Business news from Ukraine

Business news from Ukraine

EVA chain increased its revenue to UAH 14.8 bln in first half of year and opened 29 stores

Rush LLC, owner of the EVA chain in Ukraine, received UAH 14.8 billion in net income in January-June 2025, which is almost 19% more than in the same period of 2024, according to the company’s press service.

The release specifies that net profit for the period amounted to UAH 548 million, while tax payments reached almost UAH 2.5 billion.

In the first half of the year, the company invested UAH 800 million. Significant areas of investment include network development, modernization, and rebranding (almost UAH 150 million), the acquisition of a logistics complex in Brovary from Dragon Capital, as well as the expansion of the self-service checkout network and the introduction of a new store format.

During the first half of the year, the company opened 29 new stores, 16 of which feature the “Women’s Energy” design. The chain now has 1,127 stores in operation, 143 of which feature the “Women’s Energy” design and three in the EVA BEAUTY format.

Thanks to the expansion of its network, EVA has created 225 new jobs. As of June 30, the company had a total of 13,949 employees.

EVA’s private label department continues to develop its portfolio, which currently includes 66 brands. In particular, the division has entered a new category: car fragrances.

In the decorative cosmetics category, the trendy Jelly collection from GlamBee was presented, and the Fabien Marche perfume brand was expanded with two new lines: Hermetic Collection and Kaleidoscop Collection. A new line of skincare products for problem skin, MAY face, was also launched.

The share of private label products in the company’s sales in real terms amounted to 37.88% in the first half of the year. In the second half of the year, specialists plan to focus on developing exclusive private label projects for EVA.UA (beauty gadgets, fitness accessories, etc.), as well as introducing new hair coloring, toning, and styling products to customers.

The company’s logistics department has completed a number of large-scale projects. At the beginning of the year, an agreement was signed with Dragon Capital to acquire a logistics complex in Brovary.

The modernization of the online store’s distribution centers in Lviv and Brovary has increased the maximum order processing capacity from 12-15 thousand to 20 thousand per day at each warehouse. Significant software improvements have been implemented to optimize the selection and control of online orders. All this has made it possible to increase employee productivity in the control and packaging department by 75%, reduce the number of errors in order packaging to 0.013%, cut operating costs for control and packaging by 40%, and reduce the average order picking time by almost 2.5 hours.

Another important area of work for the logistics department is the development of its own courier service. In Dnipro, Lviv, and Kyiv, according to the results of the first half of the year, 68% of courier deliveries are already carried out using the company’s own resources. In the near future, it is planned to expand the service to Odesa and Kharkiv. The share of in-house deliveries to pick-up points in stores has also increased from 54% at the end of 2024 to 64% at the end of the first half of 2025.

The EVA.UA marketplace already offers over 350,000 products from EVA itself and over 130 partner sellers. The growth rate of the company’s online store traffic in the first half of 2025 compared to the same period in 2024 was 26%, the growth rate of orders was 35%, and the growth rate of turnover was 56%.

More than a third of orders on EVA.UA continue to be placed via the company’s mobile app. At the end of the first half of the year, it had over 5.6 million installations and over 800,000 active users per month. In the first half of the year, the company integrated the VISUAL by EVA functionality into the app. In addition, EVA launched a personalized consultation service with a cosmetologist expert in Viber and Telegram chatbots. Currently, EVA chatbots have over 2 million subscribers.

Rush LLC, which manages the EVA chain, was founded in 2002. As of early 2025, the chain had 1,109 stores in operation.

According to Opendatabot, the owner of Rush LLC is listed as Incetera Holdings Limited (100%), a Cypriot company, with Ruslana Shostak and Valeria Kiptika as the ultimate beneficiaries.

At the end of 2024, Rush’s revenue increased by 28.2% compared to the previous year, to UAH 27 billion. Net profit decreased by 36.7%, to UAH 1.4 billion.

 

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Ukrtelecom increased its revenue by 7.4% in first half of 2025

Ukrtelecom, Ukraine’s largest fixed-line operator, reported total revenue of nearly UAH 2.47 billion for January-June 2025, up approximately 7.4% from the same period in 2024 (nearly UAH 2.3 billion), the company said on Friday.

According to its release, EBITDA for the first six months of this year amounted to over UAH 540 million, compared to approximately UAH 620 million for the first six months of last year, i.e., a decrease of approximately 12.9%, while EBITDA margin fell to 22.1% from 27%.

It is noted that in January-June this year, over UAH 785 million in taxes and fees were paid to budgets of all levels, compared to over UAH 660 million for the same period last year.

According to the release, Ukrtelecom increased its revenue from optical Internet services by 10.5% in the first half of this year.

This was achieved due to a 17.6% increase in the number of new fiber-optic subscribers in the mass B2C segment and a 10% increase in the business segment (large enterprises and SMEs) compared to the same period last year.

It is also noted that since the beginning of the year, more than 2,000 km of fiber-optic lines have been laid, and more than 60 medical and nearly 100 educational institutions have been connected to fiber-optic internet, while in the first half of 2024, these figures were approximately 50 and more than 70, respectively. As of the end of the first half of 2025, the company’s optical network covers more than 1,350 medical and over 1,800 educational institutions.

According to the company, the loyalty level of new optical subscribers of Ukrtelecom (NPS – Net Promoter Score) in January-June was 67%.

In addition, Ukrtelecom emphasized that revenues from commercial leases in the first half of 2025 exceeded UAH 260 million, which is 23.8% more than in the first half of 2024.

Ukrtelecom CEO Yuriy Kurmaz also noted among the achievements of the first half of the year the company’s entry into the Connect Europe association, which brings together leaders in the telecom industry in Europe.

As reported, in January-March 2025, the company increased its revenue by 3.5% compared to the same period in 2024, to UAH 1.17 billion, while EBITDA in the first quarter of this year fell by 41.1%, to UAH 162 million. Thus, in the second quarter, the company increased its revenue by approximately 11.1% to UAH 1.3 billion, and EBITDA by 9.6% to UAH 378 million.

 

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Domino’s Pizza increased revenue by 4%, but profit decreased by 8%

The pizza chain Domino’s Pizza Inc. increased its revenue by 4% in the second quarter of fiscal year 2025, while its net profit decreased by 8%.

According to the company’s press release, quarterly revenue amounted to $1.15 billion compared to $1.1 billion in the same quarter last year.

Domino’s Pizza’s net profit for the quarter ended June 15 fell to $131.1 million from $142 million a year earlier. Earnings per share decreased to $3.81 from $4.03, which was worse than the consensus forecast of $3.95 of analysts polled by LSEG.

The decline in net income was due, in particular, to a change in the company’s investment in DPC Dash Ltd.

Comparable sales of Domino’s in the United States grew by 3.4% last quarter, which was better than the average analyst forecast (+2.2%). Comparable sales abroad increased by 2.4%.

Last quarter, 178 Domino’s restaurants were opened, including 30 in the United States.

The company’s shares jumped 5.3% in pre-market trading on Monday. Since the beginning of this year, their value has increased by 11%.

 

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“Metinvest” increased its revenue by 22% to $4.319 bln in first half of year

Metinvest Mining and Metallurgical Group’s consolidated revenue in the first half of 2024 amounted to $4.319 billion, up 22% to the first half of 2023, this result is mainly due to a 63% increase in sales to $1.847 billion of the mining segment due to the easing of logistical restrictions for Ukrainian exports and increased demand for pellets.
“The Black Sea corridor has enabled the sale of iron ore products to China… External revenues of the steel and mining segments grew by 2% and 63% year-on-year respectively, with the steel segment accounting for 57% and the mining segment 43% of total revenues,” the company said in a report Friday evening.
According to it, adjusted EBITDA increased to $650 million, up 33% due to improved performance in both segments, with the metals segment contributing 25% and the mining segment 75%.
Total debt and net debt decreased by 12% and 4%, respectively, to $1.740 billion and $1.284 billion. It is noted that the group managed to repay more than $500 million of debt from the start of full-scale invasion until the end of June 2024.

 

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National Bank has ranked Ukrainian financial companies by revenue in 2023

Providing microcredits “Ukr Credit Finance” (TM “CreditKasa”) and “1 Safe Agency of necessary loans” (TM “MyCredit”) received the highest revenue among financial companies in 2023 – respectively UAH 3.12 billion and UAH 2.33 billion, the National Bank reported on its website.

The next three companies were formed by FC “E Groshi Kom”, “Miloan” and “Aventus Ukraine” (TM CreditPlus), whose revenue amounted from UAH 1.66 billion to UAH 1.46 billion.

According to the results of 2022, the leaders in terms of revenue were Finod LLC, engaged in currency exchange and deprived of all licenses by the National Bank in August 2023, and Novapey payment system, the data of which the National Bank stopped publishing after re-licensing of payment systems. The net income of these companies in 2022 amounted to respectively UAH 5.41 and 5.18 billion, while the places from third to fifth were taken by “Ukr Credit Finance”, “Aventus Ukraine” and “E Groshi com” with revenue from UAH 2.50 billion to UAH 1.27 billion.

According to the results of 2023, net income over UAH 1 billion was received by five more companies, of which only one is not from the microcredit market: the network of payment terminals FC “Kontraktovy Dom” (TM “Easypay”), which received UAH 1.38 billion.

Following with relatively close revenue figures – from UAH 1.33 billion to UAH 1.07 billion are Lineura Ukraine (TM “Credit7”), LLC “Maniveo Fast Financial Assistance” (Moneyveo), “Consumer Center” (TM “ShvidkoGroshi”) and “Advance Credit”, which demonstrated the highest growth dynamics by the previous year among the entire top ten – almost 37 times.

Among the leaders, the highest labor costs were incurred by “Consumer Center” – UAH 167.8 million, or 13.6% of revenue, while at “Avans Kredit” they amounted to UAH 29.3 million, or 1.8% of revenue.

According to the NBU data, in 2023 the profitability of companies improved dramatically: of the 40 largest representatives of the market, all, except for the State Mortgage Institution (SMI), ended the year with net profit, which totaled UAH 1.57 billion, while a year earlier there were 15 unprofitable companies.

The leader in net profit among financial companies for the past year was PJSC “Ukrfinzhytlo” – UAH 5.94 billion. It is followed by Ukr Credit Finance – UAH 202.7 million, the State Fund for Entrepreneurship Development, the operator of state support programs – UAH 177.7 million and Bizpozyka – UAH 177.1 million.

Slightly behind was Maniveo Fast Financial Aid, which earned UAH 167.7 mln, which allowed it to partially offset UAH 625.6 mln of the previous year’s net loss.

“Ukrfinzhytlo” also significantly outperformed all and in terms of assets – 60.89 billion UAH, owing the primacy in these two categories to its capitalization at the expense of government bonds.

Avior FC specializing in lending to agrarians is next – UAH 12.05 billion, whose revenue amounted to UAH 125.4 million last year.

The other eight companies in the top ten with assets from UAH 8.68 billion to UAH 3.55 billion had no revenue last year, while salary expenses and net profit were minimal.

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“Metinvest presented its annual report on its operations

According to Metinvest Group’s annual report, in 2023 Metinvest’s revenue decreased by 11% to $7.397 bln by 2022, mainly due to lower steel, iron ore and coking coal selling prices, which were in line with global rates. Also, sales volumes of pig iron, slabs, flat and tubular products were affected by the war from the suspension of production at Mariupol steel mills. At the same time, Metinvest increased shipments of other products in its portfolio (primarily billets by 6%, long products by 28%, pellets by 70% and coking coal concentrate by 32%), as well as steel and coke resales on the back of higher production at Zaporizhstal.

A significant factor supporting iron ore sales in H2 2023 was the opening of the Black Sea corridor for sales to distant markets.

Also, Metinvest’s revenue in Ukraine grew by 14% to $2.628 bln mainly due to a recovery in demand for iron ore and coking coal, as well as for flat and long products.

In turn, the group has had to make profound changes to its business operations as it continues to strive for adaptability and resilience.

“We have adjusted our supply chain and are strengthening relationships with our suppliers and customers to withstand the current conditions. At the beginning of 2023, the company experienced significant challenges, particularly due to power outages. However, by implementing the necessary changes to respond to this crisis, we were able to achieve a gradual recovery of production,” states the CEO.

He emphasized that the resumption of Ukrainian commercial shipping in the Black Sea later in 2023 was an important moment for Metinvest, allowing to increase capacity utilization. “We are cautiously optimistic about this undoubtedly positive development, while recognizing the ongoing military threats,” the top manager added.

According to him, these developments have directly impacted the group’s financial performance, improving the situation and allowing us to focus on operational efficiency, flexibility and strategic planning for future growth.

“Metinvest remains committed to servicing its debt obligations, having repaid the remaining principal amount of the group’s 2023 bonds redeemed last year on time and in full, while maintaining its deleveraging approach, Ryzhenkov said.

“Although Metinvest has focused its investments in 2023 mainly on maintaining its assets, I firmly believe that we must start preparing for the future. Our ambitions have not diminished; we have laid the foundation for Steel Dream, our visionary vision for rebuilding Ukraine. Despite the war, our commitment to a green transformation strategy also remains unchanged. This vision embodies our determination not only to dream, but also to plan a pilot project on low-carbon steel technology in Italy,” summarized the CEO.

“Metinvest consists of mining and metallurgical enterprises located in Ukraine, Europe and the United States. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), jointly managing it.

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