Business news from Ukraine

Business news from Ukraine

ARTYOMSOL SEES NET PROFIT RISE 5-FOLD IN Q1

The state-owned enterprise Artyomsol (Donetsk region) in January-March 2021 increased its net profit 5-fold compared to January-March 2020, to UAH 10.1 million, the enterprise has said on its website on Tuesday.
The net income of the enterprise for the first quarter of 2021 increased almost 1.5-fold compared to the same period in 2020, to UAH 437.5 million.
The growth of financial and economic indicators is explained by the increase in production volumes: in the first quarter, production increased 2.5-fold, to 503,300 tonnes.
The plans for 2021 are to invest UAH 250 million in replacing outdated filling equipment, and to update the range of products.
Artyomsol is one of the largest enterprises for the extraction and sale of sodium chloride (NaCl) in Central and Eastern Europe. The production facilities of Artyomsol are located in Soledar, Donetsk region.

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TRANSPORT ENTERPRISES OF UKRAINE REDUCE PASSENGER TRAFFIC BY 30% IN Q1

Ukrainian transport companies carried 624 million passengers in January-March 2021, which is 30.5% less than in the first quarter of 2020, the State Statistics Service reported.
The passenger turnover of transport enterprises in the specified period amounted to 12.3 billion passenger-kilometers, which is 35.3% less than in January-March last year.
According to the State Statistics Service, 17 million passengers used railway transport in the first quarter of 2021 (including city commuter trains), which is 39.3% less than in the same period in 2020, and 258.7 million passengers used road transport (less by 32.6%).
Air transport reduced passenger traffic by 44.2%, to 1.1 million people.
In addition, according to the State Statistics Service, in the first quarter of 2021, some 92.4 million passengers used trams (less by 32.6% versus January-March 2020), metro carried 112.8 million people (less by 19%), trolleybuses some 142 million people (less by 31.5%).

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NET PROFIT OF STATE-OWNED UKRGASBANK DOWN BY 66%

The net profit of the state-owned Ukrgasbank (Kyiv) in 2020 amounted to UAH 411 million, which is 66.7% less than in the same period in 2019 (UAH 1.289 billion).
According to the statements posted on the bank’s website, its net loss for the fourth quarter of 2020 amounted to UAH 274 million, while the net profit for the same period in 2019 amounted to UAH 942 million.
Net interest income of Ukrgasbank after spending on loan expenses for the year decreased by 20% year-over-year (to UAH 1.69 billion), while net commission income grew by 16.1% (to UAH 1.2 billion).
The bank’s assets in 2020 increased by 18.1%, to UAH 142.7 billion, including loans to clients and financial leases – by 21.9% (to UAH 47.5 billion), and investments that are estimated at fair value increased by 1.8 times, to UAH 56 billion.
The bank’s liabilities for the corresponding period increased by 1.2 times, to UAH 134.2 billion, including customer accounts – by 1.2 times, to UAH 126.5 billion.
The bank’s equity capital increased by 3.6% over the year, to UAH 8.55 billion, the charter capital remained at the level of UAH 13.84 billion.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.94% of the shares of the financial institution.
According to the National Bank of Ukraine (NBU), as of March 1, 2021, Ukrgasbank in terms of total assets (UAH 149.524 billion) ranked fourth among 73 banks operating in the country.

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ECONOMIC DEVELOPMENT STRATEGY OF DONBAS TO START WORKING IN JAN 2022

The Ministry for the Reintegration of the Temporarily Occupied Territories of Ukraine says that the Economic Development Strategy of Donetsk and Luhansk regions will start working in January 2022.
“We set ourselves such an ambitious goal, the strategy will actually start working on January 1, 2022, when all other legislative initiatives are adopted and implementation initiates,” First Deputy Minister for Reintegration of the Temporarily Occupied Territories of Ukraine Rostyslav Zamlynsky said during a discussion under the National Platform Dialogue on Peace and Safe Reintegration on Tuesday.
According to him, in early May, the draft document will be sent for approval to the central executive authorities, after which it will be considered at a government meeting. Further to the strategy, an action plan for the next two years will be developed.
As reported, in December 2020, the Cabinet of Ministers of Ukraine approved the Concept of Economic Development of Donetsk and Luhansk regions until 2030.

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UKRAINE RECORDS 2,472 CASES OF COVID-19 INFECTION PER DAY

Ukraine has recorded 2,472 new cases of COVID-19, some 7,815 recoveries and 166 related deaths over the past 24 hours, Health Minister Maksym Stepanov said.
“Ukraine has registered 2,472 new daily cases of the coronavirus infection as of May 4, 2021, including 122 children and 22 medical workers. Also, 1,591 people have been admitted to hospitals. Medics have recorded 166 fatalities and 7,815 recoveries over the past day,” Stepanov said on Facebook on Tuesday morning.
The day before, on May 3, some 2,758 new cases of COVID-19 infection were recorded, on May 2, some 5,094 new cases were recorded, on May 1, some 8,549 new coronavirus infections were reported, on April 30, some 10,072 new cases of COVID-19 infection were recorded.
Since the pandemic began, Ukraine has recorded a total of 2,088,410 cases of COVID-19, including 44,916 deaths and 1,689,630 recoveries.
Over the past day, the largest number of confirmed cases was registered in Donetsk (324), Cherkasy (253), Dnipropetrovsk (220), Kharkiv (191) and Odesa (168) regions.
A total of 756,022 people have been vaccinated against COVID-19 since the vaccination campaign started in Ukraine, among them 919 people on May 3.

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