Piskivsky Glassworks LLC, a manufacturer of clear glass jars and bottles (PZS, Bucha District, Kyiv Region) increased its net revenue from product sales by 19.4% in January–March 2026 compared to the same period in 2025, reaching UAH 438.6 million.
According to the company’s interim financial statements, it ended the first quarter with a net profit of UAH 1.663 billion, whereas a year earlier it had reported a loss of UAH 37.2 million.
The company generated UAH 19 million in gross profit (compared to a loss of UAH 7.7 million in the first quarter of 2025), and operating profit exceeded UAH 2 billion (driven by “other income,” which amounted to UAH 1.8 billion), whereas last year the loss reached nearly UAH 13 million.
The accumulated loss as of March 31, 2026, amounted to UAH 824.8 million, while at the beginning of the year it was UAH 2.487 billion.
According to the report, exports accounted for 77.7% of total sales (nearly UAH 341 million). Among the importing countries are Poland, Italy, Germany, France, Greece, Romania, Turkey, Lithuania, Latvia, Moldova, and Georgia,
The company lists Francesco Arpaia, Saulite Partikas Grupa SIA, and Ferret LLC as its main clients.
In the first quarter, the plant produced more than 78.4 million units of products (including 72.5 million cans and nearly 6 million bottles), which amounts to 375.4 million UAH in monetary terms.
The report notes that following the start of the full-scale invasion, the plant suspended operations; after the furnaces cooled down, work continued from May 2022 to June 2023 to restore production on one of the two furnaces, which was launched in June 2023.
At the same time, it is emphasized that operating only one furnace has implications for the range of finished products: while before the war the plant produced both clear (Flint) and colored (brown and green) glass, it now produces only clear glass.
At the same time, the company managed to increase export shipments again due to changes in the geography of its sales market after they fell in 2023 to 47% of sales volume.
PZS assesses competition in the industry as fierce and notes that some Ukrainian competitor companies, like the Piskivsky Glassworks, have suffered losses and damage as a result of the war.
Among competitors, particularly in the Rivne region, the following are listed: “Consumers-Skl-Zorya” (clear glass bottles and jars), “Kostopil Glass Factory” (glass containers for low-alcohol and non-alcoholic beverages, perfume and canning containers, and liquor bottles), and “Rokytne Glass Factory” (green, brown, and clear glass bottles).
Other manufacturers of similar products include “Malyniivsky Glass Plant” (Chuhuiv District, Kharkiv Region), “Vetropack Gostomel Glass Plant” (Kyiv Region), and “Merefyanska Glass Company” (Kharkiv Region).
Among other challenges facing the industry, the plant cites stagnation amid declining consumer demand in Ukraine, and increased competition and dumping abroad.
“The main task for the next few years is to return to pre-war production volumes, and to do this, we need to resume production at Furnace No. 1,” the report states.
According to the company’s 2025 report, it plans to launch a second glass furnace this year, which will increase production capacity by 75%, enabling it to boost exports and optimize costs.
At the same time, PZS notes, about two-thirds of finished products are planned to be exported to EU countries, where a steady growth in demand for glass containers has been observed over the past few years (an increase of about 5% per year) due to rising interest in environmentally friendly packaging materials.
In 2025, the plant increased its net sales revenue by 12% compared to 2024—to 1.607 billion UAH—while incurring a loss of 227.9 million UAH.
As of the beginning of the second quarter of 2026, the company employed 449 people.
