PJSC “Electrometallurgical Plant ”Dniprospetsstal” (Zaporizhzhia) reported a net loss for 2025, as it did in 2024; the amount of the loss has not been disclosed.
According to the company’s announcement in the NSSMC’s information disclosure system regarding the remote general meeting of shareholders to be held on April 29, the agenda includes 11 items. In particular, the meeting is scheduled to review the reports of the company’s supervisory board and auditor for 2025, approve the results of financial and operational activities for the past year, and determine the procedure for covering losses.
In addition, the agenda includes reviewing the management board’s report on the consequences of the reduction in the company’s equity, reviewing and approving measures to be taken to improve the financial condition, and appointing an audit firm to conduct the mandatory audit of the financial statements. A decision is to be made on amending the company’s charter and approving agreements concluded by the company with Oschadbank JSC and OTP Bank JSC during 2025.
The draft resolutions, copies of which are available at the Interfax-Ukraine agency, propose to approve the results of the company’s financial and economic activities for 2025. Due to the absence of net profit, no dividends shall be declared and no contributions to the reserve fund shall be made. Losses shall be covered by profits from future periods.
In accordance with the recommendations of the company’s supervisory board audit committee, it is proposed to appoint Crow Erfolg Ukraine LLC as the audit firm to conduct the mandatory audit of the company’s financial statements for 2026.
As reported, Dniprospetsstal reduced its net loss by 25.3% in the first nine months of 2025 compared to the same period last year—to UAH 246.728 million; net revenue for this period increased by 0.8%—to UAH 4.245881 billion. Uncovered losses as of the end of September 2025 amounted to UAH 6.079011 billion. During the period, the plant reduced steel production by 40% compared to the same period last year—to 164,491 thousand tons from 272,622 thousand tons.
According to the annual report, based on the results of 2024, the plant reduced its net loss by 38.7% compared to 2023 — to UAH 582.427 million from UAH 950.510 million (the consolidated loss in 2024 amounted to UAH 588.606 million compared to UAH 950.664 million the previous year). At the same time, net revenue increased by 26.5%, to UAH 5.686039 billion from UAH 4.496158 billion. The accumulated loss as of the end of 2024 amounted to UAH 6.011880 billion.
In 2024, the plant produced 95,000 tons of steel (an increase of 20.8% compared to the previous year) and manufactured 71,400 tons of rolled steel (an increase of 30.8%).
The report noted that the majority of the group’s fixed assets (approximately 80%) are pledged as collateral. The group has a significant share of overdue loans and payments on accrued interest and is partially in breach of the financial covenants set forth in the loan agreements. As of the date of signing the report, the process of restructuring the loan agreements has not been completed. Some of the group’s real estate and land plots are also under seizure.
As of December 31, 2024, the Group’s net assets had a negative value of UAH 3,180,739 million (as of December 31, 2023, they amounted to UAH 2,537,876 million) and constitute less than 50% of the registered share capital. In addition, net assets in 2024 decreased by more than 25% compared to December 31, 2023.
These matters, events, or conditions, together with other matters, indicate that there is significant uncertainty that may cast significant doubt on the company’s ability to continue as a going concern, the report states.
The company temporarily suspended its own production from February to May 2022. At the end of May 2022, the company resumed production activities.
“Dniprospetsstal” is Ukraine’s sole producer of long products and forgings made from special steel grades: stainless, tool, high-speed, bearing, structural, as well as heat-resistant nickel-based alloys.
According to the National Securities and Stock Market Commission (NSSMC) data for the fourth quarter of 2025, its shares are held by Wenox Holdings Ltd. – 47.1128%, Boundryco Ltd. – 11.0131%, Gazaro Ltd. – 16.5197%, Crascoda Holdings – 6.6826%, and Middleprime Limited – 9.7901% (all based in Cyprus).
It was previously reported that in May 2008, the international investment and consulting group EastOne sold its approximately 30% stake in Dniprospetsstal, which had previously been held under the group’s mandate. Meanwhile, the plant’s new shareholders are linked to VS Energy International, whose beneficiaries include several Russian entrepreneurs.
The authorized capital of the private joint-stock company is UAH 49.720 million.
JSC “Ukrenergomashiny” (Kharkiv), more than 75.22% of which is owned by the state, plans to allocate nearly UAH 2.305 million, or 75% of its net profit, to dividend payments based on its 2025 performance, according to a draft resolution of the general meeting of shareholders.
According to a notice of the meeting posted on the National Securities and Stock Market Commission’s disclosure system on April 23 of this year, the remaining 25% of the profit is planned to be retained as undistributed.
“Ukrenergomashiny” does not specify the amount of net profit earned last year, but according to calculations, it exceeded 3 million UAH.
As reported, last year the company paid dividends to shareholders for 2024 totaling UAH 0.66 million (or, in accordance with the state dividend policy, 75% of the net profit earned in the amount of UAH 0.88 million) at a rate of UAH 0.00156 per share with a par value of UAH 0.25.
At the meeting, shareholders plan, in particular, to approve the company’s main areas of activity for the current year and to ratify agreements with TAScombank.
JSC “Ukrenergomashiny” (formerly JSC ‘Turboatom’ and “Elektrovazhmash”) is Ukraine’s sole manufacturer of turbine equipment for hydroelectric, thermal, and nuclear power plants. It also manufactures, among other things, electric motors for rail and urban transport (the “Elektrovazhmash” product line).
In addition to the state, the company’s shareholders (according to the NSSMC as of the fourth quarter of 2025) include the “Seventh” investment fund, managed by the asset management company “Svarog Asset Management” and associated with entrepreneur Kostyantyn Hryhoryshyn, holding 15.3416% of the shares, non-resident Valery Valandin – 5.598% of shares.
In 2025, PJSC “Ukrzernoimpex” increased its net profit by 9.2 times compared to 2024—to UAH 17.27 million, the company reported in the disclosure system of the National Securities and Stock Market Commission (NSSMC).
According to the draft resolution of the meeting scheduled for April 24, shareholders intend to allocate a portion of the net profit, amounting to UAH 2.33 million, for dividend payments. Each of the company’s two major shareholders—Anastasia and Oksana Podvalnikov—will receive UAH 1 million (after taxes). The remainder of the profit is planned to be retained by the company for production development.
Shareholders plan to approve the annual report and balance sheet for 2025 and determine the main areas of focus for 2026. They will also grant preliminary consent for the company to enter into significant transactions until April 24, 2027. Specifically, this involves the purchase of agricultural equipment and materials (pesticides, fertilizers, seeds) worth up to 25% of the company’s assets, as well as the sale of agricultural products worth up to 30% of the assets.
According to data from the Opendatabot service, the net profit of PJSC “Ukrzernoimpex” for 2025 increased 9.2-fold compared to 2024—to UAH 17.27 million. The company’s revenue for the reporting period increased by 25.8%—to UAH 111.28 million, while assets amounted to UAH 97.97 million. The company’s liabilities as of the end of 2025 totaled UAH 21.85 million. The company’s authorized capital is UAH 191,630.
PJSC “Ukrzernoimpex” (Kyiv) was founded in October 1994. The company’s primary business activity is the cultivation of grains, legumes, and oilseed crops. The company also specializes in pig breeding and providing truck transportation services. The company’s beneficial owners are Oksana and Anastasia Podvalnikova, each of whom owns 50% of the shares.
PJSC “Oberig” will hold its annual general meeting of shareholders on April 10, 2026. According to the published notice, shareholders are being asked to approve the 2025 results, distribute profits in the amount of UAH 20.224 million (allocating UAH 4 million to dividends), and approve a number of significant transactions, including those with a maximum value of up to UAH 50 million.
Oberig PJSC was registered in the Mykolaiv region in 2005 and is engaged in the cultivation of grain and oilseed crops.
According to Opendatabot, the company’s revenue in 2025 amounted to 127.64 million UAH, net profit to 20.224 million UAH, and assets to 232.6 million UAH.
PJSC “Vyshnevsky Foundry and Forging Plant” (VLKP, Kyiv region) reported a 3.2% decrease in net profit for 2025 compared to 2024—down to UAH 2.892 million from UAH 2.987 million.
According to VLKS’s announcement in the National Securities and Stock Market Commission (NSSMC) disclosure system regarding the remote general meeting of shareholders to be held on April 27, eight items are on the agenda. In particular, the meeting plans to review the company’s supervisory board’s report on its work in 2025, approve the results of financial and operational activities for the past year, and distribute profits.
Additionally, the meeting will decide on the payment of annual dividends, approve their amount and method of payment, approve significant transactions, terminate the powers of Supervisory Board members, and elect new ones.
Draft resolutions, copies of which are available to the Interfax-Ukraine agency, propose approving the Supervisory Board’s report and the company’s financial and operational results for 2025. Net profit in the amount of UAH 2,891,991 thousand is to be distributed as follows: 75%, amounting to UAH 2,169,049 thousand, is to be allocated for the payment of dividends; 25%, or UAH 722,942 thousand, is to be retained as undistributed profit.
It is proposed to pay dividends based on the results of 2025 and to approve a dividend amount of 1.5133 UAH per share. The method of dividend payment shall be directly to shareholders.
As reported, based on its 2024 results, VLKZ saw its net profit decrease by 35.9% compared to 2023—from UAH 4.663 million to UAH 2.987 million—while the company’s net revenue fell by 25.7% to UAH 68.327 million. Retained earnings as of the end of 2024 amounted to UAH 12.594 million.
PJSC “VLKZ” was founded in 1990 on the basis of the foundry and forging shops of the Artem Kyiv Production Association. It specializes in the production of forged and cast products.
According to the State Registration Service data for the fourth quarter of 2025, resident individual Viktoria Gryshchenko owns 18.5947% of the company’s shares, resident individual Valentina Baeva owns 10.5216%, and JSC “Aviation and Rocket-Technical Engineering Company” holds 51.0001%.
Authorized capital: 358,000 UAH; par value: 0.25 UAH.
Vodafone Ukraine (VFU), Ukraine’s second-largest mobile operator, which has repurchased approximately $22 million worth of its own Eurobonds since late May following several offers related to dividend payments, has announced another similar tender at 98% of par value for a total of $1.18 million.
As noted in a statement on the Irish Stock Exchange, prior to this, on March 2, the company made another monthly dividend payment of UAH 50.866 million, which is equivalent to the monthly cap of EUR 1 million set by the National Bank for such payments.
Applications to participate in the tender are being accepted through March 26, and settlements are scheduled for April 3.
Bonds maturing in February 2027 with a coupon rate of 9.625% per annum were issued for $300 million. Their redemption is related to the fact that on April 24, 2025, VFU announced the accrual of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. In accordance with National Bank restrictions, these dividends will be paid in separate monthly installments. It is expected that each such monthly dividend will amount to a sum in hryvnia equivalent to EUR1 million. The company emphasized that, under the terms of the bond issue, it must in such a case offer all bondholders the opportunity to submit an application to sell their bonds for an amount equal to the dividends paid outside Ukraine.
In the first two tenders, mobile operator “Vodafone Ukraine” repurchased bonds in an amount equivalent to EUR1 million. The initial repurchase was announced at 99% of par value, the second at 90% of par value. The company did not announce the results of the second buyback on the exchange, while the bid-to-cover ratio for the first buyback was 0.0040355668.
According to the results of the third tender, where the buyback price was reduced to 85% of par value and the offer was capped at $4.67 million, “Vodafone Ukraine” received bids totaling $53.395 million and accepted them for $5.208 million. The scale factor was 0.1315451889487317.
The fourth tender was announced on August 13 but was subsequently extended seven times. As a result, the redemption price was increased from 85% to 98%, and the redemption amount to $10.84 million. The company received bids totaling $127.14 million for this amount. Some of the bonds were returned to their holders due to the inability to split the face value, while the remainder were accepted with a scaling factor of 0.1150681.
In the fifth, sixth, and seventh bond buyback tenders in December, January, and February, the price was again 98%: in the fifth tender, with bids totaling $1.165 million, the scaling factor was set at 0.01901; in the sixth, with bids totaling $1.475 million, it was 0.04234; and in the seventh, with bids totaling $1.185 million, it was 0.3246.
Overall, based on the results of the seven tenders, the total nominal value of bonds remaining in circulation is $277.98 million.
As reported, mobile operator VFU increased its net profit by 10.7% to UAH 3.4468 billion and revenue by 13.3% to UAH 19.03 billion in the first nine months of 2025.
The report noted that in 2025, the company received loans from related parties to service and redeem Eurobonds. In February, the parent company Telco Investments B.V. provided $49.59 million for the partial repayment of Eurobond debt. In June, an agreement was signed with Telco Investments for a dollar-denominated credit line in an amount equivalent to 660 million UAH, at 10% per annum, maturing in 2028.
Finally, in July 2025, a loan agreement was signed with the Dutch company Cemin B.V. for $10 million at 10% per annum, with a repayment term no later than the end of 2027, but not before the maturity of the Eurobonds. The funds are credited in tranches to the company’s bank account at a foreign bank and are intended to be used to redeem the bonds that Vodafone Ukraine is issuing in connection with the resumption of dividend payments this year.
