German media report about Ukrainian President Volodymyr Zelensky’s planned visit to Germany on 13-14 May, but there is no official confirmation from the Ukrainian side.
Thus, Bild reports that on May 14 Zelensky will be received by German Chancellor Olaf Scholz, the president of Ukraine will hold a meeting with German President Frank-Walter Steinmeier. In addition, Zelensky will visit Aachen, where he will be awarded the Charlemagne Prize.
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Kyivstar, Ukraine’s largest mobile operator, has extended for three years the terms of office of all seven members of its supervisory board, including former Naftogaz-Ukraine CEO Andriy Kobolyev, who is currently defending in court his legitimacy in receiving a large bonus from Naftogaz in a dispute with NABU and SAP.
According to the company’s statement on Wednesday, the relevant decision was approved by the shareholders’ meeting on April 28.
According to it, all members of the supervisory board are representatives of the company’s shareholder, VEON Holdings B.V.
In particular, the powers of Gennadiy Gazin, who chaired the Supervisory Board, as well as Dmytro Shymkiv, Mukhterem Kaan Terzioglu, Serkan Okandan, Matthew Paul Marie Galvani and Karen Marie Linehan were extended for three years.
“Kyivstar is the largest Ukrainian telecommunications operator. It provides communication and data transmission services based on a wide range of mobile and fixed technologies, including 4G.
Kyivstar’s shareholder is the international group VEON (formerly VimpelCom Ltd.). The group’s shares are listed on the NASDAQ Stock Exchange (New York).
Number of refugees from Ukraine in selected countries as of 30.03.2023
Source: Open4Business.com.ua and experts.news
Ukrainian President Volodymyr Zelensky has arrived in Finland on an official visit and to participate in the Nordic-Ukrainian summit, media reported.
The website of the President of the Republic of Finland notes that the official discussions between President Niiniste and President Zelenski “will include Ukraine’s defense fight and Finland’s support for Ukraine, bilateral relations between the two countries and the global geopolitical situation. At the conclusion of the discussions, the presidents will hold a joint press conference.” President Zelenski’s program also includes a meeting with Petteri Orpo, Speaker of the Finnish Parliament.
President Niiniste will reportedly hold a Nordic-Ukrainian summit in the afternoon, attended by Swedish Prime Minister Ulf Kristersson, Norwegian Prime Minister Jonas Gahr Støre, Danish Prime Minister Mette Frederiksen and Icelandic Prime Minister Katrin Jacobsdottir.
The summit will discuss Russia’s aggression against Ukraine, the Nordic countries’ continued support for Ukraine, the development of Ukraine’s relations with the EU and NATO, and Ukraine’s Just Peace Initiative. The official discussions will be followed by a joint press conference.
The Nordic prime ministers will also hold bilateral meetings with President Zelensky.
PJSC “Krukiv Wagon Works” (KWWZ, Poltava region) in 2022 received UAH 3 billion 307.5 million in net income from the sale of railway cars, which is 58% more than a year earlier.
According to the audited unconsolidated financial report of the company for 2022, which is available on its site, the net profit from the sale of freight cars rose by 16.8%, to UAH 1 bln 383 mln, while the net profit from the sale of passenger cars went up 2.1 times, to UAH 1 bln 925 mln.
The plant also received 100.68 mln UAH of net income from the sale of spare parts for wagons and other stock (12% less), but did not sell spare parts for special wheeled vehicles, from the sale of which it received 117.89 mln UAH of income in 2021.
In general, according to the report, the net profit of the company in 2022 increased by 38.4% – to UAH 3 545 mln, the net profit amounted to UAH 37.25 mln against a loss of UAH 230 mln a year earlier.
At that, almost 100% of sales went to Ukraine – 4.69 mln UAH were exported to European countries (in 2021 – 27 mln UAH), and 66.7 mln UAH were exported to Asian and Middle Eastern countries (in 2022 there were no such deliveries).
The report does not contain data on the number of railway cars produced and sold by the plant in 2022.
As reported, Ukrzaliznytsia signed a contract with KVSZ in 2021 for the supply of 100 new passenger cars for UAH 3.042 billion. In this case, 20 cars were delivered in 2021, another 65 – in 2022, and the remaining 15 – in 2023.
In turn, UZ earlier this year acknowledged accounts payable of UAH 1.4 billion to KVSZ for the 65 passenger cars delivered in 2022.
KVSZ held a remote general meeting of shareholders on April 11 this year, and according to its minutes, which were made public on the company’s website, directed the net profit received to repay the losses of previous years.
“According to the results of the company’s activity for 2022, the profit is 37,353 million hryvnias. Taking into account income from revaluation of actuarial liabilities, according to calculation of independent actuary in the amount of UAH 16,77 million, to approve total profit in the amount of UAH 53,53 million”, – was stated in the minutes of meeting.
The shareholders, in particular, voted against the application by the company of the Corporate Governance Code, approved by the NCFM, but decided to apply their own – the Code of Corporate Governance of PJSC “KVSZ”.
The quorum of the meeting was 70.32%.
KVSZ, Ukraine’s largest railcar manufacturer, produces passenger and freight cars, regional diesel trains, high-speed interregional trains of locomotive traction, spare parts and bogies for freight cars.
In 2021 its net income decreased by 23.2% against 2020 to 2 billion 561 million UAH, the loss was 230 million UAH against a net profit of 71.8 million UAH.
According to the NCCFM, as of the fourth quarter of 2022, Estonian AS Skinest Finants and Osauhing Delantina own 25% each, and Transbuilding Services Limited, registered in England, owns 20% each.
At the same time, it was reported that another 25% of shares of KVSZ (worth over UAH 21.5 mln) owned by Austrian OW Capital Management GmbH, which is under the control of Stanislav Gamzalov, head of the board of directors of Russian railcar manufacturer Plant of Metal Structures, were transferred to ARMA by a court decision of July 13, 2022.
On April 11, ARMA announced a tender for the manager of this stake.
Zaporizhstal steelmaker Zaporizhstal in January-April of the current year decreased shipment of rolled steel by 16.1% compared to the same period of the last year – down to 530.9 thousand tons.
According to the company, steel production fell by 10.3% to 646.5 thousand tons during this period, while pig iron production dropped by 13.6%, to 717.1 thousand tons.
In April 2023, Zaporizhstal produced 231.8 thousand tons of cast iron (in April 2022 – 69 thousand tons), 252.9 thousand tons of steel (73.6 thousand tons), shipped 205.1 thousand tons of rolled steel (68.2 thousand tons).
“The increase in production levels in April 2023 compared to the same period last year is due to the withdrawal of production facilities from forced hot mothballing, caused by full-scale military operations in Ukraine”, – explained in a press release.
It is a reminder that due to aggravation of military actions in the region, since the beginning of March 2022 Metinvest Group has put some of Zaporizhstal’s equipment into hot preservation mode. At the end of March of the same year the plant partially resumed cold-rolling shop operation for production and shipment of cold-rolled coils to European consumers. A month after the forced shutdown the mill put the equipment out of conservation and partially resumed production. Since April 2022 the mill has been working at an average of 50% capacity.
As it was reported, in January-March 2023 “Zaporizhstal” decreased shipment of rolled steel by 42.3% compared to the same period in 2022 – to 325.7 thousand tons, steel melting – by 39.2% to 393.6 thousand tons, cast iron – by 36.3%, to 485.3 thousand tons. In March, 193.6 thousand tons of iron, 184.4 thousand tons of steel were produced and 150.8 thousand tons of rolled products were shipped.
“In 2022, Zaporizhstal reduced the output of rolled steel by 60.4% to 1 million 304.3 thousand tons, steel by 61.7% to 1 million 491.3 thousand tons and cast iron by 54.3% to 2 million 9.9 thousand tons compared to 2021.
“Zaporizhstal” is one of the biggest industrial enterprises in Ukraine, which products are in great demand among the consumers on the internal market and in many countries of the world. The plant specializes in high-quality steel coils, hot-rolled plates, cold-rolled plates, cold-rolled coils from carbon and low-alloyed steels, as well as steel straps, tin plates, formed sections.
Main consumers are producers of welded pipes, enterprises of automotive, transport, agricultural engineering, producers of household appliances.
“Zaporizhstal is in the process of integration into Metinvest Group the main shareholders of which are CJSC “System Capital Management” (71.24%) and Smart Holding group of companies (23.76%).
Metinvest Holding LLC is the management company of Metinvest group.
