Business news from Ukraine

UKRAINE LAUNCHES INTERNATIONAL FLIGHTS FROM JUNE 15

Prime Minister of Ukraine Denys Shmyhal states that the government will launch domestic flights from June 5, and foreign flights from June 15.
“From June 5, we will launch domestic flights, and foreign flights – from June 15. And we want cafes and restaurants to start hosting visitors inside from June 5,” he said at a government meeting on Wednesday.

AVERAGE WHOLESALE PRICES OF FUEL IN UKRAINE IN MAY

The average large-scale wholesale price of A-92 petrol in Ukraine increased by 3.1%, to UAH 20,000 per tonne over the past week from May 25 to June 1.
The average large-scale wholesale price of A-95 petrol grew by 3%, to UAH 20,900 per tonne, according to data from the A-95 Consulting Group (Kyiv).
The average large-scale wholesale price of diesel fuel was 2.4% up to UAH 16,970 per tonne.
Changes in large-scale wholesale prices of fuel in UAH per tonne (VAT included, 100% prepayment):

©Source: A-95 Consulting Company
Meanwhile, the average small-scale wholesale price of A-92 increased by 4.4%, to UAH 15.52 per liter; that of A-95 by 4.5%, to UAH 16.50 per liter. The price of diesel fuel increased by 3.7%, to UAH 14.72 per liter.
Changes in small-scale wholesale prices of fuel in UAH per liter (VAT included, 100% prepayment):

©Source: A-95 Consulting Company

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 03/06/20

National bank of Ukraine’s official rates as of 03/06/20

Source: National Bank of Ukraine

ANEX TOUR ALREADY FORMING SUMMER 2020 TOUR PACKAGE

A new success story has begun due to great patience of Ukrainians, well-coordinated work of state authorities and heroism of doctors, Director General of ANEX Tour Ukraine Ilker Adiguzel said.
According to reports from various countries and statements by public officials in Ukraine, borders will open for air traffic from June 15. ANEX Tour is already checking out the flight schedule based on bilateral agreements. Certainly, first flights will be launched to the countries which have prepared their infrastructure for receiving guests, he noted.
“Turkey, which is our main destination, will start receiving guests from July 1 this year. It has become an exemplary country of the world by taking all necessary safety measures for tourists and the tourism sector as a whole. Also, the UAE and Asian countries most likely will be among the first countries to open for flights. Serious work is being carried out there at the top level with the aim of reviving tourism and making the infrastructure safe. The time of a coronavirus outbreak was the most difficult for European countries. However, we hope that flights to Europe will be allowed at the next stage. We will start from Spain. With its destinations network covering all countries, ANEX Tour is the world’s second largest tour operator. Taking this fact into account, according to the calendar (including the schedule of flights and opening of borders), in line with official decisions and strategic forecasts, which will be approved, we continue offering the best services to our tourists. We are preparing to win hearts of millions of Ukrainian travelers by transporting them safely to vacations of their dream,” Adiguzel said.
He also noted that it is planned to launch new direct flights from Ukraine to popular destinations.

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MHP POSTS LOSSES IN Q1

Myronivsky Hliboproduct (MHP) in the first quarter of 2020 received $174 million in net loss compared to $33 million in net profit for the same period in 2019.
According to the holding’s report on the London Stock Exchange’s website, its revenue increased by 2%, to $443 million, export revenue decreased by 11.6%, to $237 million (54% of total revenue compared to 61% in January-March 2019).
MHP’s operating profit decreased by 6%, to $47 million, gross profit grew by 14%, to $92 million. The company’s EBITDA in the reporting period grew by 16%, to $96 million, EBITDA margin to 22% from 19% in the first quarter of 2019.
“The net loss of $174 million compared with a profit of $33 million for the first quarter of 2019 is associated with $182 million of losses from foreign currency cashless transfers (foreign exchange differences) in the first quarter of 2020,” MHP explained.
Net profit before exchange rate differences in January-March 2020 amounted to $8 million, which is 33% lower than in the same period a year earlier.
MHP’s net debt as of March 31, 2020 amounted to $1.22 million compared to $1.14 million as of December 31, 2019.
In the first quarter of 2020, total capital investment amounted to $21 million and were mainly related to the maintenance and production of Perutnina Ptuj.