PJSC “Kryukiv Railway Car Building Plant” (Kryukiv Car Plant, Poltava region) ended the first quarter of 2026 with a loss of UAH 47.56 million, whereas for the same period in 2025, net profit amounted to UAH 3.34 million.
According to the company’s interim report published in the NSSMC’s disclosure system, its net revenue fell threefold to UAH 371.12 million.
Exports (to Lithuania) were insignificant (0.46% of total sales).
KVBZ reported a gross loss of UAH 7.5 million compared to a profit of UAH 74.1 million a year earlier, and the loss from operating activities exceeded last year’s figure by 5.5 times—to UAH 70.1 million.
Uncovered losses as of April 1, 2026, amounted to nearly UAH 279 million. KVBZ’s current liabilities reached UAH 3.55 billion, while long-term liabilities stood at UAH 150.9 million.
According to the plant, it sold 74 freight cars in the first quarter, including 61 units in March (3 in January and 10 in February).
The main customers were private companies purchasing freight cars to transport grain crops, petroleum products, and large-sized containers.
According to the company, in January–February (March data is not yet available), KVBZ ranked third among Ukraine’s railcar manufacturers with a 20.3% market share (railcar manufacturers supplied a total of 64 railcars to the market over the two-month period), while the leaders among private enterprises remain DMZ “Karpaty,” KVBZ, and “TAS Dniprovagonmash.”
In January–March, the plant overhauled electric train EKr-1-001, continued repairs on a diesel train, and manufactured passenger cars for Ukrzaliznytsia, which were delivered in April.
At the same time, KVBZ emphasizes that in the first quarter, the Ukrainian freight transportation and railcar manufacturing market remained in a difficult situation, due to military operations and economic difficulties in Ukraine, particularly the decline in industrial production, primarily in the mining and metallurgical sector.
“The decline in exports of ore and metal products due to limited port capacity and logistical complications directly contributed to a reduction in the freight base; existing infrastructure constraints (despite the partial stabilization of maritime corridors, the risks associated with their operation remained high, which held back long-term transport contracts and investments in the purchase of new railcars),” the report notes.
However, according to KVBZ’s assessment, the first signs of stabilization began to appear as early as the end of the quarter, in particular due to the gradual resumption of agricultural exports and the adaptation of logistics routes, which created the conditions for a possible market recovery in the coming periods.
In particular, the plant notes that 3.3 million tons of grain cargo were transported by rail in March—11.4% more than in February 2026 and 36.9% more than in March 2025. The volume of grain shipments in the first quarter increased by 3% to 8.5 million tons.
In export traffic, 2.7 million tons were transported in March—9% more than in February 2026 and 35% more than in March 2025.
According to the company, the market for new freight cars could also be “revitalized” by the decision of the Supreme Court of Ukraine dated February 25 of this year, which upheld the 2021 order of the Ministry of Infrastructure providing for a phased reduction of the maximum service life of freight cars. Ukrmetallurgprom had demanded the order’s repeal.
KVBZ manufactures passenger and freight cars, regional diesel trains, high-speed interregional locomotive-hauled trains, spare parts and bogies for freight cars, and escalators.
As reported, in 2025, the company saw its net revenue decrease by 30.5% compared to 2024—to 2.6172 billion UAH—and recorded a net loss of 184.5 million UAH, whereas in 2024, net profit amounted to 81.1 million UAH. A total of 143 freight cars and 51 passenger cars were sold.
PJSC “Khlibprom Concern” (Lviv), one of Ukraine’s largest bread producers, derived the majority of its revenue in 2025 from bread production, which amounted to UAH 170.18 million, or 76.31% of total sales.
According to the issuer’s annual financial statements published in the disclosure system of the National Securities and Stock Market Commission (NSSMC), other significant sources of revenue included coffee and tea production—UAH 26.81 million (12.02%), the sale of electrical goods—2.61 million UAH (1.17%), and the production of crackers and confectionery—1.41 million UAH (0.63%). Smaller shares of revenue came from the production of other food products (UAH 301,350), flour production (UAH 271,210), and wholesale trade in coffee and food products.
As noted, the daily volume of production and sales of bread, confectionery products, and semi-finished goods in Ukraine and abroad amounts to up to 160 tons.
According to Opendatabot, Khlebprom Concern’s revenue in 2025 increased by 9.5% compared to 2024—to UAH 2.22892 billion. Net loss decreased by a factor of 13.5—to UAH 5 million, compared to UAH 67.57 million a year earlier. Assets at the end of the year amounted to UAH 1.19076 billion, while liabilities decreased by 10.1% to UAH 509.95 million. The company’s authorized capital is UAH 163.55 million.
“Khlibprom Concern” is one of the largest enterprises in the Ukrainian bread market, producing up to 160 tons of products daily: bread, baked goods, confectionery, and semi-finished dough products. Its structure includes five processing plants located in the Lviv and Vinnytsia regions. It owns the Agrola, Bandinelli, 2go, “Lublyanna,” and “Vinnytsiahlib” brands.
The beneficiary of the company is Natalia Antonova.
In January–March of this year, PJSC Zaporizhstal increased its net loss by 2.1 times compared to the same period last year—to UAH 1.373955 billion from UAH 660.923 million.
According to the company’s interim report in the NSSMC’s disclosure system, its revenue from ordinary activities for this period increased by 13.2%—to UAH 19.667141 billion from UAH 17.376525 billion. Retained earnings as of the end of March amounted to 29.917367 billion UAH.
At the same time, Zaporizhstal’s consolidated loss in the first quarter of 2025 amounted to 1.446646 billion UAH, and in the first quarter of 2024—566.486 million UAH. Revenue remained unchanged—the same as in the unconsolidated report.
According to the company’s annual report, Zaporizhstal doubled its net profit in 2025 compared to the previous year—to 1.764886 billion UAH from 880.562 million UAH, revenue from ordinary activities for this period increased by 2.4%—to 72,141.56 million UAH from 70,307.933 million UAH.
Retained earnings as of the end of 2025 amounted to 30,882.574 million UAH.
At the same time, Zaporizhstal’s consolidated profit in 2025 amounted to UAH 1.328605 billion, and in 2024 – UAH 1.593521 billion. Revenue remained unchanged – the same as in the unconsolidated report.
As reported, Zaporizhstal reduced its net profit by 3.1% in the first nine months of 2025 compared to the same period in 2024—to 1.547508 billion UAH from 1.597318 billion UAH, its net revenue for this period increased by 0.9%—to UAH 53.583352 billion from UAH 53.131601 billion.
In 2024, Zaporizhstal reported a net profit of 1.593521 billion UAH, compared to a net loss of 3.899537 billion UAH the previous year. At the same time, revenue in 2024 amounted to UAH 70.307933 billion, compared to UAH 56.428254 billion in 2023. The group’s total workforce as of early 2025 stood at 9,328 employees.
Zaporizhstal ended 2022 with a net loss of 4 billion 864 million 684,828 thousand UAH, whereas in 2021 it reported a net profit of 16 billion 809 million 158,412 thousand UAH.
In 2025, Zaporizhstal increased its rolled steel output by 15.2% compared to the previous year—to 2,794,600 tons from 2,426,700 tons. Steel production amounted to 3,212,200 tons (in 2024 – 2,890,800 tons), and pig iron production – 3,567,800 tons (3,106,300 tons).
Zaporizhstal is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.
Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are PJSC System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
Dniprometiz-TAS LLC (Dnipro), owned by Ukrainian businessman Serhiy Tihipko, reported a net loss of UAH 46.820 million for January-March of this year, compared to a profit of UAH 3.938 million in the same period last year.
According to the company’s interim report, which is available to the Interfax-Ukraine agency, revenue from ordinary activities for the specified period amounted to UAH 802.933 million, compared to UAH 778.319 million for the first three months of 2025.
At the same time, the company’s retained earnings as of the end of March 2026 amounted to 224.955 million UAH.
According to the annual report, Dniprometiz-TAS reported a net profit of UAH 8.961 million in 2025 and UAH 13.963 million in 2024, with revenue from ordinary activities amounting to UAH 3.453737 billion (UAH 3.285688 billion).
As reported, Dniprometiz-TAS reduced its net profit by 2.9% in the first nine months of 2025 compared to the same period last year—to 11.727 million UAH, while net revenue increased by 7.5%—to 2.607402 billion UAH.
In 2024, Dniprometiz-TAS increased its net profit by 47.7% compared to 2023—to UAH 14.197 million from UAH 9.610 million, while net revenue rose by 22.7%—to UAH 3.285688 billion. At the same time, the company’s retained earnings as of the end of 2024 amounted to 263.048 million UAH.
“Dniprometiz” reported a 2.6-fold decrease in net profit for 2023 compared to 2022—to UAH 9.658 million from UAH 24.733 million. Over the past year, net revenue increased by 8.2%—to UAH 2.677836 billion.
Dniprometiz reported a six-fold decrease in net profit for 2022 compared to the previous year—to UAH 25.572 million, while net revenue grew by 1.1%—to UAH 2.474397 billion.
“Dniprometiz-TAS” manufactures metal products from low-carbon steels. The company’s production capacity is 120,000 tons of products per year.
At the general meeting on April 29, 2025, the issue of increasing the company’s authorized capital through an additional contribution by a shareholder was considered. A decision was made to increase the authorized capital by UAH 100 million: from UAH 83,479,696 to UAH 183,479,696 through an additional contribution by T.A.S. Overseas Investments Limited (Cyprus) in the amount of UAH 100 million.
T.A.S. Overseas Investments Limited (Cyprus) owns a 98.6578% stake in Dniprometiz LLC.
The authorized capital of Dniprometiz-TAS LLC remains at UAH 83.480 million.
Pharmaceutical company JSC Galichpharm (Lviv) produced 22.098 million packages of medicines in 2025 and sold finished products worth UAH 1.774 billion.
As the company reported in its financial statements on its website, its net loss in 2025 amounted to UAH 1.151 billion, while at the end of 2024, net profit fell by 39% compared to 2023—to UAH 13.705 million.
As previously reported, the company planned to increase sales by 15% by the end of 2025.
In May 2025, the Commercial Court of Lviv Oblast opened bankruptcy proceedings against the pharmaceutical manufacturer JSC “Galichpharm” based on claims by LLC “Sky-Development” in the amount of UAH 479.262 million. On April 21, 2025, Sky-Development LLC acquired from JSC “Bank ”Finance and Credit“ the rights to claims against JSC ”Galichpharm” under loan agreements and security agreements.
The investment company Sky-Development won an open auction organized by the Deposit Guarantee Fund and acquired the claims of the insolvent JSC Bank Finance and Credit under ten loan agreements with leading Ukrainian pharmaceutical companies: JSC “Galichpharm” and JSC “Kyivmedpreparat.” According to Sky-Development, the total amount of its claims exceeds UAH 3.5 billion.
For their part, Kyivmedpreparat and Galichpharm stated that the information disseminated by Sky Development Investment Company is “unreliable, manipulative, and shows signs of deliberate discrediting of the companies’ activities.” In particular, both companies denied having “multi-billion-hryvnia debts” to “Sky Development.” The pharmaceutical companies viewed the statements by “Sky Development” LLC as “an attempt to illegally and artificially create non-existent creditor debt for a possible future hostile takeover of the companies.”
TAS-Dniprovagonmash LLC (DVM, Kamianske, Dnipropetrovsk Oblast), controlled by the TAS financial and industrial group owned by businessman Serhiy Tihipko, ended January–March 2026 with a loss of UAH 39.67 million, which is 2.4 times higher than the figure for the first quarter of 2025.
According to the company’s published interim financial statements, net revenue fell by nearly four times—to 72.73 million UAH.
No products were exported during this period, and the main customers in Ukraine were ENVIO Ukraine LLC and TAS Poltavavagon.
According to the plant, during this period it reduced freight car production by 4.8 times—to 38 units—and production capacity was utilized at only 5%. Total sales revenue amounted to UAH 140.7 million.
The average selling price of freight cars was 2,460,800 UAH (compared to 2,569,400 UAH during the same period last year).
In terms of total car production in Ukraine in January–March 2026, TAS Dniprovagonmash ranked fourth. Its main competitors are the Kryukiv Carriage Works, DMZ Karpaty, and Ukrzaliznytsia’s plants.
The value of contracts signed but not yet fulfilled as of the end of the first quarter of 2026 was 103.1 million UAH (excluding VAT), and the expected profit from their fulfillment was 6.2 million UAH.
“TAS Dniprovagonmash,” which has the capacity to produce 9,000 railcars per year, reportedly offers the widest range of freight railcars among domestic manufacturers (over 160 models) and also produces metal structures, railcar bogies, spare parts, and equipment for the agricultural sector.
As of April 1, 2026, the plant employed 596 people (744 a year ago).
As reported, in 2025, it reduced freight car production by 8.6% compared to the previous year—to 550 units—and sales by 8.2%, to 556 units. The company incurred a loss of 151.4 million UAH, whereas in 2024 net profit amounted to 62.2 million UAH, and net revenue decreased by 12% to 1.54 billion UAH.
