PJSC Kryukovsky Carriage Works (KVSZ, Poltava region) received UAH 81.08 million in net profit in 2024, while a year earlier the loss amounted to UAH 143.76 million, according to the agenda of the company’s annual general meeting of shareholders scheduled for April 21.
“According to the results of the company’s financial and economic activities in 2024, the profit amounted to UAH 81 million 082 thousand 307. Taking into account the income from the revaluation of actuarial liabilities, according to the calculation of an independent actuary, in the amount of UAH 9.642 million, to approve the total profit for 2023 in the amount of UAH 90 million 724 thousand 307,” the draft decision of the meeting states.
The profit is planned to be used to pay off losses for previous years, and no dividends will be accrued or paid.
According to the National Securities and Stock Market Commission (NSSMC), as of the third quarter of 2024, Estonian AS Skinest Finants and Osauhing Delantina own 25% of the shares of PJSC “KVSZ”, and Transbuilding Services Limited, registered in England, owns 20%.
At the same time, the list of shareholders includes Austrian OW Capital Management GmbH (controlled by Russian citizen Gamzalov) as the owner of 25% of the shares.
As reported, by a court decision of July 13, 2022, this stake was transferred to the National Agency for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA), and in April 2023, it announced a competitive selection of a manager for this stake.
KVSZ lists its main owner as the chairman of the supervisory board and president, Volodymyr Prykhodko.
Kryukiv Carriage Works produces passenger and freight cars, regional diesel trains, high-speed interregional locomotive trains, spare parts and bogies for freight cars.
In 2024, the plant sold 1,096 thousand freight cars, which is almost 10% more than in pre-war 2021. The first 15 passenger railcars were also delivered to Ukrzaliznytsia under contracts for 66 units.
According to the Clarity-project resource, in 2024, KVSZ’s net income increased by 81% compared to 2023, to UAH 3 billion 767 million.
AB InBev Efes Ukraine (Kyiv) reduced its net loss by 26.1% to UAH 600.335 million in 2024, according to the agenda of the general meeting to be held remotely on April 11.
According to the published information, the shareholders plan to cover the losses at the expense of the company’s additional capital.
The shareholders are also proposed to approve the report of the company’s board of directors for 2024 and take into account the conclusions of the audit report for 2024.
According to the Opendatabot service, the company increased its revenue by 16.9% to UAH 5.451 billion in 2024, and its liabilities by 1.7 times to UAH 3.424 billion. At the same time, the company’s assets decreased by 2.4% to UAH 5.185 billion, and the number of employees decreased by 128 people to 1,088.
As reported, the shareholder structure of Abinbev Efes Ukraine was to change as part of the restructuring of the joint business of AB InBev and Anadolu Efes, which was explained by the Belgian company’s desire to leave the Russian market. Initially, it was planned that Anadolu Efes would buy out ABI’s entire stake in their joint venture AB InBev Efes B.V., which includes breweries in Ukraine and Russia, as announced in December 2023. However, Russia blocked the deal. As a result, the companies agreed on a different scenario in October 2024: Anadolu Efes will acquire AB InBev’s stake in the Russian business, and AB InBev will acquire Anadolu Efes’ stake in the Ukrainian business.
In December 2024, the Antimonopoly Committee of Ukraine granted a permit to AB InBev Western European Holding B. V. (Breda, the Netherlands) to acquire Abinbev Efes Ukraine PrJSC. The AMCU also allowed Efes Breweries International B.V., a member of the international Anadolu Efes group, to obtain sole control over AB InBev Efes B.V.
AB InBev Efes is one of the leaders in the Ukrainian brewing market, a joint venture of the world’s largest brewer Anheuser-Busch InBev and Turkey’s largest brewer Anadolu Efes.
The portfolio of beer brands consists of global (Bud, Corona Extra, Stella Artoi), international (Hoegaarden, Leffe, Beck’s, Lowenbrau, Franziskaner, Spaten, Velkopopovickiy Kozel) and local (Chernihivske, Rohan, Yantar) brands.
In 2023, Abinbev Ephesus Ukraine suffered serious losses of UAH 811 million with a turnover of UAH 4.6 billion. In the first year of the full-scale invasion, the company’s performance dropped from UAH 2.2 billion in revenue to UAH 2.1 billion in losses. The reason for this was damage to the company’s plants in Chernihiv, Mykolaiv and Kharkiv as a result of the hostilities.
Communal enterprise “Cherkassyvodokanal” of Cherkassy city council on March 20 announced a tender for services of compulsory insurance of civil liability of owners of motor vehicles (OSAGO).
As reported in the system of electronic public procurement Prozorro, the expected cost -446,707 thousand UAH.
Documents are accepted until March 28.
One of the largest grain market operators in Ukraine, Nibulon JV LLC, is entering new markets in the Middle and Upper Danube, expanding its operations in the region and offering a full cycle of grain and metal exports, as well as cargo transportation of all types of goods via the Danube, the grain trader’s press service reported on Facebook.
The agricultural holding reminded that the first steps in the Middle and Upper Danube markets were voyages with metal products on the routes Izmail – Lom (Bulgaria) and Izmail – Smederevo (Serbia), which were carried out by the tugs Pereyaslavsky and Kozatsky using barges of its own production. These shipments confirmed the company’s readiness to work efficiently with various categories of cargo, opening up new business opportunities in Bulgaria, Serbia, Romania and other countries in the Danube region.
“Our fleet is capable of transporting various types of cargo, and this is just the beginning. We offer comprehensive solutions to the Balkan business: grain exports combined with our logistics on the Danube to Constanta, as well as river transportation of any goods between the ports of the region,” said Sergey Kalkutin, Nibulon’s Logistics Director.
Nibulon assured that expansion to the Middle and Upper Danube is part of the agricultural holding’s long-term strategy aimed at developing international river logistics.
Currently, the agricultural holding is ready to offer a competitive alternative to traditional ways of supplying grain and other cargoes. This includes grain exports to 75 countries using its own river fleet, cargo transportation on the Danube for the agricultural, metallurgical and construction sectors, and flexible terms of cooperation: DAP, EXW, FCA, FOB, real-time online cargo tracking, international experience and reputation as a reliable partner.
“Thanks to its own modern fleet and efficient logistics, Nibulon guarantees stable and safe transportation on the Danube, which opens up access to new markets,” the agricultural holding emphasized.
Nibulon JV LLC was established in 1991. Prior to the Russian military invasion, the grain trader owned 27 transshipment terminals and crop reception complexes, facilities for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Currently, the grain trader is operating at 32% of capacity, has set up a special unit to clear agricultural land of mines and had to move its headquarters from Mykolaiv to Kyiv.
BULGARIA, CARGO TRANSPORTATION, Danube, NIBULON, ROMANIA, SERBIA
In 2024, Ukraine demonstrated an increase in foreign trade, but there are still problems that limit its opportunities in international markets. The lack of a sufficient number of enterprises with deep processing, complex logistics, and the impact of global economic processes pose serious challenges for Ukrainian business.
Maksym Urakin, founder of the Experts Club information and analytical center, and Yevheniia Lytvynova, president of the Ukrainian Exporters Club, analyzed the trends of 2024 and assessed the development prospects for 2025.
Trade balance: export growth but large deficit
According to experts, the total volume of Ukraine’s foreign trade in 2024 reached USD 113 billion, which is 13% more than in 2023.
Key figures:
Despite the growth in exports, the main problem remains a significant trade deficit. This indicates that the economy is dependent on imports, which puts additional pressure on the hryvnia exchange rate and requires finding new solutions to increase exports of high value-added products.
“Despite the positive dynamics of exports, Ukraine is still dependent on imports, especially in the field of technology and equipment. The negative balance remains a serious challenge for our economy,” said Yevheniya Lytvynova.
Main trading partners: Poland, Spain, Germany
Experts Club has compiled a list of Ukraine’s top 10 trading partners in terms of exports:
1. Poland – 4.7 billion dollars
2. Spain – 2.9 billion dollars
3. Germany – 2.8 billion dollars
4. China – 2.3 billion dollars
5. Turkey – 2.1 billion dollars
6. The Netherlands – 1.98 billion dollars
7. Italy – 1.93 billion dollars
8. Egypt – 1.6 billion dollars
9. India – 986 million dollars
10. Moldova – $935 million
“In 2024, Spain unexpectedly ranked second among importers of Ukrainian products. This is partly due to the high demand for Ukrainian products due to the migration of Ukrainians. However, it should be borne in mind that a significant portion of these exports is re-exported via European countries,” explained Maksym Urakin.
At the same time, China has traditionally been in the lead among Ukraine’s top 10 importers:
1. China – $14.4 billion
2. Poland – $7 billion
3. Germany – 5.4 billion dollars
4. Turkey – 4.72 billion dollars
5. USA – 2.86 billion dollars
6. Italy – 2.27 billion dollars
7. Bulgaria – 2.22 billion dollars
8. India – 1.88 billion dollars
9. Czech Republic – 1.78 billion dollars
10. France – 1.75 billion dollars
Export structure: Ukraine remains a supplier of raw materials
Food products account for the largest share of exports – about $25 billion. Other main products include metals (about $5 billion) and equipment ($4 billion).
“Ukraine continues to export mostly raw materials. This means that the main profit from processing and added value remains abroad. We need reforms that will allow us to develop domestic production and processing,” emphasized Yevheniya Lytvynova.
Import structure: machinery, chemicals, fuel
In 2024, the largest categories of imports were machinery and equipment ($25 billion), chemicals ($11.7 billion), and energy ($8.9 billion).
“The main share of imports is aimed at supporting business rather than the consumer market. This means that companies are actively upgrading production and importing machinery,” explained Maksym Urakin.
New markets: opportunities and obstacles
In 2025, many Ukrainian companies are planning to enter the markets of the Middle East, Africa and Asia more actively. In particular, a free trade agreement is expected to be signed with Turkey, which will make the country an even more important trading partner.
“Turkey is already one of Ukraine’s top five partners. If the FTA is ratified, we will see an even greater increase in trade turnover,” emphasized Yevgeniya Lytvynova.
At the same time, global protectionism and trade wars may create additional challenges. The United States has already begun to impose new duties on imports from Canada, Mexico and China.
“If the US imposes additional duties, it could lead to a chain reaction in global trade, and price increases will affect even Ukraine. Our companies should be ready to adapt to the new realities,” said Maksym Urakin.
What should Ukrainian businesses do?
When it comes to the main recommendations for exporters in 2025, the experts identified the following areas:
1. It is necessary to diversify markets by balancing exports to the EU with the simultaneous development of the Middle East, Asia and Africa.
2. Develop processing by reducing exports of raw materials and expanding sales of high value-added products.
3. Increase competitiveness by adapting production to the requirements of foreign markets.
4. Preparing for changes in global trade by adapting the strategy in response to possible duties and trade barriers.
“We have to learn to play by the rules of global competition. If Ukrainian exporters are not ready for changes, the market will be quickly taken over by someone else,” summarized Yevgeniya Lytvynova.
You can learn more about Ukraine’s foreign trade in 2024 in the video: https://www.youtube.com/watch?v=tFxad1mplE0&t
You can subscribe to the Experts Club channel here: https://www.youtube.com/@ExpertsClub
ECONOMY, EXPERTS CLUB, EXPORTERS CLUB, EXPORTS, IMPORTS, TRADE, URAKIN, ЛИТВИНОВА
