KSG Agro has been renewed its national scale rating of uaA+ (the Agency’s international scale rating of BOV) by Expert Rating Agency, the press service of the agroholding said.
“Rating Committee of RA Expert-Rating, despite the large-scale aggression of Russia and the difficult situation in the Ukrainian agro sector, has renewed long-term credit rating of KSG Agro on the national scale at the level uaA+. This means that the borrower or a separate debt instrument with a uaA rating is characterized by high creditworthiness compared to other Ukrainian borrowers or debt instruments”, – reported in the agricultural holding and added that the credit rating was assigned based on the analysis of data from the consolidated statements of KSG Agro for the first quarter of 2023.
Experts of the rating agency indicated that the predominant share in the structure of long-term liabilities of KSG Agro as of March 31, 2023 was occupied by long-term loans, the volume of which in the analyzed period decreased by 7.59% to $24 million. At the same time, the volume of short-term loans received by KSG Agro from March 31, 2022 to March 31, 2023 decreased by 21.97% and amounted to $2.67 million.
Sales volumes of the holding company’s products in the analyzed period increased significantly: income from sales for the first quarter of 2023 compared to the first quarter of 2022 increased by 44.52% and amounted to $5.12 million, which is explained by the increase in exports of grain crops in the current year.
Analysis of KSG Agro’s consolidated financial statements by the agency’s experts showed that EBITDA for the first quarter of 2023 compared to the first quarter of 2022 increased by 22.90% to $1.87 mln, and the ratio between EBITDA for the first quarter of 2023 and loans as of March 31, 2023 increased by 1.72 p.p. to 7.08% compared to last year’s figure.
There has been no fighting in the immediate vicinity of Agroholding’s assets since the start of the Russian invasion. Also, they have not suffered from flooding as a result of Russia’s undermining of the Kakhovskaya HPP dam and have alternative sources of water supply. As in the previous year, in the first quarter of 2023 KSG Agro used more of its own grain to produce feed instead of buying it, reducing the holding’s dependence on external suppliers of feed ingredients during the war, analysts said.
“The company has successfully completed the spring sowing campaign and KSG Agro’s management does not expect significant disruptions in its production cycle or a meaningful negative impact of the Russian invasion on business operations in the near future. The Agency notes the increase in sales volumes and efficiency indicators of the holding, as well as the growth of EBITDA/loans ratio”, – summarized RA Expert Rating.
Vertically integrated holding KSG Agro is engaged in pig breeding, as well as in the production, storage, processing and sale of grain and oilseeds. Its land bank is about 21,000 hectares in Dnipropetrovsk and Kherson regions.
According to the agroholding, it is among the top 5 pork producers in Ukraine.
Last year KSG Agro ended 2022 with a net loss of $1.68m compared to $17.71m net profit in 2021 due to the full-scale war launched by Russia, its EBITDA decreased 5.5 times to $1.79m and revenue decreased 47.3% to $16.2m.
The Carpathian Mountains are one of the most popular tourist regions in Ukraine, attracting visitors with their Carpathian landscapes, unique culture and hospitality. The Carpathian resorts are a place where you can find unique mineral waters, vineyards, castles, delicious cuisine and a wide range of outdoor activities, from hiking in the mountains to rafting.
The developed hotel infrastructure of the Carpathians and Zakarpattia includes a large number of hotels and resorts of various categories. There are hotels for families with children, for outdoor enthusiasts, for those wishing to immerse themselves in SPA treatments, and for fans of ecotourism. Zakarpattia offers hotels and resorts for every budget and taste. That’s why we’ve selected the five best places to stay in the Carpathians in 2023.
Fifth place – Grand Hotel Pylypets and HVOYA Hotel
The Grand Hotel Pylypets is a luxurious 4-star hotel and restaurant complex, picturesquely located on the outskirts of the mountain village of Pylypets in the Mizhhirya district. Pylypets is famous as a Carpathian resort, equipped for active recreation – hiking, cycling and skiing, as well as for SPA relaxation.
The hotel’s territory is located in close proximity to the Ploshanka River and the Shipit Waterfall, under the steep slopes of the Borzhavsky Ridge, reaching an altitude of approximately 1500 meters above sea level. Just a few minutes’ walk from the hotel is a 2-section cable car, which transports tourists to the top of Mount Gemba (1498 m) throughout the year.
Opened in January 2012, the Grand Hotel Pylypets with its unsurpassed elegance and high-quality 4-star hotel service was recognized as the “Best Hotel Complex of Transcarpathia – 2012” and won the regional stage of the All-Ukrainian competition “100 Best Products of Ukraine”. Hotel services include: a choice of rooms of different categories; restaurant and banquet hall; terrace by the river on the territory of the hotel; gazebos and recreation areas on the territory of the hotel; conference hall; outdoor swimming pool with heated water; traditional bath by the river; Finnish sauna; massage services; salt room; fitness room; billiards; children’s group and children’s playground; parking with round-the-clock security.
In 2013, Grand Hotel Pylypets was ranked among the 100 best hotels in Ukraine and was awarded a diploma. In the same year, the hotel won first place in the nomination “Best Hotel in the Carpathians” and was awarded the Carpathian Travel Awards for efficiency and high quality of tourist services.
Address: 352 Pylypets village, Mizhhirya district, Zakarpattia region, Ukraine
Website: https://grandhotelpylypets.com/
HVOYA Hotel is a unique complex consisting of two buildings located in the picturesque Vyshnі tract in Bukovel, Ivano-Frankivsk region. Due to its location, it provides a great opportunity for winter and summer activities.
The hotel’s two buildings combine modernity and comfort, and guests are offered different types of rooms, depending on their needs and requirements. The hotel has two reception areas operating around the clock, which ensures convenience and efficiency of guest service.
The restaurant at HVOYA Hotel offers breathtaking views of the Carpathians. Here guests can enjoy gourmet cuisine while soaking up nature through the large panoramic windows.
The SPA area includes a variety of treatments and services, including various types of massages, therapies and other relaxation treatments.
The hotel has an underground parking lot that can accommodate up to 110 cars, which provides additional convenience for guests traveling by car.
For the safety of guests, the hotel is equipped with a modern video surveillance system and has its own security. In addition, reliable OTIS lifts have been installed to ensure comfortable and safe movement around the hotel. For skiing enthusiasts, the hotel offers a ski room with a drying room for equipment. Uninterrupted Internet access guarantees communication with the outside world and the ability to work or have fun online.
HVOYA Hotel is an ideal place for those who appreciate comfort, quality of service and sophistication of the atmosphere.
Address: Vyshni tract, Bukovel, Ivano-Frankivsk region
Website: https://invest.hotelhvoya.com/
Both hotels are distinguished by a high level of service, attentive attitude to guests and an attractive location that allows you to quickly reach the main tourist attractions. They are ideal for family vacations, romantic trips or corporate events.
Fourth place: Yaremche Club Hotel
Yaremche Club Hotel is proud of its magical location among the panoramic Carpathian mountains, 550 meters above the sea, in the resort area of the picturesque city of Yaremche.
The uniqueness of this hotel lies in its special design: the exterior style of the hotel reflects the traditions of local architecture, while inside it provides modern service, a pleasant atmosphere and hospitality of the staff. Visitors can expect to relax in comfort while enjoying the beauty of nature and extraordinary views.
The Yaremche Club Hotel offers a wide range of services for complete relaxation and re-energization for any season of the year. Guests can relax and unwind in the comfortable rooms and suites, of various categories, from standard to executive suites, all equipped in accordance with European standards.
There is also a large outdoor heated pool, a furnished terrace, a spacious lobby and an exclusive restaurant with a signature menu from renowned chef Andrey Ivanov. The hotel offers breathtaking mountain views, creating an unforgettable experience.
For those who prefer a more private vacation, there are separate cottages with two bathrooms, a sauna, a kitchen and a private terrace. For younger guests, a children’s playground has been created on site, promising unforgettable impressions and joy of games.
Club Hotel Yaremche is a combination of traditional mountain hospitality and modern comfort, a place you will definitely love.
Address: Yaremche, 6 Petrash St.
Website: https://yaremche-club-hotel.com/
Third place: Verkhovyna Medical & Wellness Resort
Verkhovyna Medical &Wellness Resort is a harmonious symphony of style and comfort, embodied in three buildings with exceptional architectural design, both inside and out. There are 77 large rooms on the territory, which have been carefully prepared to provide maximum comfort during the period of rest and recreation.
Regardless of the time of year, guests have the opportunity to move between the buildings through stylish glass passages with air conditioning. This makes it possible to visit the spa, undergo medical procedures or swim in the pool directly from the room.
Verkhovyna Resort also features a prestigious congress center with advanced technologies for business events of any format. The restaurant service offers guests a wide range of choices from traditional dishes to exquisite gourmet cuisine.
For guests’ entertainment there is an entertainment center with bowling and billiards, phytobars, a tasting room, and comfortable lounge areas. All this is combined with the natural environment and maximum comfort of all the benefits of civilization, while being in close proximity to the regional center.
“Verkhovyna” is surrounded by a forest at the top of the mountain, on its own fenced territory. The resort’s core is an advanced health rehabilitation center equipped with the latest medical equipment and an individual approach to treatment programs. Visitors also have access to an aesthetic and anti-aging medicine center.
The spa facilities include a hammam, a classic bath, a Finnish sauna, a Thai herbal sauna, a salt room, a snow room, a contrast shower, a whirlpool and a spinal stretching pool.
“Verkhovyna also offers a variety of balneological treatments and programs to restore energy, improve well-being, relaxation and recreation. A pool palace with indoor and outdoor swimming pools, a fitness center, and a panoramic sun terrace complete the uniqueness of this resort.
In addition, guests can enjoy the crystal clear mountain and mineral water, the sources of which are located nearby.
Address: 100 Uzhanska Street, Kamianytsia village, Uzhanska Street, Uzhhorod district, Zakarpattia region.
Website: https://verkhovyna-resort.com/
Second place: Derenivska Kupil Resort
Located in the scenic foothills of the Carpathians, this unique resort offers you health from the Derenivka spring, whose water has been famous throughout Europe for four centuries.
Noblemen, voivodes, traders, and artists used to come to Derenivka to taste the healing water from the baths, which was believed to restore not only health and energy, but also to give youth.
Today’s Derenivska Kupil has exploded with new life, offering hotels, restaurants, SPA-zones, places for active recreation, business spaces, and places for art. Additionally, you will find a botanical garden and a unique sculpture park within its foreseeable area.
The accommodation facilities include the Iris Hotel, the Apartment Hotel and the SPA Hotel. Thanks to the silicon water of Derenivska Kupil, modern technologies, and cosmetic products of well-known European brands, Iris offers a unique set of health and body and face care procedures. In the Silver Therms SPA complex you will find everything for wellness, including a Roman steam room, a Transcarpathian bath, a Finnish sauna, balneological and massage rooms, a contrasting foot bath, an ice fountain, a tropical shower, and a relaxation area overlooking the botanical garden.
The Salamander restaurant offers exquisite cuisine with an author’s vision, the Iris restaurant is a fresh and innovative vision of gastronomic traditions, and the Salamander Cafe is a cozy place to enjoy delicious food on the territory of the SPA center.
The resort also has conference rooms, places for corporate recreation, bowling, billiards, karaoke, a relaxation area and a golf club. “Derenivska Kupil is the only complex in Ukraine that has received a certificate from the European Resort Association.
Address: Ukraine, Transcarpathian region, Nizhne Solotvyno, 150.
Website: https://derenivska-kupil.ua
Renaissance Billiard & Lounge Bar is located in the business center of the hotel, on the second floor. Renaissance Billiard & Lounge Bar perfectly combines comfort, classic elegance of style and a refined atmosphere of prestige.
Fito Bar is a corner of relaxation and health, located on the first floor of the balneological department and in the hotel’s SPA center, near the swimming pools and saunas. Here you can relax and rejuvenate. You can choose from freshly squeezed juices, smoothies, fruit, tea, oxygen cocktails and cocktails made from spirulina or sprouted wheat. Sports nutrition is also available.
“Med Palace is a medical and diagnostic rehabilitation center that is one of the most modern medical centers in Western Ukraine. Highly qualified specialists use resort resources and the latest achievements of world medicine in the treatment process.
DoReMINI is a playroom that is a favorite place for our youngest guests from 0 to 4 years old. Children will be delighted with a variety of games and activities in the pools with balls, slides, mysterious tunnels and stairs, climbing walls and lots of toys. Kids can be in this room only under parental supervision.
For corporate clients, the complex offers an effective combination of high-quality conferences, corporate events, business meetings and seminars with a unique vacation in Truskavets.
Address: 1 Kobzar Square, Truskavets, Lviv region, Ukraine.
Website: https://mirotel.ua/
All of the hotels listed above are distinguished by their unique style, impeccable service, and exciting atmosphere. These are the places where you can conquer the mountain peaks during the day and relax in the evening in comfortable conditions, enjoying luxurious SPA treatments or a delicious dinner. After visiting the best hotels in the Carpathians, you will realize that they deservedly occupy a place among the best places to relax in Ukraine.
The role of state-owned companies significantly increased during the war, and it will remain key in postwar recovery as well, Deputy Economy Minister Oleksiy Sobolev said at a roundtable discussion on “The Role of State-Owned Enterprises in Postwar Recovery,” which was held the other day with support from USAID’s State-Owned Enterprise Reform Support Activities in Ukraine (SOERA) project.
“During the discussion, participants repeatedly noted that the role of Ukrainian state-owned enterprises increased significantly during the full-scale Russian invasion, as well as their significant contribution to the post-war reconstruction process. At the same time, the need to create conditions for involving the private sector in the reconstruction was also emphasized,” the press release from the discussion reads.
USAID Ukraine Senior Project Management Specialist Andriy Nesterenko noted that Ukraine has more than 3,200 state-owned and more than 14,000 municipal enterprises. In his opinion, once the war is over and economic recovery begins, state-owned companies will be the first to contribute to the recovery, and private business is sure to follow.
Sobolev said that the Economy Ministry has developed a list of enterprises that should remain in state ownership, but some of them may be partially privatized.
“Some enterprises played an important role during the war and will play a key role in Ukraine’s post-war economic recovery, so the government is considering only partial privatization of them, in particular through IPO, in order to attract investments,” the deputy minister was quoted as saying in a press release.
He also announced that the government had prepared a four-year plan for 2024-2027, which will be submitted to the European Commission for the development of a large-scale assistance program for Ukraine. The plan contains a section on state assets and issues of corporate governance and privatization, the deputy minister specified.
Gabriela Miranda, responsible manager for Ukraine at the OECD’s Global Relations Secretariat, said the OECD’s support for Ukraine in its efforts to recover from the war is formalized in a four-year programme to support reform and reconstruction under the partnership agreement that Ukraine concluded with the OECD on 7 June 2023. Under it, Miranda said, the OECD will work with the government to continue reforming state-owned enterprises, privatization, developing financial markets and fighting corruption.
The head of the State Agency for Infrastructure Rehabilitation and Development of Ukraine, Mustafa Nayem, predicted that during the recovery period the volume of public procurement will grow significantly, but it is necessary to change the perception of the state as a risky customer so that private companies are not afraid to participate in tenders.
Igor Smelyansky, CEO of state-owned Ukrposhta, who also participated in the roundtable, described how the company is actively working on digitalization and logistics development to make its services accessible and efficient for all communities, particularly those affected by Russian aggression. He reiterated the importance of Ukrposhta obtaining the right to provide banking services, as for almost a third of Ukrainians they are currently unavailable.
Smelyansky also pointed out the need for international partners to adapt procedures in order to speed up the provision of urgently needed aid to Ukraine.
At the end of the roundtable, John Tokolish, deputy director of the State-Owned Enterprise Reform Activities in Ukraine (SOERA) project, offered the program’s assistance in various areas of state and municipal enterprises, and promised continued support for reforms by the SOERA project.
It is specified that the event was attended by about 100 experts and specialists from different spheres of activity, mainly C-level managers (CEOs, owners, chiefs of staff), representatives of international organizations (OECD, EBRD, IFC, IMF), international partners (EU Delegation and European Commission), members of supervisory boards of state-owned enterprises, as well as partners from private companies.
On Friday, July 31, the conference hall of the Kyiv-based think tank Experts Club hosted the fourth scientific and practical seminar-tasting of vintage drinks for people aged 20 to 80. The event was attended by Ukrainian and international wine experts, retailers and media representatives. Ricardo Nuñez, one of the world’s leading winemakers and an investor in the Ukrainian wine industry, was the guest of honor.
Igor Magalyas, a leading expert collector of vintage alcoholic beverages, introduced the participants to his collection, which includes the most popular Ukrainian and European brands of wines and brandies, including:
1. Italian wine Muscat, produced in 1999, which has a unique bouquet, characterized by luxury and depth.
2. Black Doctor 2005 – a wine with a wonderful multi-component aroma, which harmoniously combines the tones of dark grapes.
3. Massandra sherry made in 1983 is a unique wine from the Crimea, famous for its palette of aromas and flavors.
4. Sicilian semi-dry Marsala of the 1990s – this drink gives off a feeling of rich flavor, complemented by notes of cherry, fruit and vanilla. Marsala is considered one of the most famous Italian wines and is a symbol of Sicilian winemaking.
5. Green apple liqueur from the 1970s – this drink is attractive for its fresh and fruity aroma, with a balance of acid and sweetness. Its unique flavor evokes memories of summer, green apples and outdoor picnics.
6. Apricot liqueur of the 1980s is a sweet, but not over-colored drink that explodes with natural apricot flavors.
7. Poncho 1974 is a citrus alcoholic beverage with a unique flavor bouquet that combines the acidity of lemon, orange and grapefruit with light notes of spices. Made according to a traditional recipe, Poncho is a classic of cocktail culture.
8. Bobadilla 103 Sherry Brandy 1977 – with an unsurpassed bouquet of vanilla, caramel and nuts, this brandy is a model of sherry style. It has a balance between sweet and dry, with a rich and intense flavor.
9. Terry Centenario Sherry Brandy 1975 is a perfect representative of Spanish sherry, known for its deep aroma, with notes of nuts, fruits and spices. Its rich, delicious flavor and long aftertaste are the unique features of this exceptional drink.
10. Sherry brandy from the 1950s is a true relic of the past, with a rich and intense flavor that includes notes of caramel, nuts and dried fruit. This old sherry brandy is a reminder of the long and glorious history of winemaking in Spain.
The most intriguing part of the tasting was the rare dessert drinks, which are a real “living museum” of the alcohol industry of the 1970s. These are four special drinks: grapes, cherries, plums and raisins infused in different types of brandy and liqueurs. Among them, the Muscat raisin grappa was especially appreciated by experts, as it is distinguished by its unique bouquet.
High-quality gastronomic pairings for the drinks presented during the tasting program were provided by one of the best Ukrainian meat producers, Karapyshivski Kovbasy, a trademark of the company.
Igor Magalyas noted that all the presented drinks are in an affordable price segment, and their cost does not exceed the cost of modern vintage alcohol in Ukrainian supermarkets.
“These drinks were purchased by collectors in Europe at auctions or sales of private collections. They have a number of flavor and quality advantages over modern drinks,” he said.
Maxim Urakin, the event’s organizer, emphasized the importance of systemic support for Ukrainian winemaking.
“Long-standing Ukrainian-made beverages have traditionally been at the top of our experts’ preferences. However, without new systemic efforts by the government to support the industry, the situation will deteriorate. That’s why the Club of Experts analyzes the situation and provides its proposals in this regard,” emphasized Maxim Urakin.
ALCOHOL, CLUB_OF_EXPERTS, EUROPEAN_WINE, KOROPYSHIVSKI_SAUSAGES, MAGALIES, RICARDO_NUNEZ, SEMINAR, TASTING, UKRAINIAN_WINE, URAKIN, WINE, WINE_INDUSTRY, WINEMAKING
The State Service of Ukraine for Transport Safety (“Ukrtransbezopasnost”) has extended for a month – until August 31 the deadline for making changes in the environmental class of passenger buses, in the information of which is not specified class of environmental friendliness or specified environmental class “EURO-1”, the press service of the agency said on Monday.
“From September 1, if the passenger bus does not specify the class of environmental friendliness or specified environmental class “EURO-1”, to apply for crossing the border “18-60″ will become impossible”, – stressed in “Ukrtransbezopasnost”.
Environmental standard (or class) is the only established for all cars the norm of substances dangerous to the environment contained in the exhaust gases of vehicles.
To date, the newest class is “EURO-6”.
Deputy Energy Minister of Ukraine Yaroslav Demchenkov and State Secretary of the Ministry of Economy of Slovakia Peter Shvets discussed the possibilities of expanding the activity of Slovak business in the Transcarpathian region, in particular, in the area of expanding the potential of wind generation.
“There is a strong export-import potential between our countries, we are working on expanding energy corridors and creating infrastructure projects of common interest, both in the electricity and gas sectors, including renewable gases,” Demchenkov said during the meeting, as quoted by the Energy Ministry on Monday.
According to the ministry, more than 200 companies from other regions of the country have relocated to Transcarpathia since the start of the Russian occupiers’ full-scale invasion of Ukraine, causing the region’s electricity consumption to rise.
“So, it is necessary to focus on additional capacity, creation of balancing systems, strengthening of grids, implementation of new infrastructure projects, as well as development of production of equipment necessary to accelerate the green transition,” the ministry emphasized.
As noted in the Ministry of Energy, recently in one of the communities of Zakarpattia region held public hearings, where the idea of creating a wind park to cover its own demand and export electricity was positively received.
“The potential of bioenergy is also being studied,” the ministry added.
