PJSC Centravіs Production Ukraine (Nikopol, Dnipropetrovsk region), part of the Centravіs Ltd. holding, reduced its net profit by 2.5 times compared to the same period last year, to UAH 158.111 million from UAH 398.888 million, based on the results of its operations in January-September of this year.
According to the company’s interim report, which is available to Interfax-Ukraine, the company increased its net income by 1.4% to UAH 3 billion 961.714 million in the first nine months of this year.
The uncovered loss at the end of September 2025 amounted to UAH 888.623 million.
In order to ensure the necessary volume of pipe billets, the company diversifies its purchases by purchasing pipe billets from foreign manufacturers. About 70% of pipe billets are purchased abroad. The company continues to cooperate with Ukrainian pipe billet manufacturers, whose production facilities are located in the Dnipropetrovsk and Zaporizhzhia regions.
In the first nine months of 2025, the company produced 9,974 thousand tons of pipes.
The company is export-oriented, with exports accounting for 96% of sales in the first nine months of 2025. The largest markets for its products are Germany, Italy, and the United States. In addition, pipe products are also sold in the Middle East, Asia, and Australia. In the first nine months of 2025, 9,919 thousand tons of pipes were sold, of which 9.9 thousand tons were exported.
An additional incentive for the company’s pipe exports is the temporary measures to liberalize trade and abolish customs tariffs and quotas by European countries and the US. In particular, in 2023, the EU and the US extended the suspension of customs tariffs and quotas on Ukrainian goods exported to European and American markets until June 1, 2024. In May 2024, this suspension was extended until June 5, 2025.
The company constantly monitors liquidity and credit portfolio management. The company pays all current loan payments in accordance with the repayment terms specified in the current agreements. On April 15, 2025, the company signed an agreement with its main creditor, Ukreximbank, on the long-term restructuring of its loan portfolio, namely the extension of long-term lines of €19,369,180 and $3,740,450 until February 22, 2031 (before the signing, the term was until February 22, 2026), and a short-term line of EUR 9 million was extended until March 3, 2028 (before the signing, only short-term extensions were carried out). This event has a significant positive impact on the company’s liquidity and solvency, allowing it to reduce its current debt burden and ensure stable cash flows.
In addition, to meet the company’s operational needs, on May 5, 2025, a general credit agreement was signed with the commercial bank Pivdenny for a total amount of short-term lending of UAH 50 million secured by a VAT declaration, which allowed the company to optimize cash flows and improve working capital. In July 2025, the company entered into an additional agreement with the bank to reduce the interest rate on short-term loans in national currency from 19% to 18% per annum, which has a positive impact on liquidity indicators.
As of September 30, 2025, the company applied for a VAT refund in the amount of UAH 57.834 million (as of December 31, 2024 – UAH 83.925 million), which was received from the state budget after the reporting date. Based on the results of the audits, the tax authorities did not confirm the VAT refund in the total amount of UAH 23.806 million. The company is challenging the results of the VAT audit in court.
In 2024, the company received a net profit of UAH 310.045 million, while it ended 2023 with a loss of UAH 384.664 million. At the same time, it increased its net income by 3.7% to UAH 5 billion 226.606 million. The company produced 14,017 thousand tons of pipes (in 2023 – 12,412 thousand tons), with exports accounting for 90.1% in 2024.
With regard to environmental protection, the board of directors considered issues related to reducing the harmfulness of production by improving production technologies, in particular, the transition to azote-free pipe pickling. In accordance with the requirements of Directive 2003/87/EC, a decision was made to implement a system for monitoring, reporting, and verifying greenhouse gas emissions and quarterly CBAM reporting.
According to the report, the profit in the current and previous reporting periods was mainly due to the forgiveness of debt on accrued interest under a loan agreement with a related non-resident entity, Centravis Finance Ltd.
On September 24, 2025, the sole shareholder of the company, Centravis SA (Switzerland), decided to increase the authorized capital by issuing additional shares worth UAH 4,335,171 thousand without a public offering.
The shares were valued by Uvecon Consulting Company LLC. Participants in the share placement must submit an application for the purchase of shares to the authorized person between February 28 and April 28, 2026.
Sentravis was founded in 2000 and is one of the ten largest manufacturers of seamless stainless steel pipes in the world. Its main production facilities are located in Nikopol (Dnipropetrovsk region). In 2023, a branch of the company was opened in Uzhhorod.
The company’s main activity is the production and sale of seamless stainless steel pipes. As of September 30, 2025, the company employed 1,428 people (as of September 30, 2024, 1,541 people).
Centravіs Ltd. was established on the basis of Nikopol Stainless Steel Pipe Plant CJSC and the service and trading companies of YUVIS Production and Commercial Enterprise LLC. Its shareholders are members of the Atanasov family. Centravis Ltd. owns 100% of the shares of PJSC “Centravis Production Ukraine.”
According to the NDU for the third quarter of 2025, Centravis SA (Centravis AG) (Centravis Ltd) (Switzerland) owns 100% of the shares of PJSC “Centravis Production Ukraine”.
According to the company’s information, as of September 30, 2025, the ultimate beneficial owners of the company are Yuriy Atanasov, who owns 66.7% of the shares, Konstantin Atanasov with 16.65%, and Kateryna Atanasova-Milovanova with 16.65%. The 6,668 shares in the authorized capital of UVIS Group Limited, which belonged to Vasyl Atanasov, who died on September 18, 2023, were inherited by Yuriy Atanasov.
The authorized capital currently amounts to UAH 202.560 million, with a nominal value of UAH 1 per share.
According to the results of its operations in January-September of this year, PJSC “Production Association ”Stalkanat” (Odessa) increased its net profit by 4.5 times compared to the same period last year – to UAH 504.626 million from UAH 113.016 million.
According to the company’s interim report, which is available to Interfax-Ukraine, profit in the third quarter amounted to UAH 201.052 million.
Over the nine months of this year, the company increased its net income by 26.5% to UAH 4 billion 33.007 million.
Undistributed profit at the end of September 2025 amounted to UAH 791.920 million.
As reported, in 2024, the company reduced its net profit by 34% compared to the previous year, from UAH 280.060 million to UAH 184.808 million. At the same time, it increased its net income by 33.3% to UAH 4 billion 436.786 million. Last year, the plant shipped 90,089 thousand tons of metal products. The share of exports was 48% in physical terms. Capital investments last year amounted to UAH 226.445 million.
The average number of employees in 2024 was 1,056 thousand people, and the average income per employee was UAH 34,632 thousand.
In 2023, Stalkanat reduced its net profit by 13.8% compared to 2022, from UAH 325.073 million to UAH 280.060 million, but increased its net income by 3.1% to UAH 3 billion 328.170 million. In 2023, the company shipped 72,593 tons of metal products, with exports accounting for 53% in physical terms. Capital investments in 2023 amounted to UAH 164.815 million.
Stalkanat is one of the largest manufacturers of steel ropes and reinforcement bars in Eastern Europe and a leader in the production of metal products in Ukraine.
According to the NDU for the third quarter of 2025, David Nemirovsky owns 50% of the shares, Anton Mikhalenko (non-resident) – 23.7%, and Maria Kondratyuk – 23.1%. Earlier, the company reported that Vitaliy Dubovich, a natural person, owns 3.199998% of its shares.
The authorized capital of PJSC Stalkanat currently amounts to UAH 17.736 million, with a share par value of UAH 0.17.
Astarta, Ukraine’s largest sugar producer, earned EUR43.70 million in net profit in January-September 2025, down 42.2% from the same period last year.
As noted in the company’s report to the Warsaw Stock Exchange, net profit in the third quarter of this year amounted to EUR 1.43 million, which is 20 times less than in the third quarter of last year.
According to the document, Astarta’s revenue for the nine months decreased by 22.4% to EUR342.78 million, although in the third quarter, compared to the same period last year, the decrease was only 3.8% to EUR116.16 million.
At the same time, due to the increase in production costs and a smaller increase in the net value of biological assets, gross profit for the nine months decreased by 34.2% to EUR121.05 million, while in the third quarter, it fell by 48.8% to EUR29.34 million.
As a result, EBITDA for the nine months amounted to EUR101.46 million, which is 22.9% less than for the nine months of last year.
Astarta specified that, excluding the impact of IAS41, the gross margin was 33% (-4 p.p. year-on-year), while the EBITDA margin even increased by 3 p.p. to 28%.
It is also noted that operating cash flow for the period decreased 3.6 times compared to the same period last year, to EUR 37.41 million, mainly due to the previous reduction in inventories, while investment cash flow doubled compared to the same period last year, to EUR75.44 million, with the largest investments made in the soybean processing and agriculture segments.
According to the published data, the main source of income for the agricultural holding in the reporting period was agriculture, which provided 33% of this income, or EUR112 million (-23% compared to the same period last year).
Sugar production accounted for 32% of Astarta’s revenue, or EUR 108 million (-36% compared to the same period last year).
Revenue from soybean processing remained stable at EUR 77 million, accounting for 22% of Astarta’s consolidated revenue. Revenue from livestock farming increased by 14% compared to the same period last year, reaching EUR 42 million, or 12% of total sales for the nine months of 2025.
Export revenue amounted to EUR 218 million, or 63% of sales.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine and the largest sugar producer in Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Globino (Poltava region), seven elevators, and a biogas complex.
In the first half of 2025, Astarta reduced its net profit by 10.3% to EUR47.11 million, while its consolidated revenue fell by 29.3% to EUR320.71 million.
On June 12 this year, the shareholders’ meeting approved the payment of dividends for 2024 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the figures for the previous two years.
According to its 2024 results, Dnipropetrovsk Metallurgical Plant (DMZ) named after Comintern (DMZ Kominmet) reduced its net profit by 2.97 times compared to the previous year — to UAH 18.913 million from UAH 56.197 million.
According to the annual financial report available to the Interfax-Ukraine agency, net income for this period decreased by 13.1% to UAH 2 billion 896.250 million.
Undistributed profit at the end of 2024 amounted to UAH 115.316 million.
It is also noted that in the first quarter of 2025, the volume of production and sales amounted to 8-10 thousand tons per month.
DMZ Kominmet LLC was established on the basis of a plant built in 1899 as a Belgian joint-stock company by the Shoduar brothers for the production of roofing, corrugated steel, tableware, and blade steel. The company specializes in the production of steel pipes, metal coating, and consumer goods.
The average number of employees was 559.
According to the plant’s data at the end of 2024, Voskym Dom-2014 LLC (Dnipro) owns a 31.556% stake in the company, Grominal Ltd owns 21.11%, DW Holding Ltd – 23.77%, and Genersys Group Ltd (all three are based in Cyprus) – 23.564%.
According to the annual report, the ultimate beneficial owner (controller) of DMZ Kominmet LLC is Semen Tokarev, a natural person with a 31.556% stake.
The authorized capital of the LLC is UAH 25.5 million.
IMK agricultural holding received $67.5 million in net profit in January-September 2025, which is 43% more than in the same period of 2024, according to the company’s report.
According to a report on the Warsaw Stock Exchange, IMC’s revenue for the reporting period amounted to $118.6 million, which is 16% less than last year. At the same time, profit from the revaluation of biological assets increased by 22% to $75.7 million.
Gross profit increased to $93.2 million, which is 6% more than a year earlier, and operating profit increased by 27% to $73 million (+27%). Profit before tax increased to $68.9 million (+45%).
The company’s normalized EBITDA for the nine months of 2025 was $88 million, up 24% from the same period in 2024.
In January-September 2025, IMC sold 387,660 tons of corn, which is 16% less than in the same period of 2024. At the same time, the cost of sales for the current year was 46.9% higher and amounted to $213 per ton. Accordingly, revenue was 23.8% higher and amounted to $82.9 million compared to $66.74 million a year earlier.
Sunflower sales were 2.6 times lower than in the same period last year and amounted to 25.43 thousand tons. The selling price was 55% higher than last year and amounted to $546 per ton, so revenue fell by 59.3% to $13.89 million compared to $23.43 million a year earlier.
IMK also reduced wheat sales by 2.6 times compared to the same period last year to 103.26 thousand tons in the first nine months of 2025. Wheat prices were higher than last year, at $209 per tonne compared to $181 per tonne a year earlier. However, this did not have a significant impact on revenue. It amounted to $21.63 million compared to $49.78 million (-56.6%) for the same period last year.
IMK Agroholding is an integrated group of companies operating in the Sumy, Poltava, and Chernihiv regions (northern and central Ukraine) in the crop production, elevators, and warehouses segments. The land bank is about 120,000 hectares, storage capacity is 554,000 tons for the 2023 harvest of 1.002 million tons.
PJSC Zaporizhogneupor, Ukraine’s largest refractory manufacturer and a member of the Metinvest Group, reduced its net profit by 43.3% in January-September this year compared to the same period last year, from UAH 117.163 million to UAH 66.489 million.
According to the company’s interim report, the company increased its revenue by 20.5% over nine months, to UAH 3 billion 306.077 million.
Retained earnings at the end of September 2025 amounted to UAH 70.317 million.
Zaporizhogneupor is Ukraine’s largest manufacturer of high-quality refractory products and materials.
According to NDU data for the second quarter of 2025, Metinvest B.V. (Netherlands) owned 50.78% of Zaporizhogneupor’s shares, while Zaporizhstal owned 49.21%.
The authorized capital of the private joint-stock company is UAH 75.925 million.
