PJSC Centravіs Production Ukraine (Nikopol, Dnipropetrovsk region), part of the Centravіs Ltd. holding, reduced its net profit by 2.5 times compared to the same period last year, to UAH 158.111 million from UAH 398.888 million, based on the results of its operations in January-September of this year.
According to the company’s interim report, which is available to Interfax-Ukraine, the company increased its net income by 1.4% to UAH 3 billion 961.714 million in the first nine months of this year.
The uncovered loss at the end of September 2025 amounted to UAH 888.623 million.
In order to ensure the necessary volume of pipe billets, the company diversifies its purchases by purchasing pipe billets from foreign manufacturers. About 70% of pipe billets are purchased abroad. The company continues to cooperate with Ukrainian pipe billet manufacturers, whose production facilities are located in the Dnipropetrovsk and Zaporizhzhia regions.
In the first nine months of 2025, the company produced 9,974 thousand tons of pipes.
The company is export-oriented, with exports accounting for 96% of sales in the first nine months of 2025. The largest markets for its products are Germany, Italy, and the United States. In addition, pipe products are also sold in the Middle East, Asia, and Australia. In the first nine months of 2025, 9,919 thousand tons of pipes were sold, of which 9.9 thousand tons were exported.
An additional incentive for the company’s pipe exports is the temporary measures to liberalize trade and abolish customs tariffs and quotas by European countries and the US. In particular, in 2023, the EU and the US extended the suspension of customs tariffs and quotas on Ukrainian goods exported to European and American markets until June 1, 2024. In May 2024, this suspension was extended until June 5, 2025.
The company constantly monitors liquidity and credit portfolio management. The company pays all current loan payments in accordance with the repayment terms specified in the current agreements. On April 15, 2025, the company signed an agreement with its main creditor, Ukreximbank, on the long-term restructuring of its loan portfolio, namely the extension of long-term lines of €19,369,180 and $3,740,450 until February 22, 2031 (before the signing, the term was until February 22, 2026), and a short-term line of EUR 9 million was extended until March 3, 2028 (before the signing, only short-term extensions were carried out). This event has a significant positive impact on the company’s liquidity and solvency, allowing it to reduce its current debt burden and ensure stable cash flows.
In addition, to meet the company’s operational needs, on May 5, 2025, a general credit agreement was signed with the commercial bank Pivdenny for a total amount of short-term lending of UAH 50 million secured by a VAT declaration, which allowed the company to optimize cash flows and improve working capital. In July 2025, the company entered into an additional agreement with the bank to reduce the interest rate on short-term loans in national currency from 19% to 18% per annum, which has a positive impact on liquidity indicators.
As of September 30, 2025, the company applied for a VAT refund in the amount of UAH 57.834 million (as of December 31, 2024 – UAH 83.925 million), which was received from the state budget after the reporting date. Based on the results of the audits, the tax authorities did not confirm the VAT refund in the total amount of UAH 23.806 million. The company is challenging the results of the VAT audit in court.
In 2024, the company received a net profit of UAH 310.045 million, while it ended 2023 with a loss of UAH 384.664 million. At the same time, it increased its net income by 3.7% to UAH 5 billion 226.606 million. The company produced 14,017 thousand tons of pipes (in 2023 – 12,412 thousand tons), with exports accounting for 90.1% in 2024.
With regard to environmental protection, the board of directors considered issues related to reducing the harmfulness of production by improving production technologies, in particular, the transition to azote-free pipe pickling. In accordance with the requirements of Directive 2003/87/EC, a decision was made to implement a system for monitoring, reporting, and verifying greenhouse gas emissions and quarterly CBAM reporting.
According to the report, the profit in the current and previous reporting periods was mainly due to the forgiveness of debt on accrued interest under a loan agreement with a related non-resident entity, Centravis Finance Ltd.
On September 24, 2025, the sole shareholder of the company, Centravis SA (Switzerland), decided to increase the authorized capital by issuing additional shares worth UAH 4,335,171 thousand without a public offering.
The shares were valued by Uvecon Consulting Company LLC. Participants in the share placement must submit an application for the purchase of shares to the authorized person between February 28 and April 28, 2026.
Sentravis was founded in 2000 and is one of the ten largest manufacturers of seamless stainless steel pipes in the world. Its main production facilities are located in Nikopol (Dnipropetrovsk region). In 2023, a branch of the company was opened in Uzhhorod.
The company’s main activity is the production and sale of seamless stainless steel pipes. As of September 30, 2025, the company employed 1,428 people (as of September 30, 2024, 1,541 people).
Centravіs Ltd. was established on the basis of Nikopol Stainless Steel Pipe Plant CJSC and the service and trading companies of YUVIS Production and Commercial Enterprise LLC. Its shareholders are members of the Atanasov family. Centravis Ltd. owns 100% of the shares of PJSC “Centravis Production Ukraine.”
According to the NDU for the third quarter of 2025, Centravis SA (Centravis AG) (Centravis Ltd) (Switzerland) owns 100% of the shares of PJSC “Centravis Production Ukraine”.
According to the company’s information, as of September 30, 2025, the ultimate beneficial owners of the company are Yuriy Atanasov, who owns 66.7% of the shares, Konstantin Atanasov with 16.65%, and Kateryna Atanasova-Milovanova with 16.65%. The 6,668 shares in the authorized capital of UVIS Group Limited, which belonged to Vasyl Atanasov, who died on September 18, 2023, were inherited by Yuriy Atanasov.
The authorized capital currently amounts to UAH 202.560 million, with a nominal value of UAH 1 per share.
