Business news from Ukraine

DNIPRO COKE AND CHEMICAL PLANT GETS UAH 1.2 BLN PROFIT

PJSC Dnipro Coke and Chemical Plant (Kamianske, Dnipropetrovsk region) received a net profit of UAH 1.193 billion in 2017, compared to a net loss of UAH 273.26 million in 2016. According to the company’s official information to the agenda of a meeting of stockholders scheduled for May 14, last year the company’s undistributed profit amounted to UAH 1.391 billion.
The total amount of accounts receivable grew by 30.6 times last year, to UAH 2.806 billion, long-term liabilities by 35.4%, to UAH 124.146 million, and current liabilities by 3.9 times, to UAH 8.287 billion.
The value of assets in 2017 grew by 3.8 times, to UAH 9.973 billion, whereas the value of fixed assets shrank by 8.5%, to UAH 300.94 million.
As reported, Evraz-Dniprodzerzhynsk Coke and Chemical Plant at a stockholders meeting on September 18, 2017 changed its name to Dnipro Coke and Chemical Plant and was restructured from a public into private joint-stock company.

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UKRAINE COULD BOOST CHEERY EXPORTS TO EU, ASIA

Ukraine can increase the supply of cherries to the markets of the EU and Asia in 2018 and expand the geography of exports of melons, the fruit and vegetable market analyst, Tetiana Hetman, has said.
“There will be attempts to enter the EU (Poland, the Baltic states) market with strawberries in May and autumn 2018. It is expected that exports of cherries to the EU and Asia will increase, as well as melons supplies would be expanded to new directions. For example, Kherson watermelons can go to the UK. The attempts were made in 2017,” she was quoted on the website of the Ukraine Horticulture Business Development Project (UHBDP).
According to the expert’s forecasts, this year exports of frozen raspberries will increase.
“Family farms bought poor quality planting material, and low-quality berries will be supplied to the market, low-grade raw material prices will be at or below cost, while Poles in the border zone are now building a lot of bases and they will demand quality raw materials, so the price will be kept for high-quality raw materials,” Hetman said.

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STATE-OWNED UKRENERGO SEES 42% FALL IN NET PROFIT IN 2017

State-owned enterprise Ukrenergo saw a 42% fall in net profit in 2017 (by UAH 1.264 billion) compared with 2016, to UAH 1.748 billion.
According to a company financial report, net revenue last year rose by 15.2% or UAH 1.09 billion, to UAH 8.264 billion, and gross profit grew by 17% or UAH 849.257 million, to UAH 5.838 billion.
As reported, national energy company Ukrenergo in 2017 increased transmission of electricity through the backbone power grids by 2.4% (by 2.616 billion kWh) compared to 2016, to 113.837 billion kWh. The cost of electricity transmission services rose by 13.7% in 2017 (by UAH 965.217 million), to UAH 8.022 billion.
Ukrenergo operates trunk and interstate power grids, as well as performs the centralized dispatching of the united energy system in the country. The company is a state-owned enterprise, it is subordinate to the Ministry of Energy and Coal Industry, but by the end of 2018 the company is to be reorganized into a private joint-stock company.

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INSURER INGOSSTRAKH HAS 5-FOLD RISE IN NET PROFIT

Private joint-stock company Ingosstrakh (Dnipro) saw UAH 378.2 million of net profit in 2017 (some 5-fold rise year-over-year).
According to a financial report of the company posted in the information disclosure system of the National Commission for Securities and the Stock Market, last year Ingosstrakh collected net insurance premiums worth UAH 737.856 million, which is 41.5% less than a year ago. Some UAH 77.42 million was sent to reinsurance, which is 2.4 times more than a year ago and UAH 193.5 million of payments in claims were made (82.2% down).
Administrative costs were UAH 22 million, while a year ago they stood at UAH 6 million.
Ingosstrakh was registered in 2004. Its core business is provision of risk insurance services.

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