In January-September of this year, a major Ukrainian glass container manufacturer PJSC Kostopil Glassworks (KZG, Rivne region) posted a net profit of UAH 408.56 million, up 3.6 times compared to the same period in 2022.
According to the company’s interim reports published on its website, net income for the period increased by almost 26% to UAH 1 billion 402 million.
The company’s operating profit grew 3.3 times to UAH 504.2 million, while gross profit increased 2.6 times to UAH 567.1 million.
In January-September, the company mainly sold beverage containers (95% of total sales), which amounted to 259.2 million units for UAH 1 billion 344 million.
According to the information published on Monday in the disclosure system of the National Securities and Stock Market Commission, on December 7, the company’s shareholders intend to approve the transfer deed between JSC and Kostopil Glassware Plant LLC at an extraordinary meeting.
The decision to transform into a limited liability company (LLC) was made at the general meeting of shareholders of KZP JSC on April 28 this year “in order to simplify the management system and minimize the costs associated with servicing a private joint-stock company.”
As of the second quarter of 2023, 19.4639% of KZS PrJSC shares are owned by Dmytro Oliynyk, Chairman of the Federation of Employers of Ukraine, more than 30% of shares are owned by three other members of his family, Bulgarian Fisherman Investments owns almost 22%, and Andriy Rybytskyi owns more than 9%.
The plant produces bottles for perfumery and medical products, as well as bottles for alcoholic and non-alcoholic beverages, and two-liter decanters.
The company, according to its website, is one of the leading industrial enterprises in Rivne region and one of the five largest glass container manufacturers in Ukraine. The company’s capacity allows it to produce 432 million pieces of glass per year.
The company’s main customers are Nemyriv, Khortytsia, Khlibnyi Dar, Pepsi-Cola, and Carlsberg brands.
The products are sold in Ukraine and exported to Poland, Hungary, Romania, Slovakia, Spain, and Moldova.
In 2022, 84% of the company’s products were exported (compared to 49% a year earlier), mostly to Poland and Hungary.
