Business news from Ukraine

Business news from Ukraine

“Forests of Ukraine” increased its pre-tax profit to 3 bln hryvnias in first quarter

The state-owned specialized enterprise “Forests of Ukraine” increased its pre-tax profit 3.7-fold in January-March 2026 compared to the same period in 2023—to 3 billion UAH, the company reported on Facebook.

According to the published data, the company’s net revenue for this period grew by 87% to UAH 8.6 billion. Timber harvesting volumes increased by 50% to nearly 3 million cubic meters. The pre-tax profit margin rose from 17.5% to 34.9%.

“Our results are not a coincidence or a matter of favorable market conditions. This is the result of systematic, comprehensive work,” the statement emphasizes.

The company attributes the growth in performance to the implementation of an open system for the sale of forest products, transparent procurement through Prozorro, and the discontinuation of non-core activities, particularly wood processing. Additionally, the company optimized its workforce: the number of employees decreased over three years from 30,000 to 21,000.

According to the state-owned enterprise, the average salary of forestry workers in the first quarter of 2026 rose to 38,000 UAH, compared to 15,000 UAH in the first quarter of 2023. At the same time, administrative expenses as a percentage of the payroll fund decreased from over one-third to 17%.

The amount of taxes paid to budgets at all levels during the reporting period increased by 166% and amounted to 4 billion UAH.

,

Ltava Plant saw its net profit decline by 8.8% in 2025

Ltava Plant JSC (Poltava), a manufacturer of electrical connectors and switching equipment, ended the first quarter of 2026 with a net profit of UAH 41.64 million, which is slightly higher than the corresponding figure for January–March 2025.

According to the company’s interim financial report in the financial reporting system, its net revenue decreased by 27% to UAH 122.45 million.

The plant also published its 2025 financial report in the NSSMC disclosure system, according to which net profit decreased by 8.8% compared to 2024—to UAH 156.2 million—while net revenue increased by 32.2%—to UAH 627 million.

Over the past year, the plant increased its operating profit by 71.2% to UAH 136 million, while gross profit rose by 51.6% to UAH 332.8 million.

The Ltava plant is a specialized enterprise engaged in the development and manufacture of electrical connectors, switching devices, contact devices, and sockets for microelectronics.

According to data from the National Securities and Stock Market Commission (NSSMC) for the fourth quarter of 2025, Ivan and Lesya Rybalko hold nearly 44.57% and 19% of the company’s shares, respectively, while Supervisory Board Chairman Serhiy Zmiyevets holds 36.43%.

,

PrivatBank’s Net Profit Falls by 24.3%

State-owned PrivatBank (Kyiv) reported a net profit of 12.8 billion hryvnias for January–March 2026, which is 24.3%, or 4.1 billion hryvnias, less than in the same period of 2025, the bank announced on its website.

It is noted that the bank’s pre-tax profit for the first quarter of 2026 amounted to UAH 25.9 billion, which is 17%, or UAH 3.8 billion, more than a year earlier.

In the first quarter of this year, PrivatBank paid UAH 44.1 billion in taxes, of which UAH 42.1 billion was income tax for the fourth quarter of 2025.

Customer deposits as of the end of the first quarter of 2026 increased by 19%, or UAH 111.6 billion, compared to the same period last year—to UAH 724.4 billion.

The bank’s net loan portfolio grew by 44%, or UAH 52.2 billion, year-over-year, and by 8.8%, or UAH 13.7 billion, compared to the beginning of 2026—reaching UAH 170 billion.

The number of active Privat24 users increased by 2% over the year—to 13.7 million—and the number of active business clients by 4%, to 952,000, while the number of active individual clients stood at 18 million.

According to the bank’s data, in the first quarter of 2026, the bank allocated UAH 130.26 million to charity.

The bank’s infrastructure includes 7,400 ATMs and nearly 9,900 TCOs, while the number of POS terminals as of April 1, 2026, exceeded 345,000.

PrivatBank is Ukraine’s largest state-owned bank. According to the National Bank, the financial institution’s total assets as of March 1, 2026, amounted to 963.77 billion UAH (23.0% of the total).

,

Nikopol Plant of Technological Equipment Increased Its Profit to 25.1 Mln UAH

PJSC “Nikopol Plant of Technological Equipment” (NZTO, Dnipropetrovsk region) increased its net profit by 56.3% in 2025 compared to 2024—to UAH 25.068 million from UAH 16.037 million.

According to the company’s annual report, net revenue for the past year reached UAH 1.081439 billion, compared to UAH 589.268 million in 2024.

Retained earnings as of the end of 2025 amounted to UAH 91.761 million.

As reported in NZTO’s 2024 annual report, the average headcount of full-time employees was 198. Net profit for 2024 amounted to UAH 16.037 million, for 2023 – UAH 24.558 million, and net revenue – UAH 589.268 million (UAH 415.235 million).

The shareholders intend to transform NZTO from a private joint-stock company into a limited liability company.

Private Joint-Stock Company “NZTO” was established on the basis of the tooling complex of the Pivdentrub Plant in November 2001. The company combines metal forming (forging), foundry production, machining, and heat treatment.

PJSC “Nikopol Plant of Technological Equipment” is engaged in the production of tools and metal structures, as well as the processing of metal waste and scrap.

According to the National Securities and Stock Market Commission (NSSMC) data for the fourth quarter of 2025, LLC “VKP ‘YUVIS’ (Dnipropetrovsk region) owns 24.9840% of PJSC ”NZTO,” Wolbert Company Limited (Cyprus) owns 24.99%, PrJSC “Centravis Production Ukraine” and LLC “Interpipe Nico-Tube” each hold 25.01% of the shares.

The PrJSC’s authorized capital is 16,605,400 UAH, and the par value of one share is 1 UAH.

,

Nova Poshta’s net profit rose to 1.28 bln hryvnia in January–March

Nova Poshta, part of the NOVA Group and the leader in express delivery in Ukraine, increased its revenue from ordinary activities for January-March 2026 by 26.9% compared to the same period in 2025, reaching UAH 14.98 billion.

According to Nova Poshta’s published report, its net profit increased 4.4-fold to UAH 1.28 billion.

Gross profit rose by 20.7% to UAH 2.71 billion, while operating profit decreased by 10.3% to UAH 0.79 billion.

The report notes that in January–March 2026, net cash flows from investing activities generated a profit of UAH 1.68 billion, compared to a loss of UAH 0.48 billion in the previous year.

In February 2026, the company sold a 99.24% stake in its subsidiary Novobox LLC for UAH 1.46 billion. According to YouControl data, the new owner is the Cypriot company NP Holdings Limited, whose beneficiaries, like those of Nova Poshta, are Volodymyr Poperechnyuk and Vyacheslav Klimov. After the sale, the company was renamed “Nova Box.”

Nova Poshta’s equity grew over the year from 11.7 billion UAH to 13.4 billion UAH.

It is noted that in the first quarter of 2026, the company opened 2,600 new parcel lockers, 36 branches, and 329 parcel pickup and drop-off points.

By the end of 2026, the company plans to expand its network of parcel lockers by 6,000 units and open 300 mini-branches across the country.

As reported, in 2025, Nova Poshta increased its revenue by 21.6% compared to 2024—to 54.2 billion UAH, while net profit rose by 4.4%—to 2.6 billion UAH.

The company’s gross profit in 2025 increased by 15.7% compared to 2024—to 11.4 billion UAH, while operating profit also rose in 2025 by 25.8%—to 5.2 billion UAH.

The number of parcels and shipments delivered last year grew by 7.4%—from 486 million to 522 million—including international shipments, which rose by 52.6%, from 19 million to 29 million.

, ,

Kyiv Vitamin Plant Increased Net Profit 2.1-Fold in 2025

The pharmaceutical company PJSC “Kyiv Vitamin Plant” (KVP) increased its net profit 2.1-fold in 2025 compared to 2024, reaching UAH 328.461 million.

As reported by the company in the disclosure system of the National Securities and Stock Market Commission (NSSMC), net revenue from product sales for 2025 increased by 3.13%—to nearly UAH 5.099 billion.

As previously reported, the company planned to increase sales volumes by 17.5% by the end of 2025.

In 2024, KVZ increased its net profit by 8.74% compared to 2023—to UAH 156.84 million; revenue from product sales last year rose by 14.71%—to UAH 4.944 billion.

KVZ is among the top ten largest pharmaceutical companies in Ukraine. The company’s product portfolio includes over 100 medicinal products and 20 dietary supplements.

According to the Opendatabot system, the ultimate beneficiary of KVZ is Canadian citizen Maxim Martin.

,