Glass packaging manufacturer “Verallia Ukraine” (village Zarya, Rivne region), a subsidiary of French Verallia, in January-March this year received a net profit of 91.06 million UAH against a loss of 84.64 million UAH for the same period in 2022.
According to the company’s quarterly report released Tuesday in the National Securities and Stock Market Commission’s (NSSMC) information disclosure system, the company’s net income rose 46.5 percent to UAH 636.04 million.
“During the first quarter of 2023, Verallia Ukraine continued its core business despite the martial law, mobilization of a significant number of employees and active hostilities in the country, and did not lose its position in the glassware market in Ukraine. In particular, in the first quarter it began to gradually increase the number of products manufactured,” the company noted.
According to the report, the gross profit of the company for the specified reporting period amounted to 201.7 million UAH against a loss of 42.61 million UAH in the first quarter of 2022, while operating profit was 164.31 million UAH (a loss of 67.81 million UAH).
PJSC “Verallia Ukraine” produces glass containers for alcoholic beverages and food, the company employs over 480 people.
The immediate parent company is German Verallia Deutschland, while the actual control is exercised by Verallia Packading.
According to the company’s website, in early April of this year, thanks to partners and the Verallia Group, it restarted a furnace that had been in continuous operation since 2016, but was controlled shut down in February 2022 with the start of a full-scale war.
“After the refurbishment of the glass shop, production was started with orders for key customers such as Nemiroff, Bayadera and Lutskfoods. We see that the Ukrainian market began to recover, and our partners are in urgent need of high-quality glass, so we restore production of the Selective Line premium line and positions of larger sizes, up to 1.75 liters,” – noted in a statement on the website.
According to Verallia Ukraine’s annual report on the company’s website, last year it posted a loss of UAH 37.21 million against a net profit of UAH 19.13 million a year earlier, with net income up 16% to UAH 2 billion.
Verallia Group, according to its website, is a European leader and the world’s third largest producer of glass packaging for beverages and food. It has 34 glass factories, five plants for the production of décor and 12 centers for processing of glass cullet (glass products) in 12 countries, annually produces 17 billion glass bottles and cans for delivery to 10 thousand companies – from local family-owned manufacturers to large international brands.
The Victory Harvest Charitable Foundation will receive 10 combine harvesters and five John Deere brand tractors from the foundation of American philanthropist Howard G. Buffett, which will be transferred exclusively for use by Kherson farmers for harvesting and during the next sowing season, the Foundation’s press service has reported.
“Russia’s war against Ukraine has become especially devastating for the people of Kherson region. The flooding of lands caused by the destruction of the Kakhovka dam has now been added to the constant shelling. Our foundation aims to extend support to farmers with these special harvesters and is also working to accelerate demining in the region,” the press service quoted the words of Buffett at a meeting with the head of the Kherson Regional Military Administration during a visit to Kherson region.
The donated John Deere equipment includes five S770 combines, five S760 combines and five 8430 tractors and has an estimated commercial value of more than $5 million.
The Howard G.Buffett Foundation also donated two DOK-ING minesweepers, along with metal detectors, vehicles and other demining equipment, to the State Emergency Service of Ukraine. Thanks to this equipment, more than 20 hectares of land in Kherson region have already been cleared and more than 72 explosive items objects have been removed.
This donation to the Foundation is the addition to agricultural equipment previously donated to the Victory Harvest Foundation with a total value of more than $27 million.
Energy imports to Ukraine in 2021-2022
Source: Open4Business.com.ua and experts.news
“Ukrzaliznytsia” has significantly reduced the cost of transportation of grain cargo by rail (by reducing the wagon component of the tariff), and also fixed the average speed of cars for the quarter until September 1, 2023, said Valery Tkachev, deputy director of the department of commercial work UZ.
“From July 1, 2023, the cost of using Ukrzaliznytsia JSC grain railcars is 300 UAH/day without VAT,” he wrote on Facebook.
According to the updated tariffs UZ, the cost of transporting 1 ton of grain by rail is 9.4 $ / ton and 11.4-11.9 $ / ton for a distance of 300 km in the export direction through seaports and dry crossings, respectively, at a distance of 400 km – 11.7 $ / ton and 13.7-14.3 $ / ton; 500 km – 13.4 $ / ton and 15.4-16.3 $ / ton; 600 km – 15 $ / ton and 17.2-18.2 $ / ton.
In particular the cost of transportation takes into account the additional charges at the station of departure (2500 UAH/ton), the two days of use of the car during loading/unloading, freight charges, the return of empty wagons, and other indicators.
The UZ Board will also fix the average speed of movement of cars until September 1, 2023 (per quarter) for the predictability of the work of consignors with the rolling stock UZ.
Previously, average railcar speeds changed monthly and were announced on the 28th.
“This will allow shippers to better plan their work in the cars of Ukrzaliznytsia, as well as accurately calculate the cost of transportation,” – summarized Tkachev and urged shippers of grain cargo to actively use the rolling stock UZ for transportation of grain.
June 23 the Rating Committee of National Rating Agency “Rurik” has withdrawn the ratings of PrJSC IC “Grandvis” (Chernihiv), according to the website of RA.
The report explains that the rating is withdrawn due to the fact that the borrower fails to provide the necessary information to update the rating or for other reasons.
As earlier reported, on March 7, 2023 RA “Rurik” has confirmed a long-term credit rating of the borrower at the level uaAА of investment category with the “in development” outlook.
Analyzing the results of the company’s activity in 2022, the agency considered as positive the high indices of the company’s liquidity. Thus, the ratio of quick liquidity as of January 1, 2023 amounted to 952% while the recommended 60%. Also the RA noted a high margin of solvency of asset quality, a sufficient level of financial autonomy of the insurer, since the coverage level of assets and insurance reserves by shareholders’ equity amounted to 85% and 1109%, respectively.
The negative factors include low diversification of the company’s insurance portfolio by types of insurance. According to the results of 2022 three largest types of insurance corresponded to 81% of insurance payments, which, as stated, indicates a high dependence of the company on the key areas of insurance activity, its significant costs, given a high specific weight of administrative expenses.
IC Grandvis has been working in insurance market since 1995. It specializes on risk kinds of insurance.
The authorized capital of the company is UAH 14,3 m.
