PJSC “Zaporizhogneupor”, Ukraine’s largest refractory products manufacturer and a member of the Metinvest Group, reported a 4.4-fold increase in net loss for January–March of this year compared to the same period last year—rising to UAH 29.990 million from UAH 6.982 million
According to the company’s interim report, which is available to the agency “Interfax-Ukraine,” revenue from ordinary activities for this period decreased to UAH 869.871 million from UAH 970.715 million in the first quarter of 2025.
Retained earnings as of the end of March amounted to 59.283 million UAH.
According to the annual report, the company reported a net profit of 52.291 million UAH in 2025, while in 2024 the profit was 156.801 million UAH, with revenue from ordinary activities amounting to UAH 4,287,569 million (in 2024 – UAH 3,524,855 million).
Throughout 2025, refractory products were sold throughout Ukraine, excluding the temporarily occupied territories (TOT), and exports were directed to the following destinations: the Republic of Moldova (77% of total exports); Bulgaria (13%); Latvia (4%); North Macedonia (4%); Estonia (2%). A total of 2,815 thousand tons of products worth UAH 40.8 million were sold for export in 2025. In 2025, there was a 10% increase in gross export shipments in physical terms compared to 2024 (+262 tons).
In total, the plant sold 62,595 thousand tons of refractory products in 2025 and 62,976 thousand tons in 2024.
The number of employees as of the end of 2025 was 1,431, which is 3.9% more compared to 2024 (an increase of 53 employees). This increase was due to a decrease in employee turnover, the fulfillment of the hiring plan, and the additional recruitment of employees to implement projects. In 2025, the employee turnover rate decreased by 17.2% compared to 2024. The payroll fund for the company’s full-time employees in 2025 increased by 81.469 million UAH (+16.5%) compared to 2024, totaling 575.179 million UAH. The average monthly income of full-time employees was UAH 34,542, an increase of UAH 5,757 compared to 2024.
The company’s key development priorities include reducing costs; improving product quality and competitiveness; optimizing processes for supplying the company with energy resources and raw materials; and exploring new technologies and current trends in refractory production. As part of the company’s technical development in 2026, ten types of refractory products are planned for production.
“Zaporizhvognetriv” is Ukraine’s largest manufacturer of high-quality refractory products and materials.
According to the National Securities and Stock Market Commission (NSSMC) data for the first quarter of 2026, Metinvest B.V. (Netherlands) owns 50.7899% of Zaporizhogneupor’s shares, while Zaporizhstal holds 49.2101%.
The company’s authorized capital is UAH 75.925 million, with a par value of UAH 13 per share.
According to the 2025 results, Ukraine increased its apparent steel consumption by 13.9% compared to 2024—from 3.6 million tons to 4.1 million tons, according to data from Worldsteel’s annual compendium.
Per capita steel consumption in Ukraine reached 105.3 kg in 2025, compared to 95.9 kg a year earlier. Globally, this figure averaged 209 kg per person, compared to 214.8 kg in 2024.
According to Worldsteel, Ukraine produced 7.4 million tons of steel in 2025 and ranked 23rd in the global ranking of producers. In 2024, the country produced 7.6 million tons of steel and ranked 22nd.
There are no Ukrainian companies on the list of the world’s 50 largest steel producers for the 2022–2025 period, whereas the Metinvest Group was included in this ranking in 2014–2021.
The world’s largest steelmaker in 2025, as in 2024 and 2023, was China Baowu Group, with production of 124.76 million tons of steel. In second place is ArcelorMittal with 63.43 million tons, followed by Nippon Steel Corporation with 57.78 million tons, Ansteel Group with 57.61 million tons, and HBIS Group with 42.49 million tons.
According to the results for 2022–2025, Ukraine did not make it into the top 20 largest steel exporters, whereas in 2021 it ranked 10th, having sold 15.7 million tons of steel products on foreign markets.
At the same time, in the ranking of net exporters, Ukraine ranked 9th in the world in 2025 with a volume of 1.7 million tons, compared to 10th place and 3.4 million tons in 2024.
In addition, Ukraine exported 0.4 million tons of ferrous metal scrap in 2025, compared to 0.3 million tons in 2024.
Agricultural holding IMK has purchased 75 grain trucks using a loan from the European Bank for Reconstruction and Development, the company’s CEO Oleksandr Verzhikhovsky announced during a speech at the Grain Ukraine 2026 international conference on Thursday in Kyiv.
“We have strengthened our road logistics component, secured $13 million in financing from the European Bank for Reconstruction and Development, and purchased 75 grain trucks,” Verzhikhovsky said.
The head of the agricultural holding noted that starting in 2023, the company has been investing approximately $10 million annually in the modernization of equipment and production. In particular, the greatest attention is being paid to logistics.
Given that the company conducts all its exports by rail through deep-water Black Sea ports, in 2024–2025 it implemented its own project to purchase 300 grain railcars. The company’s investment in this project amounted to $22 million.
“This was the right decision, as it currently yields annual savings of about $3–4 million,” emphasized the head of the agricultural holding.
A presentation on the AMK website with data for May of this year indicates that its logistics fleet includes 129 grain trucks, 300 grain railcars, 672 units of agricultural machinery, and 326 other vehicles.
The IMK agricultural holding is an integrated group of companies operating in the Sumy, Poltava, and Chernihiv regions (northern and central Ukraine) in the crop production, grain elevators, and warehousing segments. Land bank: 115,000 hectares; storage capacity: 554,000 tons; grain and oilseed production in 2025: 838,000 tons.
IMK’s net profit in 2025 increased by 24% to $67.5 million, while consolidated revenue decreased by 10% to $190.5 million.
According to Serbian Economist, Denmark’s Penning has acquired the wealth management business from the Lithuanian crypto investment platform Veli, which was founded by a Serbian team. The deal specifically concerns the wealth management division, not the entire Veli company.
Veli’s European clients are scheduled to be migrated to the new Penning Wealth platform by the end of June 2026. Penning positions the deal as a step toward creating a MiCA-compliant platform for long-term investors in digital assets.
Veli is a crypto investment platform for long-term investors and financial advisors. The company was founded by a Serbian team with experience in institutional business, crypto investments, and portfolio management.
Penning is a Danish crypto service provider and one of the first players in Denmark to obtain a license under MiCA regulations. Following the deal, Veli will operate as a separate wealth management division of Penning.
In June, Kyiv’s theaters will present several premieres and new stage adaptations—ranging from classics of Ukrainian drama to children’s theater, contemporary drama, and musical productions. Our selection includes events from the “TyKyiv” Instagram channel, as well as premieres by the National Operetta of Ukraine.
“TyKyiv” Instagram channel: https://www.instagram.com/tykyiv/
“Oh, Don’t Go, Hrytsiu…”
The Lesia Ukrainka National Academic Drama Theater will present a new interpretation of Mykhailo Starytsky’s play “Oh, Don’t Go, Hrytsiu, to the Evening Gathering.”
In this production, the story of love and betrayal is transposed into a modern urban setting. As noted in the announcement, here “feelings quickly become weapons, and the struggle for attention and significance often outweighs the truth.”
Where: Lesya Ukrainka National Drama Theater, 5 Bohdan Khmelnytsky St.
When: June 8 at 7:00 p.m., June 9 at 7:00 p.m.
“Winnie-the-Pooh”
The Kyiv Municipal Puppet Theater on the left bank of the Dnipro will present a puppet version of the adventures of Winnie-the-Pooh. The performance is based on the children’s stories by English author A. A. Milne.
The story centers on the teddy bear Winnie the Pooh and his toy friends. The director of the production is Gleb Gyutin.
Where: Kyiv Municipal Puppet Theater on the left bank of the Dnipro, 1 Myropilska St.
When: June 13 at 11:00 a.m., June 28 at 11:00 a.m.
“The Rabbit Hole”
The Wild Theater presents a production based on the play “The Rabbit Hole” by American playwright David Lindsay-Abaire. It is a story about a difficult loss and the search for a way to cope with personal tragedy.
At the center of the plot is a married couple whose four-year-old son died in a car accident. The characters grieve the loss in different ways: some do so openly, while others keep their feelings hidden inside.
Where: Stage 6 of the Dovzhenko Center, 1 Vasylkivska St.
When: June 26 at 6:30 p.m., June 27 at 6:00 p.m.
“Tiger Hunters”
Kyiv’s “Golden Gate” Theater presents a new adaptation of Ivan Bagryany’s adventure novel “Tiger Hunters.”
The story follows aviation engineer and political prisoner Hryhorii Mnohohrishnyi. In the 1930s, he escapes from a “death train” and ends up in the Far East, where he finds a family of Ukrainian settlers.
Where: Kyiv’s “Golden Gate” Theater, 7A Shovkovychna St.
When: June 27 at 6:00 PM, June 28 at 6:00 PM.
Premieres at the National Operetta of Ukraine
In June, the National Operetta of Ukraine will also present several notable productions as part of its 91st theater season.
“KING LIR! VERSION”
In early June, the Frank Theatre will present a new stage adaptation of Shakespeare’s “King Lear,” translated by Yuri Andrukhovych.
This is the story of the legendary ruler of Britain, who at the end of his reign decides to relinquish power and divide the kingdom among his three daughters. But the king’s personal choice sets off a drama about power, family, responsibility, and the price of mistakes.
The theater emphasizes: “King Lear” is not only a Shakespearean classic but also a play about timeless questions that remain relevant for people and society today.
Where: Ivan Franko National Drama Theater,
3 Ivan Franko Square
When:
June 5 — 6:00 PM
June 6 — 3:00 PM
June 11 — 6:00 PM
“Insects”
On June 19 and 20, the National Operetta of Ukraine will present the premiere of Igor Nebesny’s phantasmagorical musical “Insects.”
The production will take place on the theater’s main stage. The performance is intended for audiences aged 12 and older.
Where: National Operetta of Ukraine, 53/3 Velyka Vasylkivska St.
When: June 19 at 6:00 PM, June 20 at 5:00 PM.
“Tiger Hunters” at the National Operetta
In addition to the “Golden Gate” Theater, the National Operetta of Ukraine will also adapt Ivan Bagryany’s novel in June. On June 28, the theater’s main stage will host the musical “Tiger Hunters” by Kirill Beskrovny, Anatoly Gumanuk, and Bogdan Reshetilov.
The production is based on Ivan Bagryany’s novel of the same name and combines the literary source material with a musical-theatrical format.
Where: National Operetta of Ukraine, 53/3 Velyka Vasylkivska St.
When: June 28 at 5:00 p.m.
Thus, Kyiv’s June theater program combines classics, contemporary drama, children’s theater, and musical productions. For audiences, this is an opportunity to see both new interpretations of well-known works and premieres on the capital’s major stages.
For more information about events in Kyiv, visit the “YouKyiv” Instagram page: https://www.instagram.com/p/DZKSi7Kjblv/?img_index=2
In January-March of this year, United Mining and Chemical Company (UMCC Titanium) doubled its net loss compared to the same period last year—to UAH 411.235 million from UAH 203.236 million
According to the company’s interim report, which is available to the agency “Interfax-Ukraine,” revenue from ordinary activities for this period rose to UAH 331.342 million from UAH 239.604 million in the first quarter of 2025.
The uncovered loss as of the end of March amounted to 3,181.364 million UAH.
According to the annual report, the company incurred a net loss of 2,118.156 million UAH in 2025, whereas in 2024 it reported a profit of 17.009 million UAH, with revenue from ordinary activities amounting to UAH 1,510,751 million (in 2024 – UAH 2,851,180 million).
The report notes that forced production stoppages at the beginning and end of last year led to increased expenses and an additional working capital deficit. In addition, market prices for electricity rose by 20–30% compared to 2024, which directly contributed to an increase in the cost of production. Repairs and maintenance of machinery and equipment, which had been postponed in 2024–2025 and were necessary to ensure sufficient volumes of stripping and beneficiation work, were carried out late due to a shortage of working capital.
In 2025, the Vilnohirsk Mining and Metallurgical Plant (VGMK) produced 4,456 thousand tons of zirconium concentrate, 8,477 thousand tons of rutile concentrate, and 22,836 thousand tons of ilmenite concentrate. At the IZG, ilmenite concentrate production amounted to 55,575 thousand tons.
Energy resources accounted for the largest share of the cost of goods produced by the VGMK branch in 2025—627.897 million UAH (56%), of which expenses for fuel and lubricants during the reporting period amounted to 53.961 million UAH. The branch’s total electricity consumption amounted to 81.349 million kWh. Labor costs with deductions accounted for a significant share—35%—and depreciation of fixed assets—6%. Other expenses—taxes to the state and local budgets and services provided by third-party organizations—accounted for 3% in the reporting period.
Actual expenses for the maintenance of fixed assets for 2025, taking into account the high degree of wear and tear on production equipment and the need to keep it in working order, amount to UAH 142.711 million, including UAH 14.121 million allocated for repairs, and UAH 107.863 million for the commissioning and maintenance of equipment at the plant’s divisions.
In 2025, the VGMK branch utilized capital investments totaling UAH 155.811 million from its own funds, of which UAH 1.121 million was allocated for the purchase of fixed assets.
During the reporting period, the Irshansk Mining and Processing Plant was supplied with energy resources in sufficient quantities; natural gas consumption amounted to 1,442.64 thousand cubic meters, and electricity consumption to 26,656.3 thousand kWh.
The Irshansk Mining and Processing Plant (IGZK) fulfilled 48% of its commercial production plan. Savings on production costs amount to UAH 533.089 million; other expenses account for the lion’s share of the production cost of the IGMK branch’s output—28%. The program of measures approved at the IMC branch provided for the utilization of UAH 296.050 million in capital investments in 2025, which exceeds the level of actual investment by UAH 299.341 million (actual investments amounted to UAH 3.291 million). In 2025, expenditures under the categories “capital construction” and “modernization, modification (reconstruction) of fixed assets” totaled UAH 3.698 million.
In 2025, the total number of employees at OGHK was 4,443, including 3,031 at VGMK and 1,194 at IGZK.
As reported, Cement Ukraine LLC, controlled by NEQSOL Holding, acquired OGHK at an auction on October 9, 2024, for UAH 3,938,351.58.
On November 19, 2024, the State Property Fund of Ukraine and Cement Ukraine LLC entered into Agreement No. 217 for the sale and purchase of a 100% stake in OGHK. On May 29, 2025, the Antimonopoly Committee of Ukraine granted approval for the concentration. On June 10, 2025, Cement Ukraine LLC became the owner of 100% of the company’s shares. Cement Ukraine LLC is part of the international NEQSOL group of companies, with the ultimate parent company NEQSOL Holding B.V. (Netherlands), owned by Azerbaijani citizen Nasib Hasanov.
OGHK has two subsidiaries—the Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovsk Oblast) and the Irshansk Mining and Processing Plant (IGZK, Zhytomyr Oblast). OGHK’s main activities include open-pit mining of titanium ores, as well as the production and wholesale trade of titanium ore concentrates (zircon, ilmenite, rutile, disten-sillimanite, staurolite, and quartz sand).
According to the National Securities and Stock Market Commission (NSSMC) data for the first quarter of 2026, LLC “Cemin Ukraine” owns 100% of OGHK’s shares.
The authorized capital of PJSC “OGHK” is UAH 1.994 billion, with a par value of UAH 1 per share.
