Business news from Ukraine

Business news from Ukraine

ArcelorMittal Beryslav earned UAH 14.6 mln in profit after posting loss year earlier

ArcelorMittal Beryslav (Beryslav, Kherson region), one of ArcelorMittal’s Ukrainian subsidiaries, earned UAH 14.554 million in net profit, while 2023 ended with a net loss of UAH 17.851 million.

According to the annual report, last year the company increased its net income by 86% compared to the previous year, to UAH 111.167 million.

Undistributed losses at the end of 2024 amounted to UAH 107.337 million.

According to the report, last year ArcelorMittal Beryslav produced 376,793 thousand tons of limestone and sold 353,287 thousand tons. Balance sheet reserves of minerals at the end of the year amounted to 3,975.2 thousand tons.

The average number of full-time employees is 52, and the wage fund in 2024 is UAH 11.333 million.

As reported, with the start of the full-scale invasion, the town of Arkhangelskoye was occupied for almost seven months. On October 3, 2022, the Vysokopilsk community, which included the town of Arkhangelsk, was liberated by the Armed Forces of Ukraine. During the occupation of the Kherson region, due to constant shelling, mining, and hostilities, the production facilities of ArcelorMittal Beryslav were destroyed.

ArcelorMittal Beryslav is located in the town of Arkhangelsk (Kherson region), 60 km from Kryvyi Rih, and extracts limestone for metallurgical production and the construction industry.

Based on its performance in the pre-war year of 2021, ArcelorMittal Beryslav reduced its net profit by 2.3 times compared to 2020, to UAH 12.685 million.

ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod.

ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.

ArcelorMittal Beryslav (formerly Beryslav Building Materials Plant, established in 1994 by transforming the state-owned enterprise of the same name).

ArcelorMittal acquired the Beryslav Building Materials Plant in July 2010.

According to the NDU for the second quarter of 2025, ArcelorMittal Global Holding (Luxembourg) owned 74.45% of the shares of ArcelorMittal Beryslav, and ArcelorMittal Netherlands B.V. (Netherlands) owned 24.81%.

The authorized capital of ArcelorMittal Beryslav JSC is UAH 1.063 million, with a share par value of UAH 0.25.

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Pharmaceutical manufacturer Monfarm increased its net profit by 9.6 times

In January-September 2025, pharmaceutical manufacturer Monfarm (Cherkasy region) increased its net profit by 9.6 times compared to the same period in 2024, to UAH 25.176 million.

According to the company’s disclosure to the National Securities and Stock Market Commission, its net sales revenue for this period increased by 34.7% to UAH 233.655 million.

Monfarm PJSC was established in 1994 through the corporatization and privatization of the Monastyryshchensky Pharmaceutical Plant, a state-owned enterprise organized in 1986 on the basis of an alcohol plant as part of the Kyiv pharmaceutical association Darnitsa.

Monfarm specializes in the production of suppositories and tableted medicines, with more than 70 names of medicines from various pharmaceutical groups.

The quality of the products is confirmed by GMP certificates.

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Tovkach Mining and Processing Plant reported profit of UAH 1.26 mln despite decline in revenue

In 2024, PJSC Tovkach Mining and Processing Plant (TGZK, Pershotravneve, Zhytomyr region) received a net profit of UAH 1.260 million, compared to a loss of UAH 794,000 in 2023.

According to the annual report, TGZK’s net income in 2024 decreased by 50.7% compared to the previous year, to UAH 91.104 million.

Undistributed profit at the end of 2024 amounted to UAH 456.710 million.

As reported, TGZK received a profit of UAH 78 million 175,767 thousand in 2020, UAH 44 million 223,637 thousand in 2021, and UAH 14 million 659,029 thousand in 2022. The company ended 2023 with a net loss of UAH 794,133 thousand.

TGZK is a company engaged in the extraction, processing, and enrichment of quartzite. It is the main supplier of raw materials for the production of ferroalloys, refractories, and dinas in Ukraine.

TGZK is developing the Tovkachivska section of the Ovruch quartzite deposit in the town of Pershotravneve using open-pit mining methods.

According to the NDU data for the first quarter of 2025, Navaro Development Limited owns 5.1898% of the shares of the private joint-stock company, Lucrino Investments Limited owns 9%, Mantara Holdings Limited owns 72.0629%, and Duxton Holdings Limited (all based in Cyprus) owns 12.1891%.

The company’s authorized capital is UAH 1.6 million, and the nominal value of a share is UAH 2.25.

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Dniprometiz-TAS reduced its profit by 3% while increasing its revenue to UAH 2.6 bln

Dniprometiz-TAS LLC (Dnipro), owned by Ukrainian businessman Serhiy Tihipko, reduced its net profit by 2.9% compared to the same period last year, to UAH 11.727 million, according to the results for January-September of this year.

According to the company’s interim report, net income for the period increased by 7.5% to UAH 2 billion 607.402 million.
At the same time, the company’s undistributed profit at the end of September amounted to UAH 274.763 million.

As reported, in 2024, Dniprometiz-TAS increased its net profit by 47.7% compared to 2023, to UAH 14.197 million from UAH 9.610 million, while net income increased by 22.7%, to UAH 3 billion 285.688 million. At the same time, the company’s undistributed profit at the end of 2024 amounted to UAH 263.048 million.

According to the results of 2023, Dniprometiz reduced its net profit by 2.6 times compared to 2022, to UAH 9.658 million from UAH 24.733 million. Over the past year, net income increased by 8.2% to UAH 2 billion 677.836 million.

Dniprometiz reduced its net profit sixfold in 2022 compared to the previous year, to UAH 25.572 million, while net income increased by 1.1% to UAH 2 billion 474.397 million.
Dniprometiz-TAS manufactures metal products from low-carbon steels. The company’s capacity is 120,000 tons of products per year.

T.A.S. Overseas Investments Limited (Cyprus) owns a 98.6578% stake in Dniprometiz LLC.
The authorized capital of Dniprometiz-TAS LLC is UAH 83.480 million.

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Ukrenergomashiny increased its revenue by 48% and profit by 61% in nine months

JSC Ukrenergomashiny (Kharkiv) ended January-September of this year with net sales revenue of UAH 914 million, which is 48.4% more than in the same period of 2024.

According to the company’s financial report in the disclosure system of the National Securities and Stock Market Commission (NSSMC), its net profit increased by 61.5% to UAH 0.95 million.

The company received UAH 17.8 million in operating profit (UAH 15.5 million last year), and gross profit more than doubled last year’s figure, amounting to UAH 278.6 million.

As reported, in the first half of this year, Ukrenergomash’s net profit amounted to UAH 0.49 million, while in the same period last year it was UAH 20.81 million, and net income decreased by 3.4% to UAH 469.

Thus, in the third quarter, the plant received UAH 0.46 million in net profit, while in July-September 2024, the loss amounted to UAH 20.2 million, and net income increased 3.4 times to UAH 445.2 million.

The company notes that in the third quarter, in particular, it shipped equipment for the Aksu TPP (Kazakhstan), sets of power equipment for the Zmiiv TPP, Burshtyn TPP, Darnytsia TPP, Zaporizhstal CHP, sets of turbine equipment for the Nizhnednistrovskaya HPP, and the Teri HPP (India).

Fifty-two traction electric motors were delivered to the tram car manufacturer Tatra-Yug, and three traction units were delivered to MTRZ LLC.

Ukrenergomashyna JSC names foreign companies as its main competitors, in particular, Andritz (Austria), Voith (Germany), General Electric (USA), and Bharat Heavy Electric Ltd. (India). Competition in the domestic and foreign markets is high.

The value of concluded but not yet executed agreements (contracts) as of the end of the third quarter of 2025 is almost UAH 7.7 billion (excluding VAT), and the total amount of payments remaining to be paid under these contracts is UAH 2.78 billion.

JSC Ukrenergomashiny, more than 75.22% of whose shares are owned by the state, is the only manufacturer of turbine equipment for hydro, thermal, and nuclear power plants in Ukraine. It also produces electric motors for rail and urban transport.

In 2024, it more than doubled its net income to almost UAH 799 million and received UAH 0.88 million in net profit compared to UAH 0.2 million in 2023.

As of October 1, 2025, the average number of full-time employees was 2,640 (2,740 at the beginning of the year).

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FUIB reduced net profit by 10.1%

First Ukrainian International Bank (FUIB, Kyiv) received UAH 1.22 billion in net profit in the third quarter of 2025, which is 10.1% less than in the same period of 2024, when it amounted to UAH 1.36 billion.

It is noted that pre-tax profit also decreased by 10.1% to UAH 1.63 billion, while net interest income increased by 18.1% to UAH 4.38 billion, and net commission income increased by 43.3% to UAH 0.64 billion.

According to the report, the decline in net profit is mainly due to an increase in impairment losses to UAH 1.1 billion from UAH 0.16 billion in the third quarter of 2024, while the bank’s operating expenses increased by 9% to UAH 2.6 billion, and net income from foreign currency transactions decreased by 21.9% to UAH 0.18 billion.

According to the document, in January-September of this year, the bank significantly increased its portfolio of loans and advances to customers – by 30.2% to UAH 87.13 billion as of September 30, 2025, compared to UAH 66.92 billion at the beginning of 2025.

As of September 30, 2025, the total loan portfolio of the bank’s 20 largest borrowers grew to UAH 12.11 billion, which is 23.9%, or UAH 2.33 billion, more than at the end of 2024, but its share in the loan portfolio, excluding reserves, remained at 13%.

Since the beginning of the year, FUIB’s total assets have grown by 4.4%, or UAH 8.22 billion, to UAH 194.81 billion, while total liabilities have grown by 2.3%, or UAH 3.77 billion, to UAH 168.16 billion.
The bank’s equity increased by 16.4%, or UAH 3.76 billion, to UAH 26.64 billion, of which retained earnings amounted to UAH 16.13 billion.

Overall, in the first nine months of this year, net profit decreased by 7.6% compared to the same period last year, to UAH 4 billion 792.21 million, with net interest income growing by 15.6% to UAH 12.52 billion and net commission income by 43.1% to UAH 2.39 billion.

According to the National Bank, as of September 1, 2025, FUIB ranked fifth among 60 banks in Ukraine with assets of UAH 193.14 billion. The ultimate beneficiary is Rinat Akhmetov.

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