, the technical solutions implemented optimized the operation of the pulling and straightening device to reduce electricity consumption on the upper and lower motor reducers by 1.2 kW*hour while maintaining stable casting on the machine.

Kametstal is part of the Metinvest Group.

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Indemnities of IC “BBS Insurance” for nine months have grown by 77,8%

IC “BBS Insurance” (former IC ‘Brokbusiness’, Kiev) has collected UAH 660,03 m of gross premiums in January-September 2025, that is by 64,70% more than in the same period of 2024, RA “Expert Rating” informed in the information on confirmation of IC financial strength rating at the level “uaAA” according to the national scale.
According to RA data, the share of insurance premiums owned by reinsurers has grown by 44,6%, and their share in the structure of gross premiums of the company has decreased by 0,23 p.p. and has amounted to 1,63%.
In the first nine months of 2025, the company made 77.75% more insurance payments and indemnities than in the first nine months of 2024, and the level of payments increased by 2.62 p.p. to 35.67%. – up to 35,67%.
During the reporting period shareholders’ equity of IC “BBS Insurance” has grown by 21,21% – up to UAH 196,84 mln, and its gross liabilities have increased by 61,05% and have amounted to UAH 388,29 mln. As a result of high rates of liabilities growth there has been a decrease in the level of shareholders’ equity coverage of insurer liabilities in the analyzed period: by 16,67 p.p. to 50,69%. – to 50,69%.
The volume of cash and cash equivalents has grown by 58,62% and has amounted to UAH 382,28 mln, and the ratio between cash and liabilities of the insurer has decreased by 1,51 p.p. to 98,45%. – to 98,45%. Thus, as of the beginning of Q4 2025, highly liquid assets have covered company liabilities by 98,45%.
RA also notes that in the analyzed period the activity of the company was profitable, so compared to the same period of 2024 the operating profit grew by 38,51% and amounted to UAH 49,05 mln, and net profit increased by 27,13% to UAH 47,63 mln.
IC “BBS Insurance” has been working in the Ukrainian insurance market for more than 30 years and is represented in all regions of the country. It has a license for insurance activity in 18 classes.

 

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