In January-May 2023, Kohavynska Paper Factory (KPF, Lviv region), which produces hygienic paper products (TM “Kohavinka”), increased production volume by 32.4% compared to the same period in 2022 – up to UAH 466.35 million, according to statistics from “UkrPapir”.
According to statistical data provided by Association to Interfax-Ukraine, in physical terms the production of paper-base for sanitary products at the factory has increased by 4% to 17.42 thousand tons.
Including May, its output increased slightly to almost 3.6 thousand tons, compared to May 2022.
The output of toilet paper rolls over the five months increased by 3.3% up to 55.67 mln pieces, and the KBC remains the second largest producer after the Kiev KBC (99.3 mln pieces).
The Kokhavinsk Paper Mill, which has been in operation since 1939, produces base paper for sanitary and hygienic goods as well as toilet paper and paper towels.
The capacity of the paper machines is 19 thousand tons per year, the processing equipment is 90 million rolls per year.
The factory has hardly stopped production since the beginning of Russia’s full-scale aggression in Ukraine.
As reported, last year KBF produced 975.3 mln hryvnia – 44.8% more than a year earlier. Net profit decreased by 12.7% to UAH 52.4 mln, income increased by 46.5% to UAH 978.9 mln.
In January-May 2023, the volume of marketable products of Kyiv Cardboard and Paper Mill (Kyiv Pulp and Paper Mill, Obukhiv, Kyiv region), Ukraine’s industry leader in this indicator, amounted to UAH 3 billion 063 million, which is 16.2% more than in the same period of 2022.
According to statistics provided by UkrPapir Association to Interfax-Ukraine, the mill thus slowed down the growth rate of this indicator slightly compared to the same period last year (in January-March, the growth exceeded 27%, in January-April – 21.7%).
In physical terms, the plant increased production of corrugated boxes by 36.6% to 88.33 million square meters. Cardboard output increased by 20.6% to 69.6 thousand tons, driven by a 36.4% increase in containerboard output to 57.5 thousand tons, while boxboard output decreased by 22% to 12.1 thousand tons.
At the same time, the output of base paper for sanitary and hygiene products maintained a negative trend: in January-May it decreased by 29.6% to 17.55 thousand tons, while the production of toilet paper in rolls fell by 30% to 99.3 million units.
Despite the decline in toilet paper production, the plant maintains a strong leadership in its production in Ukraine. In total, over five months, the industry’s major companies produced 238.27 million rolls (down 8%).
As reported earlier, the plant noted that the market for sanitary products in Ukraine had shrunk by 18-35%, taking into account the overall state of the economy, population decline (in particular, due to those who left the country and the loss of consumers in the occupied territories).
According to the industry association’s data from the main industry enterprises, in January-May 2023, there was a 12% increase in paper and cardboard production (218.61 thousand tons) and a 21.4% increase in cardboard boxes (197.26 million square meters).
Kyiv Pulp and Paper Mill is one of Europe’s largest cardboard and paper production companies with a staff of more than 2,500 people.
As reported, in 2022, the mill produced UAH 7 billion 432 million worth of products, which is 3.5% less than in 2021.
Pulp Mill Holding (Austria) owns 100% of the shares of PJSC KKBK.
According to the mill’s announcement in the NSSMC’s information disclosure system, the shareholder’s decision on June 12 elected a new supervisory board – it was again headed by Timur Sokolov, and three more shareholder representatives were re-elected for a new term – Heinz Zinner, director of Pulp Mill Holding, Osman Ismet Mustekaplioglu, president of the board of the Turkish REİS Pazarlama Ve Ticaret, and Stefan Prodol, managing director of the German Jacob Jürgensen und Zellstoff.
Oleh Dubrovka was removed from the SB and replaced by Ivo Valchev, Sales Director of Austrian Andritz AG for Tissue and Board, who became Deputy Chairman of the SB.
In addition, Klaus Gissing, Director of the Austrian Tissue Innovation & Application Center, was appointed to the new Supervisory Board as an independent member.
The Vienna highest state court (Wiener Oberlandesgericht, OLG) decided on Friday to reconsider the extradition case against Dmytro Firtash to the US and return the case to the court of first instance.
“The February 2017 decision of the Vienna District Court (on Firtash’s extradition) has been reversed. Now the Vienna State Criminal Court (OG) will re-examine the question of the admissibility of extradition on the basis of new evidence,” the court said in a press release
The statement issued by Group DF, which unites the assets of the Ukrainian businessman, also said that the first instance court will consider the case based on new evidence and facts provided by the parties and that Firtash’s extradition is now stopped.
According to the lawyer of the Ukrainian businessman Dieter Böhmdorfer (Dieter Böhmdorfer), which are cited in the report, the defense has been seeking this decision since June 2019.
“Dmitry Firtash is grateful to the independent Austrian judicial system for the objective consideration of the case and quite logically – the appointment of a retrial on the basis of new facts and evidence provided to the court,” the lawyer pointed out.
The press service of Group DF and the lawyers would not comment on the details of the court battles and arguments to persuade the Austrian court to make an objective decision, the release said
As reported, the head of the Board of Group DF Firtash was arrested in Austria on March 12, 2014 at the request of the US authorities, issued in 2013, but then released on bail of EUR125 million. Under the US administration of Barack Obama, the Ukrainian businessman was accused that he wanted to obtain permits for titanium mining in India for the subsequent sale of finished products in the USA to Boeing with the help of bribes totaling $18.5 million. Firtash denies all accusations and calls them politically motivated, aimed at limiting his influence on the processes in Ukraine.
In April 2015, the OG rejected the request of the US Ministry of Justice for the extradition of Firtash, indicating that it is impossible to rule out political motives for the extradition request. However, in February 2017, the OLG reconsidered this decision on a complaint from the prosecutor’s office, and in June 2019, the Austrian Supreme Court (OGH) confirmed the legality of the extradition.
After that, the Austrian Ministry of Justice issued a corresponding ruling on extradition, but the process was suspended in July 2019 due to the Ukrainian businessman’s defense request to the OGH for a new review, taking into account additional data collected. According to Kurier, the OG decision was delayed due to the large number of documents submitted, communication problems due to the coronavirus and due to the change of judges.
In March 2022, Firtash’s lawyers reportedly filed an appeal with the OLG against the OG’s decision to reject the request for a retrial of the businessman’s extradition to the United States.
The Association of Gardeners of the Republic of Poland has appealed to the Minister of Agriculture Robert Telusz with a request to take urgent measures to stop the import of strawberries from Ukraine, to limit it and subsequently stop it completely, reported the Polish edition sad24.pl.
“In connection with the information that has appeared in recent days about the import of large quantities of industrial strawberries from Ukraine to Poland, we asked the Minister of Agriculture and Rural Development to intervene and take urgent measures to stop the possible practice and its reduction – permanently stopped,” the publication quoted the website of the Association.
Polish gardeners insist on preventing a situation on the market similar to that of Ukrainian grains, when uncontrolled imports collapsed the market and caused a huge drop in prices.
The Association of Polish Gardeners insists on the introduction of a system of official quality control of each batch of fruit arriving in the country, especially for residues of plant protection products, and to suspend further trade of goods until the results of the examination.
“Kernel, one of Ukraine’s largest agro-industrial groups, in the third quarter of fiscal year 2023 (FY, January-March 2023), earned $69 million in net profit, while it ended the same period last year with a net loss of $103 million.
According to a financial report on the company’s Web site, the agriholding’s revenue fell 51 percent to $825 million in the reporting period.
EBITDA for the third quarter of 2023FY was $155 million, compared to a negative $32 million in 2022FY.
Compared to the previous quarter, net income decreased by 67%, EBITDA – by 44%, and revenue – by 33%, Kernel said.
Agroholding attributed this decrease to a decrease in both volumes and prices.
The company added that the net change in fair value of biological assets resulted in a loss of $11 million in January-March 2023, compared to a loss of $74 million in the same period the previous year.
“Kernel also recognized a $20 million asset impairment loss in the third quarter of fiscal 2023.
It is specified that in the structure of EBITDA the segment of infrastructure and trade in the third quarter of FY 2023 decreased by 32% year-on-year to $71 million, but was higher by 15% quarter-on-quarter, which was facilitated by a high trade markup on grain of Ukrainian origin.
Due to a decrease in world prices for grains and oilseeds in January-March 2023, the agriculture segment posted a $24 million loss in the reporting period.
According to the report, Kernel managed to reduce its net debt to $833 million as of March 31 this year from $1.048 billion at the beginning of the year and $1.715 billion at the end of March last year.
At the same time, agricultural stocks decreased to $497 million from $593 million and $1.181 billion, respectively.
Overall, Kernel increased its net profit by 36% YoY to $437 mln and EBITDA by 11% while revenues decreased by 45% to $2.715 bln in 9M2003.
As reported, Kernel ended FY2022 with a net loss of $41 million compared to $506 million in net income in the previous fiscal year on revenue down 5% to $5.332 billion.
Benchmark crude oil prices are declining Friday morning after a significant increase a day earlier.
Traders are worried about the likelihood of further rate hikes by the Federal Reserve and the European Central Bank, which could have a negative impact on fuel demand.
Brent crude futures for August delivery on London’s ICE Futures Exchange stood at $75.49 per barrel as of 7:57 a.m., down $0.18 (0.2%) from the close of the previous session. Those contracts rose $2.47 (3.4%) to $75.67 a barrel on Thursday.
The price of WTI futures for July crude oil on the electronic trades of the New York Mercantile Exchange (NYMEX) fell on Friday morning by $0.16 (0.2%) to $70.46 per barrel. The contract value rose by $2.35 (3%) to $70.62 a barrel at the end of previous session.
The Fed’s management decided Wednesday not to change the prime rate range (5-5.25% per year), but signaled the likelihood of further increases this year to curb consumer price growth.
The ECB, as forecasted, raised all three key interest rates by 25 basis points at the end of Thursday’s meeting – to the highest levels in 22 years. At the same time, Bank President Christine Lagarde said that the set goals in the fight against inflation have not yet been achieved. According to her, the central bank is “very likely” to raise rates again in July.
