The owners of the well-known in the Odessa region “Champagne Ukraine” LLC Vasyl Bratinov and his father Ignat declared their intention to purchase 91.27% of the shares in Odessavinprom PJSC, the main owners of which are the Gulievs family.
According to the information in the disclosure system of the National Commission for Securities and Stock Market, currently there are no shares of “Odessavinprom” in the ownership of the Bratynovs.
Odessavinprom (Odessa) in its turn announced that this year on April 28 it will hold a remote annual meeting, the agenda of which apart from the traditional issues included questions about the early re-election of the Supervisory Board and the Auditor.
According to the announcement of the meeting, Odessavinprom in 2022 reduced its net loss by 1.7 times compared to the previous year – to 18.26 million UAH, resulting in an uncovered loss of 128.33 million UAH.
According to preliminary financial statements, last year the company decreased total receivables by 36.1% to UAH 64.13 million, current liabilities – 2.7 times, to UAH 105.68 million, getting rid of long-term liabilities by UAH 15.3 million.
As a whole the assets of Odesvynprom by the end of 2022 decreased by 13.1% and amounted to UAH 194.45 mln. The cost of fixed assets at residual value made UAH 27,47 mln. at the end of the last year. The company slightly increased its stock to UAH 69.76 mln and had only UAH 0.35 mln of free cash, compared to UAH 3.33 mln a year before.
According to the disclosure system of the National Commission on Securities and Stock Market, the shareholders of Odessavinprom at the end of 2022 were Shota Guliev with 24.86% of shares, Robert Guliev – 19.09%, Diana Guliev – 14.9%, Karen Guliev – 14.9% and Vladimir Maslenikov – 12.8%.
According to opendatabot, the Bratinovs also own the farm “Kulevcha” which specializes in the cultivation of cereals, industrial crops and grapes, “Dnistro-Hybrid” LLC, “Unity of Nations” SVK and a number of other agrarian enterprises.
Last year, according to opendatabot, “Champagne Ukraine” decreased revenues by 42.8% – to 73.7 million UAH, and net profit – in 5.6 times, to 7.28 million UAH. Odessavinprom had revenues of 137.06m hryvnias last year.
A new video has been released on the YouTube channel of the Club of Experts, in which the Kyiv-based think tank Club of Experts and the Ukrainian Exporters Club presented a joint study on the main risks facing Ukrainian companies in exporting goods in 2023.
Yevheniia Lytvynova, President of the Ukrainian Exporters Club, emphasized that exporters should consider five key risks for their business: currency risk, payment risk, production risk, transportation risk, and bureaucratic risk.
“Understanding these risks is critical for successful exports, especially in the current geopolitical situation, exporters should consider these risks and plan at least 3 months in advance when cooperating with foreign companies,” Lytvynova said.
The experts also reviewed the state of Ukrainian exports in recent years.
“Over the past year, the situation in Ukrainian exports has undergone significant changes. Poland, Romania, and Turkey have become Ukraine’s main trading partners,” explained Maksym Urakin, founder of the Club of Experts.
He added that in 2022, Ukraine exported goods worth $44 billion, which is 35% less than in the previous year. The main profit in the global market came from the export of grains and vegetable oils, although exports of metallurgical products declined.
The Club of Experts and the Club of Exporters also emphasized the importance of supporting Ukrainian exporters in the current global market environment.
“We recommend Ukrainian exporters to contact our clubs with questions about certification, access to foreign markets and opening production facilities abroad. We are always ready to help and advise,” emphasized Yevgeniya Litvinova.
She urged Ukrainian companies to be active in the global market.
“We want Ukrainian companies to maintain competitive prices for their goods while working with foreign partners. Do not hesitate to contact us with any questions related to exports,” added Ms. Litvinova.
Yevheniya Lytvynova urged Ukrainian companies not to lose hope and to actively develop their capabilities.
“Ukrainian exports have great potential, and we believe that cooperation with the Club of Experts and the Club of Exporters will help companies realize it,” she said.
In conclusion, the speakers noted that they plan to devote the next session to imports and import-related risks. They called on all stakeholders to join the discussion and explore new opportunities for the development of export-import business in Ukraine.
The experts also emphasized that in order to enter new export markets and verify counterparties around the world, we suggest that Ukrainian exporters consider products and solutions from Dun & Bradstreet, the world leader in the market of information on legal entities.
Watch the full video here:
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CLUB_OF_EXPERTS, CLUB_OF_EXPORTERS, EXPORT, EXPORT RISKS, IMPORT, INCOTERMS
All-Ukrainian Association of Winemakers and Sommeliers in partnership with the Ukrainian Cavist Association and the Master Class Sommelier School recently held the long-awaited All-Ukrainian Tasting Competition. The competition is aimed at highlighting the influence of terroir on Ukrainian wines, identifying the best wines and distillates in various categories through professional blind tasting, and emphasizing the importance of micro winemaking in Ukraine.
According to Natalia Blagopolyunova, President of the All-Ukrainian Association of Winemakers and Sommeliers, after a break in 2022, the competition returned with an additional nomination for Distillates, which was applied for by winemakers from all over the country.
“We did not hold the competition last year, although everything was planned. This year, we decided to try it, made an announcement a month in advance, and applications came in immediately. In addition, we added another nomination, Distillates, at the request of the participants,” she emphasized.
In total, the event was attended by 30 winemakers from 13 regions, including several newcomers who took part in the competition for the first time. A total of 114 samples of wines and spirits were presented and judged in 13 categories.
Valeriy Narovylo became the outstanding winemaker of the competition, receiving three gold medals and a red blend that won the Grand Prix. His wine received the maximum score of 100 points from the jury chairman Ricardo Nunez and was recognized as worthy of competing with famous European samples. This year’s competition also recognized the high quality of the distillates presented, with the Grand Prix in this category going to the grape muscat of TM Slavia.
The professional jury, headed by Ricardo Nunez, President of the international wine holding Vinos de la Luz, evaluated the samples on a point system, and gold, silver and bronze medals were awarded according to the points received. The jury consisted of experts from various fields of the wine industry, including sommeliers, winemakers, cavists and industry observers.
The competition also featured several categories, including sparkling wines, best riesling, best chardonnay, white local varieties, orange wines, rosé wines, best pinot noir, best merlot, best cabernet sauvignon, red local varieties, red blend, dessert wines and distillates. The winners in each category were determined based on the jury’s scores.
Among the outstanding winners are “Sparkling Rose, 2021” by TM “Moye Vino” (Eduard Gorodetsky) in the category “Sparkling Wines”, “Riesling, 2021” by Volodymyr Simakin in the category “Best Riesling” and “Chardonnay, 2022” by TM “Babchuk Winery” in the category “Best Chardonnay”. In the Best Merlot category, the gold medal was awarded to Merlot, 2020 by NAROVYLO WINERY. In the Red Blend category, the gold medal and the Grand Prix of the competition went to CS/CF/Merlot, 2020 by NAROVYLO WINERY, which received an excellent rating from the chairman of the jury, Ricardo Nunez.
The unique format of the competition, which focuses on the evaluation of wines and distillates from small producers (craft production), allowed participants to communicate with industry professionals and become members of the jury themselves. This year’s competition demonstrated the exceptional quality of Ukrainian craft wines and distillates and emphasized the importance of micro winemaking in the country’s future.
The winners of the competition will have the opportunity to present their wines and distillates at the VIII International Forum of Winemakers and Sommeliers, which will be held in November 2023 at the InterContinental Hotel in Kyiv. The All-Ukrainian Association of Winemakers and Sommeliers expresses its gratitude to all participants, jury members and the Armed Forces of Ukraine for their assistance in holding the event.
Organizers of the competition:
Ukrainian Association of Winemakers and Sommeliers
Association of cavists of Ukraine
The first in Ukraine Sommelier School “Master Class”
Media partners:
Interfax-Ukraine news agency;
Kyiv Analytical Center “Experts Club”;
Open4business portal.
Professional jury of the Competition:
Ricardo Nunez – Chairman of the Jury, President of the International Wine Holding “Vinos de la Luz”;
Natalia Blagopoluchna – Secretary of the Jury, President of the All-Ukrainian Association of Winemakers and Sommeliers;
Natalia Burlachenko, CEO of Big Wine- Big Art;
Oleg Kravchenko – “Best Sommelier of Ukraine 2011”, co-owner and chef-sommelier of the wine bar “Win bar”;
Yegor Belov – “Ukrainian Sommelier – 2018”, chef de cuisine at the Inercontinental Hotel;
Olga Girman – Ukrainian Sommelier 2021, founder of the Wine Evenings project;
Bohdan Dukal – “Best cavist of Ukraine – 2019”, director of 2 wine boutiques “Winetime”;
Yaroslav Panchuk – “The Best Caviarist of Ukraine – 2021”, caviarist at Bad Boy wine boutique;
Oleksii Bondar – “Best Caviarist of Ukraine – 2020”, manager of TS+;
Oleksandr Kovach – President of the Transcarpathian Winemakers Association, winemaker;
Yevheniia Pustovit, winemaker at Chateau Pinot and 46 Parallel;
Olga Pinevych-Todoriuk – Editor-in-Chief of Drinks+ magazine, observer from the General Information Partner.
The jury was assessed according to the following criteria:
Gold medal – 91-100 points;
Silver medal – 86-90 points;
Bronze medal – 81-85 points.
The full list of winners is available here:
1. Nomination “Sparkling wines”.
“Sparkling pink, 2021”, TM “My Wine”, Eduard Gorodetsky – gold medal;
“Sparkling pink, 2019”, TM “46 Parallel” – silver medal;
“Petnat Irshai Olever, 2021”, TM “Kovacs Wine” – bronze medal.
2. Best Riesling nomination.
“Riesling, 2021, Volodymyr Simakin – gold medal;
“Riesling, 2022”, TM “Babchuk Winery” – silver medal;
“Riesling, 2017, TM Vinaria – bronze medal.
3. Best Chardonnay nomination.
1. “Chardonnay, 2022”, TM “Babchuk Winery” – gold medal;
2. “Chardonnay, 2020”, TM “Mon Crafto” – silver medal;
3. “Chardonnay, 2021”, TM “Dukat-Agro – bronze medal.
4. Nomination “White local variety.
1.” Zagrej, 2022″, National Scientific Center “Institute of Viticulture and Winemaking named after V.E. Tairov – gold medal;
2. “Aligote, 2020”, TM “Wine Valley” – silver medal.
3. “Solaris, 2022”, Georgiy Samsoniuk – bronze medal.
5. Orange wines nomination.
1. “Orange, 2021”, TM “Kovacs Wines” – gold medal;
2. “Telti-Kuruk, 2022”, TM “Ofiussa Winery” – silver medal;
3. “Rkatsiteli, 2020”, TM “Driukivski Wines” – bronze medal.
6. Nomination “Pink wines”.
“Pinot Noir, 2021, TM “My Wine”, Eduard Gorodetsky – gold medal;
“Pinot Noir, 2021, TM Chateau Pinot – silver medal;
“Cabernet Sauvignon, 2022, TM Babchuk Winery – bronze medal.
7. Best Pinot Noir nomination.
1. “Pinot Noir, 2020”, TM “46 Parallel” – gold medal;
2. “Pinot Noir, 2020”, TM “Sergius Vinum” – silver medal;
3. “Pinot Noir, 2020”, Georgiy Samsoniuk – bronze medal.
8. Best Merlot nomination.
1. “Merlot, 2020”, TM “NAROVYLO WINERY” – gold medal;
2. “Merlot, 2020”, TM “Slavia” – silver medal;
3. “Merlot, 2021”, TM “My Wine”, Eduard Gorodetsky – bronze medal.
9. Best Cabernet Sauvignon nomination.
1. “Cabernet Sauvignon, 2021”, TM “Mon Crafto” – gold medal;
2. “Cabernet Sauvignon, 2021”, TM “My Wine”, Eduard Gorodetsky – silver medal;
3. “Cabernet Sauvignon, 2019”, TM “SHERWOOD WINERY” – bronze medal
10. Nomination “Red local variety”.
1. “Aliberne, 2020”, TM “NAROVYLO WINERY” – gold medal;
2. “Zweigelt, 2019”, TM “Vina Kovacha” – silver medal;
3. “Odesa Black, 2018”, TM “Babchuk Winery” – bronze medal.
11. Red Blend nomination.
1. “KC/KF/Merlot, 2020”, TM “NAROVYLO WINERY” – gold medal, Grand Prix of the Competition (the best wine of the Competition), 100 points from the Chairman of the Jury Ricardo Nunez!
2. “Grand Admiral, 2018”, TM “46 Parallel” – silver medal;
3. “COP/CF, 2020”, TM “Vinaria” – bronze medal.
12. Nomination “Dessert wines”.
1. “Muscat of the Carpathians, 2014”, TM “Kovach’s Wines” – gold medal;
2. “Black Pearl, 2017”, TM “Kovacs Wines” – silver medal;
3. “White dessert vermouth”, TM “Winemaker Vinokur” – bronze medal.
13. Nomination “Distillates”.
1. “Grappa Muscat, 2019, 40%”, TM “Slavia” – gold medal, Grand Prix of the Competition (the best distillate of the Competition);
2. “Chacha Odesa Black, 2022, 42%”, TM “Winemaker Vinokur” – silver medal;
3. “Chacha Sauvignon Blanc, 10 years, 44%”, TM “Vinaria” – silver medal;
4. “Brandy, 2015, 42%”, TM “Vina Kovacha” – silver medal;
5. “Honey casserole, 40%”, TM “Winemaker Vinokur” – silver medal;
6. “Chacha Sauvignon Blanc, 2019, 41%”, TM “Vinaria” – silver medal;
7. “Apple, 42%”, TM “KALYUS WINERY” – silver medal;
8. “Calvados, 42%”, Ivan Gorobets – silver medal.
ALL-UKRAINIAN_ASSOCIATION_OF_WINEMAKERS_AND_SOMMELIERS, CLUB_OF_EXPERTS, COMPETITION, NATALIA_BLAGOPOLUCHNA, RICARDO_NUNEZ, SOMMELIER, WINE, WINEMAKING
The board of directors of the International Monetary Fund (IMF) on Friday approved a four-year, SDR11.6 billion ($15.6 billion) extended EFF program as part of a total support package for Ukraine of $115 billion, the Fund said in a statement.
“The Ukraine program (for 2023-2027), supported by the EFF, aims to anchor policies to maintain fiscal, external, price and financial stability and support economic recovery, while improving governance and strengthening institutions to promote long-term growth in the context of post-war recovery and Ukraine’s path to the EU,” the IMF said.
The Fund specified that the decision of the board of directors allows for immediate disbursement of about SDR2 billion (or $2.7 billion).
IMF mission chief Gavin Gray clarified to reporters that the first review of the program is expected in June-July this year, the second by the end of October, possibly in early November, and from 2024 will be quarterly.
According to the release, EFF approval is expected to attract large-scale concessional financing from international donors and Ukraine’s partners to help resolve Ukraine’s balance of payments problem, achieve medium-term external viability and restore debt sustainability on a prospective basis in both baseline and negative scenarios.
The IMF notes that in view of the exceptionally high uncertainty faced by Ukraine, the EFF program envisages a two-stage approach. In the first phase of the program, scheduled for 2023-2024, the focus will be on three goals. These include, among others, strengthening the 2023 budget and supporting revenue mobilization, including by avoiding new measures that could undermine tax revenues.
In addition, it is about sustainable disinflation and exchange rate stability, including by maintaining sufficient foreign exchange reserves, and promoting long-term financial stability, including by preparing a more in-depth assessment of the banking sector and further strengthening the independence of the central bank.
“Independent and effective anti-corruption institutions will help reduce corruption risks during martial law and build public and donor confidence in future reconstruction,” the Fund adds.
He also noted that the first phase of the program will protect social spending.
“The second phase of the program will shift the focus to more ambitious structural reforms to strengthen macroeconomic stability, support early post-war recovery, and enhance resilience and higher long-term growth, including in the context of Ukraine’s EU accession goals,” the IMF pointed out.
According to the release, Ukraine is expected to return to its pre-war policy fundamentals, mainly a flexible exchange rate and inflation targeting, while improving productivity and competitiveness, strengthening institutions and addressing financial and energy sector vulnerabilities.
In addition, fiscal policy will focus on critical structural reforms to guarantee medium-term revenues by implementing a national revenue strategy, along with improving public financial management and introducing public investment management reforms to support postwar recovery.
“The risks to the EFF program are exceptionally high. The success of the program depends on the size, composition and timing of concessional external financing to help close the budget deficit and external financing and restore debt sustainability on a forward-looking basis under baseline and negative scenarios,” said First Deputy Managing Director Gita Gopinath.
IMF Chief of Mission Gavin Gray specified that besides $15.6 billion from the Fund, the support package implies $80 billion from multilateral and bilateral donors, of which $20 billion in grants and $60 billion in concessional loans, as well as another $20 billion in deferred external debt payments.
According to him, the baseline scenario assumes the completion (winding down) of the war in mid-2024, while the negative scenario – by the end of 2025 with an increase in financing needs up to $240 billion.
At the same time, the IMF representative stressed that the program provides additional guarantees from a number of shareholders of the Fund, as preferred creditors, in particular the G7 countries, Belgium, Lithuania, the Netherlands, Poland, Slovakia and Spain.
Ukrainian President Volodymyr Zelensky reported about the hour-long conversation with his French counterpart Emmanuel Macron.
“In an hour-long conversation with Emmanuel Macron we substantially and effectively discussed the defense cooperation between Ukraine and France. Informed in detail about the situation on the front. We dwelled on the further steps for the implementation of the Peace Formula. Coordinated actions in the context of the nearest international events”, – reported in Telegram channel Zelensky on Saturday.
The population of EU countries will decrease by 6% by 2100, the EU statistical service Eurostat predicts. From January 1, 2022 to January 1, 2100, the number of residents in the EU will decrease by 27.3 million, to 420 million. At the same time in 2022, the population began to recover after a decline associated with the coronavirus.
According to preliminary data, 451 million people lived in the EU on January 1, 2023, compared to 443.2 million in 2021. Eurostat attributes the increase to the mass influx of Ukrainian refugees.
The maximum population – 453 million people – is expected in 2026.
In 2022-2100, the proportion of residents aged 0 to 19 years will decrease from 20% to 18%, and from 20 to 64 years – from 59% to 50%. The shares of residents aged 65-79 and older will increase from 15% to 17% and from 6% to 15%, respectively.
Preliminary data of the census for 2021 indicate an increase of the population compared to 2011 in 16 EU countries and a decrease – in 9. The most significant increase for 10 years showed Luxembourg (26%), Malta (24%) and Sweden (10%), reduction – Bulgaria (11%), Croatia (10%), Latvia (9%) and Lithuania (8%).
The leaders in the number of inhabitants in 2021 were Germany (83.2 million), France (67.9 million), Italy (59 million), Spain (47.4 million) and Poland (37 million).
