PJSC “Electrometallurgical Plant ”Dniprospetsstal” (Zaporizhzhia) reported a net loss for 2025, as it did in 2024; the amount of the loss has not been disclosed.
According to the company’s announcement in the NSSMC’s information disclosure system regarding the remote general meeting of shareholders to be held on April 29, the agenda includes 11 items. In particular, the meeting is scheduled to review the reports of the company’s supervisory board and auditor for 2025, approve the results of financial and operational activities for the past year, and determine the procedure for covering losses.
In addition, the agenda includes reviewing the management board’s report on the consequences of the reduction in the company’s equity, reviewing and approving measures to be taken to improve the financial condition, and appointing an audit firm to conduct the mandatory audit of the financial statements. A decision is to be made on amending the company’s charter and approving agreements concluded by the company with Oschadbank JSC and OTP Bank JSC during 2025.
The draft resolutions, copies of which are available at the Interfax-Ukraine agency, propose to approve the results of the company’s financial and economic activities for 2025. Due to the absence of net profit, no dividends shall be declared and no contributions to the reserve fund shall be made. Losses shall be covered by profits from future periods.
In accordance with the recommendations of the company’s supervisory board audit committee, it is proposed to appoint Crow Erfolg Ukraine LLC as the audit firm to conduct the mandatory audit of the company’s financial statements for 2026.
As reported, Dniprospetsstal reduced its net loss by 25.3% in the first nine months of 2025 compared to the same period last year—to UAH 246.728 million; net revenue for this period increased by 0.8%—to UAH 4.245881 billion. Uncovered losses as of the end of September 2025 amounted to UAH 6.079011 billion. During the period, the plant reduced steel production by 40% compared to the same period last year—to 164,491 thousand tons from 272,622 thousand tons.
According to the annual report, based on the results of 2024, the plant reduced its net loss by 38.7% compared to 2023 — to UAH 582.427 million from UAH 950.510 million (the consolidated loss in 2024 amounted to UAH 588.606 million compared to UAH 950.664 million the previous year). At the same time, net revenue increased by 26.5%, to UAH 5.686039 billion from UAH 4.496158 billion. The accumulated loss as of the end of 2024 amounted to UAH 6.011880 billion.
In 2024, the plant produced 95,000 tons of steel (an increase of 20.8% compared to the previous year) and manufactured 71,400 tons of rolled steel (an increase of 30.8%).
The report noted that the majority of the group’s fixed assets (approximately 80%) are pledged as collateral. The group has a significant share of overdue loans and payments on accrued interest and is partially in breach of the financial covenants set forth in the loan agreements. As of the date of signing the report, the process of restructuring the loan agreements has not been completed. Some of the group’s real estate and land plots are also under seizure.
As of December 31, 2024, the Group’s net assets had a negative value of UAH 3,180,739 million (as of December 31, 2023, they amounted to UAH 2,537,876 million) and constitute less than 50% of the registered share capital. In addition, net assets in 2024 decreased by more than 25% compared to December 31, 2023.
These matters, events, or conditions, together with other matters, indicate that there is significant uncertainty that may cast significant doubt on the company’s ability to continue as a going concern, the report states.
The company temporarily suspended its own production from February to May 2022. At the end of May 2022, the company resumed production activities.
“Dniprospetsstal” is Ukraine’s sole producer of long products and forgings made from special steel grades: stainless, tool, high-speed, bearing, structural, as well as heat-resistant nickel-based alloys.
According to the National Securities and Stock Market Commission (NSSMC) data for the fourth quarter of 2025, its shares are held by Wenox Holdings Ltd. – 47.1128%, Boundryco Ltd. – 11.0131%, Gazaro Ltd. – 16.5197%, Crascoda Holdings – 6.6826%, and Middleprime Limited – 9.7901% (all based in Cyprus).
It was previously reported that in May 2008, the international investment and consulting group EastOne sold its approximately 30% stake in Dniprospetsstal, which had previously been held under the group’s mandate. Meanwhile, the plant’s new shareholders are linked to VS Energy International, whose beneficiaries include several Russian entrepreneurs.
The authorized capital of the private joint-stock company is UAH 49.720 million.
Dniprospetsstal electrometallurgical plant (Zaporizhia) has begun a gradual launch of production, including for the purpose of supplying stainless steel to PrJSC Centravis Production Ukraine, which is part of holding Centravis Ltd.
Chief Sales Officer (CSO) Artem Atanasov said in a letter to Centravis customers that the company is experiencing a positive trend in the supply of pipe billets for production.
“Dniprospetsstal, our main billet supplier, is gradually launching production, and in the near future we expect stable supply volumes,” Atanasov stated.
According to him, Centravis is operating normally, both in hot and cold shops. At the same time, in the hot production, all actual performance indicators are higher than planned, in the cold shop, several lines operate at the level of stable operation before the war.
The sales director recalled that the plant began to offer products and take orders.
“Your continued support (from customers) is extremely important to us at this stage. Buying pipes from Centravis means that you support the restart of the Ukrainian economy, which is now more important than ever. Our logistics team is actively working and constantly looking for better and safer ways for delivery of finished products,” Atanasov emphasized, adding that the company is actively preparing for participation in the Tube&Wire exhibition, which will be held in Dusseldorf on June 20-24.
Centravis is one of the world’s largest manufacturers of seamless stainless steel pipes, founded in 2000. Its production facilities are located in Nikopol (Dnipropetrovsk region). It is included in the top 10 world players. Before the Russian aggression, more than 1,400 people worked at the enterprise.
Dniprospetsstal electrometallurgical plant (Zaporizhia) in January-November this year increased output of finished rolled products, according to recent data, by 0.7% year-over-year, to 142,000 tonnes.
As a representative of the enterprise told Interfax-Ukraine, steel production during this period decreased by 2.9%, to 199,000 tonnes.
In November, 12,000 tonnes of steel and 10,000 tonnes of rolled products were produced.
As reported, Dniprospetsstal in 2020 increased output of finished rolled products by 1.3% compared to 2019, to 154,000 tonnes, and steel by 2.7%, to 225,000 tonnes.
Dniprospetsstal is the only Ukrainian manufacturer of long products and forgings from special grades of steel: stainless, tool, high-speed, bearing, structural, as well as from heat-resistant nickel-based alloys.
Dniprospetsstal electrometallurgical plant (Zaporizhia) in January-August this year increased the output of finished rolled products, according to recent data, by 9% compared to the same period last year, to 109,000 tonnes.
A representative of the enterprise informed Interfax-Ukraine that steel production during this period increased by 5.5%, up to 153,000 tonnes.
In August, 19,000 tonnes of steel were smelted, 13,000 tonnes of rolled products were produced.
As reported, Dniprospetsstal in 2020 increased the output of finished rolled products by 1.3% compared to 2019, up to 154,000 tonnes, steel by 2.7%, to 225,000 tonnes.
Dniprospetsstal is the only Ukrainian manufacturer of long products and forgings from special grades of steel: stainless, tool, high-speed, bearing, structural, as well as from heat-resistant nickel-based alloys.
Dniprospetsstal Electrometallurgical Plant (Zaporizhia) in January-July this year increased the output of finished rolled products by 10% compared to the same period last year, to 95,200 tonnes.
A representative of the enterprise informed Interfax-Ukraine that steel production for this period increased by 7.3%, to 133,040 tonnes.
In July 19,000 tonnes of steel were smelted, 12,000 tonnes of rolled products were produced.
As reported, Dniprospetsstal in 2020 increased the output of finished rolled products by 1.3% compared to 2019, up to 154,000 tonnes, steel by 2.7%, up to 225,000 tonnes.
Dniprospetsstal is the only Ukrainian manufacturer of long products and forgings from special grades of steel: stainless, tool, high-speed, bearing, structural, as well as from heat-resistant nickel-based alloys.
Electrometallurgical plant Dniprospetsstal (Zaporizhia) in January-April this year increased the output of finished rolled products, according to operational data, by 19.1% compared to the same period last year – up to 56,000 tonnes.
Steel production during this period increased by 13.4% – up to 76,000 tonnes, the enterprise told Interfax-Ukraine.
In April, 21,000 tonnes of steel were smelted; 14,000 tonnes of rolled products were produced.
As reported, Dniprospetsstal in 2020 increased the output of finished rolled products by 1.3% compared to 2019, to 154,000 tonnes, steel by 2.7%, to 225,000 tonnes.
Dniprospetsstal is the only Ukrainian manufacturer of long products and forgings from special grades of steel: stainless, tool, high-speed, bearing, structural, as well as from heat-resistant nickel-based alloys.
