Business news from Ukraine

Business news from Ukraine

“Naftogaz” increased its profit by 64% to almost UAH 38 bln in 2024

In 2024, Naftogaz Group received almost UAH 38 billion of net consolidated profit, which is UAH 15 billion, or 64% more than in 2023.

“All key business areas have shown growth: gas production, transportation and storage, sales and distribution, and electricity and heat sales,” the company said on Thursday.

At the same time, the group’s gross profit for 2024 increased to UAH 89.1 billion compared to UAH 48.5 billion in 2023. At the same time, the operating profit for 2024 amounted to UAH 51.1 billion, which is almost UAH 13.3 billion, or 32% more than the same indicator for the previous period.

The results of Naftogaz’s operations were confirmed by an independent international audit by KPMG.

“Amidst the war, we guarantee energy stability and at the same time strengthen the country’s financial stability. I thank every employee of the group for this result,” said Roman Chumak, CEO of Naftogaz Group.

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Real wages, level (logarithms)

Real wages, level (logarithms)

Source: Open4Business.com.ua

Vodafone Ukraine to pay UAH 702 mln in dividends for 2024

Ukraine’s second largest mobile operator, Vodafone Ukraine (VFU), has decided to pay its shareholders an annual dividend of UAH 702 million for 2024 on its ordinary shares.

The relevant decision was made by the shareholders of VF Ukraine at the annual general meeting on April 24, 2025, the company reported on its website.

The amount of dividends per ordinary share of the company is UAH 0.90 (ninety kopecks).

The payment will be made by October 24, 2025.

In 2023, the company paid UAH 1.81 billion in dividends to Telco Solutions and Investments LLC and UAH 18.28 million to PPT Telecom Kyiv.

The company’s financial report for 2024, published in early April, stated that it would not pay dividends to shareholders in 2024.

As reported, in 2024, Vodafone Ukraine increased its revenue by 13.1% to UAH 24.44 billion, while reducing its profit by 30.1% to UAH 3.54 billion.

“Vodafone Ukraine is Ukraine’s second largest mobile operator providing 4G broadband, fixed-line and internet services. Vodafone’s investments in the period of active construction of high-speed networks in 2015-2024 reached UAH 48.5 billion. Vodafone services are used by 15.8 million customers in Ukraine. Since December 2019, Vodafone Ukraine has been part of NEQSOL Holding.

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“INGO” pays UAH 34.4 mln for claydite plant set on fire

INGO Insurance Company (Kyiv) has paid out an insurance indemnity of UAH 34.4 million under the insurance contract for the industrial complex of Ukrainian Ceramic Technologies LLC, a manufacturer of building ceramic blocks, the company reports.

It is noted that a large-scale fire destroyed a significant part of the company’s production facilities in the Kyiv region. The company’s preparation, molding, drying, firing, packaging, and warehouse facilities were damaged. Process equipment was also severely damaged. According to the investigation, the fire was caused by an unauthorized person. Compensation was paid in April 2025.

“For such a large-scale insurance event – with the involvement of experts, appraisers, as well as an investigation within criminal proceedings – the settlement of a little more than a year is actually very prompt,” said Oleg Suprunyuk, Head of the Loss Adjustment Department of Aston Brokerage, who accompanied the insurance process and whose words are quoted in the press release.

It is noted that after the incident, the insurance company, together with the broker and independent experts, promptly inspected the facility, recorded the circumstances of the incident, organized a technical examination of the damaged equipment and assessed the damage. Thanks to the coordinated work of all parties, we managed to agree on the amount of compensation and ensure its payment in full.

According to the National Bank of Ukraine, INGO holds the first place in terms of insurance premiums among legal entities in the property, cargo and health insurance segments.

In 2024, the volume of premiums raised by the insurer in this area increased by 24.6% to UAH 2.4 billion, while payments to corporate clients reached UAH 1.15 billion.

INGO Insurance Company holds licenses for 18 classes of insurance and has been providing insurance services to both individuals and companies for 30 years. Its network includes 25 branches, 5 offices and 9 customer service centers operating in all regions of the country. The company is one of the largest insurance companies in Ukraine in terms of premiums, own assets and insurance claims.

Since 2017, the main shareholder is the Ukrainian business group DCH.

“Zaporozhkoks” cuts coke production by 1.8% in January-April

Zaporozhkoks, one of Ukraine’s largest coke producers and a member of Metinvest Group, reduced blast furnace coke production by 1.8% year-on-year to 281.8 thousand tons from 286.9 thousand tons in January-April this year.

According to the company, in April, it produced 72.06 thousand tons of coke, while in the previous month – 74.1 thousand tons, in April-2024 – 72.15 thousand tons.

As reported, Zaporozhkoks increased its blast furnace coke production by 2.1% in 2024 compared to 2023, up to 874.7 thousand tons from 856.8 thousand tons.

“In 2023, Zaporozhkoks increased its blast furnace coke output by 16% compared to 2022, up to 856.8 thousand tons from 737.4 thousand tons.

“Zaporozhkoks produces about 10% of coke in Ukraine and has a full technological cycle of coke products processing. It also produces coke oven gas and pitch coke.

“Metinvest is a vertically integrated mining group of companies. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage the company.

Metinvest Holding LLC is the management company of Metinvest Group.

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Julia Davis appointed new US ambassador to Ukraine

Julia Davis has been appointed the new ambassador of the United States to Ukraine, US State Department spokesperson Tammy Bruce announced during a briefing on Thursday.

Davis is currently serving as the US ambassador to the Republic of Cyprus.

Prior to her appointment as ambassador to Cyprus, Julia Davis served as Special Envoy for Belarus in Vilnius, Lithuania.

In 2020, she was confirmed as the first US ambassador to the Republic of Belarus since 2008. Previously, Davis served as deputy assistant secretary of state for Western European and European Union affairs in the Bureau of European and Eurasian Affairs, as well as deputy permanent representative of the US Mission to NATO.

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