The international vertically integrated pipe and wheel company Interpipe reduced its net profit by 16.6% year-on-year in January–June 2025, to $107.357 million from $128.740 million.
According to the company’s interim report, profit before tax decreased by 12.1% to $142.643 million, while operating profit dropped by 17.6% to $142.227 million. Revenue grew by 6.8% to $572.267 million.
At the end of June 2025, cash and equivalents totaled $263.166 million (compared to $292.093 million a year earlier).
Revenue from the pipe segment amounted to $436.844 million ($388.949 million in H1 2024), from the railway product segment – $122.252 million ($127.159 million), and from the steel segment – $170.643 million ($180.498 million).
Operating profit in these segments reached $78.289 million, $17.750 million, and $46.359 million respectively.
EBITDA for the pipe segment totaled $85.101 million ($50.856 million), railway products – $25.741 million ($25.347 million), steel – $54.884 million ($54.259 million), with total company EBITDA at $165.557 million ($130.273 million).
In 2024, Interpipe increased its net profit by 10.9% to $280.479 million and profit before tax by 12.2% to $327.191 million. Operating profit fell by 6% to $337.047 million, while revenue rose by 6.2% to $1.05 billion.
Cash at year-end 2024 amounted to $285.504 million (vs. $247.473 million in 2023).
Interpipe is a Ukrainian industrial company producing steel pipes and railway products. Its goods are supplied to over 50 countries. In 2024, the company paid UAH 5.5 billion in taxes.
Its structure includes five industrial facilities: Interpipe NTRP, NMTZ, Niko-Tube, Dnipromet, and the DniproSteel electric steelmaking complex.
The company employs about 9,500 people.
The ultimate owner of Interpipe Limited is Ukrainian businessman and philanthropist Viktor Pinchuk and his family.
Due to the full-scale war, the mining and metallurgical group Metinvest reduced its annual revenue from $10-12 billion to $5-6 billion, while remaining a profitable company, its CEO Yuriy Ryzhenkov said in an interview with the British newspaper The Times.
The war has significantly affected the financial performance of Metinvest, which sells a significant portion of its metal products in Ukraine and exports iron ore, flat-rolled products, and semi-finished products to 51 countries, including China, India, and the US.
According to Ryzhenkov, “before the war, the business usually had an annual income of $10-12 billion, and now this figure is around $5-6 billion. Despite this, the company remains profitable, and the CEO considers the impact of Trump’s tariffs to be insignificant.”
At the same time, it is noted that Metinvest’s largest enterprises were bombed and put out of operation, including the Mariupol metallurgical plants, which were one of the first battlefields. Metinvest’s revenue has halved, and its workforce has shrunk to around 50,000. Tens of thousands of people have lost their jobs at the group’s enterprises; 8,000 are now serving in the Armed Forces, and 764 employees have been killed.
Despite these losses, top management has managed to keep those who remained in the company motivated. Metinvest is one of the largest private donors to the Ukrainian army, and its steel is used for shelters and military equipment.
“Employees feel that they are part of the resistance. And they are proud of it,” said the CEO.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine—in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions—as well as in the European Union, the United Kingdom, and the United States. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
Population forecast for Ukraine in 2030-2100
Source: Open4Business.com.ua
Ukrainian online pet retailer Pethouse will open its first physical store in Kyiv on October 4, the company’s press service reported.
It is noted that investments in the opening of the store exceeded UAH 10 million.
The store, located at 44a Anna Akhmatova Street, has an area of 72 square meters. The assortment includes about 3,000 products. The retail facility is equipped with an autonomous power supply system in case of blackouts, the company said.
By the end of 2025, Pethouse plans to open several more stores in the capital, and in 2026, it is considering further scaling of the chain in Kyiv and other cities.
Pethouse has been operating in the pet products market since 2010 and was previously represented only by an online store. The range includes more than 13,000 products for pets from 338 brands. The company is also a co-organizer and general sponsor of the first AdoptMe Days pet adoption festival.
According to Opendatabot, the owners of Ukrzogroup LLC, which operates the Pethouse online store, are Vladimir Kryzhanovsky (78.9%) and Vladimir Tarnopolsky (21.1%). At the end of 2024, the company increased its revenue by 55% compared to 2023, to UAH 1.1 billion, and doubled its net profit to UAH 41.1 million.
According to Serbian Economist, the largest resort hotel project in the region, Carine Resort in Baosici, is being built in Montenegro and will welcome its first guests in June 2026.
The new 5-star resort will include about 800 rooms on the coastline in Baosici, municipality of Herceg Novi.
The infrastructure will include restaurants, a wine boutique, a beer garden, an à la carte café, indoor and outdoor swimming pools, a ~1,000 m² spa center, an event hall for 500 people, an entertainment area, and an indoor park.
The opening is scheduled for summer 2026.
The project is positioned as the largest in Montenegro and the region, making it a significant bet on strengthening the country’s tourism potential.
In 2024, the country welcomed 2,606,854 tourists, who made 15,594,299 overnight stays. At the same time, 96.1% of overnight stays were made by foreign tourists.
The main countries of origin of tourists are Serbia (23.5%), Russia (18.3%), Bosnia and Herzegovina (8.4%), Turkey (4.9%), Germany (4.7%), Ukraine (4.3%), and the United Kingdom (3.8%).
Source: https://t.me/relocationrs/1513
The Ministry of Education and Science of Ukraine has completed the state certification of higher education institutions and scientific institutions in the fields of agricultural, veterinary, and social sciences using a new method of assessing scientific effectiveness, according to Vladimir Khaustov, an expert at the Experts Club information and analytical center and scientific secretary of the Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine, in a blog posted on the Interfax-Ukraine news agency website.
According to him, for the first time, not only institutions as a whole were evaluated, but also individual scientific departments — a step that should “truly support the strongest teams and stimulate real competition in Ukrainian science.”
“Without funding for science, there is no future. We are rich not because we have money, but because we fund science,” Khaustov recalled, quoting Ronald Reagan.
He noted that the new certification methodology “is not perfect, but necessary.” Among the positive changes, the expert mentioned the division by scientific fields and the attempt to introduce quantitative indicators. However, according to him, the consolidation of scientific groups (for example, combining all social sciences — economics, history, sociology — into one category) creates methodological distortions.
“The formula should take into account the specifics of the disciplines, and the weighting coefficients should be differentiated. Now, much of it has been reduced to arithmetic, which does not reflect the real contribution of scientists,” the expert emphasized.
Among the problems, Khaustov highlighted excessive bureaucracy in filling out reports and the lack of data automation:
“All indicators are entered manually, although publications and patents are already in the DNTB and UkrNOIVI databases. We proposed creating an automated system called ”Science of Ukraine,“ which would collect data itself, but so far everything is done manually.”
He also drew attention to the imbalance between the evaluation of domestic and foreign publications, as well as the underestimation of national grants and scientific achievements.
“Three hryvnia of Ukrainian funding is equivalent to one hryvnia of foreign funding. And seven out of eleven indicators relate to publications abroad. This distorts the real picture and devalues national achievements,” he said.
According to the expert, the methodology needs to be refined to take into account the specifics of the industry and the real working conditions of Ukrainian researchers.
“Science is not a formula or a table. It is people, ideas, and the future of the country,” concluded Volodymyr Khaustov.
The full version of the expert’s video is available on the Experts Club channel:
Experts Club is an independent platform for analytical videos and research. The center regularly publishes expert reviews on economics, science, and business, bringing together the opinions of leading analysts, scientists, and business representatives.
