In 2024, the manufacturer of agricultural machinery and special vehicles, Fregat Plant JSC (Pervomaisk, Mykolaiv region), increased its net income from sales by 34.6% compared to 2023, to UAH 188.6 million.
According to the company’s financial report published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its loss increased by 58% to UAH 60.4 million.
At the same time, the plant earned UAH 71.1 million in gross profit, up 44% year-on-year, and its operating profit increased 1.5 times to UAH 12.6 million.
As reported, in January-September 2024, the plant increased its loss by 5.4 times compared to the same period in 2023, to UAH 41.6 million, due to a 7.5-fold increase in expenses under “other expenses” to UAH 48 million, while net income increased by 42.4% to UAH 134.7 million.
Thus, in the fourth quarter of 2024, the plant reduced its loss by 38.4% compared to October-December 2023 to UAH 18.8 million, while net income increased by 18.4% to UAH 54 million.
Fregat specializes in the production of irrigation systems, road fencing, metal structures, as well as engineering products and special-purpose machinery.
The company exports road safety fences to Germany, the Netherlands, Poland, and the former CIS countries (except Russia and Belarus), where it also supplies agricultural machinery for crop production.
The main foreign customers are BBV Baustahl und Blechverarbeitungsgesellschaft mb, Scuer GmbH (Germany), Meerman Technisch Buro B.V. (Netherlands), and Agrorada (Poland).
As of the beginning of this year, the average number of employees was 260, and the average salary was UAH 12.4 thousand (44.2% more than in 2023).
In 2023, the plant, according to its financial report, reduced its loss by 4.2 times compared to 2022, to UAH 33.6 million, while net income decreased by 16% to UAH 140 million.
As of the third quarter of 2024, Fregat Engineering Limited (Cyprus) owns more than 96.25% of the authorized capital of Fregat Plant JSC, and the ultimate beneficiaries, according to opendatabot, are members of the Dementienko family from Dnipro.
