Business news from Ukraine

RUBIZHNE CARDBOARD MILL has 26% RISE IN CORRUGATED CARDBOARD BOXES OUTPUT IN 2018

Rubizhne cardboard packaging mill in Luhansk region, one of Ukraine’s largest cardboard packaging producers, produced 36.46 million square meters of corrugated cardboard boxes in January and February 2018, including goods from its Trypilsky packaging plant, which is 26.3% up year-over-year.
The mills increased production of components of corrugated cardboard (cardboard and fluting) by 9.9%, to 46,090 tonnes.
The total commodity amount produced by both plants in the period in monetary terms grew by 45.1%, to UAH 858.85 million.
According to UkrPapir association, cardboard packaging production in Ukraine in January and February 2018 grew by 19.2% and amounted to 160.83 million square meters.
The Rubizhne cardboard packaging mill has worked on the packaging market since 1991, and specializes in the production of components for corrugated cardboard (cardboard and fluting) and corrugated cardboard boxes.
Its most important customers are large confectioneries, juice and tobacco producers.
The Rubizhne cardboard packaging mill acquired Trypilsky packaging plant in 2002 and subsequently began producing corrugated cardboard and corrugated packaging.

GOVT TO CONSIDER DRAFT NATIONAL SPACE PROGRAM FOR 2018-2022 DRAWN UP BY SSAU IN NEAR FUTURE – PM

The government expects that the draft national scientific and technical space program for 2018-2022 drawn up by the State Space Agency of Ukraine (SSAU) will be submitted to the government soon, Ukrainian Prime Minister Volodymyr Groysman has said.
“They [SSAU] are now preparing a new program, and will report on it and approve in the coming weeks,” he said in the Verkhovna Rada on Friday, March 16.
According to the prime minister, the current situation in the aerospace industry was discussed at a closed-door meeting in the Cabinet of Ministers held in January with the participation of all interested parties, during which he identified three top priority tasks in the SSAU’s work.
The head of government pointed out the increase in the effectiveness of cooperation under international space projects implemented with the participation of Ukraine, as well as the work of the industry to satisfy the internal needs of the state. “I do not want to dig into this issue, there are questions that I cannot talk about,” he said.
“The work is under way and will be considered by the government in closed-door mode, and appropriate decisions will be made,” the prime minister said.

STOLYCHNY ASPHALT plant SEES NET PROFIT RISE BY 1.5 TIMES IN 2017

PrJSC Stolychny asphalt plant (Kyiv) in 2017 saw its net profit rise by 1.5 times compared to 2016, to UAH 59.4 million.
According to a company report on holding a shareholders’ meeting, the company’s retained earnings increased by 30.7% in 2017, to UAH 99.8 million, the company’s assets increased by 21% compared to the previous year, to UAH 139.8 million.
Total debtor indebtedness in 2017 rose by 61%, to UAH 13.9 million, current liabilities increased by 7%, to UAH 8.7 million, while the company had no long-term liabilities.
As reported, Stolychny plant paid UAH 36 million to the shareholders in dividends for 2016.
PrJSC Stolychny asphalt plant was established in 2004. It specializes in production of asphalt mix for road construction and overhauls and reinforced concrete structures for underground walkways, collectors, and other engineering and communication facilities in road construction.

ORLEN RAISES FUEL SUPPLIES TO UKRAINE BY 11% IN 2017

Orlen Group increased petrol and diesel fuel supplies to Ukraine by 11% in 2017, the company’s report says. “Strong pressure is exerted in the Ukrainian fuel market on the part of Russian and Belarusian exporters, offering competitive prices. In spite of unfavorable conditions, Orlen Group increased sales of petrol and diesel fuel to the Ukrainian market by more than 11%,” the report says.
At the same time, the volumes of petrol and diesel fuel delivered in 2017 are not specified.
As reported, Ukraine in 2017 imported 7.828 million tonnes of petroleum products (under foreign economic activity code 2710 – petrol, diesel fuel, fuel oil, jet fuel, etc.) for a total of $4.159 billion, in particular in December for $433.776 million.
According to the State Fiscal Service, imports from Belarus totaled $1.828 billion (a share of 43.96%), Russia for $1.272 billion (30.6%), Lithuania for $469.398 million (11.29%), other countries for $588.944 million (14.16%).

UKRAINIAN INSURANCE GROUP POSTS 20% RISE IN NET PROFIT

Ukrainian Insurance Group (Kyiv) in 2017 saw a net profit of UAH 38.231 million, which is 20.2% more than in 2016.
According to materials for the agenda of a general shareholders’ meeting scheduled for April 20, the company last year increased assets by 3%, to UAH 830.8 million.
Its net worth grew by 10%, to UAH 291.572 million.
Fixed assets for the year increased by 9%, to UAH 12.521 million.
Total debtor indebtedness for 2017 decreased by 2.2 times, to UAH 30.718 million.
Cash and cash equivalents were up by 4.4%, to UAH 535.434 million.
Current liabilities amounted to UAH 62.851 million.
Ukrainian Insurance Group has been operating in the Ukrainian insurance market since 2000. Since 2008 it has been a full member of Vienna Insurance Group, the leading insurer in Austria, Central and Eastern Europe.
Its charter capital is UAH 114.259 million.

NATIONAL BANK OF UKRAINE PREDICTS DOWNWARD TRENDS FOR INFLATION

The change of the inflation trends to a downward one is expected in coming months, Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Solohub has said.
“In annual terms, it will start to slow down, and it’s understandable: in the next few months… If you look at the last year, then the inflation shock began to unfold starting around April,” he told journalists in Kyiv on Friday.
As reported, growth of consumer prices in Ukraine in 2017 accelerated to 13.7% from 12.4% compared to 2016, which, however, is significantly lower than in the past years: 2015 – 43.3%, 2014 – 24.9%.
Inflation in Ukraine in January 2018 was 1.5% compared to 1% in December 2017. In annual terms, consumer price growth also accelerated in January to 14.1% from 12.6% in the previous year.
At the same time, in February, consumer price growth slowed to 0.9%. In annual terms, inflation fell to 14%.