JSC “Kramatorsk Heavy Machine Building Plant” (KZVV, Perechin, Zakarpattia region), almost 97.7% of whose shares are owned by former MP Maksym Yefimov (Restoration of Ukraine group), earned almost UAH 1.233 billion in net profit in January-June of this year, four times more than in the first half of 2024.
According to the company’s published financial report, net income for this period increased 3.5 times to UAH 21.446 billion.
According to the company, in the first quarter of this year, it increased its net profit by 2.6 times compared to January-March 2024, to UAH 707.9 million, with net income growing 4.2 times, to UAH 10.796 billion.
Thus, in the second quarter of this year, KZV increased its net profit by 4.8 times compared to April-June 2024, to UAH 524.8 million, with revenue growing almost threefold, to UAH 10 billion 653 million.
As reported, KZVV, which was relocated from Kramatorsk to Perechin in the summer of 2022, manufactures, among other things, wind turbines (WTGs) for Friendly Wind Technology.
KZVV specializes in universal special-purpose machine tools designed for the energy, metallurgical, oil and gas industries, mechanical engineering, and rail transport, as well as machine tools for single and small-batch production. The plant has also mastered the production of towers for WPPs.
Back in 2022, KZVV’s net income was UAH 119.38 million, and its net loss was UAH 134.68 million.
At the beginning of this year, the plant employed almost 2,000 workers, compared to 296 in 2022.
The investment company umgi, part of the SCM Group, is closely studying the Spanish market and sees great opportunities for partnerships and growth there.
“Umgi’s assets have been present in the Spanish market since 2020. We are carefully researching this market and see great opportunities for partnerships and growth,” the company said in a statement.
It is also reported that umgi CEO Andrey Gorokhov will moderate a panel discussion entitled “Best Investment Strategies: Narrow Specialization or Multi-Focus Approach” at Iberia’s Private Equity Conference, which will take place on October 3 in Madrid.
The company noted that this is one of the key events in the industry, where participants will discuss how fundraising in private equity is changing; which sectors are becoming promising for investment; how value is created through strategy and strong teams; and when to choose the right moment for an exit.
As reported, in 2024, umgi focused its efforts on strategic support for its existing portfolio and expanding its international network of contacts and integrating Ukrainian businesses into European markets.
“We see our mission as being an investment bridge between Ukraine and the world, promoting higher ethical and professional standards in the industry, and developing international cooperation. In 2024, we actively worked to expand our international network among entrepreneurs, business consultants, and investors, particularly in Spain, Italy, and Poland,” said umgi CEO Andriy Gorokhov earlier.
umgi is an investment company focused on developing businesses in the raw materials and processing sectors. It was founded in 2006 by the SCM Group. Investment focus: mineral extraction; management of by-products and production waste; production of industrial goods and services. The total value of the portfolio companies is estimated at more than $500 million.
umgi’s investment portfolio covers eight assets in seven countries: Ukraine, Poland, Turkey, Spain, Italy, Romania, and Serbia.
Astarta, Ukraine’s largest sugar producer, intends to continue investing in the construction of its soy protein concentrate plant in 2026. These investments will amount to approximately EUR40 million, said Vyacheslav Chuk, director of commercial operations and strategic marketing at the agricultural holding.
“Our budget process is not yet complete, but the agricultural holding will definitely invest in the completion of our new project to build a soy protein concentrate plant. This is about EUR40 million, and the rest is maintenance, which will vary depending on what we focus on,” he said at the Forbes Agro 2025 conference in Kyiv on Friday.
Responding to a follow-up question about how much Astarta will invest during the year to resolve current issues, Chuk said it could be tens of millions of dollars.
In 2024, Astarta began investing in the construction of a plant for processing soybean meal into soybean protein concentrate with a capacity of 500 tons/day (about 100,000 tons per year) in the Hlobyn industrial complex (Poltava region). The agricultural holding is investing more than EUR 76 million in the purchase of equipment and technologies and will create 110 new jobs.
Astarta and its structural unit Astarta Agro Protein signed the first investment agreement with the Ukrainian government to receive compensation from the state for significant investments. Under the agreement, the state will provide the agricultural holding with a number of incentives, including exemption from import duties on new equipment, import VAT on new equipment, and income tax for up to five years.
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 Hlobine (Poltava region), seven elevators, and a biogas complex.
In the first nine months of 2024, Astarta increased its net profit by 35.1% compared to the same period in 2023, to EUR75.60 million. The agricultural holding’s revenue grew by 12.6% to EUR441.46 million, and EBITDA by 12.8% to $131.56 million.
JSC Dnipro Switch Factory (DnSZ, Dnipro), a major Ukrainian manufacturer of switches for main railway tracks, increased its net profit by 2.2 times in January-June 2025 compared to the same period in 2024, to UAH 249.16 million.
According to the financial results report on the company’s website, net sales revenue for this period increased by 24.2% to UAH 796.7 million.
DnSZ received UAH 299.7 million in profit from operating activities (2.2 times more), and gross profit amounted to UAH 299 million (+61.2%).
As reported, in the first quarter of this year, the plant increased its net profit by 2.1 times compared to the same period in 2024, to UAH 113.2 million, with revenue growing by 21.7% to UAH 415.4 million.
Thus, in the second quarter of 2025, DnSZ increased its net profit by more than 2.2 times compared to April-June 2024 – to almost UAH 136 million, while net income increased by 27.1% – to UAH 381.3 million.
Founded in 1916, Dnipro Railway Switch Factory currently manufactures various types of switches for mainline and industrial transport, subways, as well as elements of the upper track structure.
The enterprise has a full production cycle, including its own design bureau.
The plant ended 2024 with a consolidated net profit of UAH 540.41 million, which is 6% more than in 2023, of which 78% (UAH 420 million) was allocated to dividend payments. Consolidated revenue increased by 77% to UAH 1.79 billion.
According to the company’s report on its website, unconsolidated net profit increased by 6.7% to UAH 544.22 million, with revenue growing by 31.1% to UAH 2.346 billion.
Exports accounted for 5.6% of sales in 2024, with products shipped to Georgia, Azerbaijan, Moldova, Bulgaria, Germany, and the Baltic states.
The boiler room of Kryvyi Rih Thermal Power Plant, which provides heat to more than 345,000 residents of the northern part of the city, is undergoing major repairs in preparation for the heating season.
“The company’s specialists are replacing the steam superheaters of two steam boilers that have been in operation for 80 years. The installation of convective packages on water boilers is also underway, which will allow the necessary temperature regime of the coolant to be maintained even in severe frosts,” according to a statement on the website of Kryvyi Rih Thermal Power Plant, which is managed by Naftogaz Group.
The statement notes that modern energy-efficient pumps manufactured in Germany will also be installed, which will be responsible for high-quality water treatment and stable water chemistry.
At the same time, the thermal power plant is preparing other facilities for winter – currently, major repairs are being carried out on 10 boilers throughout the city.
As reported, Deputy Prime Minister for Recovery and Minister of Community and Territorial Development Oleksiy Kuleba noted that as of mid-September, the readiness level of the heating network pipelines of Kryvorizhteplocentral JSC is approximately 60%, but all necessary work will be completed before the start of the heating season. He specified that more than 100 repair and restoration teams are currently involved in replacing heating networks, and work is being carried out first and foremost in areas of damage where hydraulic tests need to be conducted.
Northern Mining and Processing Plant (Northern GOK, Kryvyi Rih, Dnipropetrovsk region), part of the Metinvest Group, will sow rye on 75 hectares of tailings storage facilities as part of a dust suppression and soil fertility restoration program.
According to the company, throughout September, work is continuing on sowing cereal crops on dry areas of the tailings pond at the Northern Mining and Processing Plant’s technical supply and sludge management facility. The measures are being carried out as part of the City Program for Solving Environmental Problems in Kryvbas and Improving the State of the Natural Environment.
It should be noted that Metinvest’s enterprises are making efforts to maintain production and, even during these extremely difficult times, have not abandoned their commitments to addressing environmental issues.
This year, Northern GOK has planned and is already carrying out large-scale work using green technologies that will help prevent the dispersion of dry tailings ponds. Ten tons of seeds and four tons of complex fertilizers will be used to sow the disturbed land. Currently, the cereals sown in the first ten days of September have already sprouted.
“We conducted our first experiment with sowing rye on the tailings pond of Northern GOK in 2021. At that time, we had doubts about whether the crop would take root in areas with highly mineralized tailings. The positive result gave us the confidence to continue this practice in the future. Through experimentation, we also found that winter rye provides the best protection for surfaces. It has time to sprout before the cold weather sets in and form a dense network of roots, which prevents dry tailings from scattering in windy weather,” explained Oleg Bereza, lead dust control engineer at Northern GOK, explaining the essence of the method.
According to the specialist, today the area of the Northern GOK tailings pond is almost 170 hectares. Of these, 75 hectares of dry ponds will be planted with rye. About 60 hectares of the tailings pond are currently involved in increasing the level from +165 meters to +169 meters. Irrigation of this territory is carried out by a contracted construction organization. On more than 35 hectares of maps, uniform silting is carried out and the design water level in the storage pond is maintained. Also, to prevent dust formation, irrigation equipment is operating on the technological roads of the shop according to the schedule.
Northern GOK is part of the Metinvest Group, whose main shareholders are System Capital Management (SCM, Donetsk) (71.24%) and the Smart Holding group of companies (23.76%). The managing company of the Metinvest Group is Metinvest Holding LLC.
dust suppression, Pivdenny GOK, tailings storage facilities, WHEAT
