Business news from Ukraine

Business news from Ukraine

UKRAINE RAISES ELECTRICITY EXPORT

Ukraine in January 2019 increased exports of electricity by 4% (by 19.7 million kWh) compared to the same period of 2018, to 511.5 million kWh, the Ministry of Energy and Coal Industry has told Interfax-Ukraine.
Electricity supplies from the “Burshtyn TPP energy island” in the direction of Hungary, Slovakia and Romania increased by 7.2% (by 21.5 million kWh), to 319.4 million kWh.
Electricity supplies to Poland decreased by 22.7% (by 33.1 million kWh), to 112.9 million kWh.
Electricity supplies to Moldova amounted to 79.2 million kWh, which is 65.1% (31.2 million kWh) more than in January 2018.
Ukrainian electricity was not exported to Belarus and Russia in January 2017 and 2018.
In addition, Ukraine in January of the current year imported 2.1 million kWh of electricity (2.1 million kWh from the Russian Federation, 100,000 kWh from Belarus) against 3.2 million kWh in January 2018.

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KERNEL POSTS $164 MLN NET PROFIT

Kernel, one of the largest Ukrainian agricultural groups, received $164 million of net profit in the first half of the 2019 fiscal year (FY, July 2018-June 2019), which is 83% more than in the same period last year.
According to the company’s financial report on the website, its revenue in July-December 2019 FY increased by 2.1 times, $2.255 billion.
The operating profit of Kernel rose by 2.4 times, to $193.4 million, EBITDA by 1.9 times, to $229.9 million.
According to the company, the group’s revenue from oilseeds processing grew by 9%, to $736.5 million, from infrastructure segment and sales in July-December 2019 FY by 4.2 times, to $1.741 billion, from crop production by 22%, to $342.5 million.
According to the report, the company plans in the 2019 FY to process 3.1 million tonnes of sunflower and export 6-6.2 million tonnes of grain.

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NIKA-TERA SEA TERMINAL RAISES CARGO HANDLING BY 57%

Nika-Tera sea terminal (Nika-Tera specialized seaport, Mykolaiv), part of Group DF belonging to Dmytro Firtash, in January-February 2019 handled more than one million tonnes of cargo, which is 56.7% more than in the same period of 2018, the press service of the company has reported.
According to the company, as of February 27, 2019, Nika-Tera port had handled more than one million tonnes of cargo, significantly exceeding the dynamics of last year’s transshipment: in January-February 2018 the port’s cargo turnover amounted to 638,000 tonnes, while the figure of the first million was reached only at the end of March.
“Nika-Tera port continues to master new technologies for receiving and transshipment of goods. Thus, in February 2019 the first train of railway platforms with specialized containers for bulk cargo transportation entered the port. In total, a batch consisting of 88 containers with corn was processed on 44 platforms with a total weight of more than 2,000 tonnes,” the press service of the port said.
To implement the new cargo handling scheme, containers were unloaded from railway platforms to container trucks inside the port.

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