Business news from Ukraine

UKRAINE SOWS SPRING GRAINS ON 86% OF PLANNED AREAS

Ukraine as of April 25 had sowed 2.1 million hectares (86% of the forecast) with early grain and leguminous crops.
According to a report on the website of the Ministry of Agrarian Policy and Food, 1.4 million hectares was sown with spring barley (86% of the plan), 157,000 hectares with oats (77%), 144,000 hectares with wheat (82%), and 386,000 ha with peas (91%).
In addition, corn was sown on one million hectares (22%), sugar beets on 239,000 hectares (79%), sunflower on 1.9 million hectares (34%), and soybeans on 172,000 hectares (9%).
Winter crops for grain were fertilized in 14 regions of Ukraine on an area of about 7.2 million hectares (99%).
As reported, with reference to the ministry, the area under early spring grains in 2018 will amount to 2.38 million hectares.

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FOZZY RETAIL DEVELOPER POSTS UAH 21.5 MLN NET LOSS

PrJSC Fozzy Retail (Vyshneve, Kyiv region), a construction and development company, in 2017 received UAH 21.5 million of net loss, while in 2016 it saw UAH 102.6 million of net profit. According to a company report in the information disclosure system of the National Securities and Stock Market Commission, its net income last year doubled to UAH 4.4 million, while undistributed profit halved to UAH 154.5 million.
The assets of Fozzy Retail decreased by 16.4% and amounted to UAH 857.3 million.
Long-term liabilities decreased by 25 times, to UAH 1.45 million, current liabilities increased by 7.7%, to UAH 699 million.
As reported, Fozzy Retail will pay UAH 141.6 million in dividends for 2017.
PrJSC Fozzy Retail was established in 2005. It carries out activities in the field of organizing construction of real estate for sale or leasing, as well as in accounting and consulting.

SUBSIDIARY OF VR GLOBAL PARTNERS COULD BUY 50% IN 60 MW SOLAR PLANT

Cyprus-based Wiltan Enterprises Limited, controlled by VR Global Partners and affiliated with VR Capital Group, has asked the Antimonopoly Committee of Ukraine (AMC) to approve the possible purchase from the partners of ICU Investment Group, Makar Paseniuk and Kostiantyn Stetsenko, of 50% of Cypriot-based Matlomenius Holdings Ltd, which owns private enterprise PodilskEnergo (Kyiv), which is building a solar power plant with a capacity of 60 MW.
According to the AMC, the agency plans to consider granting permission to Wiltan Enterprises to purchase Matlomenius Holdings shares, which will provide the buyer with 50% of the voting shares on the company’s board, this week.
ICU Investment Group did not comment on this information.
According to data from Ukrenergo, the connection of this solar plant, formerly known as Kamyanets-Podilska solar power plant, is scheduled for this year, and its cost is estimated at UAH 3.358 billion.
According to the state register, PodilskEnergo was established in late 2012.
The project of Kamyanets-Podilska solar power plant was previously developed by Torense Group, announcing investments of EUR72 million. However, according to Opendatabot, then Roman Kohut, connected with a number of other solar plant projects, became its owner, and Matlomenius Holdings replaced him at the beginning of February this year.

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STATE-OWNED UKRZALIZNYTSIA SEES PROFIT RISE BY 20 TIMES IN Q1, 2018

PJSC Ukrzaliznytsia received UAH 271 million of net profit in January-March 2018, which is 20 times more than in the first quarter of 2017, acting chairman of the company Yevhen Kravtsov has said, when presenting the report of the company’s work for the first quarter of 2018 at a government meeting in Kyiv.
“For the first quarter of 2018, all the main financial and economic indicators of Ukrzaliznytsia were fulfilled and overfulfilled in accordance with the financial plan. In terms of net profit, in the first quarter we received UAH 271 million of net profit, which is 20 times more than in the first quarter of 2017 and 2.5 times more than for the entire 2017. Revenues grew by almost 20%, by UAH 2.5 billion. Capital investments were 20% overfulfilled. Capital investments in the first quarter were three times more than in the first quarter of 2017,” he said.
According to Kravtsov, in the first quarter Ukrzaliznytsia paid UAH 1 billion more taxes than for the same period of 2017.
He also said that 62% of capital investments were used for rolling stock renewal, another 13% for the program of priority capital projects in infrastructure. In January-March 2018 more than 3,000 wagons were repaired, including 1,230 purchased and newly built and 1,892 overhauled cars.
In general, according to Kravtsov, over the first quarter more than 12% of the Ukrzaliznytsia car fleet was updated. Also, the number of freight locomotives was increased by 25 units, while 29 passenger carriages underwent capital modernization.

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UKRAINE WANTS TO TAKE PART IN PROJECTS IN EGYPT WORTH $200, $80 MLN – MODERNIZATION OF STEEL WORKS AND RECONSTRUCTION OF A COKE-OVEN BATTERY

Ukraine seeks to take part in several projects in Egypt, in particular projects on modernization of a steel works and reconstruction of a coke-oven battery for a company, Ukraine’s First Deputy Prime Minister, Minister for Economic Development and Trade Stepan Kubiv has said. “Ukraine is ready to undertake several projects in Egypt. The first one is modernization of Helwan steel works worth some $200 million and reconstruction of a coke-oven battery for El Nasr for Coke & Chemicals worth some $80 million,” Kubiv wrote on his Facebook page after a meeting with the minster for state-owned companies of Egypt who visited Ukraine with the purpose of attracting Ukrainian specialists to construction and modernization of Egyptian state-owned enterprises.
Kubiv also said that last year goods flow between Ukraine and Egypt reached almost $2 billion, and trade with services grew by 62% in 2017 compared with 2016.

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LARGEST UKRAINIAN MOBILE OPERATOR KYIVSTAR: UKRAINIANS SPEAK ON CELL PHONE THREE TIMES MORE THAN EUROPEANS

Subscribers of the largest Ukrainian mobile communications operator Kyivstar speak 589 minutes on average on cell phones, and average voice calls in the European Union (EU) amount to 200 minutes a month, President of Kyivstar Peter Chernyshov wrote on his Facebook page. He said that Ukrainians on average use mobile phone more and pay less.
“According to GSMА Intelligence, in 2017, subscribers in the EU used 200 minutes a month on average. The average revenue per user (ARPU) was UAH 267 ($13.72). Each subscriber of the Kyivstar network used 589 minutes a month on average with ARPU of UAH 49 ($1.8),” Chernyshov said.
He also said that a Frenchman or a Portuguese used near 3 gigabytes of data traffic a month in 2017, and a Ukrainian used 1 gigabyte. The president of Kyivstar believes that after the full launch of 4G communication in Ukraine the situation would change and Ukrainians would use mobile Internet more actively.

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