Ukraine's largest state-owned defense company Ukroboronprom reported a consolidated net profit of Hr 1.31 billion ($31.5 million) for the previous year, according to a press release at the company's website.
General Major Oleh Huliak replaced Herman Smetanin, who became the head of the Strategic Industries Ministry as part of the biggest wartime government reshuffle in September.
Ukroboronprom was ranked 65th last year, moving up by 16 positions in 2024.
Foreign funding in Ukraine's defense industry is showing a noticeable impact on the domestic production of weaponry and equipment, President Volodymyr Zelensky said in his evening address on July 25.
Ukraine's state-owned defense company Ukrainian Defense Industry, also known as Ukroboronprom, has opened a representative office in Washington as Kyiv seeks to strengthen defense partnerships abroad amid Russia's war.
Ukraine employs long-range drones to strike deep into Russian territory, targeting military infrastructure such as airfields and logistics, as well as oil refineries and depots.
The facility will enable faster repair of foreign-supplied equipment and their subsequent return to the front line. In the future, the plant will also produce new types of armored vehicles, according to the minister.
NATO-standard 155 mm shells are "desperately short supply" on the front, the Washington Post says.
Ukraine may have a chance to reshape this war — if it can solve its wartime production challenges. Earlier this week, two airbases deep inside Russia were struck by explosions. Several Russian strategic bombers were damaged. While Ukraine has not claimed responsibility, most observers and analysts agree that these were most
(Updated: )
