Business news from Ukraine

Business news from Ukraine

Net loss of pharmaceutical company Darnitsa amounted to almost UAH 480 mln

The net loss of PJSC Pharmaceutical Company Darnitsa (Kyiv) in January-June 2025 amounted to UAH 479.473 million, while in the same period of 2024, the company received UAH 6.528 million in net profit.

According to the company’s disclosure to the National Securities and Stock Market Commission, the net loss from sales in the first half of 2025 amounted to UAH 380.233 million, while in the same period of 2024, the profit from sales amounted to UAH 119.452 million.

As reported, Darnitsa’s net loss in January-March 2025 amounted to UAH 231.077 million, while in the same period of 2024, the company received UAH 19.484 million in net profit. Net sales revenue for the first quarter of 2025 decreased by 17.4% to almost UAH 1.018 billion.

In 2024, Darnitsa registered 10 drugs outside Ukraine and entered six new markets, including EU countries, Bosnia and Herzegovina, Israel, New Zealand, and Malaysia. In total, Darnitsa’s drugs are represented in more than 20 countries around the world.

At the end of 2024, exports accounted for 3.5% of the company’s sales. At the end of 2023, exports accounted for 4%. Exports were made to 17 countries.

Darnitsa has been present on the market for over 90 years, is one of the top 10 pharmaceutical manufacturers in Ukraine, and produces 180 brands of medicines in 15 different forms. The strategic areas of portfolio development are cardiology, neurology, and pain management.

According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the ultimate beneficiary of the company is Gleb Zagoriy.

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Nikopol Ferroalloy Plant increased its losses by 86%

In January-September of this year, PJSC Nikopol Ferroalloy Plant (NFP, Dnipropetrovsk region) increased its net loss by 86.1% compared to the same period last year, from UAH 1 billion 81.463 million to UAH 2 billion 12.843 million.

According to the NPF’s interim report, net income for this period decreased by 21.4% to UAH 5 billion 111.026 million from UAH 6 billion 500.004 million.

Undistributed profit at the end of September 2025 amounted to UAH 2 billion 281.398 million.

As reported, in 2024, NZF increased its net loss by 15.9% compared to 2023, to UAH 3 billion 35.966 million from UAH 2 billion 620.399 million. Net income for the past year decreased by 17.7% to UAH 7 billion 813.056 million from UAH 9 billion 493.059 million.

In addition, it was reported that the Pokrovsky Mining and Processing Plant (PGZK, formerly Ordzhonikidze Mining and Processing Plant) and the Marganetsky Mining and Processing Plant (MGZK, both in Dnipropetrovsk region), which are part of the Privat Group, stopped mining and processing raw manganese ore at the end of October-beginning of November 2023, while NZF and ZZF stopped smelting ferroalloys. In the summer of 2024, ferroalloy plants resumed production at a minimum level.

NZF is Ukraine’s largest producer of silicon and ferromanganese. The average monthly output of ferroalloys during stable operation of the enterprise is about 55-60 thousand tons.

According to NDU data for the first quarter of 2025, Sofalon Investments Limitad owns 15.503% of the shares of PrJSC, Rougella Properties Ltd. – 9.6904%, Dolemia Consulting Ltd. – 15.7056%, Sonerio Holdings Ltd. – 9.2158%, Manjalom Limited – 5.8824%, Treelon Investments Limited (all – Cyprus) – 15.1013%.

The authorized capital of PJSC NZF is UAH 418.915 million.

NZF is controlled by the EastOne group, created in the fall of 2007 as a result of the restructuring of the Interpipe group, as well as the Privat group (both based in Dnipro).

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Ukrtelecom increased its revenue to UAH 3.8 bln in first nine months of 2025

Ukrtelecom, Ukraine’s largest fixed-line operator, increased its revenue by 5.6% in January-September 2025 compared to the same period in 2024, to UAH 3.8 billion, and its EBITDA by 6.6%, to UAH 906 million.

According to the company’s press release on Friday, revenue from fiber-optic internet services grew by 11.3%, and the share of subscribers using fiber-optic internet reached 80%.

The operator added that in January-September 2025, more than 3.5 thousand km of fiber-optic lines were laid, and in total, since the beginning of the full-scale invasion, more than 20 thousand km of optics have been built, which has enabled 1.4 million households to connect to fiber-optic internet. In total, fiber-optic internet is currently available to over 3.3 million users.

Ukrtelecom specified that this year, over 90 medical and nearly 160 educational institutions were also connected to fiber-optic internet, increasing their total number to over 1,360 and about 1,860, respectively.

It is noted that the company’s commercial rental income for the third quarter of 2025 exceeded UAH 400 million, while last year this figure was UAH 325 million.

In the first nine months of 2025, Ukrtelecom paid UAH 1.175 billion in taxes and fees to the budget, which is more than 17% better than the same indicator last year.

As reported, in January-June 2025, Ukrtelecom received total revenue of almost UAH 2.47 billion, which is approximately 7.4% higher than in the same period of 2024, while EBITDA decreased by approximately 12.9% to over UAH 540 million.

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AMCU fined TB Fruit Capital UAH 39 mln for unauthorized concentration

The Antimonopoly Committee of Ukraine (AMCU) adopted four decisions recognizing the actions of juice producer TB Fruit Capital LLC as a violation of the Law “On Protection of Economic Competition,” the agency reported.

The AMCU noted that in July 2021, the company acquired 100% stakes in the authorized capital of Arsenal Invest Khmelnytsky LLC, Arsenal Investgroup Vinnytsia LLC, Arsenal Investgroup LLC, and Arsenal Investgroup Gorodok LLC without obtaining the necessary permission from the committee. Consequently, the AMCU initiated proceedings for violations related to the company’s implementation of the aforementioned concentrations without prior permission.

The agency reminded that a concentration requiring permission in accordance with Part 1 of Article 24 of the Law “On Protection of Economic Competition” is prohibited until permission is granted for its implementation. Until such permission is granted, the participants in the concentration are obliged to refrain from actions that may lead to a restriction of competition and the impossibility of restoring its initial state.

The AMCU recognized such actions of the company as violations of paragraph 12 of Article 50 of the Law “On Protection of Economic Competition” in the form of concentrations without obtaining the relevant permits from the committee, the presence of which is necessary, and as a result of considering four cases, fined it a total of UAH 39,103,231.

According to Opendatabot, TB Fruit Capital LLC is registered in the city of Gorodok, Lviv region. It specializes in the production of fruit and vegetable juices, baby food, and the processing and canning of fruits and vegetables. The beneficiary of the company is Taras Koliankovsky.

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National Bank of Ukraine has increased its estimate for grain and legume harvest in 2025

In its October inflation report, the National Bank of Ukraine increased its estimate for the grain and legume harvest in 2025 to 61.5 million tons from 57.9 million tons in its July report, but lowered its estimate for the oilseed harvest to 19.3 million tons from 21.0 million tons.
“According to the NBU’s assumptions, in 2026-2027, grain and legume harvests will grow thanks to further increases in agricultural productivity and an increase in corn and other grain crops in regions less affected by climate change,” the document says.
However, according to the National Bank, the harvest of oilseeds, which are mainly grown in the southern regions, will be lower due to the negative impact of climate change, exacerbated by the long-term consequences of the destruction of the Kakhovka hydroelectric power plant for the region’s irrigation systems.
“The security situation in the frontline regions of the south will continue to have an impact, worsening conditions for the 2026 sowing campaign and slowing down the pace of land demining,” the report also says.
As a result, the National Bank has improved its grain harvest forecast for 2026 from 59.6 million tons to 62.9 million tons, and for 2027 from 60.4 million tons to 63.5 million tons.
At the same time, oilseed harvest expectations have been reduced to 21.4 million tons next year from 22.0 million tons, and to 22.2 million tons in 2027 from 22.8 million tons.
“However, the NBU expects the livestock sector to continue to make a negative contribution to agricultural value added due to a further reduction in livestock numbers (with the exception of poultry),” the report also notes.
According to the State Statistics Service, the volume of early crops (wheat, barley, rapeseed, legumes) as of October 1, 2025, reached 32.6 million tons, while the 2024 harvest yielded 31.9 million tons (+2.1%). The current growth is primarily due to higher yields of wheat (+3.9%) and legumes (+35%), while the barley harvest has practically reached last year’s level (-0.6%), and the rapeseed harvest is 10.7% lower than last year.
Earlier, the Experts Club analytical center made a video analysis of wheat production by the world’s leading countries for the period 1991-2024.

 

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TAS Dniprovagonmash incurred losses of UAH 24 mln in nine months, compared to profits last year

TAS Dniprovagonmash LLC (DVM, Kamianske, Dnipropetrovsk region), controlled by the TAS financial and industrial group of businessman Serhiy Tihipko, ended January-September 2025 with a loss of UAH 23.7 million, while for the same period in 2024, net profit amounted to UAH 53.9 million.

According to the company’s published interim financial statements, the company’s net income increased by 16.3% to UAH 1 billion 486.5 million.

The company reduced its gross profit by 32.6% to UAH 92.3 million, incurring a loss of UAH 13.7 million from operating activities, compared to a profit of UAH 67.6 million in January-September 2024.

As reported, in the first half of this year, the company incurred a loss of UAH 39.6 million (a year earlier, it had a net profit of UAH 18.8 million) due to a 29.5% decrease in revenue to UAH 561.2 million.

Thus, TAS Dniprovagonmash ended the third quarter of this year with a net profit of almost UAH 16 million, which is 54.4% less than in the same period last year, while net revenue increased by 92.2% to UAH 925.2 million.

The plant notes that in the third quarter, exports accounted for 38.4% of sales, with rolling stock supplied to Lithuania and Croatia.

According to the report, in the third quarter of this year, the plant produced 159 freight cars (compared to 139 in the same period of 2024), with an average selling price of UAH 2,530,900 (compared to UAH 2,782,800 in the second quarter).

The company does not provide the total number of cars produced in nine months, but based on quarterly data, 542 cars were produced, which is 19% more than in the same period last year (456 cars).

TAS Dniprovagonmash’s share in the total production of freight cars in Ukraine in July-September was 90% (in the first quarter – 25.8%, in the second – 46%), and its main competitors remain the Kryukiv Railway Car Building Works (which did not produce freight cars in the third quarter), the Karpaty Research and Mechanical Plant, and Ukrzaliznytsia enterprises.

The plant’s production capacity was utilized at 25% in the second quarter, and its equipment at 29%.

As of the beginning of October this year, the company employed 708 people.

As reported, TAS Dniprovagonmash, which has the capacity to produce 9,000 railcars per year, increased its sales of freight railcars by 63.7% in 2024 compared to 2023, to 606 units, and production by 59.2%, to 602 units.

Last year, the plant increased its net profit by 31.6% to UAH 62.3 million and its net income by 61.8% to UAH 1 billion 743.7 million.

The TAS Group is one of the largest financial and industrial groups in Ukraine, operating in the banking sector, insurance, railcar manufacturing, metallurgy, logistics, agriculture, food industry, packaging materials production, and real estate.

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