The manufacturer of agricultural and special-purpose machinery, JSC “Fregat Plant” (Pervomaisk, Mykolaiv region), increased its losses by 21.3% in January-March 2025 compared to the same period in 2024, to UAH 15.1 million.
According to the company’s financial report published in the information disclosure system of the National Securities and Stock Market Commission, net sales revenue decreased 6.9 times to UAH 8.4 million.
The company received UAH 1.2 million in gross profit (UAH 19 million a year earlier), and operating losses amounted to UAH 13.7 million compared to a profit of UAH 6.8 million in January-March 2024.
“The martial law in Ukraine, which was introduced in connection with the Russian Federation’s military aggression against Ukraine, is leading to unstable operations and a reduction in production. The company is continuing its production activities, but not all production capacities are operating, as a result of which not the entire range of products is being manufactured,” the report says.
According to the plant, during the reporting period, the production of agricultural machinery for crop production amounted to 0.47% of the plant’s commercial output, equipment for the processing industries of the agro-industrial complex was not produced, and other types of products accounted for 99.5%.
The Fregat plant specializes in the production of irrigation systems, road barriers, metal structures, as well as machine-building products and special-purpose machines.
As of April 1, the average number of employees at the plant was 140, with another 88 people working in the Eastern branch and 9 in the Dnipro branch. The average salary is 13,080 UAH.
As reported, in 2024, the plant increased its losses by 58% compared to 2023, to UAH 60.4 million, while net income grew by 34.6%, to UAH 188.6 million.
In January-September of this year, the manufacturer of agricultural machinery and special vehicles, Fregat Plant JSC (Pervomaisk, Mykolaiv region), increased its net sales revenue by 42.4% year-on-year to UAH 134.7 million.
According to the company’s financial report published in the National Securities and Stock Market Commission’s (NSSMC) information disclosure system, its loss increased 5.4 times to UAH 41.6 million due to a 7.5-fold increase in expenses under the “other expenses” item to UAH 48 million.
For its part, the plant earned UAH 50.7 million in gross profit, up 46.4% compared to January-September 2023, and its operating profit almost tripled to UAH 16.4 million.
As reported, in the first half of this year, the plant increased its loss by 5.8 times compared to the same period in 2023, to UAH 29.14 million, while revenue increased by 56.3% to UAH 99.2 million.
Thus, in the third quarter of 2024, the plant increased its loss by UAH 4.7 million to UAH 12.4 million, while net income increased by 14% to UAH 35.5 million.
Fregat specializes in the production of irrigation systems, road fencing, metal structures, as well as engineering products and special-purpose machinery.
The company exports road safety fences to Germany, the Netherlands, Poland, and the former CIS countries (except Russia and Belarus), where it also supplies agricultural machinery for crop production.
The main foreign customers are BBV Baustahl und Blechverarbeitungsgesellschaft mb, Scuer GmbH (Germany), Meerman Technisch Buro B.V. (Netherlands), and Agrorada (Poland).
As of October 1 this year, the average number of employees was 240, with an average salary of UAH 11.5 thousand.
In 2023, the plant reduced its net loss by 5.4 times compared to 2022, to UAH 25.8 million, while net income decreased by 16% to UAH 140 million.
As of the third quarter of 2024, Fregat Engineering Limited (Cyprus) owns more than 96.25% of the authorized capital of Fregat Plant JSC, and the ultimate beneficiaries, according to opendatabot, are members of the Dementienko family from Dnipro.
A large Ukrainian manufacturer of agricultural machinery, JSC Plant Fregat (Pervomaisk, Mykolaiv region) ended 2020 with a net loss of UAH 470,000, while in 2019 it was UAH 26.5 million.
According to the financial statements of the enterprise, published on Tuesday in the information disclosure system of the National Securities and Stock Market Commission, last year it increased its net income by 21.7%, to UAH 479.23 million.
According to the information of the plant, 53% of the total volume of manufactured products fell on for safety barriers roads and metal structures, 32% – the production of agricultural machinery for crop production, and other types of products accounted for 15%.
The enterprise exports road safety barriers to Germany, the Netherlands, China, the CIS countries; and agricultural machinery is mainly exported to the CIS countries.
Plant Fregat offers complex solutions in the field of irrigation systems, road barriers, metal structures for various purposes, as well as mechanical engineering products.
The agricultural machinery of the enterprise is included in the list of agricultural machinery, upon purchase of which 25% of its cost is compensated to the agrarians from the state budget.
This year, the plant also expects to expand the geography of deliveries of irrigation machines, in particular, an agreement has been signed for the supply of 50 machines to Uzbekistan, and deliveries are planned to Kyrgyzstan. Also, work is underway to establish cooperation with the farmers of Romania, Bulgaria and expand partnership with Poland.
