Revenue of Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metal group, fell by 6.4% in May 2018 or by $68 million compared with the previous month, to $998 million from $1.066 billion. According to a monthly report based on preliminary financial results, earnings before interest, taxes, depreciation and amortization (EBITDA) in May totaled $224 million, which is 3% or $7 million more than in April ($231 million).
According to the report, adjusted EBITDA of the metallurgical division of the group in May 2018 totaled $133 million, including $17 million from participation in JVs, EBITDA of the mining division was $87 million, including $14 million from participation in JVs. Corporate overheads totaled $5 million.
Total revenue in May consisted of revenue of the metallurgical division in the amount of $875 million, the mining division – $262 million and eliminations were -$139 million. Total debt of the company in May fell by $229 million compared with April, to $2.977 billion. Cash and cash equivalents fell by $375 million, to $268 million. Net cash used in investing activities totaled $68 million and net cash used in financing activities were $200 million.
Ukraine will open the Consulate General in Canada’s Edmonton on September 7, Ukrainian Ambassador to Canada Andriy Shevchenko has said. “On September 7 this year, we plan to accept the first citizen of Ukraine in Edmonton and thereby start the work of the Ukrainian Consulate General in Alberta province,” he told Interfax-Ukraine. Shevchenko noted that Ukraine’s presence in the western part of Canada will be ensured in this way.
The ambassador expressed hope that the opening of the consulate will be important for establishing contacts with business.
One troy ounce=31.10 grams
Xoom, a subsidiary structure of the PayPal payment service, has launched a service of money transfer from the United States to Ukraine, the initiator of the group on the introduction of PayPal in Ukraine, Ilia Kenigshtein, has said.
“Xoom is a money transfer system that PayPal bought in November 2015. Earlier Xoom was able to send money to 44 countries, Ukraine was not on this list. Starting from today, Xoom allows sending money from the U.S. to 130 countries, which include Ukraine,” he wrote on his Facebook page.
According to Kenigshtein, currently only one of the system services, Cash Pickup, which allows recipients in Ukraine to take remittance in one of the banks listed on the Xoom website.
Among the partner banks are Oschadbank, PrivatBank, Pravex-Bank, Ukrgasbank, Universal Bank, VS Bank, Accordbank, Industrialbank, Kredobank, Pivdenny Bank, Credit Dnipro, Vostok, Globus, IBOX Bank, as well as Ukrainian Financial Group.
“As for the limits: you can send up to $2,999 per day, but not more than $6,000 during 30 days, or expand the limits through the form on the website, providing additional documents,” the expert said.
The group’s initiator expects that in time PayPal, the parent company, will also provide services in Ukraine.
“In fact, this is a historical moment, confirming that sooner or later PayPal will come to Ukraine,” he noted.
As reported, the volume of private money transfers to Ukraine in January-May 2018 increased by 30% compared to the same period in 2017, to $4.5 billion.
UBC Group, a trade and industrial holding in Kharkiv, working in the field of refrigeration and promotional products, intends in the beginning of September to launch the first stage of a Green Cool plant with an area of about 20,000 square meters to produce refrigerator equipment in the industrial park Vinnytsia Cluster of Refrigeration Engineering.
Vitaliy Pohosian, the director of the Vinnytsia City Council economy and investment department, told Interfax-Ukraine that on August 27 an agreement was signed on the creation and functioning of an industrial park between Vinnytsia Mayor Serhiy Morhunov, Ukrainian Brewery Company (UBC Group) and Industrial-Investment Company LLC, which became the managing company of the industrial park based on the results of an open tender.
As reported, Vinnytsia Cluster of Refrigeration Engineering was introduced by the Ministry of Economic Development and Trade of Ukraine in the register of industrial parks in May 2017.
The expert said the necessary procedures for attracting the managing company were made, competitive conditions were developed, the business plan of the park development was considered.
“This work, which takes a lot of time, was actually completed by signing an agreement with the managing company,” he said.
Pohosian said today it is the only industrial park of a cluster type in Ukraine, initiated by Vinnytsia City Council and Ukrainian Brewery Company.
