Business news from Ukraine

Business news from Ukraine

“Elax” to pay UAH 50 mln in dividends to shareholders

Elax PrJSC (Kharkiv), one of the leading suppliers of products and integrated solutions in the field of automation and power supply for industrial enterprises, will pay UAH 50 million in dividends to shareholders based on the results of its operations in 2024 at the rate of UAH 62.5 thousand per share (par value UAH 1).

According to the company’s announcement in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the decision was made by the general meeting of shareholders on February 17.
The dividend payment period is set from March 4 to July 27, 2025, and will be paid in installments of UAH 10 million.

The company does not disclose the amount of net profit in 2024 (in January-September 2024, according to Clarity Project, it amounted to UAH 39.34 million, retained earnings – UAH 103 million).
According to the NSSMC, as of the third quarter of 2024, the company’s shareholders were Iryna and Dmytro Kolchyk (69.625% and 30.375% of the authorized capital, respectively).

According to the company’s annual report, based on the results of its operations in 2023, dividends were paid in the amount of UAH 50 thousand per share for a total amount of UAH 40 million. In 2023, the company earned UAH 41.8 million in net profit (3.3 times more than a year earlier), with net income increasing 2.5 times to UAH 338.6 million.

Elax provides comprehensive services for the creation of automated process control systems (APCS) based on equipment from leading global manufacturers, develops power supply systems and performs electrical installation and commissioning.
In 2022, it partially relocated production to Rivne.

Customers of the company’s products and services include Metinvest, MHP, Kernel, Lactalis, Nestle, Dyckerhoff, and Zdorovye pharmaceutical company.
According to Clarity Project, in January-September 2024, the company increased its net income by 8% compared to the same period in 2023, to UAH 201.2 million, with net profit growing 2.5 times to UAH 39.3 million.

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Number of refugees from Ukraine in selected countries as of 31.10.2024

Number of refugees from Ukraine in selected countries as of 31.10.2024

Source: Open4Business.com.ua

Ukraine reduced tractor imports by 34% in early 2025

Imports of tractors to Ukraine in January this year amounted to $43.87 million, which is 34% less than in the same month in 2023, according to statistics from the State Customs Service.

According to the statistics released by the agency, tractors were mainly imported from China (21.2% of total imports of this equipment, or $9.3 million), Germany (5.5%, or $12.4 million), and the United States (10.7%, or $4.7 million), while a year earlier it was Poland (19.5%), Germany (19.3%), and the Netherlands (11%).

According to the statistics, in January, tractors were exported for $0.56 million against $0.3 million a year earlier, mainly to Zambia (41.4%), Romania (36.2%), and the Czech Republic (14%).

Imports of tractors to Ukraine in 2024 amounted to almost $784 million, down 5.6% from a year earlier, while exports amounted to $5.44 million against $5.74 million.

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Consumption of rolled steel in Ukraine increased 2.16 times in January

In January this year, Ukrainian enterprises increased their consumption of rolled metal products by 2.16 times compared to the same period last year, up to 297.1 thousand tons.

According to a press release from Ukrmetallurgprom, 103 thousand tons, or 34.67% of the domestic rolled metal consumption market, were imported during this period.

According to Ukrmetallurgprom, in January, steelmakers produced 480.2 thousand tons of rolled steel (up 7.2% year-on-year), of which, according to the State Customs Service of Ukraine, approximately 286.1 thousand tons, or 59.6%, were exported. In January 2024, the share of exports amounted to 88.4% (400.3 thousand tons with a total production of 453 thousand tons of rolled steel).

The share of semi-finished products in export deliveries in January 2025 was 28.21%, which is half the figure for January 2024 (55.65%). The share of flat products in export deliveries in January this year significantly exceeded the same period last year – 54.35% and 33.55%, respectively. The share of long products is also significantly higher this time: 17.44% in January 2025 compared to 10.80% in the same period in 2024.

The structure of imports in January 2025 is still characterized by a significant dominance of flat products over long products (86.50% and 10.78%, respectively); in January 2024, the dominance of flat products over long products was also significant (83.90% and 15.16%, respectively).

“In January 2025, the domestic market capacity amounted to 297.1 thousand tons of rolled steel, of which 103 thousand tons, or 34.67%, were imported. In January 2024, the domestic market capacity was 137.8 thousand tons, of which 85.1 thousand tons, or 67.76%, were imported. Thus, in January 2025, there was an increase in the domestic market capacity by 115.61% compared to January 2024, while the share of the import component decreased by 27.09%,” the press release states.

According to the State Customs Service, the main export markets for Ukrainian rolled metal products in January 2025 are the European Union (69.6%), the rest of Europe (12.4%) and Africa (7.7%).

Among metallurgical importers in January 2025, the first place is occupied by other European countries (61.3%), followed by the EU-27 (24.7%), and the third – by Asian countries (13.8%).

As reported, Ukraine’s rolled steel market in 2024 decreased by 6.26% year-on-year to 3 million 288.4 thousand tons, while in 2023 it increased 2.19 times compared to 2022 to 3 million 505.6 thousand tons.

German robot manufacturer ARX Robotics opens office in Ukraine

The German defense tech company has opened an office in Ukraine and plans to transfer part of its production and development processes to the Ukrainian office, said Oleksandr Borniakov, Deputy Minister of Digital Transformation for IT Development.

“European robot manufacturer ARX Robotics has opened an office in Ukraine and joined Diia City. This is a German defense tech company that creates autonomous robots for use in both military and commercial areas,” Borniakov wrote on Facebook on Wednesday.

According to him, ARX Robotics plans to transfer part of its production and development processes to the Ukrainian office.

He emphasized that the company’s accession to Diia.City is one of the strategic and important decisions for the company’s full entry into the Ukrainian market.

According to Mr. Borniakov, ARX Robotics’ developments are known all over the world, and in the near future they will be used by the Ukrainian military.

As an example of ARX Robotics’ developments, the Deputy Minister mentioned GEREON RCS, a multipurpose tracked modular platform that delivers food and ammunition and evacuates the wounded.

ARX Robotics is a German company founded in 2022 that specializes in the development of autonomous modular unmanned ground systems and advanced digital solutions for military and commercial applications. Among its well-known developments is the Mithra OS, an independent operating system based on artificial intelligence that turns military vehicles into smart, interconnected and autonomous units.

In May 2024, ARX Robotics entered into a strategic partnership with Quantum Systems to jointly develop unmanned systems aimed at supporting Ukraine and introducing technological innovations.

Imports of passenger cars to Ukraine decreased by almost 18% in January

In January 2025, imports of passenger cars, including cargo and passenger vans and racing cars (UKT FEA code 8703), decreased by 17.8% in monetary terms compared to January last year to $333.97 million.

According to customs statistics released by the State Customs Service of Ukraine, the top three countries from which cars were imported were Germany, the United States and Japan.

In particular, imports of cars from Germany increased by 39.6% to $74.64 million, and their share in the structure of car imports amounted to 22.35% against 13.15% a year earlier.

Cars from the United States were imported for $62.51 million (12% less); from Japan, which last year was not among the top three countries with the largest car imports, they were imported for $41.71 million.

At the same time, China was not among the top three in January 2025, with imports from it amounting to $70.7 million in January last year (second place after the United States).

In general, imports of passenger cars from other countries amounted to $155.11 million in January 2025, while a year earlier it was $211.35 million.

At the same time, last month, Ukraine exported such vehicles for $1.09 million, while a year earlier – for $0.76 million, in particular, 90.5% of exports were to the UAE, 3.78% – to Germany, 3.13% – to Moldova, while in January-2024 it was Canada (52.4%), the United States (26.8%) and Germany (7.2%).

As reported, in 2024, Ukraine imported passenger cars worth $4.385 billion, 8% more than a year earlier, and exported $10.1 million (2.7 times less).

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