In January-September 2024, Ukraine’s second largest mobile operator, Vodafone Ukraine (VFU), increased its revenue by 13% to UAH 18.05 billion, while reducing its net profit by 23% to UAH 2.92 billion.
According to the company’s official website, OIBDA increased by 6% to UAH 9.55 billion in the first nine months of operation. The OIBDA margin decreased by 4 percentage points to 52.9%.
The company’s investments also decreased by 10% to UAH 3.41 billion compared to the same period last year.
APRU (average monthly revenue from fixed-line voice services per subscriber) increased by 8.9% to UAH 122.4. The operator’s subscriber base increased by 4.7% to 15.9 million customers.
In the first nine months of 2024, Vodafone Ukraine demonstrated business stability and positive growth in key operating and financial indicators, the company said on its official website.
VF Ukraine attributed the 23% decline in net profit to currency fluctuations.
At the same time, the increase in APRU by 8.9% is due to an increase in the use of mobile services, as well as an increase in the number of fixed-line Internet customers to 270 thousand, which is 16% more than in the third quarter of 2023, the company explained.
“Vodafone Ukraine continues to reinvest its profits in telecommunications infrastructure. The company maintains a high investment rate: UAH 3.4 billion was invested in infrastructure in the first nine months of 2024. Since the start of the full-scale war, Vodafone Ukraine has invested a total of UAH 12.66 billion in Ukraine. The priority areas remain the restoration and maintenance, energy resilience of mobile communications facilities and expansion of network capacity,” the company said.
“Vodafone Ukraine is investing in the development of fixed-line Internet access networks based on modern GPON technology. More than 8,000 apartment buildings in 16 cities of Ukraine are already connected to the energy-efficient network. Over the past three years, Vodafone Ukraine has invested UAH 670 million to expand its fixed network by increasing GPON coverage tenfold. The operator is actively building new service areas in Kyiv, Odesa, Dnipro, Kharkiv, Lviv, Zaporizhzhia, Mykolaiv and Ivano-Frankivsk. In August this year, the company started building energy-efficient networks in Poltava, Chernihiv, Zhytomyr, Lutsk, Rivne and Ternopil.
Vodafone Ukraine reminded that for the second consecutive year, Vodafone mobile Internet has been recognized as the fastest in Ukraine according to the results of Speedtest user tests, and the operator received the prestigious Ookla Speedtest Awards.
The company also continues to develop services based on its IoT network. In August, VF Ukraine and Kyivteplocomunenergo signed an agreement to install NB-IoT-enabled meters in Kyiv. NB-IoT technology ensures reliable connectivity even in difficult places such as basements or underground parking lots. Designed specifically for the Internet of Things, this network supports a large number of simultaneous device connections, making it ideal for large-scale urban or large industrial deployments.
In August 2024, Vodafone Ukraine launched new tariff plans as part of the Roaming at Home concept. Ukrainians can use their home tariff in 28 European countries at no additional cost and without activating services.
“This option is especially valuable for volunteers and military personnel traveling abroad for training and remains popular for both tourist and business trips to Europe,” Vodafone Ukraine said.
It is reported that the company managed to increase its subscriber base by 4.7% compared to the third quarter of last year, to 15.9 million customers, as of September 30, 2024, in both the private and corporate segments.
In September, Vodafone Ukraine started offering numbers with a new code – 075. The additional range of numbers has expanded the choice of desired combinations for new and existing customers.
Vodafone is one of the world’s largest telecommunications companies providing a wide range of services, including mobile voice, data, messaging, fixed broadband and cable TV. The company operates in 15 countries and cooperates with mobile networks in 45 countries. As of June 20, 2024, Vodafone provides services to more than 330 million mobile subscribers, 21 million fixed-line subscribers, 17 million TV subscribers, 17 million broadband subscribers, 17 million TV subscribers and connects more than 187 million IoT devices.
“Vodafone Ukraine is a leading Ukrainian telecommunications company providing 3G and 4G broadband, fixed-line and Internet services. The company serves 15.9 million subscribers. Since December 2019, Vodafone Ukraine has been a part of NEQSOL Holding, a diversified group of companies operating in the energy, telecommunications, high-tech and construction sectors.
Dnipro Switch Plant JSC (DnSZ, Dnipro), a major Ukrainian manufacturer of turnouts for mainline railways, doubled its net profit in January-September to UAH 296.6 million compared to the same period in 2023.
According to the company’s financial report on its website, net sales revenue for the period increased by 47.8% to UAH 1 billion 585 million.
From operating activities, the company earned UAH 394.8 million in profit (up 9.4%), and gross profit amounted to almost UAH 607 million (+19.3%).
According to the company’s report for the first half of the year, its net profit increased by 57.7% to UAH 114.3 million in January-June 2023, while net income increased by 13.6% to UAH 641.3 million.
Thus, in the third quarter of 2024, the plant increased its net profit by 2.4 times year-on-year to UAH 182.4 million, while net revenue increased by 85.8% to UAH 943.6 million.
Founded in 1916, DnSZ currently produces various types of turnouts for mainline and industrial transport, subways, and track superstructure elements.
The company has a full production cycle, including its own design bureau.
The plant ended 2023 with a net profit of UAH 510.86 million, up 52% year-on-year in 2022, with revenue up 77% to UAH 1 billion 790 million.
In 2023, the company shipped 410 turnouts, 2.33 thousand frame rails and 1.59 thousand individual crosspieces.
The share of exports was 10.4%, with the main importing countries being: Germany, the Baltic States, Turkey, and Georgia.
The average number of employees at the plant was 606 at the beginning of this year.
TAS Dneprovagonmash LLC (DVM, Kamianske, Dnipro region), a major Ukrainian railcar manufacturing company controlled by businessman Sergiy Tigipko’s TAS Financial and Industrial Group, ended January-September 2024 with a non-consolidated net profit of UAH 53.86 million, up 5.4% compared to the same period in 2023.
According to the company’s interim reports published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its unconsolidated net income for the period increased by 76.4% to UAH 1 billion 278 million.
The company increased its gross profit by 41.3% to UAH 136.9 million, earning UAH 67.4 million in operating profit (up 26%).
As reported earlier, in the first half of this year, TAS Dneprovagonmash cut its unconsolidated net profit three times year-on-year to UAH 18.85 million, while net income increased by 37.8% to UAH 796.5 million.
Thus, in the third quarter of 2024, the company received UAH 35 million of unconsolidated net profit against a loss of UAH 6.8 million in July-September 2023, while net income increased 3.3 times to UAH 481.46 million.
According to the report, in the third quarter, TAS Dneprovagonmash produced 139 freight cars (177 units in the first quarter and 140 units in the second quarter), accounting for 25.2% of the total Ukrainian production (23% in the second quarter), with an average selling price of UAH 2.584 million (UAH 2.215 million in the second quarter).
No products were exported in the third quarter.
As reported, in 2023, TAS Dneprovagonmash produced 378 freight cars (including for the EU market), which is 34.8% less than in 2022, while sales decreased by 40.6% to 370 units. Non-consolidated revenue decreased by 2.8% to UAH 1 billion 77 million, while net profit increased slightly to UAH 49.2 million.
TAS Group was founded in 1998 by businessman Sergey Tigipko. Its business interests include the financial sector (banking and insurance) and pharmacy, as well as industry, real estate, and venture capital projects.
Aviation company FED JSC (Kharkiv) completed July-September 2024 with a net profit of UAH 85.76 million, which is 3.7 times more than in the third quarter of 2023, with net income growing by 29.4% to UAH 300.27 million.
This result follows from the company’s interim financial statements for January-September, published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), according to which net profit almost halved to UAH 140.32 million and net income decreased by 35.2% to UAH 586.67 million during this period.
For its part, as reported, in the first half of the year, FED reduced its net profit by 4.6 times compared to the same period in 2023 – to UAH 54.56 million, while net income fell by 2.4 times – to UAH 286.41 million.
Thus, the company managed to significantly improve its financial performance in the third quarter.
“Currently, the main significant problems of the Company are military aggression against Ukraine, low solvency of customers and financial and economic instability in the country. All other problems are solved through a “dialogue” with the relevant government agencies in the form prescribed by law,” the report says.
The plant also emphasizes that damage to infrastructure or blockage of transportation routes may lead to further delays in production and logistics, which will negatively affect its operating performance.
“In the context of the economic crisis, the credit burden is growing, which may affect FED’s ability to finance current expenses and make investments,” the document says.
The company also considers uncertainty in foreign markets to be a significant risk factor.
“FED is one of the leading enterprises in Ukraine, specializing in the development, production, maintenance and repair of aviation, space and general engineering units.
According to the report, as of October 1, 2024, the company employs more than 1030 people.
As reported, in 2023, FED increased its net profit by 2.2 times compared to 2022, to UAH 318.33 million. Net income almost doubled to UAH 1 billion 127 million.
In January-September 2024, Nova Poshta, the leader in express delivery in Ukraine, reduced its net profit by 1.9 times compared to the same period in 2023, to UAH 1.65 billion.
According to the company’s interim financial statements for January-September, published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), net income increased by 16.4% to UAH 30.81 billion.
At the same time, the company’s gross profit increased by 6.4% to UAH 5.86 billion, while operating profit decreased by 10.5% to UAH 2.44 billion.
In the first nine months of 2024, the number of delivered parcels and cargoes amounted to 336 million, which is 16% more than in the same period in 2023.
“In January-September, Nova Poshta opened 5,518 new branches and post offices. The network grew all over Ukraine, including in the frontline areas, where 126 new branches and post offices were opened.
During this period, the company paid UAH 6.7 billion in taxes in Ukraine, which is 4% more than in the corresponding period of 2023.
Since the beginning of the year, Nova Poshta has invested UAH 4.1 billion in its development in Ukraine, which is 1.7 times more than in the same period last year (UAH 2.4 billion).
As part of the Humanitarian Mail of Ukraine program, the company makes shipments for the military from charitable foundations and volunteers at its own expense. In the first nine months of this year, the company delivered 1.2 million parcels. Since the beginning of the full-scale invasion, it has delivered almost 2.5 million.
“Nova Poshta provides a range of logistics services, delivering both small parcels and large cargo. The company provides express delivery of documents, parcels and bulky goods; postal and courier services to businesses, organizations and individuals; loading and unloading services, warehousing and storage; and transport activities – Nova Poshta provides delivery to each client – to the branch, post office, or address. The company also provides logistics and distribution services.
“Nova Poshta has about 12,000 offices across Ukraine and more than 20,000 post offices. The average number of employees is 35 thousand.
The net profit of state-owned PrivatBank (Kyiv), the largest Ukrainian bank, amounted to UAH 48.35 billion in January-September 2024, which is 11.5% higher than in the same period of the previous year.
“According to the results of the first nine months of 2024, the bank’s pre-tax profit reached UAH 64.01 billion, and net profit amounted to UAH 48.35 billion (+11.5% yoy),” the bank said in a statement on Thursday.
According to it, since the beginning of this year, the bank’s loan portfolio has increased by 18.4%, exceeding UAH 108.99 billion as of the end of September, while total assets increased by 5.4% to UAH 722.17 billion, and deposits and balances on customer accounts by 4% to UAH 572.04 billion.
It was specified that the number of active private clients decreased from 18.35 million to 18.3 million in the first nine months of this year, of which 13.51 million were Privat24 users, while the number of business clients increased from 875 thousand to 890 thousand.
In addition, in January-September, PrivatBank reduced the number of branches by 22 to 1173, ATMs by 20 to 6860, terminals by 62 to 10411, and the number of its POS terminals amounted to 311.17 thousand at the beginning of October.
Taking into account the previously published data, the bank’s net profit in the third quarter of 2024 amounted to UAH 17.75 billion, which is 30.3% higher than in the third quarter of 2023.
“During the third quarter, the bank maintained the achieved level of business activity, despite the pressure of electricity shortages on households and businesses,” the financial institution said in a press release.
It notes that the high quality of the loan portfolio results in almost zero expenses for the formation of additional provisions to cover credit risks. Operating expenses remain under management control: in the first nine months of 2024, they increased by only 4.8% compared to the same period last year, which is significantly lower than the inflation rate.
It was also clarified that since the beginning of the year, PrivatBank has donated UAH 167.06 million to charity, aimed at helping hospitals and medical institutions, strengthening the country’s defense capabilities, social projects, and helping employees.
