A major manufacturer of glass containers, Kostopil Glassworks (KGS, Rivne region), ended 2024 with a net profit of UAH 76.5 million, which is 6.6 times less than in 2023.
According to the company’s financial report published in the National Securities and Stock Market Commission’s disclosure system, its net income decreased by 18% to UAH 1 billion 467.8 million.
The company received UAH 100.9 million in profit from operating activities (6.2 times less), and gross profit decreased threefold to UAH 235.3 million.
The company’s main products are beverage containers (91% of last year’s production), with bottles accounting for 9%.
Production amounted to 360.449 million pieces (64.44 thousand tons) worth UAH 1 billion 458.8 million, with an average selling price of UAH 22.63 thousand per tonne excluding VAT.
According to the plant, 51% of the products sold last year (755.3 million UAH) were exported, in particular to Poland, Hungary, Romania, Bulgaria, Slovakia, Moldova, Lithuania, Latvia, and Estonia.
The main consumers were Trade pol (20% of total revenue), Varda drink (7%), Group AWW Spolka (5%), as well as Yuria-Farm (7%) and Alko-Trading (5%).
The main suppliers of raw materials and goods for the glass factory were Papernyansky Glass Sand Quarry, Yug-Trading-Group, Glass-Alliance, EK Silend, UkrYugimpex, Naftakhim, Lutskkarton, and the Kyiv Cardboard and Paper Mill. Soda was supplied by the Polish company Ciech S.F., and field spar was supplied by the Turkish company Sankar Global.
The report notes that Kostopil Glassworks is one of the largest industrial enterprises in the Rivne region and is one of the five largest manufacturers of glass containers in Ukraine.
The plant lists Vilnohirsk Glass and Vetropack Gostomel Glassworks as its main competitors in Ukraine.
“In order to maintain its competitive position in the glass container market in Ukraine and abroad, the plant is investing heavily in development. In particular, to minimize its own energy consumption, a rooftop solar power plant worth UAH 34.2 million was commissioned in June 2023,” the report says.
KZS reports that it plans to increase glass container production by 10-15% annually and increase sales accordingly.
As of early 2025, the plant employed 503 people.
According to YouControl, the chairman of the Federation of Employers of Ukraine, Dmytro Oliynyk, owns 19.46% of KZS LLC, his family members Tetiana, Kyrylo, and Ivan Oliynyk own 16.27% and 6.9% respectively, another 22% belongs to the Bulgarian company Fisherman Investments, and 9.06% belongs to Andrii Rybitsky.
