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.
The National Bank of Ukraine has maintained its forecast for the fruit and berry harvest in 2026 at 1.77 million tonnes, corresponding to the previous year’s figure. This is stated in a study by the Experts Club information and analytical center.
Unlike potatoes and vegetables, for which production forecasts were significantly downgraded, the estimate for this year’s fruit and berry harvest remained unchanged.
At the same time, compared with the pre-war period, Ukrainian horticulture continues to demonstrate lower production volumes.
In particular, 2.24 million tonnes of fruit and berry crops were harvested in 2021, compared with 2.02 million tonnes in 2024 and 1.77 million tonnes in 2025.
Thus, the projected harvest for 2026 will remain approximately 21% below the 2021 level and 12.4% lower than the 2024 figure.
The National Bank has also slightly lowered its forecast for fruit and berry production in 2027, from 1.90 million to 1.87 million tonnes.
The revision amounts to 30,000 tonnes, or approximately 1.6%.
At the same time, compared with the expected result for 2026, the NBU forecasts an increase in fruit and berry production of 100,000 tonnes, or approximately 5.6%.
Thus, the regulator expects a moderate recovery in production in this segment of the agricultural sector next year.
The restoration of perennial plantations, modernization of cold storage facilities, and expansion of fruit and berry processing remain important for the further development of horticulture.
Unlike most annual agricultural crops, the establishment of commercial orchards and berry plantations requires significant initial investments and a long payback period.
Therefore, the industry’s development prospects will largely depend on the availability of financing, investments in cultivation technologies, and opportunities to sell products in domestic and foreign markets.
BERRIES, EXPERTS CLUB, HARVEST, HORTICULTURE, PRODUCTION, UKRAINE
The National Bank of Ukraine has lowered its forecast for the vegetable harvest in 2026 from 8 million to 7 million tonnes, which is 12.5% below the previous estimate.
As noted in a report by the Experts Club information and analytical center, based on the NBU’s October Inflation Report published on November 6, 2026, lower potato and vegetable harvests negatively affected agricultural performance indicators.
Compared with 2025, when Ukraine harvested 8.2 million tonnes of vegetables, the projected decline in production amounts to 1.2 million tonnes, or 14.6%.
For comparison, the gross vegetable harvest amounted to 6.8 million tonnes in 2024 and 9.9 million tonnes in the pre-war year of 2021.
Thus, expected production in 2026 remains 2.9 million tonnes, or 29.3%, below the pre-war level.
At the same time, the NBU’s updated forecast for 2027 also envisages lower production volumes than previously expected.
In particular, the vegetable harvest forecast for next year has been reduced from 8.1 million to 7.4 million tonnes, or by 8.6%.
Compared with 2026, this would mean a possible increase in production of 400,000 tonnes, although the harvest volume would still remain significantly below the 2021 level.
A reduction in vegetable production may create additional risks for the food market, particularly given the highly seasonal nature of supplies and the need for long-term storage of some products.
At the same time, the impact on prices of individual types of vegetables may vary significantly depending on the harvest of a particular crop, its quality, the availability of stocks, and import volumes.
According to the State Statistics Service, vegetable prices fell by 2.3% in September 2026 compared with August, demonstrating the impact of a seasonal increase in supply on consumer prices.
For Ukrainian vegetable producers, the main areas for improving resilience remain the development of irrigation, modernization of vegetable storage facilities, expansion of greenhouse production, and processing.
At the same time, the final results of the 2026 vegetable season will depend on the outcomes of harvesting and the revision of official agricultural statistics.
agricultural sector, EXPERTS CLUB, HARVEST, PRODUCTION, UKRAINE, VEGETABLES
PJSC “Kharkiv Tile Plant” (KTP) reported a net profit of 33 million UAH for January–September 2026, which is 2.2 times less than in the same period last year, while in the first half of the year it reported 20 million UAH.
According to the company’s report filed with the National Securities and Stock Market Commission (NSSMC), based on figures for the first six and nine months of 2026, net profit in the third quarter amounted to 13 million UAH, which is 2.2 times less than in the third quarter of last year.
Kharkiv Plant’s revenue for the first nine months of 2026 decreased by 11.2%, to 920.3 million UAH. In the first half of 2026, the company’s revenue decreased by 18.7% compared to the first half of 2025, to 506.2 million UAH; accordingly, in the third quarter, revenue decreased by 0.08% and amounted to 414.1 million UAH.
The company’s gross profit for January–September 2026 decreased by 54.7% compared to January–September 2025, to 119.3 million UAH, while profit from operating activities decreased by 55.7%, to 43.6 million UAH.
The company’s retained earnings for the nine-month period decreased by 1.3% to 1.29 billion UAH. Long-term liabilities during the reporting period decreased by 30.1% to 62.4 million UAH, while current liabilities increased by 2.1% to 1 billion UAH. The company’s assets decreased by 0.9% to 2.38 billion UAH.
According to the report, the Kharkiv Tile Plant produced 1.6 million square meters of ceramic tile worth UAH 324.9 million in January–September 2026. During this period, the company sold 1.6 million square meters of products worth UAH 329.8 million.
Based on figures for the first six months of 2026, in the third quarter the company produced 178,700 square meters of ceramic tile worth 15.8 million hryvnias and sold 315,000 square meters of products worth 26.6 million hryvnias. It is noted that currently, out of eight continuous conveyor lines, only two are in constant operation, while two others were operating temporarily.
According to the National Securities and Stock Market Commission (NSSMC), as of September 2026, the company’s main shareholder is “Golden Tile Ceramic Group” LLC (98.4%). The ultimate beneficiary of Kharkiv Tile Plant (KTP) is Valentin Shevetovsky.
Kharkiv Tile Plant (KTP), Ukraine’s largest tile manufacturer, began operations in 1946. It is part of the “Golden Tile Ceramic Group” (Kyiv), established in 2008, which also includes “Shakhtobud Production Association” LLC (Verolyubivka, Donetsk Oblast), “Maidan-Vilsky Quarry” LLC, “Maidan-Vilsky Refractory Plant” LLC (both in Khmelnytskyi Oblast), and “Golden Tile” LLC (Kyiv, the exclusive distributor of Kharkiv Tile Plant). The company’s total production capacity is 24 million square meters of products per year.
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
The Kametstal plant, part of the Metinvest Mining and Metallurgical Group and operating at the facilities of the Dniprovsky Metallurgical Combine (DMC, Kamyanske, Dnipropetrovsk Oblast), reported a net loss of 792.933 million UAH for January–September of this year, whereas in the same period last year, it posted a profit of 1 billion 345.153 million UAH.
According to the company’s interim report, available to the Interfax-Ukraine news agency, the loss in the third quarter amounted to 350.683 million UAH.
Revenue from ordinary operations for this period increased by 11.8% to 47,444.227 million UAH.
The accumulated loss as of the end of September stood at 2,341.094 million UAH.
The report states that on the night of September 5, 2026, Russia launched a ballistic strike against the plant. Five people were killed and four employees were injured as a result of the attack. The attack damaged the plant’s sinter and blast furnace production facilities, as well as its energy and transportation infrastructure. The plant was forced to completely halt all production processes. Restoration work is currently underway at the facility. Following an inspection of the equipment and infrastructure, an assessment of the extent of the damage was conducted, and further steps toward resuming production were determined. The timeline for restarting production processes and resuming production is currently unknown.
Against the backdrop of shelling of industrial facilities and the blockade of Black Sea ports, a 30% increase in freight rates by Ukrzaliznytsia, and a worsening situation in the European market, the company is forced to make difficult decisions. These include a significant reduction in administrative costs, the optimization of business processes, and a reduction in administrative and management staff—primarily in those areas of operation where work has been substantially curtailed. This is a necessary step to preserve production and thousands of jobs. The company will do everything possible to support the laid-off employees. They will receive severance pay and will be offered available positions in the production divisions.
The challenges Ukraine faces due to the war are hindering the stability and further development of its economy and financial sector. Consequently, the Company’s operating environment remains challenging. The duration and consequences of the war cannot be reliably predicted.
As reported, in the first quarter of 2026, the plant’s net loss increased 13.3-fold compared to the same period last year—to 1 billion 421.376 million UAH from 107.083 million UAH, while revenue from ordinary operations for this period rose by 17.7%—to 17,356.948 million UAH.
In the first half of this year, Kametstal reported a net loss of 137.457 million UAH, whereas in the same period last year it posted a profit of 633.921 million UAH; revenue rose by 38.2% to 36.764577 billion UAH.
In 2025, the plant posted a net profit of 961.340 million UAH, whereas it ended 2024 with a net loss of 237.705 million UAH. At the same time, revenue from ordinary operations for the past year increased by 12.2% to 58 billion 780.443 million UAH.
The plant ended 2024 with a loss of 237.705 million UAH, whereas in 2023 the loss amounted to 912.333 million UAH. The plant ended 2022 with a net loss of 883.119 million UAH, whereas in 2021 it reported a net profit of 120.277 million UAH.
“Kametstal” was established on the basis of PrJSC “Dniprovsky Coke and Chemical Plant” (DKKhZ) and the Central Metallurgical Complex of PJSC “Dniprovsky Metallurgical Combine” (DMK).
According to data from the National State Register as of October 23, 2026, Metinvest B.V. (Netherlands) owns 100% of the company’s shares.
The authorized capital of PJSC “Kametstal” is 170.584 million UAH.
