Agricultural and special-purpose machinery manufacturer JSC “Fregat Plant” (Pervomaisk, Mykolaiv Oblast) saw its losses increase by 77.6% in January–September of this year compared to the same period in 2025, reaching 89.3 million UAH.
According to the company’s financial report, published in the National Securities and Stock Market Commission’s (NSSMC) disclosure system, net sales revenue decreased by 46.8% to 18.7 million UAH.
During this period, the company reported UAH 5.8 million in gross profit (compared to UAH 10.5 million a year ago), while its operating loss increased by 21.2% to UAH 40.4 million.
The accumulated loss as of September 30 stood at UAH 435.9 million.
According to the company’s financial report, in the first half of the year, it increased its loss by 77.3% to 69.4 million UAH, against a 17.4% decline in net revenue to 15.4 million UAH.
Consequently, in the third quarter, the plant sold products worth only 3.4 million UAH—nearly five times less than during the same period last year—while its loss rose by 78.6% to 19.9 million UAH.
“Fregat” notes that the martial law in Ukraine, imposed in connection with Russia’s military aggression against Ukraine, is leading to unstable operations and a reduction in production; the company continues its manufacturing activities, but not all production facilities are operational, and as a result, not the entire range of finished products is being manufactured.
The plant manufactures machinery and equipment for agricultural and forestry engineering, boilers and radiators, as well as specialized machinery. In the third quarter, production of agricultural machinery for crop farming accounted for 12% of total commercial output (89.6% in the first quarter and 22.5% in the second), while other products accounted for 88%.
As of early October, 103 people were employed at the plant. Another 7 people worked at a separate division—the plant’s Dnipro branch—and 73 at the Eastern branch.
As previously reported, in 2025 the plant’s losses increased by 34.4% compared to 2024—reaching 81.2 million UAH—as net income fell nearly fourfold to 47.57 million UAH.
The average number of employees at the plant last year was 121; at the Eastern Branch, 84; and at the Dnipro Branch, 6.
Metinvest Machinery LLC (formerly the Zaporizhzhia Foundry and Mechanical Plant, ZLMZ) increased its net loss 11.3-fold in January–September of this year compared to the same period last year, reaching 330.083 million UAH.
According to the company’s interim report, available to the Interfax-Ukraine news agency, the loss in the third quarter amounted to 93.206 million UAH.
Revenue from ordinary operations for this period totaled 2 billion 999.805 million UAH.
The accumulated loss as of the end of September stood at 1,451.386 million UAH.
As previously reported, Metinvest Machinery posted a net loss of 150.693 million UAH in the first quarter of 2026, compared to a loss of 7.067 million UAH in the same period last year. Revenue from ordinary activities for this period amounted to 1,458.751 million UAH.
In the first half of the year, the LLC reported a profit of 236.877 million UAH, whereas in the same period last year it had a loss of 19.681 million UAH; revenue from ordinary activities for this period amounted to 2,311.222 million UAH.
The accumulated loss as of the end of September amounted to 1,358,333 million UAH.
In 2025, the LLC reduced its net loss by 20% compared to 2024—to 35.314 million UAH from 44.249 million UAH. At the same time, revenue from ordinary operations for this period increased compared to 2024, rising to 301.960 million UAH from 22.261 million UAH.
The report noted, however, that the figures show significant deviations due to the reorganization of the company through the merger of ZLMZ LLC and Metinvest-Kryvyi Rih Repair and Mechanical Plant LLC (KRMP) into Metinvest Machinery LLC. The authorized capital increased by 176.946 million UAH in 2025 due to the business merger.
The number of employees as of the end of 2025 was 3,150 thousand people, compared to 47 people as of the end of 2024.
At the end of 2025, Metinvest consolidated its service operations into a single entity, “Metinvest Machinery,” based at ZLMZ. The actual consolidation of the companies’ assets and liabilities took place on December 1, 2025.
Metinvest Holding LLC owns a 100% stake in Metinvest Machinery LLC.
The authorized capital of Metinvest Machinery LLC is 191.946 million UAH.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. The holding’s main shareholders are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
PJSC “Yuria” (trademark “Voloshkove Pole”) increased its revenue by 17.9% in July–September 2026 compared to the same period last year, reaching 644.53 million UAH.
According to the company’s reports filed with the National Securities and Stock Market Commission (NSSMC), it posted a net loss of 83.67 million UAH for the period, whereas it had reported a net profit of 84.88 million UAH for July–September of last year.
Yuriya’s gross profit for the third quarter rose by 56.9% to 96.45 million UAH, but at the same time, an operating loss of 78.87 million UAH was recorded, compared to an operating profit of 84.91 million UAH in the third quarter of last year.
Among other factors, these results are linked to a significant decrease in other operating income—UAH 10.74 million compared to UAH 145.11 million in July–September of last year—as well as a 60.3% increase in selling expenses, which rose to UAH 137.12 million.
Overall, for the first nine months of this year, “Yuria” increased its revenue by 12.9%—to 1 billion 834.81 million UAH—but reported a net loss of 16.43 million UAH, compared to a net profit of 86.66 million UAH for the first nine months of last year.
Its gross profit rose by 49.7% to 276.26 million UAH, while its operating loss amounted to 6.27 million UAH, compared to an operating profit of 90.02 million UAH last year.
According to the report, while the company had 67.72 million UAH in long-term bank debt at the beginning of the year, by mid-year it had only 1 million UAH in short-term debt, which rose to 180 million UAH by the end of September.
It is noted that over the first nine months of this year, “Yuriya” produced 17.77 thousand metric tons of milk and cream (5.81 thousand metric tons in the third quarter) worth 563.62 million UAH (186.55 million UAH), 456.2 metric tons of 85% butter (171.5 metric tons) worth 158.49 million UAH (60.18 million UAH), and 2.39 thousand metric tons of fresh unfermented cheese (0.87 thousand metric tons) worth 518.02 million UAH (188.11 million UAH).
As for exports, over the first nine months of this year, they totaled 2.08 thousand metric tons worth 222.31 million UAH, or 5.7% of total sales.
According to the report, 49.4% of all casein produced (43.19 million UAH), 42% of 8% sweet curd cheese (9.80 million UAH), 25.7% of 18% and 26% sweet curd cheese (79.62 million UAH), 16.3% of butter (32.00 million UAH), and 5% of ultra-pasteurized milk (40.79 million UAH).
Company management identifies the main risk in the near term as the high likelihood of further damage to energy infrastructure as a result of targeted hostile attacks by the Russian Federation, as well as the aggressor’s attempts to destroy transportation infrastructure.
“A separate, particularly important task is retaining the workforce (given the conscription of a significant number of employees into the Armed Forces of Ukraine and other armed formations, as well as emigration abroad),” the document states.
As previously reported, at an extraordinary general meeting on July 2, 2026, the shareholders of PJSC “Yuria” preliminarily approved the conclusion of significant transactions with JSC “Pivdenny” totaling up to 900 million UAH, including loan and other financial agreements, as well as amendments to existing agreements regarding financing limits, terms, interest rates, and fees.
PJSC “Yuria” is the legal successor to the Cherkasy City Milk Processing Plant, which has a design capacity of 25 metric tons of raw material processing per day. It ranks among the top ten largest Ukrainian milk producers.
The dairy producer, operating under the “Voloshkove Pole” trademark, invested EUR 1.5 million in 2023 to install a Tetra Pak line in order to double its production of ultra-pasteurized milk. In 2024, the company invested EUR 1.6 million in modernizing the production facilities of its enterprises and commissioned a new production line for glazed cheese curds.
The company has two subsidiaries: “Yuria-2”—a network of brand-name stores and kiosks in Cherkasy—and “Yuria-Trans”—a trucking company that delivers raw materials and supplies for processing, products to retail outlets, and provides other transportation services. Its raw material supply area covers the Cherkasy, Kirovohrad, Poltava, Kyiv, and Vinnytsia regions. Milk is collected from over 200 settlements.
The company’s beneficial owners are Oleksandr and Andriy Tabalov.
According to the annual report, “Yuriya’s” revenue in 2025 grew by 27.8%—to 2.20095 billion UAH—while net profit amounted to 62.68 million UAH, compared to a net loss of 121.95 million UAH the previous year.
PJSC “Yuzhkoks” (Kam’yanske, Dnipropetrovsk Oblast) reduced its net loss by 73% in the January–September period of this year compared to the same period last year, bringing it down to 123.608 million UAH.
According to the company’s interim report, available to the Interfax-Ukraine news agency, the loss in the third quarter amounted to 102.237 million UAH.
Revenue from ordinary operations for this period increased by 2.2%—to 6 billion 778.265 million UAH.
The accumulated loss as of the end of September stood at 2,781.482 million UAH.
The report notes that despite the challenges arising from the difficult economic situation in the country, caused by Russia’s military aggression, management continues to ensure the company’s stable operation, is actively working to improve technological processes, is implementing new technologies, and is strengthening the team to achieve our strategic goals.
“In addition, we strive for continuous improvement in the quality of our products, higher social standards, and a healthier environment; we make significant efforts to prevent pollution, which is an integral an integral part of our operations and overall policy, and we are committed to open and ethical cooperation with all our partners, which is the foundation of our company’s success and stable operations,” the report states.
In addition, the report specifies that the main significant events, risks, and uncertainties that occurred during the reporting period and affected the company’s interim financial statements include significant uncertainty regarding the future course of the military invasion, its duration, and its short- and long-term impact on the company; disruptions to logistics routes, limited inventories, and restricted import and export capabilities due to the escalation of hostilities in the southern regions; the energy crisis; labor shortages; economic and legal risks; significant currency fluctuations; and other factors;
As of the date of issuance of these interim financial statements, as a result of the Russian Federation’s military aggression against Ukraine, the Company has suffered losses in production capacity. Specifically, on August 18, 2026, a 32,000 kVA transformer—a critically important piece of energy infrastructure—was destroyed after being struck by an unmanned aerial vehicle. Due to the damage sustained, this facility cannot be repaired. This incident led to a temporary disruption in the power supply and a partial suspension of the Company’s operations. To minimize the negative consequences and ensure business continuity, the Company’s management immediately took the necessary measures to restore the stable functioning of production processes.
The company is reviewing and adapting its business processes to account for current operating conditions. Management continues to monitor the potential impact and will take all possible measures to minimize any negative consequences, the report concludes.
As previously reported, in the first quarter of 2026, Yuzhkoks saw its loss increase 2.1-fold compared to the same period in 2025—to 110.027 million UAH from 226.338 million UAH. Revenue from ordinary operations decreased by 5.6% to 2,176.428 million UAH.
In January–June 2026, the plant reduced its loss by 94.1% compared to the same period last year—to 21.371 million UAH, while revenue increased by 7%—to 4 billion 860.923 million UAH.
In 2025, the plant reported a net loss of 3,195.470 million UAH, compared to 272.925 million UAH in 2024. Meanwhile, revenue from ordinary operations decreased by 12.9% to 8,582.546 million UAH.
Based on its 2024 results, Yuzhkox saw its net loss increase 4.7-fold compared to 2023—to 272.925 million UAH from 58 million 25.2 thousand UAH, and ended 2022 with a net loss of 1 billion 206.942 million UAH, compared to a net profit of 1 billion 292.672 million UAH reported for 2021.
According to the National Depository for Securities (NDS) data for August as of November 2, 2026, Dashuria Ltd. (Cyprus) owns 94.9565% of the company’s shares.
The authorized capital of PJSC “Yuzhkokks” is 171.918 million UAH, and the par value of a share is 0.25 UAH.
PJSC “Centravis Production Ukraine” (Centravis Production Ukraine, Nikopol, Dnipropetrovsk Oblast), a subsidiary of Centravis Ltd., reported a net loss of 137.198 million UAH for the January–September period of this year, whereas in the same period last year, it posted a net profit of 158.111 million UAH.
According to the company’s interim report, available to the Interfax-Ukraine news agency, the loss in the third quarter amounted to 74.387 million UAH.
During this period, net revenue from sales of goods increased by 2% to 4.041663 billion UAH; in the third quarter alone, it amounted to 1.034852 billion UAH.
The accumulated loss as of the end of September stood at 880.251 million UAH.
The report states that in the third quarter of 2026, the company’s sole shareholder decided to dissolve PrJSC “Centravis Production Ukraine” by converting it into an LLC. This decision is aimed at optimizing corporate governance, simplifying corporate procedures, and reducing administrative costs associated with operating as a joint-stock company. As of the date of this report, the transformation process is underway in accordance with the requirements of Ukrainian law.
It is also noted that, effective July 1, 2026, the EU will apply tariff quotas to steel imports in accordance with Regulation (EU) 2026/1384; imports exceeding the quota are subject to a 50% duty. In Category 22 (seamless stainless steel pipes), which includes the company’s main products, Ukraine has been allocated a separate quota of 6,524 metric tons per year, distributed on a quarterly basis.
To mitigate the impact of the quotas, the company monitors quota utilization daily based on TARIC data and, together with its customers, plans a schedule for shipments and customs clearance. In new contracts, the company uses Incoterms DAP or FCA instead of DDP, under which the buyer acts as the declarant and payer of import duties. It also includes in new contracts the right to postpone delivery to the next quarter without penalties.
In the medium term, the company is expanding sales in markets outside the EU, particularly in the Middle East and the Americas; in 2026, it received API 5CRA certification for the oil and gas sector. At the same time, the company is advocating—directly, through the Ukrainian government, and via industry associations—for the restoration of Ukraine’s quota to 2021 levels, particularly during the new allocation of quotas by country, which is expected to take effect on January 1, 2027.
“The company is modeling financial scenarios: exports within the quota, exports exceeding the quota subject to a 50% tariff, and a shift toward other markets. These scenarios, as well as the impact of the Carbon Border Adjustment Mechanism (CBAM), are factored into the 2027 budget: starting in February 2027, importers into the EU will purchase CBAM certificates for imports made in 2026. “The company is assessing the impact of these scenarios on working capital, particularly in terms of securing payment of the duty—which the EU customs authority requires as a deposit once 90% of the quota has been used—as well as on the impairment test for assets,” the report states.
As previously reported, “Centravis” posted a net loss of 61.012 million UAH in Q1 2026, compared to a net profit of 210.208 million UAH in the same period last year. During this period, net revenue from sales of goods increased to 1,419.990 million UAH from 1,255.258 million UAH in Q1 2025.
“Centravis” reported a net loss of 62.811 million UAH in the first half of the year, whereas in the same period last year it posted a net profit of 133.693 million UAH. Net revenue from sales of goods increased by 11.3% to 3 billion 6.811 million UAH.
According to the annual report, Centravis reduced its net profit in 2025 to 154.094 million UAH from 310.045 million UAH in 2024, and net revenue from sales decreased to 5 billion 519.669 million UAH from 5 billion 226.606 million UAH. At the same time, revenue in Ukraine in 2025 amounted to 202.149 million UAH.
Centravis was founded in 2000 and ranks among the top ten largest manufacturers of seamless stainless steel pipes in the world. Its main production facilities are located in Nikopol (Dnipropetrovsk Oblast). In 2023, the company opened a branch in Uzhhorod.
Centravis Ltd. Holding was established on the basis of CJSC “Nikopol Stainless Steel Pipe Plant” and the service and trading companies LLC “Production and Commercial Enterprise ‘YUVIS’.” Its shareholders are members of the Atanasov family.
According to data from the National Securities and Stock Market Commission (NSSMC) for August, as of November 3, 2026, Centravis SA (Centravis AG, Centravis Ltd., Switzerland) owns 100% of the shares of Centravis Production Ukraine PJSC.
The private joint-stock company’s registered capital is 206.895 million UAH, and the par value of one share is 1 UAH.
PJSC “Poltava Mining and Processing Plant” (PGZK, Horishni Plavni, Poltava Oblast), the main asset of the Ferrexpo Group, one of whose major shareholders is businessman Konstantin Zhevago, reduced its net loss by 33.7% in January–September of this year compared to the same period last year—to 1 billion 354.415 million UAH from 2 billion 43.378 million UAH.
According to the company’s interim report, which is available to the Interfax-Ukraine news agency, revenue from ordinary operations for this period also decreased by 40.9%—to 9,571,291 million UAH from 16,204,660 million UAH.
Retained earnings as of the end of September amounted to 678.184 million UAH.
The report states that as of September 30, 2026, the company’s current assets exceeded its current liabilities by 151,000 UAH (September 30, 2025: 8 billion 183.420 million UAH).
The company’s current liabilities include interest-bearing loans totaling 16.0864 billion UAH (September 30, 2025: 14.185334 billion UAH), received from companies within the Ferrexpo group. As of September 30, 2026, the outstanding balance on these loans was $358.572 million.
The report notes that although the company has managed to continue its operations, the war continues to pose a threat to the company’s mining, processing, and logistics operations in Ukraine and represents significant uncertainty regarding the company’s ability to continue as a going concern.
As of September 30, 2026, the company had 3,509 employees (compared to 4,475 as of September 30, 2025).
As previously reported, in the first quarter of 2026, Poltava Mining reduced its net loss by a factor of 2.94 compared to the same period last year—to 406.452 million UAH from 1 billion 196.570 million UAH. Revenue from ordinary operations for this period also decreased by a factor of 2.94—to 2,508.029 million UAH from 7,363.388 million UAH.
In January–June of this year, PGZK reduced its net loss by 51.8% compared to the same period last year—to 781.988 million UAH from 1 billion 623.452 million UAH, Revenue decreased by 47.6%—to 6,185.022 million UAH from 11,805.089 million UAH.
According to the 2025 annual report, PGZK posted a net loss of 15,992.265 million UAH, compared to a loss of 3,153.916 million UAH in 2024; and revenue fell to 20,775,232,000 UAH, compared to 23,707,648,000 UAH in 2024.
According to the 2024 annual report, PGZK reported a loss of 3,153,916 million UAH in 2024, with revenue from ordinary activities amounting to 23,707,648 million UAH; in 2023, the loss was 5,444,659 million UAH, and revenue was 15 billion 65.640 million UAH.
Ferrexpo is an iron ore company with assets in Ukraine. Its main activity is the production and export of iron ore pellets used in steel production.
According to the State Statistics Service’s August data as of November 3, 2026, Ferrexpo AG (Switzerland) owns 100% of the shares in Poltava Mining and Processing Plant.
Poltava Mining and Processing Plant’s authorized capital is 3 billion 87.600 million UAH.
FERREXPO, LOSS, Poltava Mining and Processing Plant, POLTAVA REGION, PRODUCTION
