KYIV. Feb 29 (Interfax-Ukraine) – Public joint-stock company Farmak (Kyiv), a pharmaceutical manufacturer, saw a 96.9% rise in net profit in 2015, reaching UAH 407.279 million.
The company has reported in the information disclosure system of the National Commission for Securities and the Stock Market of Ukraine, the company’s results will be discussed at a general meeting of its shareholders scheduled for March 31, 2016.
As was reported, in 2014, Farmak boosted sales by 26.1% from 2013, to UAH 2.5 billion, its net profit shrank by 29.7%, to UAH 206.854 million. In the first half of 2015, its net profit amounted to UAH 168.596 million.
Farmak produces up to 200 different medicines.
By 2020, the company plans to boost sales to $1 billion and reduce the share of its sales in Ukraine from 80% to 60% of total sales. The company plans to ensure 10% of its sales on well regulated markets of Eastern Europe and the CIS each.
In 2014, Farmak launched 19 new medicines on the basis of nine new generic names.
According to Proxima Research, Farmak’s share of the Ukrainian pharmaceutical market is 5.6%.
Filia Zhebrivska is Farmak’s ultimate beneficiary.
KYIV. Feb 29 (Interfax-Ukraine) – The decision of the Eurasian Economic Commission, the regulating body of the Eurasian Economic Union (EEU), to impose the anti-dumping duty for five years on Ukrainian seamless, stainless steel pipe up to 426 mm in diameter equal to 18.96% of the customs value took effect on February 26, 2016.
The duty on pipe from Centravis Production Ukraine and Interpipe Niko Tube LLC is 4.32% of the customs value.
The decision took effect in 30 calendar days from the moment of its official publication. The duties are in effect until February 26, 2021.
Interpipe told Interfax-Ukraine that Interpipe Niko Tube LLC does not produce stainless steel pipes.
“We could roll the pipes under an order of another company that included our data into the documents,” Interpipe said.
As reported, imports of stainless steel pipe to the EEU nations fell 28.7% in 2011-2014, imports of pipe from Ukraine rose 15.9% in that period. The share of Ukrainian pipe in total imported pipe rose to 54% in 2014 from 33.2% in 2011.
Meanwhile, prices for Ukrainian pipe declined 9.1% in 2011-2014, while prices from suppliers in other countries rose 20.5%. Price offers from Ukrainian manufacturers of seamless, stainless steel pipe declined as much as 29.33% at purchase tenders held by EEU states. The markdowns amounted to about 13% in 2015.
Based on the results of the investigation, the anti-dumping duty was set at 18.96%.
As a result of the pressure from Ukrainian producers in 2011-2014, the weighted-average price of the pipe products at manufacturers in EEU countries declined 2.5%, although weighted-average costs increased 5.7%. That reduced sales margins to an extremely low level: 80% below the 2011 level and 85% below the 2013 level. Earnings for producers of seamless, stainless steel pipe in the EEU countries plunged 73.9% in 2011-2014.
The Eurasian Economic Commission began the anti-dumping investigation into imports from Ukrainian pipe manufacturers in February 2015.
The investigation was launched based on statements submitted by OJSC Volzhsky Pipe Plant, TMK-INOX LLC, Pervouralsky Novotrubny Zavod and Chelyabinsk Tube Rolling Plant (ChelPipe).
KYIV. Feb 29 (Interfax-Ukraine) – The volume of transportation of goods from Ukraine abroad (not taking into account temporarily occupied territories of Crimea, Sevastopol and a part of the Anti-Terrorist Operation (ATO) zone) fell by 29.3% in 2015 in money terms, to $38.135 billion, the State Statistics Service has reported.
The authority said that transportation of goods for imports in money terms last year decreased by 31%, to $37.502 billion.
Exports of goods in 2015 in types of their transportation were distributed in the following way: 51% of exported goods were sent by ships, 24.3% – by trucks and 14% by rail.
The trucks’ share in transportation of imported goods to Ukraine was 41.7%, that for railway cars – 18.9% and pipelines – 12%.
KYIV. Feb 29 (Interfax) – Germany is working on a ‘Marshall Plan’ for Ukraine, Karl-Georg Wellmann, head of the German-Ukrainian parliamentary group and German parliament member, has said.
“We have been working on a new strategy for Ukraine’s stabilization and development together with the Ukrainians. With much greater financial and political efforts. This is something new, and it will supplement the Association Agreement,” Wellmann said in an interview with the newspaper Segodnya.
The new strategy “is just being elaborated, it has not been incorporated into official policy,” he said.
“This is the idea of a solid ‘Marshall Plan’ for restoring the economy, management, the judiciary, etc. If this ‘Marshall Plan’ ever starts working, that will happen only under full control and monitoring [by Germany]. Europe is Ukraine’s destiny. But you will have to do you homework first. For example, that was done by the Poles after signing the Association Agreement with the EU 20 years ago,” the parliamentarian said.
As to whether Europe was tired of the political situation in Ukraine, he said Germany “did not want that to happen.”
The Ukraine situation is being broadly discussed in the German political community and the media, he said. “You have to understand that everything [happening] in the Ukrainian government and parliament is the subject of intense monitoring in Germany. The future of Ukraine bears great significance for the whole of Europe,” Wellmann said.
KYIV. Feb 26 (Interfax-Ukraine) – The Cabinet of Ministers has approved conformity assessment modules, which are used by central executive authorities for the development of conformity assessment procedures brought in line with EU legislation, as well as the rules for using these modules.
Relevant decree No. 95 dated January 13, 2016 has been posted on the website of the government and comes into force in six months.
The document was developed pursuant to the provisions of the law on technical regulations and conformity assessment, which came into force on February 10 this year, to provide a unified approach to the assessment of products’ conformity in Ukraine and the EU.
“The document is intended to provide confidence in the results of conformity procedures for assessment of technical regulations for signing an ACAA agreement (an Agreement on Conformity Assessment and Acceptance of Industrial Products between Ukraine and the EU), which will facilitate free trade between Ukraine and the EU member states,” reads the report.
According to the resolution, in connection with the adoption of a new legal act, in particular, the technical regulations of conformity assessment modules, approved by the government in 2003, became invalid.
KYIV. Feb 26 (Interfax-Ukraine) – The Uber international technological platform in Ukraine will operate under local legislation, the press service of the platform has reported.
“Uber is a technological platform that connects riders and drivers. Uber in Ukraine will work only with individual businessmen and legal entities that will have all the required documents, including the licenses,” the press service said.
Uber in Ukraine will be presented by a local legal entity and will be managed by a team of local specialists.
“We support competition. We believe that it is of benefit to consumers. Uber provides affordable, reliable and safe way of riding the city and it is a supplement to local transport infrastructure. We don’t have the task to destroy the urban transportation market. On the contrary, Uber considerably widens the market, creating additional demand on rides,” the press service said.
The service said that this create additional economic opportunities for hundreds of drivers that is the possibility of the additional legal income. Money for rides becomes part of the local economy and an additional source for tax payments. All payments for rides are cashless, which guarantees transparency.
“After the launch of Uber, Kyiv will become one of 400 cities where citizens will be able to use the reliable, affordable and safe service for riding from point A to point B at the push of a button of the smartphone. We’re sure that the presence of so popular and acknowledged service will contribute in the attractiveness of Kyiv city as the popular direction for international tourism,” Uber said.
As reported, in December 2015, the Infrastructure Ministry of Ukraine announced the appearance of the Uber service in Ukraine and in July 2015 U.S. Uber Technologies Inc., the designer of the popular taxi application to order taxi, was looking for a manager for the Ukrainian market.
In February 2016, Uberlin company, an authorized partner of the Uber taxi service (the United States), started compiling a database of drivers in Ukraine for further connection to the service.
Currently five Ukrainian cities are available on the website of Uberlin for submitting applications from drivers, namely Kyiv, Lviv, Odesa, Kharkiv, and Dnipropetrovsk. Three indicative tariff plans are offered for Ukrainian drivers: “Weekly” (for 40 trips per week the commission is 6% plus a 5% tax, payments are made once a week), “Daily Cashless” (a commission of 10% plus a 5% tax, funds are daily transferred to the card), and “Fixed” (a commission of UAH 500 a week).
The company does not disclose the concrete date when the service is launched, although some media reported that this could happen in the first quarter of 2016.
