PJSC “Dniprovsky Metallurgical Plant” (DMZ), part of the DCH Steel division of businessman Oleksandr Yaroslavsky’s DCH Group, reduced its net loss by 78.3% in January-March of this year compared to the same period last year—to UAH 29.031 million from UAH 133.943 million.
According to the company’s interim report, available to the Interfax-Ukraine agency, revenue from ordinary activities during this period fell by nearly sevenfold—to UAH 131.165 million from UAH 886.267 million.
The uncovered loss as of the end of March 2026 amounted to UAH 778.384 million.
In Q1 2026, the company produced 279 tons of metal products; the company’s products were not sold for export. Taking into account the current situation in Ukraine, the industry, and existing restrictions, in accordance with the work plan adopted for 2026, the following operational activities are planned: production of rolled steel from customer-supplied billets (40,000 tons), and production of spare parts in the repair and mechanical workshop (RMW). The production plan for 2026 was drawn up based on the assumption that hostilities will continue and therefore production capacities will be affected.
The average number of full-time employees is 484, and the payroll fund amounts to UAH 37.842 million.
The main achievement of last year was the completion of the project (which began in 2023) to transition PC-2 production to continuously cast billets, which helped reduce production costs. Currently, all standard sizes of channel sections sold by the company in accordance with Ukrainian and European standards have been transitioned to standard cast billets.
To improve energy efficiency, work continues on the construction of a new above-ground water pipeline from Shoreline Pumping Station No. 1 to supply process water to the wastewater treatment plant serving PC-2, which will enable energy savings and reduce transmission losses. To optimize electricity costs, the number of operational power transformers was maintained at the minimum operational level. As of March 31, 2026, 109 transformers were decommissioned, and an additional 2 units that were not involved in production processes were dismantled.
The report notes that for the period until the end of the military aggression, the company’s primary goal is to continue and maintain production at current levels and achieve a minimal but positive financial result. Following the end of the war, in the context of post-war reconstruction and deepening economic integration with the EU, the company is developing a comprehensive modernization strategy incorporating “green” production technologies to achieve competitiveness in the European market and minimize environmental risks in Ukraine.
In this context, the company’s leading specialists are exploring the construction of an electric steelmaking complex (ESCC) with a capacity of 450,000 tons per year. The ESFC will supply billets to the rolling mills of PJSC “DMZ” and reduce harmful emissions to a level that will allow for the export of products to the EU under the Common Market Access (CMA) tariff regime. Purchased scrap metal will be used as raw material. The cost of rolled products manufactured from the company’s own square billets will allow for a higher margin on sales and ensure that the production capacity of Mill 550 is utilized to its maximum annual level—190,000 tons.
In the second phase, to expand the product range, it is proposed to modernize Mill 550 by installing additional universal rolling stands for the production of I-beam rolled steel with a capacity of 30,000 tons per year. This type of rolled steel is currently 100% imported into Ukraine; if produced at PJSC “DMZ,” it will generate additional margin revenue compared to cast billets. It is planned to expand the product range and increase sales margins by constructing a light-gauge mill with a capacity of 120,000 tons per year during the third phase.
According to the 2025 annual report, DMZ increased its loss by 5.5 times last year compared to 2024—to UAH 1,225.795 million—while revenue from ordinary activities fell by 3.2 times—to UAH 1,664.980 million.
As reported, DMZ posted a net loss of 222.117 million UAH for 2024, compared to a net profit of 504.591 million UAH in 2023. The plant reported a net profit of 4.225 million UAH for 2022, while in 2021 it stood at 1.725157 billion UAH.
DMZ reported a net profit of UAH 1.725157 billion in 2021, whereas it ended 2020 with a net loss of UAH 394.091 million.
DMZ specializes in the production of steel, cast iron, rolled products, and products made from them. The plant has a full metallurgical production cycle: a blast furnace shop, an oxygen converter shop, coke and chemical production, and rolling production, which consists of two section rolling mills (Mill 800 and Mill 550). However, due to the shutdown of the blast furnace in 2022, sales of long steel products in the first quarter of 2026 from the plant’s own inventory consisted only of isolated orders from remaining stock. Due to the shutdown of coke production in May 2025, sales of remaining coke products were made from inventory.
On March 1, 2018, the DCH Group signed an agreement to purchase the Dnipro Metallurgical Plant from Evraz.
According to the National Securities and Stock Market Commission (NSSMC) data for the first quarter of 2026, Drampisco Limited (Cyprus) owns 97.7346% of DMZ’s shares.
According to the 2025 report, the ultimate beneficial owner (controller) of PJSC “Dniprovsky Metallurgical Plant” is Oleksandr Yaroslavskyi, a citizen of Ukraine and the United Kingdom. Type of beneficial ownership: indirect controlling influence, percentage of share capital (indirect influence): 87.96%.
The share capital of the private joint-stock company is UAH 574.994 million, and the par value of a share is UAH 0.25.
