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
