Business news from Ukraine

Business news from Ukraine

Interpipe NMPS will hold shareholders’ meeting on April 21 and will not distribute its 2025 profits

PJSC “Interpipe Novomoskovsk Pipe Plant” (“Interpipe NMTZ,” Dnipropetrovsk region) reported a net profit for 2025, the amount of which has not yet been disclosed, and does not plan to distribute it.

According to the company’s announcement in the disclosure system of the National Securities and Stock Market Commission (NSSMC) regarding the remote general meeting of shareholders to be held on April 21, the agenda includes determining the company’s main areas of activity for 2026, review the supervisory board’s report and the auditor’s conclusions, and approve the annual financial statements for 2025 and the results of operations for the past year.

Shareholders will also approve the results of the company’s financial and operational activities for 2025 and make a decision regarding the distribution of profits.

In addition, the agenda includes the termination of the powers of the members of the supervisory board and the election of new members.

The draft resolutions, copies of which are available to the Interfax-Ukraine agency, propose defining the implementation of the product sales program and financial performance indicators as the main areas of the company’s activities in 2026. Specifically, the plan calls for shipping products worth UAH 275.524 million and shipping a total of 7,770 metric tons of electric-welded steel pipes. Additionally, the proposals call for establishing cooperation with new suppliers of rolled metal products, increasing the competitiveness of products in key sales markets by expanding the product range, improving quality, reducing production costs, and renewing the certification of the quality management system.

It is also proposed not to distribute the net profit earned in 2025.

As reported, Interpipe NMTZ recorded a consolidated net profit of UAH 111.285 million for the first nine months of 2025, whereas a net loss of UAH 42.472 million was recorded in the same period of 2024. During this period, the plant increased its net revenue by 14.3% to UAH 2,202,863 million. Retained consolidated earnings as of the end of September 2025 amounted to UAH 411,123 million.

“Interpipe NMTZ” ended 2024 with a net loss of UAH 194.831 million, whereas in 2023 it reported a consolidated net profit of UAH 140.327 million.

Interpipe NMTZ specializes in the production of welded pipes for the oil and gas industry, mechanical engineering, construction, and other industrial sectors.

According to the National Securities and Stock Market Commission (NSSMC) data for the fourth quarter of 2025, Interpipe Limited owns 90.8199% of the plant’s shares, and Lindsell Enterprises Limited (registered in Cyprus) owns 6.2918%.

The authorized capital of Interpipe NMTZ PJSC is UAH 50 million, and the par value of a share is UAH 0.25.

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In 2025, Kernel paid 5.7 bln hryvnias in taxes, despite drop in profits

Kernel, one of Ukraine’s largest agricultural holdings and a major taxpayer in the country’s agribusiness sector, paid 5.7 billion UAH in taxes and fees to budgets at all levels in 2025, the company’s press service reported on Thursday.

According to the company’s statement, nearly 2.4 billion UAH went to local budgets, approximately 2.1 billion UAH to the state budget, and 1.2 billion UAH constituted the unified social contribution (USC). In total, since the start of the full-scale invasion, the company has contributed over 19.5 billion UAH to Ukraine’s budgets.

At the same time, according to the company’s financial report, in the first half of fiscal year 2026 (FY, July–December 2025), Kernel reduced its net profit by 33% compared to the same period last year—to $119 million. Consolidated revenue amounted to $1.924 billion, which is 1% less than in the first half of FY 2025, while EBITDA fell by 14% to $247 million.

“The agricultural sector operates under constant pressure from military risks. However, it is important for Kernel to maintain stable payments. Even with declining margins, we continue to provide significant revenue to the budget,” said the company’s CFO, Serhiy Volkov.

The company added that the total losses incurred by enterprises due to Russia’s military aggression over the past year alone are estimated at nearly UAH 135 million. At the same time, since 2022, Kernel has allocated over UAH 4.5 billion to support the Ukrainian Armed Forces and local communities.

Kernel Agricultural Holding is the world’s largest producer and exporter of sunflower oil, Ukraine’s largest grain exporter, an operator of an extensive network of logistics assets, and a leading producer of grain and oilseeds in Ukraine. It is one of the largest producers and sellers of bottled oil in Ukraine. It is engaged in the cultivation and sale of agricultural products.

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Oil Price Growth Pushes Aviation Fuel Higher and Creates Risks for the Summer Tourist Season – Experts Club

The rise in global oil prices has already led to a noticeable increase in aviation kerosene prices, which is putting additional pressure on airlines and may affect ticket prices during the summer tourist season. This conclusion is contained in an analytical commentary by Experts Club. Amid the escalation in the Middle East, Brent on March 18 rose to $108.56 per barrel, and a day earlier exceeded the $100 per barrel mark.

According to IATA, the global average price of aviation fuel for the latest reporting week increased by 11.2% compared to the previous week and reached $175 per barrel. At the same time, in its December forecast IATA assumed the average price of jet fuel in 2026 would be $88 per barrel with Brent at $62, meaning the current market is already more than twice the industry’s baseline scenario.

An additional indicator comes from the U.S. market: according to AP, the average jet fuel price in the United States rose to $3.99 per gallon compared with about $2.50 two weeks earlier. Reuters also notes that jet fuel prices in the U.S. have risen by more than 50%, while in Europe some airlines have already begun adjusting schedules and fares due to higher fuel costs.

As Experts Club analysts note, the market logic is obvious: aviation fuel remains one of the largest cost items for air carriers alongside personnel, so the sharp rise in kerosene prices will almost inevitably be passed through into airfares, especially on long-haul and resort routes. IATA directly states that jet fuel is one of the largest airline cost items, while AP estimates fuel accounts for around 20-25% of carriers’ expenses.

“We are seeing not just an increase in oil prices as a traded asset, but a direct transmission of the price shock into aviation fuel. If oil remains above $100 per barrel and kerosene stays at extremely high levels, airlines will be forced either to raise fares or to cut part of their flight programs. For the tourism market, this means a more expensive and less predictable summer season,” said Experts Club founder and PhD in Economics Maksym Urakin.

According to him, mass tourist routes are especially vulnerable, where carriers operate with thin margins and high price sensitivity of demand. “Even if ticket price growth is uneven, the very factor of expensive fuel changes market behavior: tour operators form packages more cautiously, airlines revise their route networks, and tourists postpone purchases or choose shorter trips. In such a situation, the summer of 2026 may become a season of high volatility – both in prices and in route load factors,” Urakin noted.

Practical signals of this process have already appeared. Reuters reported that SAS decided to cancel about 1,000 flights in April amid the sharp rise in fuel prices, while AP writes that a number of international airlines have already introduced fuel surcharges or raised base fares. This means that if the current market environment persists, the rise in airfare prices may become one of the key pressure factors on the global tourism market in the upcoming summer season.

Van Gogh Exhibition Featuring Virtual Reality Technology Opens in Kyiv

According to the Interfax-Ukraine Culture project, an international immersive exhibition dedicated to the work of Dutch artist Vincent van Gogh will open on April 11 at the VDNG exhibition grounds in Kyiv, the organizers report.

“Visitors will be able to literally find themselves inside Van Gogh’s paintings thanks to large-scale projections, music, and digital technologies,” the organizers note.

The exhibition will be held in Pavilion No. 7 and will run until July 26. It will occupy an area of over 2,000 square meters and combine digital installations, VR effects, and a traditional exhibition showcasing the artist’s life story.

Highlights include a recreated version of the artist’s bedroom, as well as the opportunity to view famous works, including “Starry Night” and “Sunflowers,” in 360° format.

“This is an opportunity to immerse yourself in Van Gogh’s world and experience his art in a new way,” the organizers emphasize.

It is noted that the exhibition has already been presented in a number of cities around the world, including New York, Los Angeles, Berlin, and Dubai, where it was visited by millions of viewers.

As reported, Vincent van Gogh’s painting “Landscape with a Farmhouse” was sold at the TEFAF international art and antiques fair in Maastricht for $13.5 million.

 

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Ukraine ranked 111th in 2026 World Happiness Report

Ukraine ranked 111th in the 2026 World Happiness Report with a score of 4.658 on the life evaluation scale. The ranking was published on March 19 and covers 147 countries.

The top 10 “happiest” countries according to the World Happiness Report 2026 are: Finland, Iceland, Denmark, Costa Rica, Sweden, Norway, the Netherlands, Israel, Luxembourg, and Switzerland.

At the bottom of the ranking are Afghanistan, Sierra Leone, Malawi, Zimbabwe, Botswana, Yemen, Lebanon, the Democratic Republic of the Congo, Egypt, and Tanzania.

According to the report’s methodology, the ranking is based on average life satisfaction scores for 2023–2025 obtained from the Gallup World Poll, and the report itself is published by the Wellbeing Research Centre at the University of Oxford in partnership with Gallup and the UN Sustainable Development Solutions Network.

Yugoslav princess from Karadjordjevic dynasty has found herself at the center of investment scandal

According to Serbian Economist, Princess Katarina T. Karadjordjevic has found herself at the center of a financial scandal in the UK after a private investor claimed to have lost 50,000 pounds in a project he invested in, trusting her and her business partner. This was reported by the British Daily Mail.

According to the publication, the investor in question is British dermatologist Robin Russell-Jones, who met the princess in London. Shortly thereafter, her close associate and business partner Sharon Rea offered him the opportunity to invest £50,000 in a purported international project promising returns of up to £4 million. It was claimed that the initiative allegedly had the backing of international institutions, including the International Monetary Fund.

However, the project later turned out to be a sham, and the invested funds disappeared. The investor took the matter to court and won the case, but the money has still not been returned to him. According to the court ruling, Sharon Rea must repay the debt in installments—£100 per month.

The publication notes that Princess Catherine’s collaboration with Rea lasted at least five years. During this time, they promoted a number of international initiatives, including hospital construction projects and the organization of the Tsunami of Sound charity concert series; however, according to the report, none of these projects were ultimately implemented.

When the investor began to doubt the project’s credibility, he tried to contact Princess Katarina to verify information about her partner but received no response. The princess herself did not respond to media inquiries, while some of her acquaintances suggest she may have been misled.

The Karadjordjevic dynasty is a Serbian and Yugoslav royal dynasty that traces its origins to Karadjordje, the leader of the First Serbian Uprising. Members of the dynasty ruled Serbia in the 19th and early 20th centuries, and later the Kingdom of Serbs, Croats, and Slovenes and the Kingdom of Yugoslavia from 1921 to 1941.

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