Ukroboronprom's revenues increased by 50% in 2024 - media

Over the past three quarters, UOP has increased its net income by 50% year-on-year.

Here's What We Know

From January to September 2024, the largest state-owned arms manufacturer Ukroboronprom earned UAH 83.1 billion, compared to UAH 55.4 billion in the same period last year. The company's net profit grew by 37.2% from UAH 6.37 billion to UAH 8.74 billion.

Ukroboronprom also reported that the total volume of production and repair of products in units increased by 408%.

In particular, the production of drones, ammunition and precision weapons has increased significantly.

According to the Defense News rating, JSC "Ukrainian Defence Industry" for the first time entered the selection of fifty global defence companies in terms of orders for arms contracts. Every year, the publication publishes a report based on the companies' revenues from defence orders for the previous year, which allows us to estimate the volume of often non-public contracts.

From 2022 to 2023, Ukroboronprom's revenue increased by 72%, from $1.28 billion to $2.2 billion, which allowed the company to rise from 65th to 49th place in the ranking, jumping 16 positions at once.

Source: Ekonomichna Pravda