Business news from Ukraine

Business news from Ukraine

“Mlybor” plans to offset its 2025 losses using retained earnings

PJSC “Mlybor” (Chernihiv), a subsidiary of the IMC agricultural holding, plans to offset its 2025 losses using retained earnings and not to pay dividends, the company reported in the disclosure system of the National Securities and Stock Market Commission (NSSMC).

According to the draft decision of the annual general meeting scheduled for April 3, 2026, shareholders will also consider the issue of preliminary approval of significant transactions in the amount of up to $100 million for a period of one year.

As stated in the meeting agenda, this involves obtaining loans and banking products from Raiffeisen Bank JSC with a limit of up to UAH 500 million and extending the existing collateral to cover the updated financing terms, valid until September 2029. At the same time, the total limit under the general agreement is set at the equivalent of $11.5 million.

The company plans to extend the existing mortgage and pledge on the obligations of Chernihiv Industrial Dairy Company LLC and Agroprogress Private Enterprise to Raiffeisen Bank.

In addition, the meeting intends to approve the reports of the supervisory board and the executive body for 2025, as well as the external audit findings and the company’s annual report. Shareholders will consider the approval of related-party transactions that may be conducted during the year in an amount exceeding 1% of the value of assets, and will approve transactions conducted between April 2025 and April 2026.

Shareholders are also being asked to terminate the powers of the current members of the supervisory board effective April 15, 2026, and to elect new members through cumulative voting. No remuneration will be paid to board members, and the terms of their contracts will be approved at the meeting.

According to data from the Opendatabot service, Mlybor PJSC’s revenue in 2025 increased by 39.3%—to UAH 85.54 million compared to UAH 61.41 million in 2024. The company’s net loss amounted to UAH 44.00 million, compared to a loss of UAH 33.99 million a year earlier. As of the end of the reporting period, the company’s assets were valued at 331.85 million UAH, and total liabilities at 155.16 million UAH. The profitability ratio stood at “minus” 51.44%.

Mlybor PJSC is one of the key elevators of the IMC group, located in Chernihiv. It has the capacity to simultaneously store 102,000 tons of grain (wheat, corn, sunflower) and two grain dryers with a capacity of 3,500 tons/day. The beneficiary of the company is Oleksandr Petrov.

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Shareholders of Novomoskovsk Mineral Water Plant to consider losses for 2025

According to Fixygen, shareholders of Novomoskovsk Mineral Water Plant (Znamivka village, Dnipropetrovsk region) will consider the transition to a single-tier management structure at the annual general meeting on April 20, 2026, the company reported in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).

According to the draft agenda, shareholders are proposed to adopt a decision on the termination of the supervisory board as a collegial body and the termination of the powers of its members Oksana Kolyada, Svitlana Kochergina, and Oleksiy Laikov. If the changes are approved, the company will be managed by the general meeting and the CEO.

In addition, shareholders plan to approve the 2025 financial statements, the procedure for covering last year’s losses, and determine the main areas of activity for 2026.

The shareholders also plan to consider amendments to the company’s charter, approve the new version of the internal regulations, and give preliminary consent for the CEO to perform significant transactions during the year.

PJSC Novomoskovsk Mineral Water Plant (Znamennivka village, Dnipropetrovsk region) was founded in 1996. The company specializes in the production of soft drinks, mineral and other waters. In addition, it bottles water in polycarbonate cylinders. The plant has six Italian bottling lines. The company manufactures products under the trademarks Novotroitskaya, Dniprovskaya, Hit Parade, Shustrik, Aquileya, and Novotroitsky kvass.

According to Opendatabot, in 2024, the company increased its net loss by 5.9 times compared to 2023, to UAH 23.443 million. Meanwhile, its revenue decreased by 19.2% to UAH 157.85 million, while assets and liabilities increased 1.6 times to UAH 325.61 million and UAH 382.38 million, respectively. The number of employees increased 2.2 times over the year, to 459. The authorized capital of the private joint-stock company is UAH 1 million 15.76 thousand.

The beneficiaries of the company are Oksana Kolyada and Alina Vovk. The major shareholders remain Dilsontra Trading LTD (24.61%), Integrale Investments LTD (23.84%), Oksana Kolyada (31.5%), and Valery Kolyada (8.86%).

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Telecommunications industry has suffered $2.5 bln in losses due to war

The cost of restoring and rebuilding Ukraine’s telecommunications, digital, and media sectors is estimated at $7.1 billion between 2026 and 2035, while the total damage is estimated at $2.5 billion, according to the Rapid Damage and Needs Assessment (RDNA5) report on the damage and needs caused by the large-scale Russian invasion.

It is noted that among the priorities for recovery are the repair of partially damaged telecommunications and postal infrastructure and the expansion of backup systems, such as backup power and satellite connections.

According to the document, the needs for restoration of the telecommunications sector are concentrated in frontline and densely populated areas, in particular in the Donetsk, Zaporizhzhia, Kyiv, and Kharkiv regions, which together account for more than 65%. In terms of damage, the Donetsk, Zaporizhzhia, Kherson, and Kharkiv regions account for 55% of the total damage.

“The damage reflects lost revenue for private operators and postal service providers, increased operating costs due to repairs, and additional costs for backup power generators,” the report says.

“Together, the damage and losses have disrupted access to information, education, and government services,” the document states.

The RDNA5 report was prepared jointly with the World Bank, the European Commission, and the UN. It covers the period from February 24, 2022, to December 31, 2025. According to the report, the total cost of recovery in Ukraine will be $588 billion over the next decade, which is almost three times Ukraine’s projected nominal GDP for 2025. A year earlier, the estimate was $524 billion, a year before that – $486 billion, and a year before that – $411 billion.

The RDNA5 assessment estimates the direct damage to Ukraine at $195 billion, compared to $176 billion in the RDNA4 assessment and $152 billion in the RDNA3 assessment.

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Losses to education and science in Ukraine reached $13.9 bln, with $33.5 bln needed for recovery

The updated Rapid Damage and Needs Assessment (RDNA5) showed $13.9 billion in losses and $33.5 billion needed to restore education and science in Ukraine, according to the Ministry of Education and Science.

“The education and science sectors have also suffered significant losses. Total losses are estimated at $13.9 billion and cover the infrastructure and assets of all subsectors, from preschool education to scientific institutions,” the ministry said in a statement.

It is noted that the most damage was recorded in scientific infrastructure, higher education institutions, and schools, particularly in the Kharkiv, Zaporizhzhia, Dnipropetrovsk, Mykolaiv, Kherson, Sumy, Chernihiv, Kyiv, Luhansk, and Donetsk regions, as well as in the city of Kyiv.

“For the complete restoration and reconstruction of the education and science sector for 2026-2035, the total need is estimated at $33.5 billion,” the ministry added.

The priority areas for support are: reconstruction of educational institutions; restoration of face-to-face learning through the construction and modernization of shelters and the introduction of temporary solutions to ensure access to face-to-face learning; comprehensive overcoming of learning losses (improved teaching practices, flexible catch-up programs, and psychosocial support are needed to compensate for lost learning time and overcome psychological trauma).

“When we talk about the damage caused by Russia to the Ukrainian education and science system, we are not just talking about destroyed buildings. It is limited access to education, lost opportunities, and educational gaps that affect children’s future earnings and the country’s economic potential — and these consequences are exacerbated as long as the war continues,” the press service quotes Minister of Education and Science Oksen Lisovyi as saying.

The RDNA5 report was prepared jointly with the World Bank, the European Commission, and the UN. It covers the period from February 24, 2022, to December 31, 2025. The total cost of recovery in Ukraine as of December 31, 2025, is $588 billion (over EUR500 billion) over the next decade, which is almost three times Ukraine’s projected nominal GDP for 2025.

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Due to electricity shortages and CBAM, AMKR is operating at 50% capacity and incurring losses

In 2025, the Kryvyi Rih Iron and Steel Works PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) was quite successful in selling metal products on the EU market, but now, due to CBAM and electricity shortages, it is reducing production and operating at a loss.

As AMKR Director of Government Relations Oleg Krykavsky noted during the event “How does the shelling of the power grid affect business operations?” organized by the Center for Economic Strategy (CES), the fact that the company is part of a large multinational corporation helps it to operate and stay afloat.

“We were helped by the fact that we received more than $1 billion in aid from a multinational corporation, which was used to keep the company running. Currently, the company is operating at an average of 50% of its capacity. We were quite successful in the EU market last year, partly thanks to the government’s actions, as a good agreement was reached with the European Union to extend duty-free trade for another three years. In 2025, we exported 1.2 million tons of metal products to the European market, down from 3 million tons. But because of the CETA, our costs are rising, which means we will have to close one workshop – the blooming shop,” said the top manager.

He added that AMKR is at a disadvantage compared to European producers under CETA, as it will have to pay $63-90/ton, depending on the type of product. Also, electricity tariffs are high, and electricity import contracts are very short.

“We had several cases where we did not meet the electricity consumption volumes, and our trader sold it on the market for UAH 0. Not only did we not receive what we bought, but we were also forced to reduce production, which resulted in direct losses. And, of course, we are in dialogue with the government on this issue,” the company explained.

Responding to a question about equipment arrivals, Krykavsky noted that the equipment works during alarms. But there are losses due to emergency situations, and they are painful. Under normal conditions, the enterprise consumes 400 MW*h, but due to restrictions, we now consume 230-250 MW*h, and there are limits of 70 MW*h.

“That is, the rest is peak hours, and you have to think about what to do with that. Usually, you think about importing, because you have to work somehow. Plus, you can’t fire people for five to seven hours without paying them. People get paid at work, so you have to work,” said the AMKR representative.

He added that there was a case at the enterprise when a coke battery was damaged due to a power outage caused by a network failure.

“We are investigating who is to blame for this. But one coke battery burned down. A coke battery is, in essence, a chemical process, which means it cannot be stopped. We have installed industrial generators for such cases, but even they need 16 hours or more to start up,” the manager explained.

With half of its capacity in operation, the company is trying to cover some capacities with others, while repairing something that is idle so that it can be started up at some point.

“We are thinking about our own generation, about cogeneration. There are limited resources and limited potential. It is very expensive. But we are working on it in parallel; we have our own CHP plants and technologies today that allow us to do this. But we are a large enterprise and require large capacities,” summarized the AMKR director for relations with state authorities.

ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tons of steel, more than 5 million tons of rolled products, and over 5.5 million tons of pig iron.

ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.

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Ukrrichflot incurred losses of nearly UAH 200 mln in first nine months of 2025

In January-September of this year, PJSC Shipping Company Ukrrichflot incurred a net loss of UAH 196.007 million, compared to a net profit of UAH 23.731 million in the same period last year.

According to the company’s interim report, which is available to the Interfax-Ukraine agency, the loss in the third quarter of 2025 amounted to UAH 61.264 million.

Revenue for this period decreased 7.7 times, from UAH 176.283 million to UAH 22.781 million.

Retained earnings at the end of September amounted to UAH 316.777 million.

The company ended 2024 with a net loss of UAH 29.983 million, compared to UAH 22.251 million in 2023.

PJSC “Shipping Company ”Ukrrichflot” is a private logistics operator engaged in river and sea cargo transportation.

According to the NDU, as of the third quarter of 2025, Oltinoro Investments Limited owns 5.5% of the shares, and Culata Limited (both based in Cyprus) owns 9.7758%. The closed-end non-diversified venture investment fund “P’yatyy,” on behalf of and at the expense of which LLC “AMC ”Svarog Asset Management“ operates, owns 66.1032%; LLC ”Promexpertinvest” owns 9.1666%.

The authorized capital of PJSC Ukrrichflot is UAH 51 million 428.586 thousand, the nominal value of a share is UAH 0.30.

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