In early April, the investment company S1 REIT published the results of the audit of its operations for 2025. The audit was conducted by Crowe Erfolg Ukraine, a leading Ukrainian audit and consulting firm and an official member of the international Crowe Global network. This network consistently ranks among the top 10 largest audit networks in the world, providing the company with access to global standards and methodologies.
“The audit is part of the regulator’s requirements for funds that attract collective investments. Publishing the report is not only compliance with Ukrainian legislation but also a confirmation of our transparency and openness. The documents are available on the company’s official website,” noted S1 REIT’s Chief Financial Officer Vadym Pavlushyna.
The audit opinion confirmed that the 2025 financial statements, in all material respects, fairly present the financial position of the funds in accordance with International Financial Reporting Standards (IFRS). According to the audit results, S1 REIT demonstrated growth momentum and a high level of protection for investors’ capital.
The report notes the absence of external debt on the funds and confirms that growth is driven by equity and direct investments. This minimizes risks for investors during periods of economic volatility.
“We have demonstrated that each investment certificate is backed by real, legally sound, and profitable assets. Even amid the challenges of 2025, we maintained stability: the reports confirm that no events occurred that would have negatively impacted capital,” added Vadym Pavlushyna.
The full audit report for 2025 is published on the website, in the “About Us” section https://reit.s1.ua/ua/about. The documents contain financial information about AMC “REIT S1” and all active funds in the company’s portfolio.
The fund’s past performance is not a guarantee of future returns. Before investing, please review the terms and conditions and consult with a financial advisor.
About Us:
S1 REIT is Ukraine’s first operator of collective investments in income-generating real estate, offering the opportunity to become a co-owner of profitable properties with an entry threshold that is tens of times lower than the cost of a single residential or commercial unit. The company operates under the Real Estate Investment Trust (REIT) model, providing investors with the opportunity to participate in the ownership and receipt of income from income-generating properties without direct asset management.
Currently, two funds are available for investment: S1 VDNG and S1 Obolon. The assets of these funds consist of apartments in income-generating buildings developed by Standard One.
Ukrainian Prime Minister Yulia Sviridenko has linked the previously launched audit of government spending to deregulation and the moratorium on interference in business.
“In the economy, we have launched the implementation of the National Security and Defense Council’s decision on a moratorium on business inspections by law enforcement agencies. Business expects tangible steps from the government towards deregulation. Therefore, we are starting an audit of all government spending.
We plan to significantly reduce bureaucratic procedures,” Svyrydenko wrote on Facebook on Sunday morning.
She also said that she is currently meeting with each minister and working with them on specific plans that will be included in the government’s action program.
As reported, on July 23, Ukrainian President Volodymyr Zelensky signed a decree to reduce bureaucratic procedures and conduct an immediate audit of government spending. He expects the government to report back within a month so that maximum state resources can be directed toward defense. He also announced “tangible steps toward deregulation to give people more freedom.” The relevant decree No. 544/2025 was published on the president’s website.
On the same day, the Cabinet of Ministers of Ukraine approved a plan to implement the decision of the National Security and Defense Council on a moratorium on unfounded inspections and interference in business, among other things, instructing
the State Regulatory Service and ministries to submit proposals for deregulation and reduction of unnecessary permits within a month. “From July 24, the tax and customs authorities will limit inspections for low-risk enterprises. The exception is high-risk industries, such as the turnover of excisable goods, where control is necessary,” Svyrydenko wrote on Telegram.
According to her, by October 21, law enforcement agencies must agree on measures to identify assets subject to sanctions and ensure their return to the budget for defense and recovery needs.
“The plans include the launch of a digital control system and a quarterly review of the effectiveness of decisions,” Svyrydenko added.
She also noted that the government will prepare amendments to the Criminal Procedure Code (CPC): only the prosecutor general or regional-level officials will be able to open new proceedings against businesses.
Zaporizhzhia-based Zaporizhstal Iron and Steel Works has successfully passed an audit for compliance of its hot-rolled and cold-rolled products with the requirements of EN 10025 and EN 10130 standards, the company announced on Tuesday.
According to a press release, on February 24 and 25, 2025, an auditor from Technical and Management Services LLC, a corporate partner of the certification company TÜV ZÜD, inspected the manufacturing technology of Zaporizhstal’s hot-rolled and cold-rolled products.
To confirm that the mechanical properties of rolled products meet the requirements of the standards, metal samples were taken and tested at the plant’s product testing and certification center. The auditor reviewed the technical and organizational documentation and highly appreciated the systematic work aimed at improving product quality and implementing new approaches to customer focus.
Based on the audit results, Zaporizhstal confirmed the compliance of its hot-rolled and cold-rolled products with the requirements of EN 10025-1:2004, Annex ZA, Construction Regulation 305/2011/EU and EN 10130.
In addition, the scope of the certificate has been extended to cover hot-rolled products made from steel grades suitable for cold forming and bending. This will open up opportunities for the sale of such rolled products in accordance with the requests of European consumers.
At the same time, it is reminded that Zaporizhstal has been operating in accordance with the requirements of EN 10025-1: 2004 and EN 10130: 2006. The plant has also been certified and regularly confirms its compliance with the requirements of international standards for the quality management system IS0 9001 since 2003, the environmental management system ISO 14001 and the occupational health and safety management system ISO 45001 since 2008, the statement said.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries of the world.
“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%).
Metinvest Holding LLC is the management company of Metinvest Group.
Zaporozhkoks, one of Ukraine’s largest coke and chemical producers and part of Metinvest Group, has successfully passed a recertification audit of its compliance with the requirements of the international energy management standard ISO 50001:2018.
According to a press release on Wednesday, the audit was carried out at the coal preparation, coke and resin processing shops, as well as at the desulphurization and desulphurization shops and the chief power engineer department of the enterprise by specialists from the audit company Technical and Management Services, a corporate partner of the certification company TÜV AU.
During the audit, they analyzed internal documentation and compliance with the established rules in the work of the units. The auditors paid special attention to the development of new approaches to energy saving and the measures taken to strengthen the company’s energy independence.
The experts noted the high level of staff involvement in the process of energy saving and continuous improvement. Based on the results of the audit, Zaporizhkoks confirmed its compliance with the requirements of the international standard ISO 50001:2018 and recommended issuing an updated certificate of conformity.
It is noted that Zaporozhkoks has been certified since 2014 and regularly confirms its compliance with international standards of quality management system, environmental management, occupational health and safety management.
As reported, Zaporozhkoks increased its blast furnace coke production by 16% in 2023 compared to 2022, up to 856.8 thousand tons from 737.4 thousand tons.
“Zaporozhkoks has a full technological cycle of processing coke products.
“Metinvest is a vertically integrated mining group of companies. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage the company.
Metinvest Holding LLC is the management company of Metinvest Group.
Economic results of KSG Agro holding for 2021 were confirmed by international audit company Crowe which is one of the top 10 world audit networks, the holding press-release said on Monday.
According to the report, the agrarian group has significant biological assets through its agricultural operations, which reached $39.4 million at the end of 2021, and net income from biological transformation for that year was $7.3 million.
“The pre-war year was one of the best in the history of our holding company, as witnessed by international auditors. Thanks to the successful choice of technology and weather conditions, our crop yields were the highest in the last 10 years, and in the pig segment we had a good update of the herd with Canadian Genesus genetics and achieved high dynamics of piglet litter,” – quotes the head of the holding Sergei Kasyanov.
KSG Agro noted that Polish investors are very closely monitoring the state and development of the Ukrainian companies which are listed on the Warsaw Stock Exchange. They understand that Ukraine will win the war with Russia, and therefore they pay attention to the professional evaluation of the financial and production situation of Ukrainian assets by international auditing companies, said the holding
KSG Agro reminded that according to the results of 2021, KSG Agro S.A. (Luxemburg) increased gross income by 44% compared to 2020 – from $21.3 million to $30.7 million, EBITDA by 2 times – from $6.02 million to $12.27 million, its operating profit increased by 2.5 times – from $4.3 million to $10.7 million. The profit of KSG Agro S.A. (Luxemburg), which includes all the group companies, was $20.2 million before taxes.
The vertically integrated holding KSG Agro is engaged in pig breeding as well as the production, storage, processing and sale of grain and oilseeds. Its land bank is about 21,000 hectares.
According to the agricultural holding, it is one of the top five pork producers in Ukraine.
KSG Agro in the first half of 2022 increased normalized profit by 43% compared with January-June 2021 – to $1.21 million, while its revenue decreased by 12%, to $6.02 million, and EBITDA by 17%, to $2.22 million.
Ferrexpo Poltava Mining (FPM) and Ferrexpo Yeristovo Mining (FYM), which are the Ferrexpo Group’s subsidiaries, in January 2022, successfully passed a social responsibility audit as per the SMETA methodology, which was carried out by the Intertek international company.
The audit explored the extent of the employees’ social protection and ran across production subdivisions, support services and Administration. Collective and individual interviews were also held at all levels of key and support personnel and contractor workforce.
The approaches of the Companies’ management to the social security of their employees, free transportation to the workplace, high-quality medical care at the company-owned Medical Unit, health and life insurance were positively noted.
The social audit outcomes will be posted on the Sedex platform official website.
Inna Us, Head of Projects and Programmes – Lead Auditor on Social Responsibility and Management Systems of Intertek Ukraine:
“According to the audit data, it has been found that these companies are in compliance with the requirements of the conventions of the International Labor Organization and the SMETA program. The employer provides the conditions for safe work, working hours meet the requirements of Ukrainian Law and industry standards, there is no discrimination and the company is guided by the regulations that fully protect the employees’ rights.”
Yaroslavna Blonska, Head of Sales Europe – External Relations Officer Ferrexpo:
“For the first time, we passed the social responsibility audit using the SMETA methodology and received a high rating from the international company Intertek. The positive opinion of the auditors testifies not only to the high quality of production, but also to the worthy level of social responsibility of our companies. The results of the analysis once again confirmed that Ferrexpo has created the required conditions for safe operation, implements high technologies to reduce the adverse impact of its activities on the environment and is a reliable business partner both in Ukraine and in international markets.”
Audit reference:
Sedex Members EThical Audit is an audit that assesses a company’s compliance with established requirements in four main areas: occupational health and safety, environment, working conditions, and supplier’s goodwill.
The outcomes of the SMETA social responsibility audit are recognized in more than 160 countries of the world and are a weighty and undeniable argument in confirming the company’s compliance with the moral standards of its external and internal business processes.
Company reference:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group’s iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo’s operations have been supplying the global steel industry for over 40 years and in 2021 the Group produced 11.2 million tonnes of iron ore pellets, placing Ferrexpo as the world’s 3 rd largest exporter of pellets to the global steel industry with a market share of approximately 9%. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com
Intertek reference:
Intertek is an industry leader with over 43,800 employees from 1,000 offices in over 100 countries. The company helps local and global businesses meet the quality, health, environment, safety and social responsibility standards of virtually every market worldwide. More information can be found at www.intertek.com.
