Business news from Ukraine

Business news from Ukraine

FUIB Increased Net Profit by 2.5% in Third Quarter—to 1.26 Bln UAH

First Ukrainian International Bank (FUIB, Kyiv) increased its net profit by 2.5% in the third quarter of 2026—to 1.26 billion UAH from 1.22 billion UAH in the same period of 2025.

According to the bank’s interim financial statements, pre-tax profit in the third quarter rose by 53.8% to 2.51 billion UAH, net interest income by 38.3% to 6.05 billion UAH, and net fee and commission income by 55.8% to 0.99 billion UAH.

At the same time, the loss from impairment of financial assets increased by 49.1% to 1.62 billion UAH, and operating expenses rose by 23.8% to 3.22 billion UAH. Income tax expenses increased 3.1-fold to 1.26 billion UAH from 0.41 billion UAH.
Compared to January–September 2025, PUMB’s net income decreased by 8.7% to 4.38 billion UAH, while pre-tax income increased by 37.0% to 8.75 billion UAH.

Net interest income for the nine-month period increased by 35.3% to 16.93 billion UAH, while net fee and commission income rose by 22.0% to 2.92 billion UAH. Income tax expense totaled 4.38 billion UAH, compared to 1.60 billion UAH a year earlier.

The volume of loans and advances to customers since the beginning of the year grew by 31.5% to 129.03 billion UAH. Specifically, the corporate loan portfolio, net of expected credit losses, increased by 29.2% to 96.63 billion UAH, while the retail loan portfolio grew by 38.8% to 32.40 billion UAH.

The gross book value of loans to the 20 largest borrowers as of September 30 was 14.44 billion UAH, or 10% of the loan portfolio before provisions, compared to 14.52 billion UAH, or 14%, at the beginning of the year.

Customer deposits increased by 7.9% over the first nine months, to 206.20 billion UAH. Deposits from individuals rose by 14.7%, to 76.03 billion UAH, while those from legal entities increased by 4.3%, to 130.17 billion UAH.
Since the beginning of 2026, PUMB’s assets have grown by 8.9% to 251.56 billion UAH, liabilities by 8.0% to 215.48 billion UAH, and equity by 14.3% to 36.08 billion UAH.

FUIB is the largest privately-owned bank in Ukraine; its ultimate beneficiary is Rinat Akhmetov.

According to the bank, since the start of the full-scale invasion, it has paid over 25 billion UAH in taxes and fees to the state budget. Investments in social projects exceeded 1.5 billion UAH.

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“Cherkasy Bus” Increased Net Profit by 69% Over 9 Months

JSC “Cherkasy Bus” ended the January–September 2026 period with a net profit of 82.27 million UAH, which is 69.2% higher than the corresponding figure for 2025, including a 2.4-fold increase in July–September compared to the third quarter of 2025, reaching 67.1 million UAH.

According to the company’s interim report published in the disclosure system of the National Securities and Stock Market Commission (NSSMC), net sales revenue for the nine-month period rose slightly to 1.143 billion UAH, of which the third-quarter increase amounted to 25% compared to July–September 2025, reaching 568 million UAH.

Compared to the second quarter of this year, the plant increased its net profit 4.4-fold in the third quarter, while net revenue decreased slightly.
From January through September, the plant increased its gross profit by 12%—to 220.6 million UAH—while operating profit rose by 57.8% to 110.4 million UAH.

Retained earnings as of the end of September totaled 428.4 million UAH.
According to the report, “Cherkasy Bus” manufactured 308 buses worth 919.5 million UAH in January–September (including 105 buses in the third quarter of 2026) and sold 293 buses worth 920.9 million UAH (124 units).

In addition, the company produced 90 trucks worth 193 million UAH and sold 93 vehicles worth 198.2 million UAH.
As previously reported, the company’s preliminary plans for the current year call for the production of 385 Ataman buses, the assembly of 300 Isuzu trucks, and 302 Isuzu pickups (in line with plans for 2025).

In fact, in 2025, the plant reduced bus production by 8% compared to the previous year—to 391 units—and truck production by 1.9% (6 units), to 315 units. Sales totaled 393 buses (down 7.5%) and 240 trucks (down 24.8%).

Founded in 1994, the “Cherkasy Bus” plant manufactures Ataman small-class buses (including city, suburban, school, and specialized models), as well as other wheeled vehicles based on Japanese Isuzu components, specifically through the large-assembly method for Isuzu trucks with payloads ranging from 3 to 18 metric tons (dump trucks, fire trucks, emergency repair vehicles, aerial work platforms, and vehicles with special superstructures—for Ukrposhta, local communities, and the State Border Guard Service).

In addition, the plant manufactures Isuzu pickup trucks for the National Police, the State Emergency Service, the State Border Guard Service, forest patrols, and energy and gas companies.
According to the plant, two-thirds of its production consists of orders from the public sector.

The plant ended 2025 with a net profit of nearly 83 million UAH—32% less than in 2024—amid a slight decline in net revenue to 1 billion 733 million UAH. It did not plan to pay dividends.
As of the beginning of 2026, the company employed 374 people—33 fewer than at the start of 2025.

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KVBZ posted profit of 94.5 mln UAH for first nine months following last year’s loss

PJSC “Kryukiv Railway Car Building Plant” (KVBZ, Poltava Oblast), ended the January–September period of this year with a net profit of 94.5 million UAH, compared to a loss of 76.7 million UAH for the same period last year; specifically, in July–August, the profit amounted to 75.2 million UAH, compared to a loss of 65 million UAH in the third quarter of 2025.

According to the company’s report published on the plant’s website, its net revenue for the first nine months increased by 51.4%—to 3.438 billion UAH, while in the third quarter this figure rose 3.2-fold—to 1.609 billion UAH.

According to the report, in January–September of this year, the company incurred an operating loss of 4 million UAH, compared to 107.7 million UAH a year ago, while gross profit increased 2.4-fold to 260 million UAH.

The accumulated loss as of October 1, 2026, stood at 136.8 million UAH, compared to 231.3 million UAH at the beginning of the year.
Products were sold in Ukraine; the share of exports for January–September amounted to only 0.05%.

In the third quarter of this year, 224 freight cars were sold, compared to only five during the same period in 2025 (204 freight cars were sold in the second quarter of 2026).
“There is a positive trend toward an increase in freight car sales. Over the first nine months of this year, 502 freight cars were sold,” the report states.

The main customers were JSC “Ukrzaliznytsia” and private companies that purchased freight cars to facilitate the transportation of grain crops and container shipments.
At the same time, the plant notes that demand for new freight cars remained significantly lower than the production capacity of Ukrainian railcar manufacturers.

KVBZ notes that among Ukraine’s 20 domestic railcar manufacturers, based on performance for January–August (data on freight car sales by domestic competitors in September 2026 is currently unavailable) it ranks first in terms of freight car deliveries (457 cars) with a market share of 57.6% (in total, Ukrainian railcar manufacturers supplied 794 freight cars to the market over the first 8 months of 2026).

In addition, during the third quarter, the plant delivered 20 passenger cars to JSC “UZ.”

The company also notes that in July of this year, it won a UZ tender to supply 92 passenger cars, with a delivery period of 24 months from the date of the advance payment, and on August 20, it signed a contract with UZ to supply 10 passenger cars (4 compartment sleeper cars with a conductor’s rest compartment, 4 compartment sleeper cars, and 2 inclusive compartment sleeper cars with a train conductor’s compartment), which must be delivered no later than 914 calendar days from the date the buyer makes the advance payment.

KVBZ manufactures passenger and freight cars, regional diesel trains, high-speed interregional locomotive-hauled trains, spare parts and bogies for freight cars, and escalators.

As reported, in 2025, the company saw its net revenue decline by 30.5% compared to 2024—to 2 billion 617.2 million UAH—and incurred a loss of 184.5 million UAH, whereas in 2024, net profit amounted to 81.1 million UAH. A total of 143 freight cars and 51 passenger cars were sold.

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“Kryvbasvibuhprom” Saw Its Net Profit Drop by 88.5% Over 9 Months

PJSC “Industrial and Manufacturing Enterprise Kryvbasvibuhprom” saw its net profit drop by 88.5% in January–September of this year compared to the same period last year—to 21.641 million UAH from 188.105 million UAH.

According to the company’s interim report, available to the “Interfax-Ukraine” agency, revenue from ordinary operations for this period decreased by 51.1%—to 657.426 million UAH.

Retained earnings as of the end of September 2026 amounted to 954.945 million UAH.

The report notes that in the third quarter of 2026, the Russian Federation’s full-scale war against Ukraine continued to complicate the company’s operations, giving rise to the following challenges: the security situation; logistics issues; the suspension of mining operations at the ore processing plant; and disruptions in electricity supply. The Russian Federation’s full-scale invasion of Ukraine caused significant restrictions on mobility, access to workplaces, and the stability of business processes, and also led to the relocation or temporary suspension of the company’s operations.

The mobilization of male employees into the Armed Forces of Ukraine or their voluntary enlistment in the defense forces resulted in the temporary or permanent loss of employees, particularly those in critical positions. Compared to the previous quarter, the payroll in the reporting quarter decreased by 2,291.41 thousand UAH, or 6.9% compared to the second quarter of 2026; the average number of employees decreased by 148 people.

As previously reported, in the first quarter of 2026, Kryvbasvibuhprom saw its net profit fall by 84% compared to the same period last year—to 7.124 million UAH from 44.542 million UAH. Revenue from ordinary activities for this period decreased by 34.4%—to 269.883 million UAH from 411.670 million UAH.

In the first half of this year, “Kryvbasvibuhprom” saw its net profit fall by a factor of three compared to the same period last year—to 37.036 million UAH from 112.231 million UAH, while revenue from ordinary activities decreased by 32.2%—to 586.325 million UAH.

According to the 2025 report, the company’s net profit last year increased by 20.8% compared to 2024—to 185.845 million UAH from 153.893 million UAH. At the same time, revenue from ordinary operations for this period increased by 18.3%—to 1 billion 751.775 million UAH from 1 billion 480.669 million UAH. In 2024, the company reported a net profit of 153.893 million UAH, compared to 95.121 million UAH in 2023.

“Kryvbasvibuhprom” provides blasting services in the quarries of Ukraine’s mining enterprises. It is a major manufacturer of emulsion and non-water-resistant explosives. The company’s operational chain includes storage, processing, transportation, and blasting operations themselves.

According to the State Registration Service data as of October 23, 2026, Quarex Ltd (Cyprus) owns 93.1642% of the company’s shares, while “umgі investments” LLC, part of the SCM Group, owns 6.5619%.

The authorized capital of “Kryvbasvibuhprom” is 97.022 million UAH, and the par value of each share is 1 UAH.

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“V.A.T.-Pryluky” Saw Its Net Profit Drop by 18% in Third Quarter

PJSC “Tobacco Company ‘V. A.T. – Pryluky” (Chernihiv Oblast), a subsidiary of British American Tobacco (BAT), saw its revenue decline by 23.1% in July–September 2026 compared to the same period in 2025, down to 1.0864 billion UAH.

According to the company’s report filed with the National Securities and Stock Market Commission’s disclosure system, its net profit also fell by 18.3%—to 126.6 million UAH.

As previously reported, on September 7, 2026, Russia launched a drone strike on the Pryluky Tobacco Factory, resulting in damage to the facility and forcing it to temporarily suspend operations; the exact timeline for resuming production has not yet been specified.

According to the report, production of filtered cigarettes in the third quarter fell to 1.3063 billion units from 1.6208 billion units in the second quarter of this year, TVEN production—to 193.6 million from 297.6 million, and filter production—to 661.1 million from 914.2 million.

As of September 30, 2026, the assets of PJSC “A/T Tobacco Company ‘V. A.T.-Pryluky” decreased to 14.56 billion UAH from 17.44 billion UAH at mid-year and 14.99 billion UAH at the beginning of the year, including cash and cash equivalents—down to 2.70 billion UAH from 4.49 billion UAH and 3.60 billion UAH, respectively.

According to the report, the average number of employees in the third quarter was 363, compared to 369 in the previous quarter.

“V.A.T. Pryluky,” according to the report, is one of the largest manufacturers and exporters of tobacco products in Ukraine. It produces international brand cigarettes and a national local brand, as well as TVEN.

According to the National Securities and Stock Market Commission (NSSMC), 100% of the shares are owned by Precis (1814) Limited (United Kingdom).
As previously reported, in 2025 the company saw its net profit decline by 37.3% compared to 2024—to 413.6 million UAH—amid an 11.8% decrease in net revenue—to 5.04 billion UAH.

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“Nova Poshta” Increased Its Net Profit 1.7-Fold in Nine Months – to 2.63 Bln UAH

“Nova Poshta,” Ukraine’s leading express delivery service and part of the Nova Group, increased its net profit 1.7-fold in January–September compared to the same period in 2025, reaching 2.6286 billion UAH.

According to its interim condensed financial report, its revenue for the first nine months of this year rose by 32.5% compared to the same period last year—to 50.2626 billion UAH.
At the same time, following the escalation of Russian shelling in the third quarter of this year, Nova Poshta recorded a net loss of 80.27 million UAH, compared to a profit of 348.45 million UAH for the same period last year.

Revenue for July–September 2026 increased by 33.8% compared to the same period in 2025, reaching 17.7735 billion UAH.
The company’s gross profit for the first nine months of this year rose by 13.6% to 8.8006 billion UAH, while operating profit fell by 10.6% to 3.0981 billion UAH.

A 6.3% increase in gross profit was also recorded in the third quarter of this year—to 2 billion 756.9 million UAH—while operating profit decreased by 37.7%—to 711.37 million UAH.
According to the report, Nova Poshta’s equity as of September 30 of this year stood at 11.7648 billion UAH, compared to 13.3624 billion UAH at the beginning of the year.

The company also reported that from January through September of this year, it delivered 379 million shipments, including 25 million international ones, compared to 522 million for the entire previous year, of which 29 million were international.
The report specifies that over the first nine months of this year, 2,300 new branches were opened and 6,800 parcel lockers were installed. As of the end of September, the network comprised 17,300 branches and 39,700 parcel lockers, compared to 15,400 and 34,100 at the beginning of the year.

It is noted that “Nova Poshta” branches and parcel lockers operate in more than 10,000 settlements across Ukraine.

As for the NOVA Group’s capital investments in Ukraine, they totaled over 2.9 billion UAH from January through September of this year, with 1.2 billion UAH allocated to expanding and maintaining logistics capabilities, 680 million UAH to developing the network of branches and parcel lockers, and 531 million UAH toward upgrading the vehicle fleet and BDF containers.

The company noted that last year, the NOVA Group’s capital investments in Ukraine totaled more than 4 billion UAH.
“Despite constant shelling and attacks on logistics infrastructure, the company continues to work to maintain fast delivery speeds and ensure uninterrupted service for customers throughout Ukraine,” Nova Poshta emphasized in its report.

It added that in the first nine months of 2026, it also transported over 37,000 metric tons of humanitarian cargo, and during this period allocated nearly 1.3 billion hryvnias to social and charitable initiatives, of which 28.12 million UAH went toward supporting the military and funding the “Humanitarian Nova Poshta” program, and another 469.31 million UAH went toward payments to mobilized employees.

The average number of “Nova Poshta” employees from January through September 2026 was 29,300, whereas in 2025 this figure stood at 27,600; the number of employees as of the end of September this year was 35,200, compared to 32,000 last year.
As previously reported, in the first half of 2026, “Nova Poshta” increased its consolidated net profit by 24.3% compared to the same period in 2025—to 2.195 billion UAH—and its revenue by 31.8%, to 39.127 billion UAH.

Its gross profit rose by 19.9% compared to the same period last year—to 8.474 billion UAH—and operating profit increased by 29.5%, to 4.633 billion UAH.

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