Business news from Ukraine

Business news from Ukraine

“Lutsk Foods” Plans to Allocate 20.48 Mln UAH for Dividend Payments

PJSC “Lutsk Foods,” which manufactures sauces, ketchups, mustard, and mayonnaise, intends to rescind the decision of the remote general meeting of shareholders held on April 29, 2024, regarding the non-payment of dividends based on the results of operations in 2023, and to allocate 20.48 million UAH of retained earnings to pay dividends for 2022–2023.

The company reported this in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
According to the draft resolution, it is proposed to allocate 9.26 million UAH for dividend payments based on the 2022 financial results and 11.21 million UAH for 2023. The total dividend amount will be 0.32 UAH per share.

It is proposed that the dividends be paid through the Ukrainian depository system in a single lump sum no later than the deadlines specified by current Ukrainian legislation.
The extraordinary general meeting of shareholders of “Lutsk Foods” will be held remotely on September 28, 2026.

PJSC “Lutsk Foods” was founded in 1997 on the basis of the Lutsk City Food Combine, established in 1945. It manufactures a wide range of tomato paste-based sauces, as well as ketchup, adjika, mustard, mayonnaise, and various types of vinegar under the “Runa,” “Ridnyi Krai,” and “Sribnytsia” brand names. Since 2009, it has been collaborating with a number of retail chains and producing over 40 product items under their private labels. PJSC “Lutsk Foods” exports its products to markets in more than 20 countries.

According to Opendatabot, in 2025, PJSC “Lutsk Foods” reported revenue of 840.7 million UAH and net income of 39.4 million UAH. The company employs 325 people.

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“Knyazha Life VIG” posted profit of 25.6 mln UAH in first half of year

The insurance company “Knyazha Life Vienna Insurance Group” (Kyiv) collected 25.2 million UAH in insurance premiums from January through June 2026, which is 7.32% less than in the same period of 2025.

This was reported by the rating agency “Standard-Rating” on its website in an announcement confirming the company’s financial stability rating/credit rating at the “uaAA+” level based on the results of the reporting period.

It is noted that the insurer’s total insurance payments and claims settlements amounted to 23.986 million UAH, which was 57.97% higher than the amount of payments for the same period in 2025. Thus, the payout ratio rose to 95.10%.

The insurer’s acquisition costs for the first half of 2026 totaled 0.324 million UAH, which is 30.47% less than in the first half of 2025. Net profit amounted to 25.613 million UAH, whereas the insurer had reported a loss for the corresponding period in 2025.

As of July 1, 2026, the company’s assets grew by 5.92% to 1.060 billion UAH, equity by 9.48% to 324.824 million UAH, and liabilities by 4.42% to 735.353 million UAH, while cash and cash equivalents decreased by 23.05% to 6.813 million UAH, and government bonds and bank deposits—as part of current financial investments—increased by 6.88% to 1.028 billion UAH.

Thus, as of the beginning of the second half of 2026, the equity of IC “Knyazha Life Vienna Insurance Group” covered 44.17% of its liabilities, and 0.93% of liabilities were secured by cash and cash equivalents.

The RA also reports that as of the reporting date, the insurer had formed a portfolio of current financial investments totaling 1.028 billion UAH, which included bank deposits and investments in government bonds. Thus, liquid assets (cash and cash equivalents, bank deposits, and government bonds) exceeded the insurer’s liabilities by a factor of 1.41.

The RA notes that the company’s high level of external support is provided by its shareholder—the international insurance group Vienna Insurance Group Wiener Städtische Versicherung AG, headquartered in Austria, which is represented by 50 companies in 30 countries and is a leader in the insurance market of Central and Eastern Europe.

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Insurance Company “Busin”’s Net Profit Rose to 16 Mln UAH in First Half of Year

Insurance Company “Busin” (Kyiv) in January–June 2026 collected UAH 134.1 million in gross premiums, which is 16.2% more than during the same period a year earlier, according to a report by Standard-Rating on the update of the insurer’s credit rating/financial stability rating at the “uaAA+” level on the national scale, based on an analysis of the specified period.

It is noted that premiums from individuals increased 9.72-fold—to 797,000 UAH—while those from reinsurers decreased by 49.92%, to 8.524 million UAH.
Premiums ceded to reinsurers during this period fell by 21.95% to 107.401 million UAH. Consequently, the reinsurers’ share of insurance premiums decreased by 39.18 percentage points to 80.11%.

Net premiums rose to 26.668 million UAH, while net earned premiums increased by 25.45% to 43.172 million UAH.
In the first half of 2026, the company paid out UAH 937,000 in insurance benefits and claims to clients, which is 10.65 times more than in the first half of 2025. Consequently, the payout ratio increased by 0.62 percentage points to 0.70%.

The agency notes that in the first six months of 2026, the insurer’s operating profit rose to 6.479 million UAH, and net profit to 15.960 million UAH.
Its assets grew by 8.81% to 304.146 million UAH, equity by 3.01%, to 201.390 million UAH, liabilities by 22.29%, to 102.756 million UAH, while cash and cash equivalents decreased by 4.41% to 231.441 million UAH.

Insurance Company “Busin” was registered in February 1993. It specializes in risk insurance. It is a member of a number of professional and industry associations—the League of Insurance Organizations of Ukraine, the Insurance Claims Club, the International Association of Aviation Insurers (UA), the Nuclear Insurance Pool, the American Chamber of Commerce in Ukraine, and the British Business Club.

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USG Insurance Company’s Net Profit Increased 2.5-Fold in First Half of Year

Insurance Company “Ukrainian Insurance Group” (USG, Kyiv) collected UAH 1.944 billion in gross premiums in January–June 2026, which is 0.62% more than in the same period a year ago; net premiums decreased by 2.24% to UAH 1.699 billion, while net earned premiums rose by 28.13% to 1.807 billion UAH.

This was reported by the rating agency “Standard-Rating” in its announcement regarding the renewal of the company’s financial stability rating at the “uaAAA” level on the national scale, based on its performance for January–June 2026.

According to the report, premiums from individual policyholders decreased by 11.66% over the first half of the year to 1.050 billion UAH, while premiums from reinsurers, on the contrary, increased by 20.68% to 3.811 million UAH. At the same time, the share of individual policyholders in gross premiums was 54%, while the share of reinsurers was 0.20%.

Premiums ceded to reinsurers for the first half of 2026 rose by 26.31% to 244.702 million UAH. Consequently, the reinsurers’ share of insurance premiums increased by 2.56 percentage points to 12.59%.
The total amount of insurance payments and claims settled by PJSC “USG Insurance Company” over the six-month period amounted to UAH 1.327 billion, which is 47.29% higher than in the corresponding period of 2025. At the same time, the claims ratio rose by 21.62 percentage points to 68.24%.

USG Insurance Company’s operating profit for the first half of 2026 increased 7.57-fold compared to the same period in 2025, reaching 148.433 million UAH, while net profit rose 2.55-fold to 217.345 million UAH.
As of July 1, 2026, the company’s assets decreased by 3.76% to 4.042 billion UAH, equity increased by 23.47% to UAH 1.142 billion, liabilities decreased by 11.44% to UAH 2.9 billion, and cash and cash equivalents increased by 37.47% to UAH 279.149 million.

The RA notes that as of the reporting date, the insurer had formed a portfolio of financial investments totaling 2.176 billion UAH, consisting of government bonds and municipal bonds, as well as deposits in banks with high credit ratings. Liquid assets collectively covered 84.65% of the insurer’s liabilities.
As previously reported, the controlling shareholder of “IC ”USG” is the Vienna Insurance Group, an international insurance group headquartered in Austria, which is represented by 50 companies in 30 countries and is the leader in the Central and Eastern European insurance market.

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Ukraine’s Ten Largest Microfinance Organizations Reported 12.8 Bln Hryvnia in Revenue Over Six Months

Ukraine’s ten largest microfinance organizations reported combined revenue of 12.78 billion hryvnia and earned 1.16 billion hryvnia in net profit for the first half of 2026.

These figures were released by OpenDataBot on September 1.

Ukr Credit Finance, which operates under the CreditKasa brand, generated the highest revenue among MFOs—1.99 billion UAH. It accounted for approximately 16% of the total revenue of the top ten.

Second place in terms of revenue went to FC “Ye Hroshi” with 1.85 billion UAH, and third place went to “Spozhyvchiy Tsentr,” operating under the “ShvidkoHroshi” brand, with 1.52 billion UAH.

Next came “Aventus Ukraine” (CreditPlus) with revenue of 1.42 billion UAH, Miloan with 1.17 billion UAH, MyCredit with 1.08 billion UAH, “Bizpozika” with 1.07 billion UAH, Credit7 with 1.05 billion UAH, Moneyveo with 0.85 billion UAH, and Selfie Credit with 0.78 billion UAH.

In terms of profit, “Spotzhyvchyi Tsentr” took the lead with 361.3 million UAH. This represents about one-third of the combined profit of the ten largest MFIs. “Aventus Ukraine” came in second with 233.4 million UAH, and “Ukr Credit Finance” came in third with 172.6 million UAH.

The sector’s financial indicators are growing rapidly amid rising household debt. As of July 1, 2026, Ukrainians owed MFIs 32.32 billion UAH, which is 17% more than at the beginning of the year.

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IMK’s Net Profit Fell by 33% in First Half of Year

Agricultural holding company IMC reported $34.28 million in net profit for the first half of 2026, down 33% from the first half of 2025, according to the company’s report filed with the Warsaw Stock Exchange on Thursday.

“The decline in normalized EBITDA and net profit … was driven by lower corn and sunflower prices compared to the same period last year—in contrast to the sharp price increases in the first half of 2025—as well as rising logistics costs and the depreciation of the hryvnia,” the document states.
According to the report, EBITDA fell by 22% to $50.23 million.

The company’s consolidated revenue in the first half of 2026 rose by 6% to $88.88 million. Corn sales accounted for the largest share—98.1% compared to 97.8% in the first half of last year.
It is noted that the company’s cost of goods sold rose from $66.4 million in January–June 2025 to $79.9 million in January–June 2026.

IMK added that over the six-month period, the Ukrainian hryvnia depreciated by 5.5% against the U.S. dollar, whereas in the first half of last year it depreciated by only 1.0%; consequently, the company recognized a net loss from foreign exchange differences of $2.11 million.
Net cash flow from operating activities decreased to $12.0 million from $15.0 million in January–June 2025, primarily due to lower prices for agricultural products and higher operating expenses.

According to the report, IMC’s net cash outflow from investing activities decreased to $8.2 million in the first half of 2026 from $10.5 million in the first half of 2025, in line with the group’s capital expenditure program.
IMK Agroholding is an integrated group of companies operating in the Sumy, Poltava, and Chernihiv regions (northern and central Ukraine) in the crop production, grain elevators, and warehousing segments. Its land bank totals 115,000 hectares, storage capacity stands at 554,000 metric tons, and grain and oilseed production in 2025 reached 838,000 metric tons.

IMK’s net profit in 2025 rose by 24% to $67.5 million, while consolidated revenue fell by 10% to $190.5 million.

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