PJSC “Central Mining and Processing Plant” (CMPP, Dnipropetrovsk Oblast), a member of the Metinvest Group, reported a 17.8% reduction in its net loss for January–June of this year—to 940.865 million UAH from 1 billion 144.522 million UAH in the same period last year.
According to the company’s interim report, which is available to the “Interfax-Ukraine” agency, revenue from ordinary operations for this period increased by 11.8% to 9 billion 4.528 million UAH.
Retained earnings as of the end of June amounted to 2 billion 161.850 million UAH.
As previously reported, TsGZK’s net loss for the first three months of 2026 increased by 20.9%—to 468.466 million UAH from 387.594 million UAH in the same period last year. Revenue from ordinary operations for this period decreased by 3%—to 4.406260 billion UAH.
In 2025, TsGZK saw its net loss increase 5.3-fold, to 3,428.076 million UAH from 648.004 million UAH in 2024. At the same time, revenue from ordinary operations for the past year rose by 1%—to 15,988.004 million UAH.
The plant ended 2024 with a net loss of 648.004 million UAH, whereas in 2023 it amounted to 1 billion 326.661 million UAH. In 2022, the company saw its net profit drop by more than four times, to 2,117.831 million UAH from 8,919.978 million UAH in 2021. In 2020, TsGZK increased its net profit by 8.7% compared to the previous year, reaching 1.601 billion UAH.
TsGZK is one of Ukraine’s five largest producers of mining raw materials and specializes in the extraction and production of iron ore (concentrate and pellets). The average number of full-time employees is 3,360.
Metinvest B.V. owns 100% of the shares in TsGZK.
The authorized capital of PrJSC “TsGZK” is 296.635 million UAH, and the par value of each share is 0.25 UAH.
TsGZK is part of the Metinvest Group, whose major shareholders are PJSC “System Capital Management” (SCM, Donetsk) (71.24%) and the “Smart-Holding” group of companies (23.76%). The management company of the Metinvest Group is Metinvest Holding LLC.
“Ukrtelecom,” the country’s largest fixed-line operator, increased its total revenue by 12.6% in the first half of 2026 compared to the same period last year—to 2.78 billion UAH, while EBITDA rose by 50% to exceed 810 million UAH, according to a company press release on Friday.
“As it has throughout the full-scale war, Ukrtelecom continues to implement its strategic approach: not merely to restore damaged networks, but to replace outdated infrastructure with modern telecom and IT equipment to implement a new optical telecom architecture and a modern IT landscape for the company,” emphasized Yuriy Kurmaz, CEO of Ukrtelecom, in the press release.
According to him, as of today, the company has over 95,000 km of fiber-optic network and is continuing a large-scale modernization of its infrastructure across the country.
It is noted that the EBITDA margin has risen to more than 29%.
The number of new connections in the residential segment increased by 81% compared to the same period last year, while the figure for small and medium-sized businesses rose by 17%.
Ukrtelecom specified that, as of the end of the first half of 2026, 1,400 medical facilities and 2,000 educational institutions were connected to the fiber-optic network. Meanwhile, revenue from fiber-optic internet services in the first half of 2026 increased by 12.5% compared to the same period last year.
Among other things, the fixed-line operator reported that revenue from commercial leases for the first six months of 2026 exceeded 320 million UAH, representing growth of more than 20% compared to the same period in 2025.
The company added that, according to survey results, the net promoter score (NPS) for new fiber-optic subscribers of the fixed-line operator in the first half of 2026 was more than 70%.
Separately, the CEO of Ukrtelecom noted that the company is simultaneously building fiber-optic networks while restoring and modernizing infrastructure damaged by hostilities in frontline regions of the Kharkiv, Sumy, Kherson, Mykolaiv, and Dnipropetrovsk regions, as well as other regions of Ukraine.
It is noted that in the first half of 2026, the company paid nearly 800 million UAH in taxes and fees to budgets at all levels.
The fixed-line operator is expected to continue investing in the development of telecommunications infrastructure.
In January–March 2026, Ukrtelecom reported a consolidated net profit of 15.46 million UAH, compared to a net loss of 652.95 million UAH for the same period in 2025.
As previously reported, in 2025, Ukrtelecom increased its consolidated net loss by 24.6% compared to 2025—to 294.87 million UAH—while its net revenue grew by 3.2%—to 4.27 billion UAH.
PJSC “Pokrovsky Mining and Processing Plant” (PGZK, formerly Ordzhonikidze Mining and Processing Plant, Dnipropetrovsk Oblast) increased its net loss by 30.3% in January–June of this year compared to the same period last year, reaching 194.190 million UAH.
According to PGZK’s interim report for the first six months of 2026, which is available to the Interfax-Ukraine news agency, revenue from ordinary operations for this period decreased by 29.5% to 374.943 million UAH. The accumulated loss as of the end of June 2026 amounted to 556.538 million UAH.
The report notes that the Nikopol Ferroalloy Plant and ZZF remain the company’s main customers at present. At the same time, PGZK continues to expand its sales geography by maintaining negotiations with potential foreign buyers. During the reporting period, foreign trade contracts were signed with partners from Georgia and Slovakia. Actual product shipments are currently being made to both countries.
In the second quarter of 2026, management identified the following key areas of focus: reducing and optimizing tax liabilities; improving energy efficiency by reducing specific energy consumption; optimizing the use of fuels and lubricants; improving the organizational structure and optimizing staffing levels; increasing revenue from ancillary activities, in particular the sale of ferrous and non-ferrous scrap metal and the provision of transportation and construction services; continuing to support the Armed Forces of Ukraine.
As reported, PGZK increased its net loss by 25.56% in January–March 2026 compared to the same period last year—to 114.678 million UAH from 91.322 million UAH; revenue from ordinary operations for this period decreased by 52.2%—to 133.646 million UAH.
In 2025, PGZK reduced its net loss by 47% compared to 2024—to 377.357 million UAH from 712.380 million UAH; income from ordinary activities for this period increased by 26%—to 1 billion 281.772 million UAH.
Four Cypriot companies—Profetis Enterprises Limited, Exseed Investments Limited, Clemente Enterprises Limited, and Alexton Holdings Limited (all based in Cyprus)—each own 24.3024% of the shares in the private joint-stock company.
The authorized capital of the private joint-stock company is 736.134 million UAH, and the par value of each share is 0.25 UAH.
EXPORTS, LOSS, MANGANESE, Pokrovsky Mining and Processing Plant, REVENUE
The aviation industry enterprise FED JSC (Kharkiv) reduced its net profit 3.9-fold in January-June 2026 compared with the first half of 2025, to UAH 40.8 million.
According to the company’s interim report published in the disclosure system of the National Securities and Stock Market Commission, its net revenue increased slightly, by 1.7%, to UAH 611.6 million.
FED posted almost UAH 153 million in gross profit, compared with UAH 181.7 million a year earlier, while operating profit fell 2.8-fold to UAH 70.3 million.
Retained earnings exceeded UAH 1.53 billion as of July 1, 2026.
“The main risks in the company’s operations are associated with a significant increase in prices for electricity, gas and other resources. Martial law is also in effect in our country, forcing the company to operate under force majeure conditions,” the report states.
As reported, in the first quarter of 2026, the company’s net profit fell 6.7-fold compared with the same period of 2025, to UAH 17 million, amid a 10% increase in net revenue to UAH 336.6 million.
FED JSC specializes in the development, production, servicing and repair of components for aviation, space and general engineering purposes.
The average number of full-time employees as of July 1, 2026, was 1,010.
In 2025, FED increased its net profit by 3.4% compared with 2024, to UAH 187.6 million, while net revenue rose by 26.5% to UAH 1.05 billion.
As reported, by the end of this year, FED will pay shareholders UAH 40 million in dividends, equivalent to almost UAH 5,150 per share. More than 98% of FED JSC shares are owned by the company’s director, Viktor Popov.
Pivdenny Mining and Processing Plant, PJSC (Pivdenny Mining and Processing Plant, Kryvyi Rih, Dnipropetrovsk Oblast) increased its net profit by 73.5% in January–June of this year compared to the same period last year—to 199.318 million UAH from 114.912 million UAH.
According to the mining and processing plant’s interim report, available to the agency “Interfax-Ukraine,” revenue from ordinary activities for this period decreased to 8,931.263 million UAH from 12,693.475 million UAH.
Retained earnings as of the end of June 2026 amounted to 25,836.844 million UAH.
Iron ore concentrate production for the second quarter of 2026 totaled 1,913.7 thousand metric tons, while sales for this period amounted to 1,906.8 thousand metric tons.
As previously reported, in the first quarter of 2026, Pivdenny GOK saw its net loss increase 8.5-fold compared to the same period in 2025—rising to 866.813 million UAH from 100.859 million UAH. During this period, revenue from ordinary activities decreased to 3,987.535 million UAH from 6,350.714 million UAH.
In January–September 2025, Southern GOK reported a net profit of 389.930 million UAH, whereas in the same period of 2024 it amounted to 2,476.267 million UAH; revenue from ordinary activities increased by 41.3% to 19,020.077 million UAH.
The annual report for 2025 has not yet been published.
Pivdenny GOK is one of Ukraine’s leading producers of iron ore concentrate. It is engaged in the mining and beneficiation of low-grade iron-bearing quartzites to produce iron ore concentrate. The plant’s raw material base consists of quartzites from the Skelevatsky deposit, located in the central part of the Kryvyi Rih iron ore basin.
At the start of the war, Pivdenny GZK was controlled by the Metinvest Group and Lanebrook Ltd. (formerly the majority shareholder of Evraz Group, which withdrew from the group’s shareholder structure in 2018), which acquired a 50% stake in PGZK from the Privat Group (Dnipro) in late 2007.
According to the National Securities and Stock Market Commission’s data for the first quarter of 2026, Zantest Limited holds 29.8815% of the company’s shares, and Jetere Limited (both based in Cyprus and registered at the same address) holds 59.7630%.
The company’s authorized capital is 535.915 million UAH, and the par value of each share is 0.25 UAH.
PJSC “Zaporizhzhia Ferroalloy Plant” (ZZF) reported a 17.2% decrease in net profit for January–June of this year compared to the same period last year, down to 103.958 million UAH.
According to the company’s interim report, published in the disclosure system of the National Securities and Stock Market Commission, the plant increased its net revenue by 9.1% during the reporting period, to 816.929 million UAH.
Retained earnings as of the end of June of this year amounted to 1 billion 900.380 million UAH.
The management report notes that operating the furnaces in a balancing mode between periods with the highest electricity costs is a strategy the company developed in the first quarter, which helped reduce production losses in the second quarter as well. Constant monitoring and analysis of the electricity market, along with collaboration between the production and finance departments, made it possible to develop and implement measures that optimized production schedules to avoid significant production losses and minimize losses as much as possible: April – estimated reduction in losses of 4.9 million UAH (excluding VAT), including a reduction of 3.6 million UAH due to electricity prices; estimated metal losses due to high electricity prices – 95.3 metric tons; May – estimated reduction in losses of 12.4 million UAH (excluding VAT), including a reduction of 4.18 million UAH due to electricity prices; estimated reduction in metal losses due to high electricity prices – 168.2 metric tons; June – estimated reduction in losses of 3.04 million UAH (excluding VAT), including a reduction attributable to electricity prices of 5.2 million UAH; estimated metal losses due to high electricity prices – 130.8 metric tons.
Regarding electricity costs—during the war, prices for electricity and its transmission more than doubled, solely due to increases in ceiling prices and tariffs for transmission and distribution services. Estimated losses for the second quarter of 2026 amounted to 6.1 million UAH (including VAT), including: – due to an increase in the tariff for electricity transmission services via the NEC “Ukrenergo” (+4% compared to the rate in effect in the first quarter of 2026, or 29.23 UAH/MW (excluding VAT)), additional expenses for the second quarter of 2026 were estimated at 0.88 million UAH (including VAT) – due to an increase in the distribution tariff of JSC “Zaporizhzhiaoblenergo” (+7.1% compared to the rate in effect in the first quarter of 2026, or 20.80 UAH/MW for the first voltage class; +3.7% compared to the rate in effect in the first quarter of 2026, or 102.38 UAH/MW for the second voltage class), additional expenses for the second quarter of 2026 were estimated at 0.42 million UAH (including VAT)—due to an increase in the RDN price caps effective April 30, 2026 (up to 15,000 UAH/MW (excluding VAT) during all hours), the estimated additional expenses for the second quarter of 2026 amounted to – 4.8 million UAH (including VAT).
In addition, due to the inability to promptly sell the purchased electricity, the company incurred additional losses resulting from imbalances—losses caused by ill-considered price caps in the balancing market. If the company does not draw the purchased volume of electricity, the remaining amount is directed to the imbalance market, where the purchase price for the company may be 0.01 UAH per 1 MW. In other words, we buy for 3,000–15,000 UAH but sell for 0.01 UAH. Conversely, if the company purchases more than it needs, the price for the excess is marked up by 5% to as much as 100–8,000%. This alone caused the company to lose 0.2–0.4 million UAH per month, and for the second quarter of 2026, estimated losses totaled 0.58 million UAH, including VAT. New technologies for the production and use of raw materials are being developed.
In June, two pilot-scale production campaigns were conducted: – production of MnS17P10 using the company’s own raw materials from ferromanganese production. The feasibility of production meeting the specified quality characteristics was demonstrated; – production of FMn78 using Grade 1b ore as an alternative to Grade 1 ore with a higher manganese content as the primary element. The results confirmed the feasibility of producing metal with specific quality characteristics.
Measures to optimize staffing levels, which were gradually implemented at the enterprise amid mobilization and to ensure minimal operations, led to a significant reduction in personnel.
“Currently, only the best professionals remain—those who have been working for many years and know and understand ferroalloy production. And this staff has remained, for now, to operate 3 furnaces (out of the 31 available),” the report states.
The actual number of employees as of June 24 of this year is 1,037. At the same time, to maintain the company’s image as one that implements new technological and technical solutions amid a complex economic and political situation, it became necessary to respond promptly to changes in the company’s operating conditions: – a constant search for potential markets for its core and other commercial products; – increasing the competitiveness of its products and, as a result, setting a primary objective; – finding ways to reduce costs in the production of both core and other products.
Based on the results of operations for the second quarter of 2026, the company reports the following key figures: The volume of commercial ferroalloy production amounted to 6,000 metric tons, with 7,800 metric tons sold for a total of 503.6 million UAH, including VAT. During the second quarter of 2026, taxes totaling 18 million UAH were paid to the state and local budgets, including to the state budget: customs duties—4.6 million UAH, military levy – 2.7 million UAH, and environmental tax – 0.2 million UAH; and to the local budget: personal income tax – 9.7 million UAH, and environmental tax – 0.2 million UAH.
In addition, a unified social contribution of 11.6 million UAH was paid. The main achievements of the second quarter include maintaining production operations despite low product prices and the steady rise in electricity and transportation costs. Plans are in place to continue operations within established targets, taking into account best practices across all areas of the company. New methods of motivating and rewarding staff are being developed.
The report notes that to reduce dependence on external factors affecting electricity supply—based on experience with the consequences of power grid failures — the company built and commissioned its own 0.8 MW/h solar power plant in December 2024 to meet its own needs. Since the project’s implementation, 980.6 MW of electricity has been generated. This has reduced electricity procurement costs by 4.51 million UAH and represented a significant step forward in developing the company’s modern, decentralized power supply.
Total sales for the reporting period amounted to 14,554 thousand metric tons of ferroalloys, worth 815.845 million UAH. Exports totaled 3,604 thousand metric tons of ferroalloys (23% of total ferroalloy sales for the first half of 2026).
As previously reported, based on its performance in January–March 2026, ZZF saw its net loss increase 2.4-fold compared to the same period last year—from 34.731 million UAH to 84.689 million UAH, while net revenue increased by 26.3%—to 377.006 million UAH from 298.557 million UAH.
Based on its 2025 results, ZZF reduced its net loss by 98.5% compared to 2024—to 27.962 million UAH from 1 billion 862.784 million UAH. At the same time, the plant increased its net revenue by 55.7%—to 1,522.567 million UAH from 977.660 million UAH.
In 2024, ZZF doubled its net loss compared to the previous year—to 1,862,784 million UAH. At the same time, net revenue decreased by 34.7%, to 977,660 million UAH.
PJSC “Zaporizhzhia Ferroalloy Plant” is one of Ukraine’s two main producers of these products.
According to the National Securities and Stock Market Commission’s data for the fourth quarter of 2025, Matrimax Limited and Soltex Limited each own 22.4486% of the company’s shares, Tapesta Limited owns 18.8903%, Walltron Limited (all based in Cyprus) holds 18.642%, and Halefield Holdings Limited (Belize) holds 7.7508%.
The authorized capital of ZZF PJSC is 227.955 million UAH, and the par value of one share is 0.1 UAH.
