Business news from Ukraine

Business news from Ukraine

Vyshnevsky Foundry and Forging Plant to Allocate 75% of Profits to Dividends

PJSC “Vyshnevsky Foundry and Forging Plant” (VLKP, Kyiv region) reported a 3.2% decrease in net profit for 2025 compared to 2024—down to UAH 2.892 million from UAH 2.987 million.

According to VLKS’s announcement in the National Securities and Stock Market Commission (NSSMC) disclosure system regarding the remote general meeting of shareholders to be held on April 27, eight items are on the agenda. In particular, the meeting plans to review the company’s supervisory board’s report on its work in 2025, approve the results of financial and operational activities for the past year, and distribute profits.

Additionally, the meeting will decide on the payment of annual dividends, approve their amount and method of payment, approve significant transactions, terminate the powers of Supervisory Board members, and elect new ones.

Draft resolutions, copies of which are available to the Interfax-Ukraine agency, propose approving the Supervisory Board’s report and the company’s financial and operational results for 2025. Net profit in the amount of UAH 2,891,991 thousand is to be distributed as follows: 75%, amounting to UAH 2,169,049 thousand, is to be allocated for the payment of dividends; 25%, or UAH 722,942 thousand, is to be retained as undistributed profit.

It is proposed to pay dividends based on the results of 2025 and to approve a dividend amount of 1.5133 UAH per share. The method of dividend payment shall be directly to shareholders.
As reported, based on its 2024 results, VLKZ saw its net profit decrease by 35.9% compared to 2023—from UAH 4.663 million to UAH 2.987 million—while the company’s net revenue fell by 25.7% to UAH 68.327 million. Retained earnings as of the end of 2024 amounted to UAH 12.594 million.

PJSC “VLKZ” was founded in 1990 on the basis of the foundry and forging shops of the Artem Kyiv Production Association. It specializes in the production of forged and cast products.
According to the State Registration Service data for the fourth quarter of 2025, resident individual Viktoria Gryshchenko owns 18.5947% of the company’s shares, resident individual Valentina Baeva owns 10.5216%, and JSC “Aviation and Rocket-Technical Engineering Company” holds 51.0001%.

Authorized capital: 358,000 UAH; par value: 0.25 UAH.

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Vodafone Ukraine is repurchasing $1.18 mln in Eurobonds to pay dividends to shareholders

Vodafone Ukraine (VFU), Ukraine’s second-largest mobile operator, which has repurchased approximately $22 million worth of its own Eurobonds since late May following several offers related to dividend payments, has announced another similar tender at 98% of par value for a total of $1.18 million.

As noted in a statement on the Irish Stock Exchange, prior to this, on March 2, the company made another monthly dividend payment of UAH 50.866 million, which is equivalent to the monthly cap of EUR 1 million set by the National Bank for such payments.

Applications to participate in the tender are being accepted through March 26, and settlements are scheduled for April 3.

Bonds maturing in February 2027 with a coupon rate of 9.625% per annum were issued for $300 million. Their redemption is related to the fact that on April 24, 2025, VFU announced the accrual of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. In accordance with National Bank restrictions, these dividends will be paid in separate monthly installments. It is expected that each such monthly dividend will amount to a sum in hryvnia equivalent to EUR1 million. The company emphasized that, under the terms of the bond issue, it must in such a case offer all bondholders the opportunity to submit an application to sell their bonds for an amount equal to the dividends paid outside Ukraine.

In the first two tenders, mobile operator “Vodafone Ukraine” repurchased bonds in an amount equivalent to EUR1 million. The initial repurchase was announced at 99% of par value, the second at 90% of par value. The company did not announce the results of the second buyback on the exchange, while the bid-to-cover ratio for the first buyback was 0.0040355668.

According to the results of the third tender, where the buyback price was reduced to 85% of par value and the offer was capped at $4.67 million, “Vodafone Ukraine” received bids totaling $53.395 million and accepted them for $5.208 million. The scale factor was 0.1315451889487317.

The fourth tender was announced on August 13 but was subsequently extended seven times. As a result, the redemption price was increased from 85% to 98%, and the redemption amount to $10.84 million. The company received bids totaling $127.14 million for this amount. Some of the bonds were returned to their holders due to the inability to split the face value, while the remainder were accepted with a scaling factor of 0.1150681.

In the fifth, sixth, and seventh bond buyback tenders in December, January, and February, the price was again 98%: in the fifth tender, with bids totaling $1.165 million, the scaling factor was set at 0.01901; in the sixth, with bids totaling $1.475 million, it was 0.04234; and in the seventh, with bids totaling $1.185 million, it was 0.3246.

Overall, based on the results of the seven tenders, the total nominal value of bonds remaining in circulation is $277.98 million.

As reported, mobile operator VFU increased its net profit by 10.7% to UAH 3.4468 billion and revenue by 13.3% to UAH 19.03 billion in the first nine months of 2025.

The report noted that in 2025, the company received loans from related parties to service and redeem Eurobonds. In February, the parent company Telco Investments B.V. provided $49.59 million for the partial repayment of Eurobond debt. In June, an agreement was signed with Telco Investments for a dollar-denominated credit line in an amount equivalent to 660 million UAH, at 10% per annum, maturing in 2028.

Finally, in July 2025, a loan agreement was signed with the Dutch company Cemin B.V. for $10 million at 10% per annum, with a repayment term no later than the end of 2027, but not before the maturity of the Eurobonds. The funds are credited in tranches to the company’s bank account at a foreign bank and are intended to be used to redeem the bonds that Vodafone Ukraine is issuing in connection with the resumption of dividend payments this year.

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“Hartron” will allocate 75% of its 2025 profit—20.23 mln UAH—to dividends

JSC “Hartron” (Kharkiv), 50%+1 share of which is owned by the state, plans to allocate UAH 20.23 million, or 75% of its net profit of nearly UAH 27 million, to pay dividends to shareholders for 2025.

According to the draft resolution of the general meeting of shareholders scheduled for April 15, dividends are planned to be paid at a rate of nearly UAH 0.23 per share with a par value of UAH 0.25.

The amount of dividends attributable to the state’s stake will be UAH 10.115 million.

“Due to the replenishment of the reserve fund to 25% of the authorized capital, no contributions to the reserve fund will be made; retained earnings amount to UAH 6.744 million,” the statement reads.

As previously reported, based on its 2024 results, “Hartron” planned to allocate 75% of its net profit, or nearly 18.113 million UAH, for dividend payments, calculated at 0.21 UAH per share with a par value of 0.25 UAH. Net profit for 2024 amounted to UAH 24.15 million.

The shareholders’ meeting plans, in particular, to elect the supervisory board for a new term.

“Hartron,” founded in 1959, operates in market segments such as the rocket and space industry, energy (including nuclear), and rail transport. The ‘Hartron’ group of companies includes JSC “Hartron” itself and a number of subsidiaries established with its participation.

According to data from the National Securities and Stock Market Commission (NSSMC) for the fourth quarter of 2025, the major shareholders of JSC “Hartron,” aside from the state, are Chairman of the Board Mykola Vakhn (18.29%) and Volodymyr Kucherenko (18.2856%).

There is no information in open sources regarding the company’s net sales revenue for 2024 and 2025.

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“Mlybor” plans to offset its 2025 losses using retained earnings

PJSC “Mlybor” (Chernihiv), a subsidiary of the IMC agricultural holding, plans to offset its 2025 losses using retained earnings and not to pay dividends, the company reported in the disclosure system of the National Securities and Stock Market Commission (NSSMC).

According to the draft decision of the annual general meeting scheduled for April 3, 2026, shareholders will also consider the issue of preliminary approval of significant transactions in the amount of up to $100 million for a period of one year.

As stated in the meeting agenda, this involves obtaining loans and banking products from Raiffeisen Bank JSC with a limit of up to UAH 500 million and extending the existing collateral to cover the updated financing terms, valid until September 2029. At the same time, the total limit under the general agreement is set at the equivalent of $11.5 million.

The company plans to extend the existing mortgage and pledge on the obligations of Chernihiv Industrial Dairy Company LLC and Agroprogress Private Enterprise to Raiffeisen Bank.

In addition, the meeting intends to approve the reports of the supervisory board and the executive body for 2025, as well as the external audit findings and the company’s annual report. Shareholders will consider the approval of related-party transactions that may be conducted during the year in an amount exceeding 1% of the value of assets, and will approve transactions conducted between April 2025 and April 2026.

Shareholders are also being asked to terminate the powers of the current members of the supervisory board effective April 15, 2026, and to elect new members through cumulative voting. No remuneration will be paid to board members, and the terms of their contracts will be approved at the meeting.

According to data from the Opendatabot service, Mlybor PJSC’s revenue in 2025 increased by 39.3%—to UAH 85.54 million compared to UAH 61.41 million in 2024. The company’s net loss amounted to UAH 44.00 million, compared to a loss of UAH 33.99 million a year earlier. As of the end of the reporting period, the company’s assets were valued at 331.85 million UAH, and total liabilities at 155.16 million UAH. The profitability ratio stood at “minus” 51.44%.

Mlybor PJSC is one of the key elevators of the IMC group, located in Chernihiv. It has the capacity to simultaneously store 102,000 tons of grain (wheat, corn, sunflower) and two grain dryers with a capacity of 3,500 tons/day. The beneficiary of the company is Oleksandr Petrov.

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Khorol Mechanical Plant will allocate UAH 20.2 mln from its UAH 86 mln profit to dividends

Agricultural equipment manufacturer Khorol Mechanical Plant (KMP, Khorol, Poltava region) plans to allocate nearly UAH 20.2 million, or 23.5% of its net profit of UAH 85.85 million for the past year, to dividend payments for 2025.

According to the draft decisions of the general meeting of shareholders, the announcement of which was published on April 17 in the disclosure system of the National Securities and Stock Market Commission (NSSMC), dividends are planned to be paid directly to shareholders at a rate of UAH 1.72 per share.

The remaining net profit in the amount of UAH 65.65 million is proposed to be directed to the development of production, replenishment of working capital, and resolution of social issues.

According to the plant’s financial report, it received UAH 110.8 million in net profit in 2024, meaning that in 2025, this figure decreased by 22.5%. Net income in 2024 amounted to UAH 405.3 million.

According to its information, from May 9 to October 18, 2025, the shipyard paid shareholders dividends for 2024 in the amount of UAH 13.15 million (almost 12% of profit) at a rate of UAH 1.12 per share, and allocated the rest of the profit to development.

According to the NSSMC data for the fourth quarter of 2025, the company’s shareholders who own more than 5% of the authorized capital are the chairman of the board, Mykhailo Mishchenko (23.98% of shares), and Mykola Melnyk (almost 5.25%).

KHMZ specializes in the manufacture of equipment for grain storage and cleaning; production of mixed fodder, cereals, flour, oil, and sowing materials; aspiration systems; mechanical grain transportation; production of fuel pellets, briquettes, etc.

As reported, in November 2025, the company began the process of localizing production in Turkey, choosing Izvik Makina Muhendislik as its main partner.

The stages of localization include large-scale assembly, equipping products with electric motors and gear motors from Turkish manufacturers, and the phased organization of the production of components and parts in Turkey, in particular on the principles of outsourcing (by mutual agreement).

According to YouControl, in 2025, KhMZ reduced its net sales revenue by 28.3% compared to 2024, to UAH 290.6 million.

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Interkonditsioner will allocate UAH 1 mln for dividends based on results of 2025

Interkonditsioner JSC (Kharkiv) plans to allocate UAH 1 million for dividend payments for 2025, or 42% of the net profit of UAH 2.38 million received last year.

According to the draft decisions of the general meeting of shareholders, the announcement of which was published on April 15 in the disclosure system of the National Securities and Stock Market Commission (NSSMC), dividends are planned to be paid at the rate of UAH 625 per share (with a par value of UAH 1,000).

The rest of the net profit is proposed to be left undistributed.

Based on the company’s performance in 2024, it allocated UAH 0.8 million of its net profit of UAH 2.31 million to dividends at a rate of UAH 500 per share.

As of the fourth quarter of 2025, according to the NSSMC, Serhiy Boiko owns 37.75% of the company’s authorized capital, Ruslan and Nadiya Ostapenko own almost 40.59% and 17.44%, respectively, and the ultimate beneficiaries, according to opendatabot, are Serhiy Boiko and Dmytro Ruslanovych Ostapenko.

At the meeting, shareholders plan, in particular, to re-elect the members of the supervisory board.

Founded in 1996, Interkonditsioner is, according to its information, Ukraine’s largest manufacturer of a wide range of equipment for air conditioning, industrial and general ventilation, emergency smoke removal and air heating systems, and provides installation and maintenance services.

The company’s equipment is used in large enterprises, shopping and office centers, hotels, supermarkets, and healthcare facilities.

According to opendatabot, in 2025, the company increased its sales revenue by 22.2% compared to 2024, to UAH 100.6 million.

The authorized capital of Interkonditsioner JSC is UAH 1.6 million.

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