Business news from Ukraine

Business news from Ukraine

“Ukragroleasing” will allocate 75% of its 2025 net profit to dividends for state

The state-owned public joint-stock company “National Joint-Stock Company ”Ukragroleasing” will allocate 75% of its net profit for 2025 to dividend payments, the issuer reported in the NSSMC’s disclosure system, citing Order No. 811 of the State Property Fund of Ukraine (SPFU) No. 811 dated April 29, 2026.

According to the document, the total amount of annual dividends has been approved at UAH 1.58 million, which amounts to UAH 0.14 per share. The payment will be made directly to the shareholder (the state, represented by the SPFU) between April 30 and June 30, 2026. In accordance with the law, the company must transfer the funds to the budget no later than July 1.

At the same time, another provision of this order approved the reports on the remuneration of the company’s management and supervisory board for 2025.

Acting CEO Vitalii Ravliuk was awarded 1.12 million UAH in fixed compensation for the past year. His average monthly income was 93,320 UAH, which is 3.2 times higher than the company’s average salary (29,150 UAH). Deputy heads Roman Dzyuba and Ruslan Romanenko received 0.83 million UAH and 0.62 million UAH, respectively, which is 2.4 and 1.8 times higher than the average salary of regular employees.

The compensation for the four independent members of the supervisory board (Dmytro Oliinyk, Mykola Baranov, Serhiy Kabanets, Volodymyr Polishchuk) for the past year amounted to 0.88 million UAH—0.22 million UAH each. Shareholder representatives on the board did not receive any payments. During the year, there was a rotation within the board: the terms of Svitlana Pasichna and Viktoria Kozyreva were terminated, and Tetiana Mashchenko joined the board.

Management compensation was provided exclusively through base salaries, as bonuses and incentives were not awarded due to the absence of approved performance criteria (KPIs).

An analysis of the financial statements shows that total expenses for management and supervisory board compensation in 2025 amounted to 3.45 million UAH, which is 2.2 times the amount of dividends paid to the state. At the same time, the total payment to just three members of the management board (2.57 million UAH) was 1.6 times greater than the annual amount of dividends paid to the budget.

As reported, Ukragroleasing posted a net profit of UAH 2.11 million for 2025, which is 6% higher than the 2024 figure (UAH 1.99 million). Net sales revenue for the reporting period decreased by 12.9% to UAH 185.61 million. The company’s total assets at year-end increased by 3.1% to UAH 444.26 million; equity stood at UAH 409.52 million, with registered capital of UAH 1.17 billion.

UkrAgroLeasing was established in 1999; the company provides agricultural machinery and equipment under financial lease agreements. Since June 2018, 100% of the company’s shares have been in the process of privatization. According to YouControl, the holding company comprises 25 separate branches.

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“Carlsberg Ukraine” has announced dividends for 2025 totaling 50.2 mln UAH

The private joint-stock company “Carlsberg Ukraine” will pay dividends totaling 50.20 million UAH, the company reported via the National Securities and Stock Market Commission’s disclosure system.

According to the report, the decision to allocate a portion of the net profit from 2025 operations to dividend payments was made by the company’s sole shareholder on May 4, 2026. The dividend per share is UAH 0.0491. The payment will be made in euros in a single installment between May 19 and November 4, 2026. The list of persons entitled to receive the funds will be compiled as of May 15, 2026.

In its 2025 management report, the company reported that it paid over UAH 3.20 billion in taxes and fees to budgets at all levels. Total investments in production, innovation, and safety since the start of the full-scale invasion exceeded UAH 2.70 billion.

Based on the results of the reporting year, Carlsberg Ukraine holds significant market shares in key segments: cider – 54.94%, non-alcoholic beer – 41.64%, kvass – 36.05%, and alcoholic beer – 30.05%. In the energy drink market, the company’s share was 5.62%. Export destinations included 25 countries worldwide, notably Moldova, Germany, the Czech Republic, Poland, and China.

Adapting the product range to new consumer trends was accompanied by the development of an agricultural project to research a new barley variety, Null-LOX4G, in collaboration with the National University of Life and Environmental Sciences of Ukraine (NULES), aimed at improving product quality while simultaneously reducing energy consumption and CO2 emissions. In addition, in 2025, the manufacturer launched a range of innovative products, including Battery energy drinks with peach lemonade flavor and the non-alcoholic “Kvas Taras Pryany.”

Meanwhile, on April 28, 2026 (Resolution No. 3/2026), the company’s sole shareholder granted preliminary consent to enter into significant transactions over the course of one year with a total aggregate value of up to UAH 79.60 billion. These funds will be allocated to support the company’s operational activities. The largest share, up to UAH 40.0 billion (264.64% of assets), is earmarked for contracts with retail chains and distributors for the sale and promotion of products. The shareholder has approved a significant amount of funds for the purchase of packaging materials: up to UAH 8.50 billion for aluminum cans and lids, up to UAH 3.60 billion for glass bottles, and up to UAH 3.0 billion for PET preforms. Up to UAH 4.0 billion is allocated for the purchase of raw materials and other containers.

The limits also include the option to place available funds in deposits in an amount of up to UAH 8.0 billion or the equivalent in foreign currency. UAH 3.0 billion has been allocated for each of the following categories: energy costs (gas, electricity), advertising activities, and license fees. Funding for the purchase of equipment, spare parts, and repair work has been approved in the amount of up to UAH 2.0 billion, while up to UAH 1.50 billion will be allocated for transportation and freight forwarding services.

According to data from Opendatabot, by the end of 2025, the company’s revenue decreased by 2.6% compared to 2024—to 12.167 billion UAH—while net profit fell by 17.1%—to 1.807 billion UAH. At the same time, the manufacturer’s assets grew by 9.2% to UAH 15.114 billion, while debt obligations decreased by 5.7% to UAH 4.82 billion.

As reported, in April 2026, Swedish company Carlsberg Sverige AB became the new owner of 100% of the voting shares of PJSC “Carlsberg Ukraine,” having acquired the stake previously held by Baltic Beverages Invest Aktiebolag as a result of a merger.

PrJSC “Carlsberg Ukraine” is part of the Carlsberg Group and owns three breweries in Zaporizhzhia, Kyiv, and Lviv. Its brand portfolio includes “Lvivske,” Carlsberg, Kronenbourg 1664, “Kvas Taras,” Somersby, Battery, and others.

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“Alumash” May Allocate Over 72% of Its Annual Profit to Dividends

PJSC “Dniprovsky Plant ”Alumash,” a manufacturer of aluminum profiles, intends to allocate UAH 10 million of its net profit for 2025 to dividends.

According to information submitted by the company to the NSSMC’s disclosure system, this matter has been added to the agenda of the annual general meeting of shareholders scheduled for June 9 of this year.

It is proposed to distribute the profit earned from the company’s financial and operational activities in 2025, amounting to UAH 13,730,408, as follows: dividend fund – UAH 10,132,000, which constitutes 72.84% of the company’s profit earned in 2025. To retain UAH 3,729,088 in profit (27.16% of the profit earned).

It is also proposed to approve the conclusions of the audit report by the audit firm Garant-Audit LLC, draw conclusions, and approve measures based on the results of the review of the audit report.

The draft resolutions, copies of which are available at the Interfax-Ukraine agency, propose paying dividends to the company’s shareholders at a rate of UAH 6,440 per ordinary registered share of the private joint-stock company. Approve the resolution on the payment of dividends for 2025 in the total amount of UAH 10 million. The dividend payment period begins on July 1 and ends on December 8, 2026, inclusive. Dividends will be paid directly to shareholders.

PJSC “Dniprovsky Plant ”Alumash” was registered in July 1997. It manufactures aluminum profiles using Italian equipment, including general-purpose profiles and TECNO building profile systems under license from the Italian company S.L.L. SPA.

According to data from the National Securities and Stock Market Commission (NSSMC) for the fourth quarter of 2024, the company’s CEO, Oleksandr Danchenko, owns 6.5035% of the company’s shares; his father, Oleg Danchenko, owns 28.3323%; Mykhailo Senektutov holds 19.253%, Ivan Sosnovsky holds 14.295%, and Igor Levin holds 14.231%.

At the same time, the company’s 2024 report lists four individuals (without disclosing their full names) as major shareholders, holding stakes of 34.836%, 19.253%, 14.295%, and 14.231%, respectively.

The authorized capital of the private joint-stock company is UAH 19.95 million.

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“Forests of Ukraine” ranked among top three largest contributors of dividends to state budget

According to the results of 2025, the state-owned enterprise “Forests of Ukraine” ranked among the top three contributors to the state budget with UAH 5.9 billion in accrued dividends, more than four times the level of 2024 (UAH 1.3 billion), the state-owned enterprise’s press service reported on Facebook.

According to the report, the leaders in terms of accrued dividends were also JSC “NAEK ‘Energoatom’ (UAH 9.3 billion) and PJSC ”Ukrhydroenergo” (UAH 6.3 billion).

As noted with reference to the Ministry of Economy, Environment, and Agriculture of Ukraine, the growth in these figures was driven by systemic changes: the open sale of forest products, the transition to procurement through Prozorro, the divestment of non-core business areas, and cost optimization.

According to the company, in January–March 2026, the volume of timber harvesting increased to nearly 3 million cubic meters, which is 50% more compared to the same period in 2023. Net revenue for the reporting period rose by 87% to UAH 8.6 billion, while pre-tax profit increased by 273% to UAH 3 billion. The return on operations for the quarter reached 34.9%.

Tax payments by the state-owned enterprise “Forests of Ukraine” in the first quarter of 2026 increased by 166% compared to the first quarter of 2023, reaching UAH 4 billion.

As of early May 2026, the enterprise had increased timber harvesting by 560,000 cubic meters compared to last year’s figures. The state-owned enterprise’s share of the country’s total timber harvest rose from 83% to 88%.

State Enterprise “Forests of Ukraine” has now launched a modernization program to transition to mechanized timber harvesting. Last week, the first contract for the supply of harvesters from Sweden was signed. The program also includes the renewal of the firefighting equipment fleet and the operation of a modern seed center.

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“Land Bank” Transferred UAH 369 Mln in Dividends to State Budget

State-owned LLC “Land Bank” transferred UAH 369 million in dividends to the state budget based on its 2025 performance, representing 95% of the company’s net profit, the operator’s press service reported on its Telegram channel.

According to the report, this figure is one of the highest in terms of profit return to the state among enterprises under the management of the State Property Fund of Ukraine (SPFU).

“This is an example of how state assets can function as a fully-fledged economic instrument. The Land Bank proves that instead of passive holding, the state can achieve tangible financial results,” emphasized SPFU Chairman Dmytro Natalukha.

According to the CEO of State Land Bank LLC Yaroslav Yaroslavsky, based on last year’s results, the company made it onto the list of major taxpayers, ranking 12th among state-owned enterprises by revenue alongside giants such as “Naftogaz,” “Ukrenergo,” and “Ukrzaliznytsia.”

The “Land Bank” is a state-owned operator established to manage agricultural land through a long-term lease mechanism. 100% of the company’s shares are owned by the state, represented by the State Property Fund of Ukraine.

The project was officially launched in 2024 to consolidate state-owned land and sell it through online auctions on the “Prozorro.Sales” platform. The first auctions for land leases began in the fall of 2024, allowing the operator to achieve significant financial results in its very first full year of operation. According to the State Property Fund of Ukraine, the company currently manages over 100,000 hectares of land.

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“Intercondicioner” to Pay Shareholders 1 Mln UAH in Dividends

JSC “Intercondicioner” (Kharkiv) will pay shareholders UAH 1 million in dividends for 2025 between May 7 and October 20, 2026, at a rate of UAH 625 per share (with a par value of UAH 1,000).

According to the company’s filing with the National Securities and Stock Market Commission (NSSMC), the decision was approved at the general meeting of shareholders on April 15.

As reported, Interconditioner ended 2025 with a net profit of UAH 2.38 million, slightly exceeding the 2024 figure.

Shareholders planned to allocate UAH 1 million to dividends and leave the remaining profit undistributed.

Based on the company’s 2024 results, it allocated UAH 0.8 million to dividends from its net profit of UAH 2.31 million, at a rate of UAH 500 per share.

According to the company’s report, shareholders at the meeting also changed the composition of the supervisory board (SB), specifically, they relieved SB Chairman Serhiy Boiko of his duties (as of early 2026, he held 37.75% of the company’s shares), and elected his representative, Viktor Belov, as chairman; Belov has served as head of the labor and payroll department and acting head of the internal audit service over the past five years.

Viktor Doroshin (who does not hold any shares) was removed from the SB, and Dmitry Ostapenko, who owns 40.688% of the company’s shares, was elected to the new SB. At the same time, Anastasia Prokhorova was re-elected for a new three-year term.

As of the fourth quarter of 2025, according to the NSSMC, Serhiy Boiko owned 37.75% of the company’s shares, Dmytro Ostapenko – 40.688%, and Nadiya Ostapenko – 17.44%.

Founded in 1996, Interconditioner, according to the company, is Ukraine’s largest manufacturer of a wide range of equipment for air conditioning, industrial and general ventilation, emergency smoke extraction and air heating systems, and provides installation and maintenance services.

The company’s equipment is used in large enterprises, retail and office centers, hotels, supermarkets, and healthcare facilities.

According to opendatabot, in 2025 the company increased its net sales revenue by 22.4% compared to 2024—to 99.3 million UAH.

The authorized capital of JSC “Intercondicioner” is 1.6 million UAH.

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