TAS Dniprovagonmash LLC (DVM, Kamianske, Dnipropetrovsk region), controlled by the TAS financial and industrial group of businessman Serhiy Tihipko, ended January-September 2025 with a loss of UAH 23.7 million, while for the same period in 2024, net profit amounted to UAH 53.9 million.
According to the company’s published interim financial statements, the company’s net income increased by 16.3% to UAH 1 billion 486.5 million.
The company reduced its gross profit by 32.6% to UAH 92.3 million, incurring a loss of UAH 13.7 million from operating activities, compared to a profit of UAH 67.6 million in January-September 2024.
As reported, in the first half of this year, the company incurred a loss of UAH 39.6 million (a year earlier, it had a net profit of UAH 18.8 million) due to a 29.5% decrease in revenue to UAH 561.2 million.
Thus, TAS Dniprovagonmash ended the third quarter of this year with a net profit of almost UAH 16 million, which is 54.4% less than in the same period last year, while net revenue increased by 92.2% to UAH 925.2 million.
The plant notes that in the third quarter, exports accounted for 38.4% of sales, with rolling stock supplied to Lithuania and Croatia.
According to the report, in the third quarter of this year, the plant produced 159 freight cars (compared to 139 in the same period of 2024), with an average selling price of UAH 2,530,900 (compared to UAH 2,782,800 in the second quarter).
The company does not provide the total number of cars produced in nine months, but based on quarterly data, 542 cars were produced, which is 19% more than in the same period last year (456 cars).
TAS Dniprovagonmash’s share in the total production of freight cars in Ukraine in July-September was 90% (in the first quarter – 25.8%, in the second – 46%), and its main competitors remain the Kryukiv Railway Car Building Works (which did not produce freight cars in the third quarter), the Karpaty Research and Mechanical Plant, and Ukrzaliznytsia enterprises.
The plant’s production capacity was utilized at 25% in the second quarter, and its equipment at 29%.
As of the beginning of October this year, the company employed 708 people.
As reported, TAS Dniprovagonmash, which has the capacity to produce 9,000 railcars per year, increased its sales of freight railcars by 63.7% in 2024 compared to 2023, to 606 units, and production by 59.2%, to 602 units.
Last year, the plant increased its net profit by 31.6% to UAH 62.3 million and its net income by 61.8% to UAH 1 billion 743.7 million.
The TAS Group is one of the largest financial and industrial groups in Ukraine, operating in the banking sector, insurance, railcar manufacturing, metallurgy, logistics, agriculture, food industry, packaging materials production, and real estate.
