State-owned enterprise Electrotyazhmash (Kharkiv) in 2017 received a net profit of UAH 8.5 million, which is 35% higher than in the same period in 2016 (UAH 6.3 million), according to the company’s website.
The volume of products sold amounted to almost UAH 1.5 billion, in particular the share of export supplies was 90%.
According to the report, in 2017 Electrotyazhmash repaid loans to banks for a total amount of about UAH 24 million and will continue repaying them in 2018. At the same time, the plant did not borrow funds.
“The amount of contracts signed in 2017 exceeded UAH 3.5 billion, in particular those for the reconstruction of Kaniv and Kyiv stations, participation in the construction of the fourth block of Dnistrovska hydroelectric pumped storage power station. In addition, the plant won a tender for the reconstruction of equipment of Seredniodniprovska and Dniprovska stations. The work on these projects will continue in 2018,” the press service said citing director of the plant Dmytro Kostiuk.
Tariff rates and the wages of the company’s employees have been increased by 38% since October 2017.
According to Electrotyazhmash, over the past year it passed a number of complex inspections and completed the audit of financial statements for 2016 with the participation of the international company BDO. From 2018 the plant will be audited annually.
The Ukroboronprom State Concern supports the proposal to liberalize the existing system of military and technical cooperation and arms exports amid new challenges of wartime and to grant the powers of special exporters to private defense producers, Ukroboronprom Head Pavlo Bukin has told Interfax-Ukraine. He told the news agency on Monday, February 26, following the consideration of this issue at a meeting of the National Security and Defense Council, the participants had agreed on the following position that is currently being processed: “Ukrainian private defense producers will be granted the right to export their own products, and the right to import defense products in the interests of ensuring their own production.”
According to Bukin, at the same time, in order to avoid “abuses and excesses in the regions,” it is planned to return to the defense sector a system for licensing or certifying defense products. “It’s about manufacturers presenting their products and the state making sure that these products exist, that they meet standards, and that they are not transferred to and not used by persons who are not given the right to use them,” he said.
According to the Ukrainian Defense Ministry, in recent years, 50% were private defense companies in the structure of executors of the state defense order.
PJSC Kremenchuk Road Machinery Plant (Kredmash, Poltava region), in February delivered a KDM 20667 asphalt mixing plant to KAZPACO (Kazakhstan), according to the company’s website.
“This is the second plant from a new model range certified in accordance with EU rules delivered to Kazakhstan,” the report says.
The equipment was delivered with the assistance of the official representative of the plant Kredmash Asia.
The plant’s capacity is 160 tonnes per hour, the volume of the mixer is 2,200 kg, the number of containers is 3×30 cubic meters.
“The plant has all the characteristics of current equipment concepts for large cities and highways,” the report says.
Kredmash specializes in the development and manufacture of asphalt mixing plants, spare parts for construction and road machinery, road tankers, auto-bitumen trucks, cast iron and steel castings, consumer goods.
KAZPACO, part of BI-GROUP, a large construction holding of Kazakhstan, specializes in building highways, industrial and civil construction.
Ukrenergo and SEPS, the operator of the Slovak power transportation system, have agreed on the final configuration of the request for the reconstruction of the 400 kV Mukachevo-Velke Kapusany power grid, the press service of the state enterprise has said. According to its data, during a meeting in Bratislava at the end of February the parties discussed the implementation of a common network research within the framework of this project and potential technical solutions for the reconstruction of the transmission line. The meeting was held with the participation of the Energy Community Secretariat.
“After the meeting, a protocol was signed containing a specific list of further steps and obligations of the parties with the relevant deadlines for the implementation of network settlements. The results of calculations are expected in August this year and will form the basis for choosing the best technical solution within the framework of the project, namely the modernization of the old line or the construction of a new one,” the report said.
Ukrenergo noted this project is a candidate for the “projects of mutual interest” (PMI), the list of which will be approved by the Council of Ministers of the Energy Community in autumn 2018. Following the meeting, the parties agreed on the configuration of an application for obtaining the status of PMI.
Capital investments in Ukraine in 2017 grew by 22.1% against 18% in 2016, the State Statistics Service has reported.
According to the service, over the past year UAH 412.8 billion of capital investments (excluding the temporarily occupied territory of Crimea, Sevastopol and part of the ATO zone) were used.
In the regional context, the largest increase in capital investments in 2017 compared to 2016 was recorded in Kherson (50.7%), Zaporizhia (47.4%), Donetsk (44.5%), Ternopil (42.3%), Vinnytsia (40%), Chernihiv (34.8%), Rivne (34.6%), Poltava (33.8%), Zakarpattia (32.4%), Ivano-Frankivsk (32.1%), Dnipropetrovsk (28.9%), Odesa (28.8%), Lviv regions (26%) and Kyiv (21.4%).
According to statistics, capital investments in 2017 decreased in Kyiv region (by 5.9%).
In the sectoral context, the largest growth of capital investments last year was recorded in health care (by 89.5%), education (by 68.4%), in the sphere of art, sports and entertainment (by 65.9%), in state administration, defense and compulsory social insurance (by 44.9%), at the enterprises of transport, storage facilities, in postal and courier activities (by 42.2%), advertising activities and market research (by 35.5%), professional, scientific and technical activities (by 32.4%), in agriculture, forestry and fishery (by 31.2%), industry (by 23.4%), in the field of administrative and supplementary services (by 18.7%), wholesale and retail trade, repair of motor vehicles and motorcycles (by 13%), and construction (by 10.5%).
AXA Insurance (Kyiv) in 2017 collected UAH 1.679 billion of insurance premiums, which is 20% more than a year earlier, while the company’s net profit under international standards increased by 2.3 times, to UAH 57 million, according to a press release from the insurer.
It is also noted that the net financial result for the previous year under national standards amounted to UAH 127.6 million. This result is the reflection of a one-time effect of transition to international accounting standards by changing the reserve methodology. The net effect of this transition was UAH 198.2 million. Such a one-time change will allow from 2018 to harmonize the national financial reporting with the international accounting standards as best as possible, the press release says.
“Again our company demonstrates a significant increase in profits and insurance premiums, while maintaining a high level of Customer Satisfaction. We continue to invest in innovative products and services for our customers, as well as in personnel,” AXA Insurance Board Chairman Philippe Wautelet said.
The company reports that KASKO accounts for 60% of its insurance portfolio. In 2017, a record volume of premiums for the amount of UAH 1.007 billion was raised, which is 17% more than a year ago.
Insurance claim fee payments increased by 36% compared to 2016 and amounted to UAH 818 million. The number of contracts signed during the year increased by 31%, to 1.368 million.
AXA Insurance belongs to AXA Group. It has been represented in the Ukrainian insurance market since 2007. The company employs more than 700 people and 2,800 agents throughout Ukraine.
