Ukrainian Defence Industry revenues increase by 50% compared to last year

Ukrainian Defence Industry (Ukroboronprom) company has increased its net income by 50% over the past three quarters compared to the same period last year.

Source: Ukroboronprom press service, in a commentary for European Pravda

Details: The largest domestic arms manufacturer earned UAH 83.1 billion (US$2 billion) from January to September 2024, while in the same period last year, the revenue was UAH 55.4 billion (US$1.3 billion). Over the same period, the company's net profit increased by 37.2%, from UAH 6.37 billion to UAH 8.74 billion (US$212 million). 

The company noted that the total volume of production and repair in units increased by 408%. In particular, the production of drones, ammunition and high-precision weapons has increased. 

The state-owned Ukrainian Defence Industry company includes 70 enterprises of the domestic defence and aircraft industry. In 2023, for the first time in its history, the UDI entered the top 50 global defence companies, earning US$2.2 billion. 

Recently, the company's former CEO Herman Smetanin resigned to head the Ministry of Strategic Industries. On 20 September, the UDI announced a contest for a new CEO.

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