“Demurinsky Mining and Processing Plant” LLC (MMPP, Dnipropetrovsk Oblast), which extracts titanium and zirconium ores and was confiscated from Russian billionaire Mikhail Shelkov, increased its net loss by 2.5 times in 2025 compared to 2024—to 278.673 million UAH.
According to information from the State Property Fund, net revenue from the sale of products (goods, works, services) last year decreased by 15%—to UAH 154.067 million.
The main type of activity is the extraction of other non-ferrous metal ores (activity code under the Classification of Economic Activities: 07.29).
Demurinsky GOK LLC is one of the largest mining and processing enterprises in Ukraine. Registered on May 30, 2001, the company has been developing the Vovchanske complex placer titanium-zircon deposit in the Dnipropetrovsk region (Northern and Central deposits) since 2006.
Preliminary beneficiation is carried out at the open-pit mine, followed by mineral separation at the processing plant. The reserves of ore sands in the deposit, categorized as B+C1, amount to 22.8 million cubic meters with an average grade of 9%: 1,614 thousand tons of ilmenite, 520 thousand tons of rutile, and 181 thousand tons of zircon.
The company holds a special subsoil use permit for the extraction of titanium-zirconium ores suitable for the production of zircon, rutile, ilmenite, disten-silimanite, and staurolite concentrates. The permit is valid until July 29, 2031. The company also holds permits for discharges, water use for high-risk operations, and others (total number of permits: 23).
Main product range: KDSZ distene-selimanite concentrate; ilmenite concentrate; rutile concentrate; staurolite concentrate; KTSZ zircon concentrate.
The asset (single lot) includes: 100% corporate rights and claims.
As of December 31, 2025, the GZK’s accounts payable amounted to UAH 142.504 million.
The state’s share in the LLC is 100%.
The LLC’s authorized capital is UAH 39,621,414 thousand.
PJSC “Yuzhkoks” (Kamenskoye, Dnipropetrovsk Oblast) reported a net loss of UAH 3,195,470,000 for 2025, up from UAH 272,924,000.
According to the company’s announcement in the NSSMC’s information disclosure system regarding the remote holding of the general meeting of shareholders on April 30, there are nine items on the agenda.
In particular, the meeting is scheduled to review the report of the board of directors and the auditor’s conclusions and adopt relevant resolutions, approve the results of financial and economic activities and the annual report for the past year, cover losses, and preliminarily approve significant transactions, as well as adopt the revised charter.
Draft resolutions, copies of which are available to the Interfax-Ukraine agency, propose covering the losses incurred from operations in 2025, amounting to UAH 3,195,470, using profits from future periods.
As reported, Yuzhkoks increased its net loss by 4.6 times in the first nine months of 2025 compared to the same period of the previous year—to 457.760 million UAH from 98.684 million UAH—while revenue fell by 12.6% to 6.634975 billion UAH. The uncovered loss as of the end of September 2025 amounted to UAH 9.127 million.
“Yuzhkox” increased its net loss by 4.7 times in 2024 compared to the previous year—to UAH 272.925 million from UAH 58.0252 million.
Yuzhkox ended 2022 with a net loss of UAH 1,206.942 million, compared to a net profit of UAH 1,292.672 million reported for 2021.
According to the State Register of Legal Entities as of the fourth quarter of 2025, Dashuria Ltd. (Cyprus) owns 94.9565% of the company’s shares.
The authorized capital of PJSC “Yuzhkoks” is UAH 171.918 million, and the par value of a share is UAH 0.25.
JSC “Lynovychi Sugar Plant ‘Krasnyi’ (Chernihiv region), part of the ”Gals Agro” group, plans to retain a loss of UAH 664,000 incurred as a result of operations in 2025, the company reported in the NSSMC’s disclosure system.
The relevant issue has been included on the agenda of the annual general meeting of shareholders scheduled for April 18. According to the draft resolution, shareholders also intend to approve the results of operations for the past year and hear the supervisory board’s report.
The shareholders will also consider a proposal to grant preliminary consent for significant transactions to be conducted within one year of the decision’s adoption. This refers to transactions whose value exceeds 25.00% of the company’s asset value as per the latest annual financial statements, with a maximum aggregate value of UAH 48.80 million. The list of such transactions includes obtaining loans, credits, and other banking products; pledging or mortgaging property; providing guarantees for third-party obligations; as well as the purchase, sale, rental, and leasing of property.
According to data from the Opendatabot service, JSC “Lynovychi Sugar Plant ”Krasnyi” reduced its revenue by 2.67% in 2025—to UAH 211.28 million—while its debt obligations decreased by 15.97%—to UAH 180.13 million. The company’s assets decreased by 18.13% over the year to UAH 159.82 million, while the number of employees decreased by 6 to 151.
JSC “Lynovychi Sugar Plant ‘Krasnyi’ (Chernihiv Oblast) is part of the ”Gals Agro” agricultural holding and specializes in the production of white crystalline sugar, molasses, and beet pulp. The current sugar beet processing capacity is approximately 2,800 tons per day, which allows the company to process an average of 170,000 tons of raw materials and produce over 23,000 tons of finished products per year.
The beneficiaries of the plant are Serhiy Kravchuk, Vadym Vaisapir, Mykhailo Yevstratov, Volodymyr Havrylenko, and Mykola Havrylenko. The main shareholder of the enterprise, with a 73.38% stake, is Gals Agro LLC.
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.
Shareholders of the Kryvyi Rih Mining and Metallurgical Plant, PJSC “ArcelorMittal Kryvyi Rih” (AMKR, Dnipropetrovsk region), intend to review the results of operations for 2025 and hold elections for members of the supervisory board.
According to the company’s announcement in the National Securities and Stock Market Commission (NSSMC) disclosure system regarding the remote general meeting of shareholders to be held on April 20, there are nine items on the agenda.
The meeting is scheduled to review the reports of the supervisory board and the auditor for 2025 and adopt relevant resolutions. It is planned to approve the results of financial and operational activities for 2025 and approve the procedure for covering losses. Additionally, shareholders plan to terminate the powers of the supervisory board members and elect new ones.
Draft resolutions, copies of which are available to the Interfax-Ukraine agency, propose covering the loss incurred as a result of AMKR’s financial and operational activities in 2025 using future profits.
“ArcelorMittal Kryvyi Rih” is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular rebar and wire rod.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, “ArcelorMittal Kryvyi Rih,” and a number of smaller companies, including PJSC “ArcelorMittal Beryslav.”
JSC “Kremenchuk Steel Works” (KSZ, Kremenchuk, Poltava Oblast), part of the industrial assets of the TAS Group, ended 2025 with a net loss of UAH 148,080,549, whereas profit for 2024 amounted to UAH 369,337,168,
According to KSZ’s announcement in the NSSMC’s disclosure system regarding the remote general meeting of shareholders to be held on April 24, the agenda includes 12 items, among which are the supervisory board’s report for 2025, approval of measures based on the review’s findings, and adoption of relevant resolutions.
It is also planned to approve the company’s annual report and the audit report for 2025, approve the results of financial and economic activities and determine the procedure for covering losses, as well as approve the annual reports for 2023–2024 in their new versions.
In addition, the meeting will approve significant transactions. Shareholders will also terminate the powers of the members of the supervisory board and elect new ones.
Draft resolutions, copies of which are available to the Interfax-Ukraine agency, provide for the approval of the loss for 2024, while shareholders are proposed to cover it using the company’s retained earnings from previous years. No dividends will be declared or paid.
It was previously reported that KSZ recorded a net profit of 369,337,168 UAH in 2024, 131,086,773 UAH in 2023, in 2022—UAH 50.281 million, while the company ended 2021 with a net loss of UAH 56.833 million and 2020 with a loss of UAH 22.81 million.
The Kremenchuk Steel Foundry is Ukraine’s leading foundry specializing in the production of steel castings for freight cars and heavy-duty trucks.
According to the State Registration Service data for the fourth quarter of 2025, Indeko LLC and Nexum Trade LLC each hold 24.2210% of the shares in KSZ JSC, FinEuroVector Financial Company LLC holds 18.8392%, and the financial company “Alfa Cross” holds 24.9%.
The authorized capital of JSC ‘KSZ’ is UAH 132.123 million, and the par value of a share is UAH 0.25.
The “TAS” Group was founded in 1998. Its business interests span the financial sector (banking and insurance segments), industry, real estate, the agricultural sector, and venture projects. The founder and major shareholder of the group is Serhiy Tihipko.
