Business news from Ukraine

Business news from Ukraine

Express Insurance increased its premium income by 63% in December 2025

Express Insurance (Kyiv) collected insurance premiums totaling UAH 148.9 million in December 2025, which is 63% more than in the same period of 2024, according to the insurer’s website.

Premiums under CASCO contracts for this period amounted to UAH 88.4 million, which is 32.3% higher than in December 2024, while premiums under MTPL reached UAH 58.7 million (+159.6%), and premiums under other types of insurance amounted to UAH 2 million.

Express Insurance was founded in 2008 and is part of the UkrAVTO group of companies. It specializes in auto insurance. The consistently high speed of settlement of claims at the insurance company is ensured by optimal interaction with partner service stations.

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Varus supermarket chain increased its turnover by 20% in 2025, to UAH 28.8 bln

The national supermarket chain Varus increased its turnover by almost 20% in 2025, to UAH 28.8 billion, according to a press release on Tuesday, reported by Interfax-Ukraine.

It is noted that the number of stores increased by seven, or 6.3%, to 118.

The company noted that in July 2025, it decided to spin off the Varus.ua business line to implement a new e-commerce strategy and achieved a 97.2% increase in its turnover over the past year. By the end of 2025, the number of users of the mobile app reached about 500,000.

According to the release, the company is implementing a large-scale energy program to install nearly 4,000 solar panels at its network facilities, which will allow stores to cover up to 95% of their energy needs in the summer. The project is expected to pay for itself in approximately two years and will save about UAH 50 million annually.

“The plans for 2026 include equipping 18 more facilities with solar power plants. In addition, all stores in the chain are equipped with generators to ensure uninterrupted operation during power outages,” the release said.

Among the main results of last year was also the receipt in July of the first tranche of a loan from the European Bank for Reconstruction and Development (EBRD) — almost UAH 630 million for the development of the network, increasing business sustainability, and implementing energy-efficient solutions, of which about UAH 30 million went to the opening of its own distribution center (DC) in Dnipro.

In addition, another distribution center was launched in Odesa, and the energy independence of the entire logistics network was strengthened.

Other achievements include the automation of the full cycle of invoices through eDoc, the connection of 80% of suppliers to the system, and a 3.5-fold increase in the volume of electronic invoices over the year.

Varus also specified that it employs more than 8,000 people, and in 2025, the chain invested about UAH 60 million in social initiatives.

Varus is a national supermarket chain represented on the Ukrainian food retail market by Omega. The first store was opened in 2003 in Dnipro. The chain operates in several formats: classic supermarkets, To Go stores, and the Varus.ua online store.

According to Opendatabot, Omega LLC is owned by Cyprus-based Veigant Enterprises Limited. Valery Kiptik and Ruslan Shostak are listed as the ultimate beneficiaries.

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Zaporizhstal increased rolled steel production in January 2026 despite war

In January this year, the Zaporizhstal steel plant in Zaporizhia increased its rolled steel output by 0.3% compared to the same period last year, from 215,000 tons to 215,700 tons.

According to its press release on Tuesday, steel production for the first month of this year amounted to 234,400 tons (in January 2025 – 243,000 tons), and pig iron – 249,900 tons (287,700 tons).

In December 2025, Zaporizhstal produced 314 thousand tons of pig iron and 278.5 thousand tons of steel. A total of 251,400 tons of rolled products were shipped, compared to 309,100 tons of pig iron, 273,200 tons of steel, and 251,300 tons of rolled products in the previous month.

As noted in the company’s interim report for the fourth quarter of 2025, despite Russia’s full-scale invasion of Ukraine, the plant continued to maintain stable operations while fulfilling its business responsibilities to shareholders and stakeholders. Efforts were focused on maintaining high standards of production and stability in all aspects of the company’s operations. The company actively worked on the development and implementation of strategic initiatives aimed at increasing efficiency, improving product quality, and raising the level of environmental safety.

During the reporting period, Zaporizhstal continued to produce products, and production and technological equipment for the full metallurgical cycle was put into operation at a level of about 70-80% of maximum production capacity, and this level was considered stable in the foreseeable future. Assuming that there will be no significant deterioration in the situation, management expects the company to continue production at the current level and, subject to improvements in product delivery logistics, to increase production volumes in the future.

At the same time, as of the reporting date, it is difficult to predict the duration and scale of the war in Ukraine and its consequences, such as damage to infrastructure, constant power outages against the backdrop of rising electricity prices, changes in logistics chains, and supply risks, etc., indicate the existence of significant uncertainty that could cast significant doubt on the company’s ability to continue as a going concern, and therefore it may not be able to realize its assets and settle its liabilities in the normal course of business. However, management believes that the most likely scenario is a gradual improvement in the situation and continued recovery in Ukraine, which will allow for increased operations and free access to Black Sea ports, the report says.

As reported, in 2025, Zaporizhstal increased its rolled steel output by 15.2% compared to the previous year, to 2 million 794.6 thousand tons from 2 million 426.7 thousand tons. Steel production amounted to 3 million 212.2 thousand tons (in 2024 – 2 million 890.8 thousand tons), pig iron – 3 million 567.8 thousand tons (3 million 106.3 thousand tons).

In 2024, Zaporizhstal increased its rolled steel output by 18.1% compared to 2023, to 2 million 426.7 thousand tons from 2 million 54.7 thousand tons, and steel output by 17.2%, to 2 million 890.8 thousand tons, and pig iron by 14.2%, to 3 million 106.3 thousand tons.

In 2023, Zaporizhstal increased its rolled steel production by 57.2% compared to 2022, to 2 million 54.7 thousand tons, steel by 65.4%, to 2 million 466.9 thousand tons, and pig iron by 35.3%, to 2 million 718.9 thousand tons.

Zaporizhstal is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.

Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.

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Lviv Locomotive Repair Plant increased production by 24% in 2025

The Lviv Locomotive Repair Plant (LLRP), part of Ukrzaliznytsia, increased its production volume by 24.2% in 2025 compared to 2024, to UAH 1 billion 026 million.

According to information in the plant’s interim management report, published in the disclosure system of the National Securities and Stock Market Commission, last year’s production plan was UAH 1 billion 254 million, i.e., it was fulfilled by 82%, while in 2024, 85% of the plan was fulfilled.

As reported, in 2025, the plant planned to repair 17 locomotives compared to 16 in 2024, as well as increase the repair of traction motors and their anchors by 30% to 495 units, and auxiliary electric machines by 19.2% (or 30 units) to 186 units.

At the same time, the production plan for the repair of wheel sets was 450 units, compared to 556 units repaired the year before last.

Founded in 1861, LLRZ is now a large Ukrainian enterprise for the repair of electric locomotives, traction motors, and wheel sets.

As reported, in 2024, the plant increased its net profit by 55% compared to 2023, to UAH 24 million, and its net income by 39%, to UAH 827.7 million.

At the beginning of 2025, the plant employed 846 people (599 of whom were men).

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Shareholders of Salivonka Sugar Factory to meet at end of February

Salivonka Sugar Factory, PJSC plans to hold a general meeting of shareholders on February 24, 2026 (Tuesday), according to a statement published through the depository system.

According to OpenDataBot, the company was registered in 1996, specializes in sugar production, and is located in the Kyiv region (Kovalivka village). Its authorized capital is UAH 10.65 million, and its director is Ruslan Tarasyuk.

The controlling stake (64.00288%) belongs to PSP “Agrofirma ”Svitanok” – this was reported in a public offer sent to shareholders after the acquisition of control. The document also states that the ultimate beneficiary of Agrofirm Svitanok is Andriy Zasukha, and Anatoliy Zasukha directly owns 10.0059% of the plant’s shares.

Source: https://www.fixygen.ua/news/20260203/salivonkivskiy-tsukroviy-zavod-provede-zbori-aktsioneriv-24-lyutogo.html

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Imported cheeses already account for 45% of Ukrainian market and may displace domestic producers

The share of imported cheeses on the Ukrainian market in 2025 has grown from 38% to 45% and continues to increase. If the situation does not change, Ukrainian producers will have less than half of the market by March-April 2026, according to the Ukrainian Dairy Industry Association (UDIA).

“The current trend in the cheese market poses a threat to Ukraine’s food security and requires an immediate response from the government. If, for political reasons, anti-subsidy investigations against EU producers, primarily Poland, have no prospects, it is worth focusing on intensifying state support for Ukrainian producers,” said Arsen Didur, executive director of the UDAU.

The industry association noted that imports of rennet cheese to Ukraine last year increased by 13% compared to 2024, to 32.9 thousand tons, in particular, 15.8 thousand tons (+14%) of hard cheese were imported.

The SMU sent a proposal to the government to increase compensation under the National Cashback program for Ukrainian-produced cheese from 10% to 20%. At the same time, it is proposed to reduce or cancel compensation for other dairy products that do not face such fierce competition from imports.

As reported, Minister of Economy, Environment, and Agriculture Oleksiy Sobolev announced in January that in 2026, the Cabinet of Ministers would reduce funding for the National Cashback program. As of February 2026, the state budget allocates UAH 3 billion for this program, compared to UAH 5.7 billion a year ago. Therefore, the government plans to move to targeted support for critically important industries.

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