In 2024, ArcelorMittal Kryvyi Rih’s Kryvyi Rih Mining and Metallurgical Plant (AMKR, Dnipro region) paid UAH 6.6 billion in taxes and fees to budgets of all levels, up more than 60% from the total tax payments for 2023 (UAH 4.1 billion).
According to the plant’s press release on Wednesday, UAH 727 million of the budget payments for the past year went to the state budget and UAH 3 billion to local budgets. The company also paid almost UAH 830 million in unified social tax and UAH 2.1 billion in value added tax on imports of raw materials.
In the structure of taxes and fees in 2024, the largest amount was paid in land tax. Thus, the company paid almost UAH 2.2 billion in land tax to the local community of Kryvyi Rih, which is UAH 0.8 billion more than in 2023. This tax has become the main component of the growth in payments to local budgets.
Pavlo Zadorozhny, Chief Financial Officer of AMKR, emphasized that the company remains a reliable partner of the state despite the challenges of wartime and the company’s difficult financial situation.
“In 2024, the company tried to break even and carried out significant internal work to reduce costs. However, the instability of energy supply due to enemy attacks, high electricity tariffs and the need to import it, expensive logistics, and the unfavorable situation on world markets, unfortunately, created additional obstacles for us. For the third year in a row, we have been operating at a loss,” Zadorozhny stated.
According to him, despite these problems, AMKR continues to work on improving its operational and financial performance to ensure the future development of the company and its staff, as well as stable tax revenues to the state budget and local communities.
As reported, in 2023, AMKR paid UAH 4.1 billion in taxes and duties to the budgets of all levels, which is 2.1 times less than the total amount of tax payments in 2022 (UAH 8.8 billion). Of this amount, UAH 243 million went to the state budget and UAH 2.2 billion to local budgets. In addition, almost UAH 751 million of unified social tax and UAH 856 million of value added tax on imports of raw materials were paid.
In 2022, AMKR reduced its tax payments by 39.7% due to the decline in production as a result of the war – to UAH 8.8 billion in taxes and fees compared to UAH 14.6 billion in 2021.
In 2021, AMKR paid UAH 14.6 billion in taxes and duties to the budgets of all levels, which was 2.3 times higher than the total amount of tax payments in 2020 (UAH 6.4 billion).
“ArcelorMittal Kryvyi Rih is the largest rolled steel producer in Ukraine. It specializes in long products, including rebar and wire rod.
ArcelorMittal owns the largest mining and metallurgical plant in Ukraine, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Berislav.
Zaporozhogneupor, Ukraine’s largest refractory products manufacturer and part of Metinvest Group, increased production by 25% year-on-year to 96 thousand tons in 2024.
According to the company, despite the difficulties caused by the full-scale war, Zaporozhogneupor’s team continues to work steadily, produce refractory products and provide quality services.
In 2024, Zaporozhogneupor produced about 96 thousand tons of refractory products, which is a quarter higher than in 2023. Consumers include the metallurgical, food, energy, and coke industries.
To ensure a high level of production, the company systematically monitors and improves the condition of its equipment and introduces new approaches to its operations. As a result, the level of emergency and unscheduled equipment downtime in 2024 was reduced by more than 20% compared to 2023.
“Our strategic goal for 2025 is to maintain our sales markets and, together with our partners, continue to support the Ukrainian economy,” said Artur Ivanchenko, CEO of Zaporozhogneupor.
“Zaporozhogneupor is Ukraine’s largest enterprise producing high quality refractory products and materials. The company produces chamotte, mullite, mullite-silica, mullite-corundum, periclase, periclase-chromite products, silicon carbide electric heaters and unmolded refractory materials. The company’s products are widely used in Ukraine, as well as in the CIS, Europe, Asia and Africa.
According to the third quarter of 2024, Metinvest B.V. (Netherlands) owned 50.7899% of Zaporozhogneupor shares, while Zaporizhstal owned 49.2101%.
The authorized capital of the PrJSC is UAH 75.925 million.
Ruta, a major Ukrainian manufacturer of sanitary and hygienic paper products, whose management company is VGP JSC (Lutsk), produced UAH 1 billion 751 million worth of products in 2024, up 8.7% from 2023.
According to statistics provided by Ukrpapir Association toInterfax-Ukraine, the company has thus slightly accelerated the positive dynamics of production volumes compared to last year, which it reached in the first nine months of 2023.
In physical terms, the company’s production of toilet paper in rolls, slightly exceeding the 2023 figure, amounted to 133.54 million units, which remains the third best result in the industry after Kyiv Cardboard and Paper Mill (272 million units) and Kokhava Paper Mill (137 million units).
The company produces pulp-based sanitary and hygienic products from imported base paper.
VGP’s portfolio includes dry and wet wipes, toilet paper, paper handkerchiefs, and kitchen towels. The assortment includes more than 180 items.
As reported, in 2023, VGP JSC produced products worth UAH 1 billion 611 million, up 64.8% year-on-year.
Most companies expect the United States’ support for Ukraine to continue or increase (77%), while the rest predict its decrease (23%).
This is evidenced by the results of the survey “Doing Business in Military Ukraine. January 2025” by the American Chamber of Commerce in Ukraine (AmCham).
According to information on the website of the organization, when asked about the likelihood of a ceasefire in 2025, 61% of respondents said they believe it is possible, 31% – doubtful, and 8% – expect escalation on the front.
“85% of companies are fully operational and will continue to invest in Ukraine in 2025. This is a strong signal for those considering Ukraine as an investment destination. While 77% of businesses expect continued or increased US support, the momentum of Ukraine’s recovery is creating opportunities for forward-thinking investors,” AmCham President Andrei Gunder was quoted as saying by the organization.
It is emphasized that, compared to 2024, 53% of respondents forecast sales growth in 2025, with the majority expecting moderate growth of up to 15%. At the same time, 37% believe sales will remain at last year’s level, with 10% predicting a decline. Compared to the pre-war time, 39% of respondents expect growth, 34% – decline, and 27% – stability.
It is noted that investment in Ukraine remains a key priority for many companies. Despite difficult times, 35% of respondents plan to increase investments in 2025, while 48% plan to maintain them at the level of 2024. The European Union is expected to be the main source of investment (88%). This is followed by the United States (71%) and Asia (18%).
Regarding the location of employees and management, the survey showed that 45% of companies have employees in Ukraine, while 43% operate a hybrid model with employees in and outside Ukraine. In addition, 59% of management teams are based entirely in Ukraine, while 37% operate under a hybrid model.
According to the survey data regarding the economic forecast for 2025, it is cautiously optimistic. More than 40% of respondents expect growth in economic and business activity compared to 2024, almost 50% foresee stability, and 12% predict a decline.
The survey, conducted from January 8-16, 2025, surveyed 145 CEOs and senior executives of Chamber member companies across a variety of industries. Two-thirds of the respondents were CEOs.
As reported, in the previous survey conducted on December 5 among the participants of the annual meeting of members (AmCham) (230 respondents), more than three-quarters (77.8%) expected a ceasefire in 2025.
Interfax-Ukraine correspondent reported that almost 68% of respondents expected newly elected US President Donald Trump to come to Kiev in 2025, almost two-thirds – 62.7% – expected the resumption of international flights to Ukraine in 2025.
Zaporizhstal Iron and Steel Works is increasing the durability of its rolls by increasing the volume of rolled metal and improving its efficiency.
According to the company, the hot rolling shop systematically implements effective measures to improve production and reduce costs.
For example, last year, the rollers increased the stability of horizontal rolls at Slabbing 1150, which made it possible to roll 20 thousand tons more metal per coil. This resulted in an economic effect of about $18 thousand per year.
In addition, the specialists of the Cold Rolling Shop (CRS) implemented a combined technology for processing slabs, which led to a significant reduction in rejects. As a result, the economic effect amounted to $125 thousand per year.
We also worked productively on one of the most important indicators – the metal consumption ratio. A whole range of measures was implemented to reduce the amount of scrap metal by 2.2 kg per ton of rolled steel. These measures resulted in $475 thousand of economic effect per year.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries around the world.
“Zaporizhstal is in the process of being integrated into Metinvest Group, whose major shareholders are System Capital Management PrJSC (71.24%) and Smart Holding Group (23.76%).
Metinvest Holding LLC is the management company of Metinvest Group.
On the first day of his presidency, Trump intends to sign executive orders, including reinstating the death penalty at the federal level in the United States, which was abolished by Biden, and declaring a state of emergency on the southern border, representatives of the new administration told Reuters.
“Even before Trump was set to take office, his aides detailed a series of executive orders he would sign immediately, including 10 on border security and immigration, his top priority,” Reuters reported on Monday.
It is reported that on the first day, Trump will also declare a state of emergency on the southern border, send troops to the region and reinstate the policy that forces asylum seekers to wait in Mexico for a hearing in a US court. Will require that official U.S. documents, including passports, indicate the gender assigned to citizens at birth. Pardon 1,500 people involved in the Capitol storming case.
“On his first day, which also happens to be Martin Luther King Jr. Day, he will also sign an executive order ending diversity, equality and inclusion initiatives in the federal government, officials said,” the agency noted.
In the midst of the ceremony, Trump is expected to begin “signing his first executive orders, many of which are likely to face legal challenges.”
Earlier, the Experts Club think tank, Brian Mefford and Maxim Urakin, released a video analysis of what changes await US domestic and foreign policy under Trump, the video is available on the Experts Club YouTube channel – https://youtu.be/W2elNY1xczM?si=MM-QjSqGce4Tlq6T
