Business news from Ukraine

Business news from Ukraine

SWEDISH SCANIA OPENED NEW SERVICE STATION IN UKRAINE

Scania Ukraine opened a new Scania Brovary service station with a total area of 1,110 sq.m. near the Brovarskaya ring road at the intersection of the M95 and H07 highways, the distribution company’s press service reported.

“By the decision to open a new service station in the Kiev region, we want to confirm our commitment to the Ukrainian market. We are aware of all the risks for our investments, but we want to be closer to our customers, whose activities are important for the Ukrainian society, especially in the current conditions,” the press quotes – the service of the General Director of Scania Ukraine LLC Hokan Jyde in a message on the website on Thursday.

The station includes service boxes, warehouse and office premises. At the same time, 8 trucks can be serviced in it, there is also a large spare parts warehouse.

As reported, the new station became the 12th in the company’s service network.

Oleksandr Titskiy, Director of Dealer Network and Dealer Development in Ukraine, noted that taking into account the location of the station (where the main routes run from north to west and south), the company sees a huge need for the provision of services for the repair and maintenance of trucks not only in this part of the region, therefore, in the future, the center can be significantly expanded, and will provide a greater range of services for carriers.

The opening of the station was attended by Swedish Ambassador to Ukraine Tobias Tyberg, who noted that Sweden supports Ukraine with defense equipment, humanitarian aid, provides financial support, and continues to work with Ukraine on reforms in local self-government, energy independence, and environmental protection.

“Today ScaniaGroup is opening a new facility near Kyiv. Scania trucks will help Ukraine restore what Russia is destroying. Nothing can break the resilience of Ukrainians,” the ambassador tweeted.

The distribution company with foreign investments “Scania Ukraine” has been operating on the Ukrainian market since 1998 (before that, there was a representative office in 1993). In 2020, the company’s revenue decreased by 6% compared to 2019 – to UAH 1 billion 651 million, net profit decreased by 22.7% – to UAH 42.4 million.

According to Scania Ukraine (mid-last year), since 1997, it has paid EUR97.8 million in taxes to the Ukrainian treasury and has invested more than EUR38.8 million in the opening of service stations, new jobs, equipment and employee training.

In 2020, the company occupied 27.4% of the Ukrainian market for trucks manufactured in Europe. Its income amounted to UAH 1.65 billion, net profit UAH 42.4 million.

As reported, at present, out of 12 Scania service centers (including the new one), 10 are working, only the stations in Kharkov and Kramatorsk are closed.

A few days ago, the company reopened its distribution site in Bucha.

INSURER “KNYAZHA LIFE VIG” IN FIRST QUARTER SIGNIFICANTLY REDUCED COLLECTION OF INSURANCE PAYMENTS AND PAYMENTS

The insurance company “Prince Life Vienna Insurance Group” (Kyiv) collected UAH 14.275 million in insurance payments in January-March 2022, which is 21.84% less than in the same period a year earlier.

This was reported on the website of the Standard-Rating rating agency, which confirmed the financial strength/credit rating of the UK at uaAA+ in the first quarter of 2022.

According to the report, the volume of payments and compensations made by the insurer for the specified period amounted to UAH 3.627 million, which is 41.21% lower than the volume of payments for the first quarter of 2021. Thus, the level of payments decreased by 8.37 percentage points. – up to 25.41%.

Acquisition costs of the insurer decreased by 16.76% – to UAH 2.681 million.

At the same time, the insurer received a net profit of UAH 3.556 million, which is 3.10% higher than the profit for the first three months of 2021.

As of March 31, 2022, the company’s assets increased by 4.49% – to UAH 634.504 million, equity showed an increase of 1.79% – to UAH 107.241 million, liabilities increased by 5.06% – to UAH 527.263 million, cash and their equivalents – by 98.74%, up to UAH 109.027 million.

At the beginning of the second quarter of 2022, equity covered 20.34% of the insurer’s liabilities, of which 20.68% were secured by cash and cash equivalents.

At the same time, it is noted that as of April 1, 2022, the insurer formed a portfolio of investments in bank deposits in the amount of UAH 39.900 million, as well as investments in government bonds in the amount of UAH 445.808 million. Thus, at the beginning of the second quarter, liquid assets (cash and cash equivalents, bank deposits and government bonds) covered 112.80% of the insurer’s liabilities, which indicates a very high level of the company’s provision with liquid assets.

The RA notes that the company’s high level of external support is provided by its shareholder, the international insurance group headquartered in Austria, Vienna Insurance Group Wiener Städtische Versicherung AG., which is represented by 50 companies in 30 countries and is the leader in the insurance market in Central and Eastern Europe.

According to preliminary data from VIG for the first quarter of 2022, premiums increased by 11.2% compared to the same period in 2021 to 3.45 billion euros, profit before tax decreased by 3.3% to 124 million euros, and combined ratio improved by 0.6 p.p. – up to 94.6%.

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WORLD HEALTH ORGANIZATION TO HOLD EMERGENCY MEETING TO ASSESS DANGER OF MONKEYPOX VIRUS

The World Health Organization (WHO) will hold an emergency meeting to discuss whether the monkeypox virus spreading among humans poses a public health hazard of international concern, Western media reported.

The meeting is expected to take place on June 23rd.

To date, since the beginning of the year, 1.6 thousand cases of infection with the monkeypox virus have been registered, another 1.5 thousand people are under suspicion. 72 people who have been infected have died. In total, the virus has been detected in 39 countries.

The virus was first discovered in monkeys in 1958 and in humans in 1970.

Monkeypox is a rare infectious disease most prevalent in remote areas of Central and West Africa. Its symptoms are nausea, fever, rash, itching, and muscle pain. Cases outside the region are often associated with travel to epidemiologically disadvantaged areas. The virus is spread by contact, but its virulence is low.

Earlier, the WHO stated that the situation with the spread of the monkeypox virus among humans will not reach pandemic proportions.
Earlier, the Club of Experts, Doctor of Medical Sciences Dmitry Ivanov and Doctor of Biological Sciences Svyatoslav Morozov analyzed this disease and gave their forecasts. For a more detailed analysis of the situation, see the YouTube channel of the Club of Experts at the link

DEFICIT OF UKRAINE’S FOREIGN TRADE IN GOODS IN JAN-APR DECREASED BY 42 TIMES TO $29.6 MLN FROM $1236.7 MLN

The negative balance of Ukraine’s foreign trade in goods in January-April 2022 decreased by almost 42 times compared to the same period in 2021 – to $29.6 million from $1,236.7 million, the State Statistics Service (Gosstat) reported on Tuesday.

According to its data, the export of goods from Ukraine for the reporting period compared with January-April 2021 decreased by 12.3% – to $16.712 billion, imports decreased by 17.5% – to $16.742 billion.

The State Statistics Service clarifies that in April this year, compared to March 2022, the seasonally adjusted volume of exports increased by 7.2%, to $2.727 billion, and imports, by 65.1%, to $2.78 billion.

The seasonally adjusted foreign trade balance in April 2022 was negative and amounted to $0.053 billion, which is better than in April 2021, when the seasonally adjusted foreign trade balance was also negative at $0.359 billion.

The State Statistics Service recalls that in March 2022 it was positive and amounted to $0.86 billion.

The export-to-import coverage ratio in January-April 2022 amounted to 1.00 (in January-April 2021 – 0.94).

The State Statistics Service specified that foreign trade operations were carried out with partners from 215 countries of the world.

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DEFICIT OF UKRAINE’S FOREIGN TRADE IN GOODS IN JAN-APR FALLS BY ALMOST 98%

The deficit of Ukraine’s foreign trade in goods in January-April 2022 fell by almost 97.6% compared to the same period in 2021, to $29.6 million from $1.237 billion, the State Statistics Service reported on Tuesday.

According to its data, the export of goods from Ukraine for the reporting period compared with January-April 2021 declined by 12.3%, to $16.712 billion, imports fell by 17.5%, to $16.742 billion.

The State Statistics Service said that in April this year, compared to March 2022, the seasonally adjusted volume of exports increased by 7.2%, to $2.727 billion, and imports, by 65.1%, to $2.78 billion.

The seasonally adjusted foreign trade balance in April 2022 was negative and amounted to $0.053 billion, which is better than in April 2021, when the seasonally adjusted foreign trade balance was also negative at $0.359 billion.

The State Statistics Service recalls that in March 2022 it was positive and amounted to $0.86 billion.

The export-to-import coverage ratio in January-April 2022 amounted to 1.00 (in January-April 2021 – 0.94).

The State Statistics Service said that foreign trade operations were carried out with partners from 215 countries.

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UKRAINIAN “NOVA POSHTA” TOMORROW WILL RESUME DELIVERY FROM ONLINE STORE ALIEXPRESS (CHINA)

Nova Poshta Global, which is part of the Nova Poshta group of companies, resumes delivery from the online store AliExpress (China) directly to Ukraine from June 15, the press service of the NP reported on Tuesday.

“This is the most anticipated resumption of delivery that the Ukrainians have been waiting for. We held dozens of meetings with our partner to assure him that we are working as usual and have already restored the pre-war speed. Now users can once again order delivery of goods from AliExpress directly from the site to a convenient branch or “Nova Poshta” post office. To do this, you need to specify the AliExpress Standard Shipping option and select the nearest operating branch / post office on the map, “Novaya Poshta Global CEO Yuri Benevitsky is quoted.

The postal operator notes that before the war, AliExpress headed the TOP of the most beloved foreign online stores of Ukrainians. On average, Novaya Poshta customers ordered about 2.6 tons of goods from AliExpress per day.

Currently, the updated AliExpress platform app is not available to users in Ukraine.

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