Significant Achievements in a Challenging Year
“We had a difficult year, but in 2024 we sold twice as many products as in 2023. This is a great achievement of our entire team. We also have orders for 2025,” Subbotin announced during a celebration of the company’s 91st anniversary.
- Sales Growth: According to the Clarity Project, Ukrenergomashyn's net income from sales increased by 2.6 times in the first nine months of 2024 compared to the same period in 2023, reaching UAH 616.1 million.
- Overcoming Decline: Despite a 2.8-fold decrease in net income in 2023 compared to 2022, the company rebounded with a strong performance in 2024.
Commitment to Kharkiv
Subbotin reassured stakeholders that the company will continue its operations in Kharkiv, despite inquiries about possible relocation:
“I want to assure you that the enterprise will not leave Kharkiv. We are opening branches in western Ukraine, hoping to return to peaceful life as soon as possible.”
Expansion to Western Ukraine
In April 2024, Ukrenergomashyn’s supervisory board approved the creation of three branches in Lviv, Zakarpattia, and Chernivtsi. These branches aim to:
- Accelerate Production: Enhance manufacturing of electric traction equipment.
- Optimize Logistics: Improve supply chain efficiency, particularly for export contracts.
- Ensure Continuity: Offset supply chain disruptions caused by the loss of domestic parts and rolled metal suppliers.
The company’s proximity to the EU border is expected to streamline raw material procurement and improve logistics for international operations.
About Ukrenergomashyn
JSC Ukrenergomashyn is Ukraine's only manufacturer of turbine equipment for hydroelectric, thermal, and nuclear power plants. Additionally, the company produces electric motors for railway and urban transport under the "Elektrozahmash" brand.
Looking Ahead
With a strong rebound in 2024 and a clear strategy for 2025, Ukrenergomashyn is positioning itself as a resilient and forward-thinking enterprise, committed to maintaining its leadership in Ukraine’s energy and transportation sectors while expanding its international reach.
