PJSC Kryukiv Railway Car Building Works (KVBZ, Poltava region) ended January-September 2025 with a consolidated loss of UAH 76.1 million, while for the same period in 2024, net profit amounted to UAH 48.4 million.
According to the company’s interim consolidated financial statements published on its website, consolidated net income increased slightly to UAH 2.293 billion.
The uncovered loss amounted to UAH 138.8 million, compared to UAH 62.7 million a year earlier.
During the reporting period, the plant received UAH 106.6 million in consolidated losses from operating activities, twice as much as a year earlier, while gross profit decreased by 5% to UAH 119.8 million.
The KVBZ Group includes PJSC Kryukiv Railway Car Building Works, as well as wholly-owned subsidiaries LLC Instrumental Plant (production of equipment, spare parts, tools) and LLC V.N.V. (rental services, sale of railway cars).
According to the report, in January-September, revenue from the sale of railway cars increased by 4.2% to UAH 2.101 billion, with freight cars decreasing by 56.7% to UAH 873.2 million and passenger cars amounting to UAH 1.228 billion (there were no sales last year).
The cars were delivered to Ukrainian customers, in particular, 45 compartment passenger sleeping cars were shipped under a contract with Ukrzaliznytsia, four of which are equipped for the transportation of passengers with disabilities.
The group also reduced its revenue from the sale of spare parts by 46% to UAH 89.3 million, while revenue from the provision of services amounted to UAH 102.3 million (down 18%).
In Ukraine, products worth UAH 2.07 billion were sold (almost equal to last year’s figure), products worth UAH 207.9 million were delivered to European countries (almost three times more), and products worth UAH 10.5 million were delivered to Asia and the Middle East (12.5 times less).
According to KVBZ’s unconsolidated financial statements, the plant incurred a loss of UAH 76.7 million in January-September, compared to a net profit of UAH 40.7 million in the same period last year. Net income decreased slightly to UAH 2 billion 271 million.
KVZ notes that, given the significant surplus of freight cars on the Ukrainian market, low rental rates, and insufficient cargo base for the existing fleet of cars, only 5 freight cars were sold in the third quarter (121 in the first quarter and none in the second).
According to the company, in July-August 2025 (no information available for September), domestic competitors sold 316 freight cars under previously concluded contracts, and KVBZ’s share among private car manufacturers in Ukraine during this period was 12.7% (125 cars).
KVBZ manufactures passenger and freight cars, regional diesel trains, high-speed interregional locomotive-hauled trains, spare parts and bogies for freight cars, and escalators.
The average number of employees at the plant is 3,337 (last year – 3,611).
In 2024, the plant sold 1,096 freight cars, which is almost 10% more than sales in pre-war 2021. The first 15 passenger cars were also delivered to Ukrzaliznytsia under contracts for 66 units. Net profit amounted to UAH 81.08 million, compared to a loss of UAH 143.76 million in 2023.
