Business news from Ukraine

Business news from Ukraine

Poltava Medical Glass Plant Reports 30.5% Drop in Half-Year Profit

Poltava Medical Glass Plant JSC (PMGP, Poltava) saw its net profit decline by 19% in 2025 compared to 2024—to 105.564 million UAH, and for the January–June 2026 period, by 30.5% compared to the same period in 2025, to 45.204 million UAH.

As the company reported in the NSSMC’s disclosure system, its net sales revenue in 2025 decreased by 3.52% compared to 2024—to 364.281 million UAH, while in the first half of 2026, revenue grew by 31.76% compared to the same period in 2025, reaching 231.01 million UAH.

According to the company, the main export markets outside Ukraine in 2025 were Kazakhstan, where products worth 51.503 million UAH were shipped; Georgia (3.732 million UAH); Turkey (3.233 million UAH); and Moldova (1.258 million UAH). In total, products worth 61.369 million UAH were exported during this period, which is 2.29% more than the previous year.

In the first three months of this year, the plant manufactured 89,488 million ampoules and shipped 150.923 million units worth 107.4 million UAH. Specifically, in January–March, ampoules were exported to Kazakhstan, Georgia, Turkey, Moldova, and Uzbekistan. The volume of exports increased by 32%.
The company generated 5.402 million UAH from the sale of oxygen and nitrogen.

The cost of goods sold amounted to 70.333 million UAH; the company’s revenue from core and operating activities for the first quarter of 2026 totaled 120.232 million UAH, with net profit at 21.154 million UAH.
As previously reported, in July 2025, Oleksandr Nekrasov, who owned nearly 53.7% of PZMS’s shares, gifted this stake to his relative, Leonid Oleksandrovych Nekrasov, who had previously held more than 6% of the company’s shares; following the gift, his stake exceeded 59.7% of the company’s authorized capital.

Oleksandr, Leonid, and Konstantin Oleksandrovych Nekrasov, in particular, are co-owners of the pharmaceutical manufacturer “Lubnyfarm.”
According to information on its website, the Poltava Medical Glass Plant is Ukraine’s leading manufacturer of ampoules for pharmaceuticals.

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PJSC “Yuria” Increased Its Half-Year Net Profit to 67.2 Mln UAH

PJSC ‘Yuria’ (trademark “Voloshkove Pole”) increased its net profit to 67.2 million UAH in January–June 2026, up from 1.8 billion UAH during the same period last year.

According to the company’s disclosure in the National Securities and Stock Market Commission (NSSMC) disclosure system, its revenue grew by 10.4% to 1.19 billion UAH.
According to the financial statements, the company’s gross profit for the first half of the year increased by 46.1% to 179.8 million UAH, while operating profit rose 14.2-fold to 72.6 million UAH.

As of June 30, 2026, PJSC “Yuria’s” assets totaled 1.092 billion UAH, compared to 1.039 billion UAH at the beginning of the year; its accumulated losses decreased to 275.2 million UAH from 342.5 million UAH, while current liabilities rose to 1.325 billion UAH from 1.271 billion UAH; of this amount, 700.9 million UAH consisted of accounts payable to suppliers, and 473.9 million UAH consisted of advances received.

At the same time, the company significantly reduced its bank debt: long-term loans at the beginning of the year amounted to 67.7 million UAH, while as of the end of June, the financial statements showed only 1 million UAH in short-term loans.

As previously reported, at an extraordinary general meeting on July 2, 2026, the shareholders of PJSC “Yuria” preliminarily approved the conclusion of significant transactions with JSC “Pivdenny” totaling up to 900 million UAH, including loan and other financial agreements, as well as amendments to existing agreements regarding financing limits, terms, interest rates, and fees.

PJSC “Yuria” is the legal successor to the Cherkasy City Milk Processing Plant, which has a design capacity of 25 metric tons of raw milk processing per day. It ranks among the top ten largest Ukrainian milk producers.

The dairy producer, operating under the “Voloshkove Pole” trademark, invested EUR 1.5 million in 2023 to install a Tetra Pak production line in order to double its output of ultra-pasteurized milk. In 2024, the company invested EUR 1.6 million in modernizing the production facilities of its enterprises and commissioned a new production line for glazed cheese curds.

The company has two subsidiaries: “Yuria-2”—a network of brand-name stores and kiosks in Cherkasy—and “Yuria-Trans”—a trucking company that delivers raw materials and supplies for processing, products to retail outlets, and provides other transportation services. Its raw material supply area covers the Cherkasy, Kirovohrad, Poltava, Kyiv, and Vinnytsia regions. Milk is collected from over 200 settlements.

The company’s beneficial owners are Oleksandr and Andriy Tabalov.
According to the annual report, “Yuriya’s” revenue in 2025 grew by 27.8%—to 2.20095 billion UAH—while net profit amounted to 62.68 million UAH, compared to a net loss of 121.95 million UAH the previous year.

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“Ukrainian Insurance Group” Increased Its Net Profit by 2.5 Times

PJSC “Ukrainian Insurance Group” (Kyiv) collected 1.807 billion UAH in net premiums in January–June 2026, which is 28.1% more than in the same period of 2025, according to the insurer’s interim data published in the disclosure system of the National Securities and Stock Market Commission (NSSMC).

At the same time, gross premiums for the reporting period increased by 0.6% to 1.932 billion UAH. A total of 244.7 million UAH was ceded to reinsurers, which is 26.3% more than in the first half of 2025.

During the reporting period, the company made claims payments totaling 894.1 million UAH, which is 37.6% more than in the first six months of 2025.
Gross profit amounted to 787.2 million UAH (+16%).

Operating profit was 148.4 million UAH, whereas for the same period a year earlier, operating profit was 19.6 million UAH, profit before tax was 265.1 million UAH (2.5 times higher), and net profit was 217.3 million UAH (+2.5 times).
The controlling shareholder of “IC “USG” is the Vienna Insurance Group, an international insurance group headquartered in Austria, represented by 50 companies in 30 countries and a leader in the insurance market of Central and Eastern Europe.

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“NovaPay Credit” Increased Its Half-Year Profit 3.2-Fold

“NovaPay Credit,” a subsidiary of the international financial services company “NovaPay” (TM NovaPay) within the Nova Group, which is the issuer of NovaPay bonds, increased its net profit 3.2-fold in the first half of 2026 compared to the same period in 2025—to 172.01 million UAH, according to its interim condensed financial statements.

According to the report, revenue for the first half of the year increased 2.2 times compared to the same period last year—to 586.42 million UAH.
Gross profit increased 2.9-fold to 265.41 million UAH, while operating profit rose 3.2-fold to 229.17 million UAH.

The report notes that in the second quarter of 2026, the company increased its net profit by 4.9 times compared to the same period in 2025—to 97.50 million UAH—amid a 2.4-fold increase in revenue—to 312.96 million UAH.
Gross profit in the second quarter of 2026 also increased 4.3-fold to 151.35 million UAH, while operating profit rose 4.9-fold to 129.91 million UAH.

According to the report, equity for the first half of this year rose from 516.5 million UAH to 688.5 million UAH, while liabilities increased from 1 billion 371.0 million UAH to 1 billion 690.8 million UAH.
It is noted that the company increased proceeds from bond sales in January–June of this year to 693 million UAH from 355.63 million UAH in the first half of last year, while expenses for their redemption also rose—to 578.80 million UAH from 244.92 million UAH, respectively.

As for proceeds from repo agreements involving bonds—which the company offers as an alternative to bank deposits—they rose in the first half of 2026 to 882.32 million UAH from 705.88 million UAH, while expenses under such agreements rose to 727.59 million UAH from 422.03 million UAH.
Among other things, the report also notes that in July, a decision was made to issue Series “R” bonds on the “Perspektiva” Stock Exchange (PJSC) with a par value of 200 million UAH; The bonds were issued in the traditional denomination of 1,000 UAH each, with a maturity date of September 3, 2029.

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“Ukrenergomashiny” Increased Its Half-Year Profit Nearly 13-Fold

JSC “Ukrenergomashiny” (Kharkiv) ended the January–June 2026 period with a net profit of 6.46 million UAH, while for the same period in 2025, this figure stood at 0.5 million UAH.

According to the company’s financial report, published in the disclosure system of the National Securities and Stock Market Commission (NSSMC), net sales revenue increased by 35.5% to 635.1 million UAH.
The plant generated 0.1 million UAH in operating profit (compared to 13.8 million UAH last year), and gross profit increased by 68.7% to 237.4 million UAH.

Retained earnings as of the end of the first half of the year amounted to 2.669 billion UAH.
As previously reported, in the first quarter of this year, “Ukrenergomashiny” reported a net profit of 0.74 million UAH (compared to 0.25 million UAH for the same period in 2025), driven by a 27.4% increase in net revenue to 287.1 million UAH.

According to the report, total exports in January–June amounted to 13.8 million UAH (4.5% of sales volume).

The main foreign customers were the “Eurasian Energy Corporation” (Kazakhstan) and “Tajik SGEM” (Tajikistan), while the main Ukrainian customers were “NAEK Energoatom” and “Ukrhydroenergo”; SNVO “Impuls”; “Ukrzaliznytsia,” “Mykolaiv Diesel Locomotive Repair Plant,” “Kryukiv Railway Car Building Works,” “DTRZ,” “TATRA-YUG,” “ArcelorMittal Kryvyi Rih,” and “NVK ‘ISKRA.’”

The company identifies its main competitors as the foreign firms Andritz (Austria), Voith (Germany), General Electric (U.S.), and Bharat Heavy Electric Ltd. (India).

“Ukrenergomashiny” notes that the total planned capital investment for 2026 amounts to 60 million UAH, and the actual disbursement of funds for the second quarter was 2.54 million UAH, including 0.53 million UAH for the purchase of new equipment and 0.7 million UAH for installation work and equipment modernization. Funding will be provided from the company’s own resources.

JSC “Ukrenergomashiny,” more than 75.22% of whose shares are owned by the state, is Ukraine’s sole manufacturer of turbine equipment for hydroelectric, thermal, and nuclear power plants. It also manufactures electric motors for rail and urban transit.
The average number of full-time employees as of July 1 of this year was 2,687.

In 2025, the company increased its net revenue by nearly 33% compared to 2024—to 1.06 billion UAH—and its net profit by a factor of 3.5, to 3.07 million UAH.

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Novoselivsky Mining and Processing Plant Reports 7.8% Decline in First-Half Profit

PJSC “Novoselivsky Mining and Processing Plant” (NGZK, Kharkiv Oblast) saw its net profit decline by 7.8% in January–June of this year compared to the same period last year—to 12.480 million UAH from 13.536 million UAH.

According to the company’s interim report, available to the agency “Interfax-Ukraine,” revenue from ordinary activities for this period rose by 7.4%—to 112.440 million UAH.

Retained earnings as of the end of June 2026 amounted to 116.772 million UAH.

As previously reported, NGZK posted a net loss of 4.441 million UAH in January–March of this year, whereas in the same period last year it reported a net profit of 3.677 million UAH; revenue from ordinary operations for that period was 36.067 million UAH (47.396 million UAH).

According to the annual report, NGZK increased its net profit to 20.170 million UAH in 2025 from 18.938 million UAH in 2024. At the same time, revenue from ordinary operations for this period increased compared to 2024, rising to 190.631 million UAH from 168.553 million UAH.

In 2024, NGZK increased its net profit by 6.1% compared to 2023—to 18.938 million UAH, while net revenue rose by 11.6% to 168.553 million UAH.

The Novoselivsky Mining and Processing Plant was established in 2000. It is engaged in the extraction of sand, gravel, and clay.

According to data from the National Securities and Stock Market Commission for the first quarter of 2026, Silica Holding LLC (Ukraine) owns 94.8205% of the public joint-stock company.

The authorized capital is 21.25 million UAH.

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