Business news from Ukraine

Business news from Ukraine

“Podillya Food Company” Increased Its Net Profit by 42% in the First Half of the Year

In the first half of 2026, PJSC “Podillya Food Company” increased its net profit by 42.4% compared to the first half of 2025, reaching 587.25 million UAH.

As the company reported in the National Securities and Stock Market Commission’s (NSSMC) disclosure system, it increased its revenue 2.4-fold to 2.48 billion UAH.
According to the report, gross profit rose 4.1-fold to 541.74 million UAH, while operating profit increased by 44% to 710.91 million UAH.

Since the beginning of the year, the company’s assets have increased by 0.8% to 9.46 billion UAH, while equity rose by 12.4% to 5.34 billion UAH, including retained earnings, which increased by 12.4% to 5.33 billion UAH.
The company’s current assets increased by 5.3% over the first half of the year to 6.36 billion UAH; specifically, trade and other current receivables rose by 2% to 3.36 billion UAH, while total liabilities decreased by 11% to 4.12 billion UAH.

According to the report, in the second quarter of 2026, “Podillya Food Company” continued to invest in the acquisition, modernization, and maintenance of fixed assets—including production equipment, vehicles, infrastructure facilities, and auxiliary equipment. Specifically, the company acquired new agricultural machinery—including mineral fertilizer spreaders, a generator, and seed cleaning equipment—as well as a disc harrow; for its dairy operations, it purchased a new cooling panel and a milk pasteurizer.

Going forward, “Podillya” plans to focus on increasing the yield of sugar beets and grain crops using precision farming technologies, specifically variable-rate fertilizer application and GPS-monitored machinery. The company is also considering expanding its portfolio of leased land and upgrading its fleet of agricultural machinery with energy-efficient models.
In addition, “Podillya” is analyzing the possibility of investing in a production line for granulated beet pulp and molasses, which will allow the company to diversify its revenue streams and ensure zero-waste production.

In the livestock sector, “Podillya” plans to gradually increase the size of its dairy herd and replace low-productive animals with breeding stock possessing high genetic potential. Plans also include the renovation of barns and the automation of feeding processes to increase average daily milk yields.

PJSC “Podillya Food Company” is part of the “Ukrprominvest-Agro” agricultural holding. It owns a land bank of 51,000 hectares. It specializes in growing sugar beets, wheat, corn, and barley, as well as in swine farming (21,000 head), and maintains a herd of 3,000 head of cattle. It has a grain storage facility with a capacity of approximately 60,000 metric tons. The company employs 5,500 people.

“Ukrprominvest-Agro” is engaged in crop cultivation, sugar and flour production, and meat and dairy livestock farming. The group’s land bank exceeds 116,500 hectares. The agricultural holding is located primarily in regions that have not been invaded by Russian occupiers.
The group’s sugar business consists of two sugar factories in the Vinnytsia region. Total grain storage capacity for agricultural crops is 120,000 metric tons.

“Ukrprominvest-Agro” comprises “Agroprodinvest Group” LLC, “PK Podillya” PJSC, PK Zorya Podillya LLC, Vinnytsia Bakery Products Plant No. 2 LLC, Dniproagrolan Agricultural Farm, Ivankivtsi Agricultural Farm, Mas-Agro LLC, Pravoberezhne LLC, and Progress-NT LLC.
Since December 2019, the agricultural holding has been owned by Oleksiy Poroshenko, the son of the former president of Ukraine.

In 2025, the “Podillya” Food Company saw its revenue decrease by 39.5%—to 3.18 billion UAH—and its net profit decrease by 36.1%—to 698.8 million UAH.

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“DTEK Networks” modernized 37 substations and transformer stations in first half of year

Distribution system operators (DSOs) at DTEK Networks reconstructed seven transformer stations and 17 substations between January and June 2026, and built 13 new transformer stations in Kyiv, Kyiv, Dnipropetrovsk, and Odesa regions.

“This is 1.5 times more than during the same period last year,” the operating holding company reported on Thursday.

Energy companies continue to upgrade infrastructure and prepare the grids for peak loads, particularly during the fall and winter months.

DTEK Networks noted that the scope of the investment program is approved annually by the state regulator, the NEURC, for all operators. At the same time, the holding’s distribution system operators repaired nearly 2,000 km of overhead lines and 4,600 km of underground cables in the first half of 2026, and restored nearly 3,000 power facilities.

In addition, to reduce the risk of accidents and ensure a reliable power supply for households, specialists cleared 5,000 km of overhead line corridors of trees and shrubs.

“In total, we plan to invest over 6.7 billion UAH in network upgrades in 2026. This will allow us to build a safety margin for the upcoming heating season,” said Alina Bondarenko, CEO of DTEK Networks.

The company added that the development and modernization of infrastructure also create the necessary technical capabilities for connecting new customers.

“DTEK Networks” operates in the electricity distribution and power grid operation sectors in Kyiv, Kyiv, Dnipropetrovsk, Donetsk, and Odesa regions. The DTEK Group’s distribution system operators serve 5.1 million households and 150,000 businesses.

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TAScombank Launches New Mobile App with Over $2 Mln in Investment

TAScombank is launching a new mobile app for individual customers in August 2026; development costs have already exceeded $2 million, according to the bank’s chairman, Volodymyr Dubey.

According to him, the final cost of the project has not yet been determined, as work on the app is still ongoing.
“We haven’t been developing our apps for the past two years because we’re transitioning to a new one. There’s no point in investing money in an old app that runs on an outdated platform,” Dubey said in an interview with Liga.net.

The new app is also intended to be part of the bank’s preparations for the implementation of Open Banking, which could intensify competition among banks and expand customers’ ability to use the services of multiple financial institutions simultaneously.
TAScombank previously developed sportbank as a separate digital brand for retail customers. In its final year of operation, the project became self-sustaining and began to generate a small profit, and the bank’s investment in it has almost completely paid off, Dubey noted.

He estimated the cost of launching a full-fledged fintech project, including app development, at at least $10 million.
According to the National Bank, as of June 1, 2026, TAScombank, with total assets of 56.45 billion UAH, ranked 15th among Ukraine’s 58 solvent banks.

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“Agromat” has begun placing new bond issue worth 100 mln UAH

Agromat LLC, an industrial and technical company that began a public offering of three-year Series “J” bonds worth 100 million hryvnia in late July, launched a similar offering of Series “K” bonds worth another 100 million hryvnia on August 5.

According to the company’s filing with the National Securities and Stock Market Commission (NSSMC), the interest rate on the bonds—which have three-month coupons—is 16% per annum for the first six months, and for each subsequent six-month period through July 2029, it is 3-month UIRD (Ukrainian Index of Interest Rates on Deposits for Individuals) +4.9 percentage points.

Bonds with a face value of 1,000 UAH will be placed at par through the PFTS exchange, with the state-owned Ukrgasbank acting as the investment firm. The public offering of the bonds is limited to qualified investors and will run from August 5 to October 4, 2026.
The nominal interest rate for the previous “J” series issue, registered by the National Securities and Stock Market Commission on July 17 of this year, is set at 16% per annum for the first six months of circulation. The public offering period runs from July 29 to September 21, 2026.

It is noted that Agromat corporate bonds of Series “H,” “I,” and “J” are currently in circulation, each with a total face value of 100 million UAH.

Agromat, established in 1993, manufactures and sells ceramic tiles and bathroom fixtures. It operates through 33 retail locations in 21 cities across Ukraine and online at agromat.ua. According to the YouControl analytical system, the company’s co-owners, each holding a 28.65% stake, are CEO Serhiy Voitenko, Oksana Reva, and Anatoliy Taday; an additional 10.05% is owned by Olga Bashota, and 4% by Nadiya Rushelyuk.

According to information on its website, based on the results for 2025, PTK LLC “Agromat” increased its net revenue by 5.2% compared to the previous year—to 3.59 billion UAH—and its net profit by 91.4%, to 148 million UAH. In the first half of 2026, net revenue grew by 20.2% compared to the same period last year—to 1.9 billion UAH, while the net loss amounted to 177.5 million UAH, compared to a net profit of 87.1 million UAH a year ago.

As of June 30, 2026, the Agromat Group’s creditors include Raiffeisen Bank—UAH 199 million at 14.9%, Pivdenny Bank—UAH 30 million at 16.5%, OTP Bank—UAH 90 million at 16.5%, Crédit Agricole—78 million UAH at 14.25%, Kredobank—75.1 million UAH at 15.5%, and ProCredit for a total of 185.8 million UAH at rates ranging from 3.76% to 15.5%.

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Turkish company Aydem Holding A.S. will build up to 100 MW of renewable energy facilities in Kyiv region

The Kyiv Region Regional Development Agency has signed a memorandum of cooperation with Aydem Holding A.S., one of Turkey’s largest energy investors, regarding the construction of up to 100 MW of renewable energy capacity in the region.

According to a post by the Agency on LinkedIn on Thursday, it will provide comprehensive support to the investor at all stages of the project’s implementation, including identifying the optimal land plot, engaging with local communities, and coordinating with government authorities. Project support will be provided in collaboration with UkraineInvest.

“Our goal is to make the Kyiv region one of the most attractive regions for international investors, where large-scale investment projects are implemented quickly, transparently, and effectively,” commented Nazarii Volyanskyi, director of the Agency.

According to him, the partnership with Aydem Holding A.S. will mark the beginning of new large-scale investments, contribute to the development of the region’s energy infrastructure, and strengthen the Ukrainian-Turkish economic partnership.

The holding company’s website states that it has been operating in the fields of electricity generation, distribution, and retail for 40 years, applying an innovative approach in the energy sector. The primary focus is on renewable energy: hydro, wind, and geothermal sources.

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Ukraine Wants to Restore Pre-War Trade with Azerbaijan

Ukrainian Foreign Minister Andriy Sibiga stated that Kyiv wants to restore pre-war levels of bilateral trade with Azerbaijan, which currently stands at about $600 million.

According to a correspondent for “Interfax-Ukraine,” Sibiga made this remark at a joint press conference with his Azerbaijani counterpart, Jeyhun Bayramov

“We have set ourselves the goal of returning to pre-war levels in terms of trade. We have now reached about $600 million,” said the minister.

In this context, the foreign ministers agreed to work toward holding the next meeting of the Ukrainian-Azerbaijani Intergovernmental Commission on Economic Cooperation in Ukraine.

The parties held detailed talks on the bilateral and international agenda, Ukraine’s preparations for the winter season, and strengthening energy security in the region.

“Over the past year and this year, we have seen a new dynamic in the strategic partnership between Ukraine and Azerbaijan, with increased contacts at all levels. We view your visit as yet another element of this new and positive dynamic,” noted the Ukrainian diplomat.

The parties paid particular attention to the development of mutually beneficial economic, investment, and humanitarian cooperation. Sibiga stated that Ukraine values investments by Azerbaijani companies and looks forward to expanding their presence and implementing new joint projects.

The diplomats also discussed regional security issues in the South Caucasus and the Middle East. Andriy Sibiga briefed his Azerbaijani counterpart on Ukraine’s peace efforts and highlighted Azerbaijan’s important role in promoting peace and ensuring regional stability.

“We appreciate Azerbaijan’s principled stance in support of Ukraine’s territorial integrity and sovereignty. Ukraine has also always supported and continues to support Azerbaijan’s sovereignty and territorial integrity. This is a constant in our relations,” emphasized the head of Ukraine’s Ministry of Foreign Affairs.

Sybiga expressed gratitude to Azerbaijan, President Ilham Aliyev, and the entire Azerbaijani people for their assistance to Ukraine from the very first days of the full-scale invasion.

“The restoration of civilian infrastructure in Irpin, humanitarian aid, equipment for energy facilities, and much more. We will always remember this,” he assured.

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