In 2026, JSC “Ukrenergomashiny” plans to invest approximately 60 million UAH in production development, specifically for the purchase of new equipment, major repairs and modernization of existing equipment, and the provision of technological equipment for workplaces.
“The total planned capital investment for 2026 amounts to UAH 60 million. Funding will be provided from the company’s own funds,” according to the company’s 2025 financial report published in the disclosure system of the National Securities and Stock Market Commission.
In particular, it is planned to allocate UAH 33.5 million in investments to improve the technical level of mechanical assembly, metallurgical, and welding operations, installation work, and equipment modernization; UAH 12.4 million toward the development of auxiliary production and laboratory facilities, office equipment, and tools, and UAH 14 million toward design, research, development, and technological work.
As reported, in 2025, Ukrenergomashiny increased its net revenue by nearly 33% compared to 2024—to 1.06 billion UAH—and its net profit by 3.5 times, to 3.07 million UAH.
According to the report, exports accounted for 70.7% (nearly UAH 770 million), including shipments to Kazakhstan, India, Armenia, Bulgaria, and Hungary.
Last year, in particular, a steam turbine was delivered for the Aksu TPP and power equipment for the Ekibastuz Thermal Power Plant (Kazakhstan), a set of power equipment for the Kozloduy NPP (Bulgaria) and the Armenian NPP, and sets of power (turbine) equipment for the Bandel TPP (India).
Domestic customers were supplied with equipment for the Khmelnytskyi, Rivne, and South Ukraine NPPs, as well as the Dobrotvor, Trypillya, Zmiiv, Kryvyi Rih, Burshtyn, and Darnytsia TPPs, and the Kremenchuk HPP.
Motor equipment was supplied, in particular, to Tatra-Yug LLC (83 traction electric motors), the Kryukiv Electric Locomotive Plant (18 induction generators), and Ukrzaliznytsia (41 induction generators).
JSC “Ukrenergomashiny” (formerly JSC ‘Turboatom’ and “Elektrovazhmash”) is Ukraine’s sole manufacturer of turbine equipment for hydroelectric, thermal, and nuclear power plants. It also manufactures, in particular, electric motors for rail and urban transport (the “Elektrovazhmash” product line).
As of early 2026, the company employed 2,169 people.
At the same time, the report notes that, in accordance with orders from the CEO, under martial law conditions—taking into account the state of production, its supply of material and energy resources, and with the aim of rationally utilizing working hours and financial resources—a part-time work schedule has been established for the company’s employees.
“Employees of JSC ‘Ukrenergomashiny’ work according to schedules based on the company’s needs,” the document states.
Raw milk production in Ukraine in January–March 2026 fell by 10% compared to the same period in 2025—to 1.31 million tons, the Association of Milk Producers (AMP) reported, citing data from the State Statistics Service.
The industry association noted that in March 2026, farms of all categories produced 496,200 tons of milk, which is 10.7% less than in March 2025. At the same time, the industrial sector showed growth: enterprises produced 285,800 tons of raw milk (+4.9%), while private farms saw a 25.8% drop in production to 210,400 tons.
“Milk producers are under pressure from lower purchase prices and rising production costs. The spike in oil prices due to the conflict in the Middle East has led to higher logistics costs. Natural gas prices have also risen, triggering higher prices for nitrogen fertilizers. In particular, urea prices rose by nearly 50% year-over-year due to Iran’s blockade of shipping through the Strait of Hormuz,” the UAM reported.
The association’s analysts emphasized that labor shortages, security risks, energy supply issues, and limited access to credit remained among the key obstacles for businesses in March. The situation is particularly critical in the Kharkiv region, where farmers are forced to evacuate their farms or abandon planting due to constant shelling and the mining of fields.
The UAA emphasized that an additional challenge is adapting to the new requirements of the EU’s Common Agricultural Policy for 2028–2034. The European approach involves moving away from payments per hectare or head of livestock in favor of meeting environmental KPIs (soil protection, biodiversity).
“The new architecture of the EU’s agricultural policy requires Ukrainian producers to incur significant modernization costs. Amid martial law and milk prices below cost, farmers urgently need state support. Currently, 10–15% of small and medium-sized dairy farms are at risk of closure,” the association concluded.
Ukraine and Norway are establishing their first joint production facility for Ukrainian drones. Several thousand mid-strike drones are planned to be manufactured in Norway, with the first deliveries expected by summer, according to the Ministry of Defense’s website.
The agreement was signed in Kyiv by Norway’s Ambassador to Ukraine Lars Ragnar Aalered Hansen and Ukraine’s Deputy Minister of Defense for European Integration Serhiy Boev.
The agreement also provides for the development of comprehensive industrial cooperation, including research.
The project will be funded by the Norwegian side. In total, Norway plans to allocate over $1.5 billion this year to purchase Ukrainian-made weapons for the Ukrainian Armed Forces.
The first systems manufactured in Norway are expected to be delivered to Ukraine as early as this summer.
“Norway gains the opportunity to produce technologies that have proven their effectiveness, while Ukraine receives the drones necessary to seize the initiative on the front lines. This is a true win-win partnership,” noted Ukrainian Defense Minister Mykhailo Fedorov.
In turn, Tore Onshuus Sandvik emphasized that “supporting Ukraine’s fight is the most important thing we are doing for Norway’s security. This is a collaboration that benefits both countries.”
According to him, the experience gained through this project will allow Norway to expand its production capabilities in a critically important area.
The Ministry of Defense notes that mutually beneficial technological and industrial cooperation with partners is one of Ukraine’s top priorities.
Ferrexpo plc, a mining company with primary assets in Ukraine, produced 524,926 thousand tons of pellets in January–March of this year, which is 61% lower than in January–March of last year (1,347,749 thousand tons), but 27% more than in Q4 2025, when 412,867 thousand tons were produced.
According to the company’s press release on Wednesday, total production of commercial products (pellets and iron ore concentrate) in Q1 2026 fell by 72% compared to Q1 2025—to 592,751 thousand tons. Specifically, production of premium-grade Fe67% concentrate amounted to 67,825 thousand tons, compared to 777,718 thousand tons in Q1 2025 (a 91% decrease). The company also produced 524,926 thousand tons of premium-grade pellets (a 52% decrease). Meanwhile, no DR pellets (81,787 thousand tons were produced in Q1 2025) or other pellets (160,913 thousand tons) were produced.
The press release explains that Ferrexpo’s production activities were largely suspended in the first quarter due to nationwide attacks on Ukraine’s electricity generation and transmission infrastructure. Production resumed only with limited operations at reduced capacity levels in late February 2026 following improved electricity availability and prices. The Group continues to operate one of its four pelletizing lines and sell its products to European customers.
As noted in the trading update announced on April 1, 2026, the Group focused on carefully managing its working capital and expenses amid challenging operating conditions. This included reducing employee working hours, continuously cutting purchases of goods and services, and further suspending all non-essential capital expenditures, overhead costs, and corporate social responsibility (CSR) expenses.
The company continues to closely monitor its cash position and working capital and remains actively exploring and refining a range of potential financing options, which may include raising equity capital. At this stage, there is no certainty that the Group will successfully secure such financing options. If the withholding of VAT refunds continues and financing issues are not resolved in a timely manner, this could result in significant adverse consequences for the Group.
Commenting on the Group’s performance, interim acting chairman Lucio Genovese (Lucio Genovese) noted that the lower production figures in the first quarter of 2026—nearly half of those achieved in the last three months of 2025—reflect Russia’s targeted attacks on Ukraine’s energy infrastructure at the end of last year and their impact on the company’s ability to operate stably.
“Until January, given that electricity supply could not be secured on a stable basis in the necessary volumes, we were forced to make the difficult decision to temporarily suspend operations and send part of the workforce on leave. Fortunately, by the end of February, we saw sufficient improvement in the availability and price of electricity to resume limited production at the PGZK on one pellet production line. One line remains in operation, and the group continues to use its own fleet of railcars for exports to customers in Eastern and Central Europe. “Going forward, we will focus on managing working capital and costs in this challenging operating environment,” said Genovese.
As reported, Ferrexpo produced 3,221,461 metric tons of pellets in 2025, which is 47% lower than in the previous year (6,070,541 metric tons). At the same time, total production of commercial products (pellets and iron ore concentrate) in 2025 decreased by 9% to 6,141,759 thousand tons. In particular, commercial concentrate output amounted to 2,920,298 thousand tons compared to 709,803 thousand tons, respectively. The company also produced 81,787 thousand tons of DR pellets (489,720 thousand tons in 2024) and 3,139,674 thousand tons of premium-grade pellets (a 44% decrease).
In 2024, Ferrexpo increased pellet production by 58% compared to 2023—to 6,070,541 thousand tons from 3,845,325 thousand tons. In 2023, the company produced 3.845 million tons of pellets, which is 36.5% less than in 2022.
Ferrexpo owns a 100% stake in Yeristivsky GOK LLC, 99.9% in Bilanivsky GOK LLC, and 100% of the shares in Poltavsky GOK PJSC.
Ukrainian steelmakers increased pig iron output by 5.9% in January–March 2026 compared to the same period last year, reaching 1.802 million tons.
According to information from the Ukrmetallurgprom association on Thursday, 690,200 tons of pig iron were produced in March, compared to 561,900 tons the previous month and 549,900 tons in January.
As reported, Ukraine’s metallurgical enterprises increased pig iron production by 11.2% in 2025 compared to 2024, reaching 7.884 million tons.
In 2024, Ukraine increased pig iron production by 18.1% compared to 2023—to 7.090 million tons.
In 2023, Ukraine reduced pig iron production by 6.1% compared to 2022—to 6.003 million tons.
In 2022, the country reduced pig iron production by 69.8% compared to 2021—to 6.391 million tons.
In 2021, before the war, 21.165 million tons of pig iron were produced.
Agricultural production in Ukraine increased by 1.7% in January–February 2026 compared to the same period last year, according to the State Statistics Service (SSS).
According to the agency’s data, the growth was driven exclusively by the livestock sector (index 101.7%), while data on crop production for this period are traditionally unavailable.
The main driver was agricultural enterprises, which increased production by 8.9%. The best performance in this segment was shown by enterprises in the Donetsk (index 162.5%), Lviv (132.9%), and Volyn (135.0%) regions. Overall, growth among enterprises was recorded in 20 regions.
In contrast, a decline was observed in private households: production volumes fell by 14.8% compared to January–February 2025. The largest declines in the private sector were recorded in the Donetsk (index 35.3%), Ternopil (50.9%), and Zakarpattia (63.8%) regions.
Regionally, across all categories of farms, the largest declines in production volumes were recorded in Donetsk (index 60.5%), Zakarpattia (68.3%), and Chernivtsi (82.9%) regions. At the same time, the leaders in overall growth were Vinnytsia (+22.9%), Lviv (+22.7%), and Kirovohrad (+7.6%) regions.
As reported, in January 2026, agricultural production in Ukraine increased by 3.2% compared to January 2025. Thus, over the course of two months, the growth rate slowed slightly.
