Business news from Ukraine

Business news from Ukraine

PJSC “Promarmatura” finished 2022 with loss of UAH 30 mln

PJSC Promarmatura (Dnipro) finished the year 2022 with a net loss of UAH 29.995 mln, while in 2021 it received a net profit of UAH 13.212 mln.
According to the company’s annual report, its net profit dropped 23.6% last year, to 154.645 mln hryvnia.
The retained profit of the company at the end of the last year amounted to UAH 119.213 mln.
The company “Promarmatura” was founded in December 1994 and works at the market of pipeline valves.
According to the NDE as of the end of 2022, two individuals – Ukrainian citizens Igor Mezhebovsky and Alexander Chelyadin – own 50% of the company.
The charter capital of the company is UAH 7.218 mln.

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Czech Republic will open its consulate general in Dnipro – Petr Pavel

The Czech Republic intends to open its consulate general in Dnipro, Czech President Petr Pavel said.
“We seek to strengthen our presence and deepen cooperation in Ukraine. To this end, we will delegate two persons who will work in Dnipro. We will open a consulate general there,” he said Friday at a joint press conference with the presidents of Ukraine and Slovakia in Kiev.
In particular, the work of the consulate will be connected with facilitation of projects of mutual cooperation of the Czech Republic in energy, economy, transport and housing in the reconstruction of Dnipropetrovsk region.
The timing of the opening was not reported.

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Ukraine received another $1.25 bln grant from U.S. – Ministry of Finance

Ukraine’s state budget on Friday received another tranche of $1.25 billion in grant funds from the United States.
“Funding was provided through the World Bank Trust Fund as part of the fourth additional funding for the Supporting Public Expenditures for Sustainable Governance in Ukraine (PEACE) Project,” the Finance Ministry pointed out.
He specified that Ukraine has already received about $16.7 billion in grants from the U.S. since the start of Russia’s full-scale invasion.
“The partnership with the U.S. and the World Bank team during the war allows the Ukrainian government to fund priority social expenditures in full. At the same time, aid in the form of grants does not increase the debt burden and helps stabilize the financial system,” said Finance Minister Serhiy Marchenko.
As reported, the external financing needs of the state budget of Ukraine in 2023 is more than $ 42 billion.
Since the beginning of this year, by April 26, according to the Ministry of Finance, funding from international partners has already reached $15.285 billion, compared to $32.144 billion for the whole of last year. That includes $3.5 billion in grants from the U.S. this year. The EU, with $6.501 billion, the IMF, with $2.706 billion, and Canada, with $1.757 billion, have also already provided large loans.
Domestic financing from government bonds this year amounted to $4.839 billion.

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Insurer “VELTA” in January-March reduced net premiums almost 5 times

Insurance company “VELTA” (Kiev) in January-March 2023 collected UAH 1,382 million of net premiums, which is 4.7 times less than during the same period a year earlier, according to an interim financial report of the company in the information disclosure system of the National Commission on Securities and Stock Market (NKTSBFR).
The report says that gross premiums of the company in the first quarter decreased by 2.2 times – to 2,727 million UAH, premiums transferred in reinsurance – 2.5 times, to 1,064 million UAH.
The company paid out UAH 73 ths in three months of 2023 against UAH 2 ths in the same period of 2022.
Its administrative costs decreased by 15% to UAH 2.034 mln and sales costs decreased 3.3 times to UAH 429 th. in the first three months of the year.
Financial loss from operating activities amounted to UAH 868 th., net loss – UAH 1,902 mln.
IC “Vielta” was registered in 1995, specializing in risky types of insurance.

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VODA UA invested $600 thousand in production of kombucha uno beverage

“AT Market” LLC (Kiev), specializing in bottling Carpathian highland water under Voda UA trademark, has invested $600 000 to expand its product line and launched production of a beverage made from the tea mushroom – kombucha.
“We built a factory in Irpen before the war. During occupation of Irpen the plant suffered, but it was quickly restored”, – said the owner and founder of the company Dmitry Nikiforov to the agency “Interfax-Ukraine”.
According to him, while making decision about investments the company was guided by the absence of real kombucha on Ukrainian market. “There are some surrogates and tea-based lemonades,” Nikiforov claims.
He noted that the company has decided to produce “the right product”, that is why the process is managed by a “super technologist” and everything is done technologically very right.
According to his information the plant may produce 2 tons of kombucha per day, which will be sold in 0.33 glass bottles under Kombucha uno trademark. It is planned to involve 800-850 HORECA outlets, as well as 5-6 retail chains. In May 2023 the producer plans to start producing flavored Kombucha with 5-6 different flavors.
Nikiforov indicated that he expects the popularity of kombucha to grow in Ukraine following the world as “a healthy alternative to various kvasses and lemonades.
In Ukraine, the market for this drink has been doubling annually since 2019. In the military year 2022, the market capacity was estimated at 120 million bottles. In 2023, consumption is expected to increase by 150%, the company expects.
Voda UA also produces waters under trademarks Goryanka and Karpatska dzherelna visokogirna.
According to opendatabot, the revenues of AT Market in 2022 decreased by 5.9% – to 26.78 million UAH, while net profit increased by 31% – to 0.58 million UAH.

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Number of doctors in Ukraine decreased during the year

The total number of medical personnel – doctors, nurses and paramedics in Ukraine in 2022 decreased by 14% compared to 2021, according to the results of research “Medicine during the war: the influence of a full-scale invasion of Russia on the health care system of Ukraine”, the Ukrainian Center for Healthcare (UCH).
According to them, the number of nursing staff decreased the most, which decreased by 16.5% compared to prewar levels.
“It is expected that the number of medical personnel decreased in regions where active hostilities are taking place or in the temporarily occupied territories of the Russian Federation,” the UCH press release said.
At the same time, it is noted that against the background of the reduction in the number of medical personnel in the frontline and de-occupied territories there was no noticeable influx of medical workers in the rear regions, except in Poltava region, where the number of doctors slightly increased.
“Such trends may indicate the scale of migration of medics abroad,” the UCH indicated.
At the same time, citing the Polish Ministry of Health’s response to UCH’s inquiry about the number of medics who received specialty work permits in Poland in 2022, the center cites data that as of late February 2023, just over 2,300 doctors and over 1,060 nurses and nurse aides were employed there, with nearly 1.8 million Ukrainian refugees registered in Poland, according to official figures.
“Since Poland has taken in the largest number of Ukrainians, it is expected that the flow of medics will match a similar scale. But less than 1% of the pre-war number of Ukrainian medics were employed in Poland,” the UCH states.
It is specified that the analysis was conducted using data from the National Health Service of Ukraine (NHSU), which takes into account only those medics who worked in contracted with it medical institutions.