Business news from Ukraine

Business news from Ukraine

Litynsky Breeding Plant appoints Moskalevsky as chairman of board

PrJSC Litynsky Breeding Plant, part of the Roshen confectionery corporation, has changed its chairman of the board: Konstantin Pivnya will be replaced by Vyacheslav Moskalevsky for a term of one year, effective May 14.

According to information published on Tuesday in the disclosure system of the National Securities and Stock Market Commission (NSSMC), Moskalyevsky has been chairman of the supervisory board of JSC Versey, financial director of Evertrade LLC, administrative manager of the state-owned enterprise Konditerska Korporatsiya Roshen, and chairman/member of the supervisory board of the private joint-stock company Plemzavod Litinsky.

In addition, the supervisory board carried out personnel changes among the members of the management board, in particular, terminating the powers of Oleksandr Shvets, who was replaced by Iryna Kurylo. Serhiy Okolodko retained his position.

The general meeting of shareholders on April 29 decided to pay dividends (on ordinary shares) in the amount of UAH 10.413 million from net profit for 2024 at a rate of UAH 2.25 per ordinary share. The management board was instructed to compile a list of persons entitled to receive dividends by May 27 and to make payments by November 26, 2025.

PJSC “Plemzavod ‘Litinsky’ was founded in 1964 in the village of Hromadske, Litinsky district, Vinnytsia region. The plant is engaged in the breeding of young cattle and pigs; the cultivation of grain, fodder and oil crops, sugar beets; the production of milk, meat and other industrial and agricultural products; production of seeds of varietal and hybrid varieties of grain crops; production of flour, cereals, and other products, as well as their sale. The main market is agricultural enterprises in Ukraine that purchase breeding animals for further breeding.

According to Opendatabot, in 2024, PrJSC “Plemzavod ‘Litinsky’ increased its revenue by 10.9% to UAH 383.365 million, net profit by 2.4 times to UAH 115.291 million, debt obligations by 15.6% to UAH 218.485 million, assets by 9.6%, to UAH 604.593 million, and the number of employees by 19, to 98 employees. The company’s authorized capital is UAH 1.157 million.

Its major shareholders are Oleg Oleksiuk (9.98%) and PJSC “Closed Non-Diversified Venture Corporate Investment Fund ‘Konditerinvest’ (90%).

EU prepares restrictions on agricultural exports from Ukraine: losses will reach EUR3.5 bln

The EU is preparing to impose increased tariffs on Ukrainian imports within a few weeks, which will hit Ukraine’s economy at a crucial moment in its fight against Russian aggression, the Financial Times reported.

According to the publication’s sources, the decision to abruptly terminate special trade agreements that allowed most Ukrainian goods to be imported into the EU duty-free was made after Poland led a movement to protect the bloc’s farmers.

European diplomats said that this transitional proposal, recently sent to EU member states, would sharply reduce duty-free quotas for agricultural products.

Two EU diplomats told the FT that the European Commission’s transitional measure would split the annual duty-free quota into 12 monthly quotas to reduce imports while negotiations continue.

This will have the greatest impact on corn, sugar, honey, and poultry. The corn quota will be reduced from 4.7 million tons to 650,000 tons per year. The quota for poultry will fall from 57,000 tons to 40,000 tons, and for sugar from 109,000 tons to 40,700 tons.

A European Commission representative confirmed that the military agreements will not be reinstated “because we are currently working on revising” the free trade agreement between the EU and Ukraine.

“The Commission is also looking into possible transitional measures in case the talks aren’t finished and aren’t applied by June 6,“ he added.

“This is a really bad signal for Ukraine,” said Bernd Lange, head of the European Parliament’s trade committee, adding that the search for a solution will continue until at least October.

His committee will hear the European Commission’s position on Wednesday on why the promised trade talks have stalled, given that the June deadline was “known for a long time,” Lange said.

According to the publication, the Ukrainian government estimates that a return to pre-war trade conditions would reduce the country’s revenues by approximately EUR 3.5 billion.

“This is a huge step backwards. What we are seeing now is a lack of understanding,” said Mykhailo Bno-Ayriyan, trade representative of the Federation of Employers of Ukraine.

As reported, the EU has a free trade agreement with Ukraine, and after Russia’s invasion of Ukraine in 2022, the EU temporarily suspended customs tariffs on Ukrainian agricultural products. These agreements expire on June 6, and the EU plans to replace them with “transitional measures” while both sides update their joint trade agreement.

The duty-free regime established in 2022 applied to poultry meat, wheat, and sugar from Ukraine, most of which passed through EU countries on their way to Africa and Asia. But farmers and politicians in Poland, France, and other countries have blamed Ukrainian exports for driving down domestic prices. Ahead of the May 18 presidential election, Warsaw asked the European Commission to postpone the highly unpopular trade talks with Kyiv to minimize the chances of nationalist opposition candidate Karol Nawrocki.

Since early 2025, the European Commission has stated its intention to abolish preferential trade in agricultural products for Ukraine. It was expected that trade measures to support Ukraine would be more modest and that imports into the EU would decline.

,

Astarta completes sowing on 146,000 hectares despite climate challenges

The enterprises of Astarta, Ukraine’s largest sugar producer, have completed the spring sowing campaign on 146,000 hectares, responding quickly to the weather conditions of the season, the agricultural holding’s press service reported on Facebook.

“This year’s spring sowing took place under challenging weather conditions: abnormally high temperatures in March and frosts in April. Low soil moisture reserves after winter and their rapid decline due to early temperature rises forced the team to act quickly and in a coordinated manner. During a short “window” of favorable conditions, our divisions coordinated the entire complex of spring field work, completing sowing in the shortest possible time,” said Andriy Zagorulko, director of the crop production, logistics, and mechanization department of the agricultural holding.

Astarta noted that in the 2025 season, the crop structure will be as follows: sugar beets – 34,000 hectares, soybeans – 56,000 hectares, winter wheat – 46,000 hectares, sunflowers – 29,000 hectares, rapeseed – 11,000 hectares, corn – 14,000 hectares, and organic crops – 2,000 hectares.

Farmers are currently continuing to care for their crops, constantly monitoring their condition, moisture levels, and phytosanitary status. The production team is actively preparing for the start of the early grain harvest, which will begin in less than two months.

Astarta is a vertically integrated agro-industrial holding operating in eight regions of 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 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, revenue grew by 12.6% to EUR441.46 million, and EBITDA by 12.8% to $131.56 million.

,

DTEK Energy manufactured and repaired over 1,100 pieces of mining equipment

In January-April this year, DTEK Energy’s machine builders manufactured and repaired 1,136 pieces of mining equipment, including three new combines for mining operations.

According to a press release issued by the energy holding company on Tuesday, the machine builders also supplied mines with over 735,000 spare parts and components.

“We are already actively preparing for the next autumn-winter period. Our main task is to get through it as reliably as possible. To this end, our machine builders are providing miners with the necessary equipment and hundreds of thousands of spare parts, on which the reliability of coal production depends, and therefore the operation of thermal power generation, especially during peak electricity consumption,” DTEK Energy CEO Alexander Fomenko is quoted as saying in the press release.

According to Korum Druzhkivka Machine Building Plant, one of DTEK Energy’s machine-building assets, in January-April it manufactured 106 units of GSH (including 34 in April), repaired two KPD combines, and produced over 286,000 components.

According to a press release, DTEK Energy miners have put five coal longwall faces into operation since the beginning of the year.

As reported, in 2024, the company’s investments in Ukrainian coal mining amounted to UAH 7.5 billion, and over the last three years (2022-2024) – UAH 18 billion. The funds were allocated for the construction and repair of capital mine workings, the completion of coal longwall panels, the equipping of mines with tunneling equipment, underground mine transport, and projects to support production capacities.

DTEK Energy provides a closed cycle of coal-fired power generation. As of January 2022, the company’s installed thermal generation capacity was 13.3 GW. A full production cycle has been established in coal mining: coal extraction and enrichment, machine building, and maintenance of mining equipment.

Farmers have received over UAH 44 bln in state support since beginning of year

Since the beginning of 2025, 7,400 agricultural enterprises have received almost UAH 44.5 billion under various state programs, Prime Minister Denys Shmyhal said on Telegram following a government meeting on Tuesday, emphasizing that Ukrainian farmers are actively using such support instruments.

The Prime Minister stressed that subsidies for the development of livestock farming have been allocated to 7,700 farms. The state has attracted more than UAH 390 million in grant funds from the World Bank to pay the next tranche under the relevant program.

In addition, under the demining compensation program, farmers received almost 1,400 hectares of land for cultivation. In total, thanks to the work of sappers, areas with a total area of over 35,000 square kilometers have been returned to use.

“As part of the comprehensive program “Made in Ukraine,” we are paying compensation to agricultural producers who purchase Ukrainian equipment. Last year, farmers purchased 5,300 units of equipment. We expect demand to be even higher this year,” the head of government added.

Components of state budget expenditures in 2021-2024, UAH billion

Components of state budget expenditures in 2021-2024, UAH billion

Source: Open4Business.com.ua