In January-June 2024, the OKKO filling stations network transferred UAH 9.741 billion to budgets and social funds, which is 57% or UAH 3.5 billion more than in the same period of 2023.
“We paid UAH 2.240 billion in taxes and fees directly from operating activities in the first 6 months of 2024. This amount includes VAT (except for import customs duties), retail excise, personal income tax, military duty, land fees, and the mandatory state pension insurance fee,” the company’s website reports.
In addition, another UAH 7.501 billion was paid when importing goods. As the company explained, the amount of taxes paid in this category depends on whether the group’s companies import fuel directly or buy already cleared products from foreign plants on the domestic market.
“In June 2024, the enemy destroyed two of our oil depots. In total, since the beginning of the full-scale invasion, OKKO’s losses as a result of hostilities amounted to $70 million. But we continue to work – we restore filling stations, invest, pay taxes in good faith, and help the Armed Forces,” said Nazar Kupybida, OKKO Vice President for Finance.
According to him, over the past two and a half years, OKKO Group has already paid UAH 33 billion in taxes and donated more than UAH 1.8 billion as charity to support the army and restore the country.
In the first half of 2024, each OKKO filling station paid UAH 5.629 million in taxes and fees per filling station, or UAH 0.938 million per month. This figure is 23% higher than in the first half of 2023. The payment of taxes on operating activities per 1 liter of fuel sold at OKKO filling stations amounted to UAH 3.40/l in the reporting period, which is almost UAH 1 higher than in the first half of 2023 – UAH 2.43/l.
OKKO Group unites more than 10 diversified businesses in production, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand, with about 400 filling stations.
The group’s founder and ultimate beneficiary is Vitaliy Antonov.
TAS-Dniprovagonmash LLC (DVM, Kamianske, Dnipro region), a major Ukrainian railcar manufacturer controlled by businessman Sergiy Tigipko’s TAS Financial and Industrial Group, ended January-June 2024 with a net profit of UAH 18.85 million, three times less than in the same period in 2023.
According to the company’s interim reports, published on Tuesday in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its net income in the first half of the year increased by 37.8% to UAH 796.47 million.
The company reduced its gross profit by 3% to UAH 78.4 million, earning UAH 26.44 million in operating profit (2.2 times less).
As reported, in the first quarter of this year, TAS Dneprovagonmash reduced its net profit by 5.2 times compared to the same period in 2023, to UAH 7.17 million, with a 4.4% decrease in revenue to UAH 379.24 million.
Thus, in the second quarter of 2014, the company reduced its net profit by 44% year-on-year to UAH 11.68 million, while net revenue increased by 30.4% to UAH 417.22 million.
In April-June, the plant’s production capacity was utilized by 22%, and the equipment utilization rate was 26%,
The report notes that in the second quarter of 2024, the plant produced 140 freight cars (177 units in the first quarter), which accounted for 23% of the total Ukrainian production (28% in the first quarter). Its main competitors include Kryukiv Carriage Works, Karpaty Railcar Plant, and Ukrzaliznytsia plants.
The average selling price of a freight car is UAH 2.215 million. Key customers: “TAS Poltavagon, MTB Bank, TAS Logistic, and Tecom Leasing.
According to the company, exports for this period amounted to UAH 3.4 million (0.8% of sales in the second quarter).
As noted in the report, TAS Dneprovagonmash’s annual budget for 2024 provides for the supply of 26 units of products to the European market.
“In the second quarter of 2024, the freight base of railway logistics in Ukraine showed an upward trend – +2%, or +0.9 million tons, compared to the first quarter of 2024 and +27.3%, or +9.8 million tons, compared to the same period in 2023. This, in turn, contributed to an increase in demand for newly built freight cars,” the statement said.
At the same time, the company continues to note the presence of factors restraining the dynamics of car building, in particular massive shelling, the abolition of restrictions on the maximum service life of cars in 2021, and an increase in the rolling stock turnover due to the lack of traction rolling stock at Ukrzaliznytsia.
“However, in general, in the second quarter, the production of freight rolling stock by Ukrainian enterprises tended to grow. The work of the Ukrainian Corridor (transport – IF-U), namely the Black Sea routes, remains a key factor in the growth of cargo turnover and the formation of demand for freight cars,” the document states.
As reported, at the beginning of 2023, TAS Group became a strategic investor in the TransAnt GmbH railcar building joint venture of Austrian Voestalpine and ÖBB Rail Cargo with a 40% stake, and in the spring of 2024 it became the majority owner of TransAnt, increasing its stake to 61%.
According to the company, in the second quarter of 2024, it shipped platform cars as part of the project.
This year, the company intends to invest UAH 100.2 million in the development of the European direction (for the purchase of equipment).
As reported, the company produced 378 freight cars in 2023 (including for the EU market), which is 34.8% less than in 2022, while sales decreased by 40.6% to 370 units. Revenue decreased by 2.8% to UAH 1 billion 77 million, while net profit increased slightly to UAH 49.2 million.
TAS Group was founded in 1998 by businessman Tigipko. Its business interests include the financial sector (banking and insurance) and pharmacy, as well as industry, real estate, and venture capital projects.
In January-June 2024, JSC Ukrgasvydobuvannya paid UAH 11.02 billion of rent payments to the consolidated budget of the country.
“Of this amount, 5%, or UAH 551.03 million, goes to the budgets of local and regional levels in the regions where the company produces hydrocarbons,” the company’s website said on Wednesday.
In particular, Kharkiv region will receive UAH 284.66 million, Poltava region – UAH 220.36 million, Lviv region – UAH 22.76 million, Dnipropetrovs’k region – UAH 10.76 million, and others – UAH 12.49 million.
As reported, in 2022, Ukrgasvydobuvannya produced 12.5 bcm of natural gas (commercial), which is 3% less than in 2021. At the end of 2023, commercial gas production amounted to 13.224 billion cubic meters, which is 0.679 billion cubic meters more than in 2022.
NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.
The Ukrainian Grain Association (UGA) has lowered its estimate of the potential harvest of grains and oilseeds in 2024 by 2.8 million tons compared to the previous forecast, to 71.8 million tons, the association’s press service reports.
“The current forecast is based on the average weather conditions over the past five years, so the improvement or deterioration of these conditions in spring and summer make adjustments. Another decrease in the harvest forecast for the new season was caused by the hot and dry weather in Ukraine in July this year, which negatively affected the potential yield of late grains and oilseeds,” the report says.
According to experts, under such conditions, exports in the new season 2024/2025 will amount to 41 mln tons, which is 2.5 mln tons less than the previous forecast. Last season, which ended on June 30, according to the UGA, the export of grains and oilseeds amounted to 57.5 mln tons of grains and oilseeds. Thus, the drop in exports compared to the previous season could be more than 16 million tons.
The UGA estimates the wheat harvest in 2024 at 19.8 mln tons (22 mln tons in 2023). Potential exports of wheat in 2024/2025 MY may amount to about 13 mln tonnes, taking into account that at the beginning of the season carry-over stocks amounted to almost 1 mln tonnes.
The UGA pointed out that the consumption of wheat in Ukraine has decreased due to the war and significant outflow of population abroad. According to the Ministry of Agrarian Policy of Ukraine, wheat consumption decreased from 8 mln tons to just over 6 mln tons.
According to the UGA, the barley harvest in 2024 may reach 4.95 mln tonnes, which is 350 thsd tonnes more than the previous estimate (5.8 mln tonnes in 2023), and potential exports in 2024/2025 MY are expected to reach about 2 mln tonnes (last year barley exports amounted to almost 2.5 mln tonnes).
Expectations for the corn harvest in the new season are deteriorating due to the prolonged dry period in a number of regions. The UGA estimates the corn harvest at 23.4 million tons, which is 2.1 million tons lower than the previous estimate and 6.2 million tons less than last year’s harvest of 29.6 million tons. At the same time, potential exports may amount to about 18.5 mln tons (last season, exports amounted to 29.3 mln tons, in particular due to carry-over corn stocks).
The sunflower harvest in 2024 can be expected at 12.8 mln tons, which is 0.9 mln tons lower than the previous estimate (2023 – 14.2 mln tons). Potential exports could reach up to 250 thsd tonnes, while sunflower crushing for vegetable oil could reach 12.5 mln tonnes. Last season, the processing amounted to 13.5 mln tons.
In 2024, the UGA expects the rapeseed harvest to reach 4.3 mln tonnes (4.5 mln tonnes in 2023), while the exports in 2024/2025 MY will be 3.4 mln tonnes (3.7 mln tonnes in the current season).
As for soybeans, despite the fact that farmers have increased the area under the crop, unfavorable weather conditions will not allow to get a bigger harvest due to lower yields, experts believe. According to their estimates, the soybean harvest can be expected in 2024 at 4.8 mln tonnes, which is 0.7 mln tonnes less than the previous estimate (4.9 mln tonnes in 2023). Potential exports in 2024/2025 MY may reach 3.5 mln tonnes (last season – almost 3 mln tonnes).
As reported, in 2023, the UGA estimated the harvest at 82.8 mln tons of grains and oilseeds.
Open4Business, Ukraine’s leading economic and business information portal, is now available in five languages. The new language version of the website is Spanish. The move, according to the portal’s editorial team, will significantly improve access to the Ukrainian market for foreign companies and help them find business partners.
Open4Business, created to meet the needs of foreign investors, specializes in providing consulting services for companies seeking to enter the Ukrainian market. The company uses an individualized approach to each project, engaging internal and external experts in the required fields.
The new Spanish-language version of the website is aimed at facilitating interaction with Spanish-speaking clients and partners, as well as providing a deeper understanding of the unique opportunities offered by the Ukrainian market. This initiative reflects the expansion of the international presence of the Open4Business project and its ability to promote global integration and development of the Ukrainian business environment.
“This step is an important milestone in our efforts to provide foreign companies with easy access to the Ukrainian market and strengthen international business ties, as 28 Spanish-speaking countries are now home to more than 500 million people and millions of business projects, many of which could become investors in the Ukrainian economy,” said Maxim Urakin, Open4Business Project Manager.
Thus, the launch of the Spanish version of the Open4Business website opens up new opportunities for Spanish-speaking businessmen interested in entering the Ukrainian market.
Vienna, 31 July 2024 — The ICMPD is growing with another member: Ireland is the 21st Member State to join ICMPD’s work in finding innovative solutions to regional migration challenges. Ireland’s accession is the latest after Germany (2020), Greece (2021), and the Netherlands (2023) joined the ICMPD in recent years.
“Global migration is increasingly complex and multifaceted. Ireland cannot go it alone; effective migration policy cannot be developed or implemented in isolation. Ireland becoming a member of the International Centre for Migration Policy Development is very welcome, and brings a wealth of expertise which will be an invaluable resource to Irish policymakers,” Irish Minister for Justice Helen McEntee TD, said.
Ireland and the ICMPD have been working together for the past 20 years, collaborating on a number of migration governance projects through research. These include studies around irregular migration and trends and outcomes of regularisation policies, as well as analysis of various policy implementation (MIrreM); evaluating the framework and practice of the Common European Asylum System (CEASEVAL); and producing evidence to support policy in the EU on complementary pathways to admit adult refugees through technical and vocational skills (REF-VET), among many others.
Furthermore, Ireland also holds an active role in migration dialogues supported by the ICMPD, such as the Budapest Process and Prague Process; as well as developing a guide to integrate recently arrived migrants in the region (SPRING); policy research, information sharing, and capacity-building on the Medical Country of Origin (MedCOI) initiative; and in developing methods and strategies to assist survivors of trafficking, sexual abuse, and exploitation of children particularly those committed using online channels (HEROES).
“We are happy to welcome Ireland as our newest Member State. ICMPD’s Member States represent a group of countries highly relevant to and uniquely positioned in tackling issues around migration; and Ireland has been an active stakeholder in these efforts. As a Member State, Ireland will further strengthen the strategic dimension of our engagement with the broader European Union and beyond,” said the ICMPD Director-General Michael Spindelegger.
“Beyond being a destination country for migrants, Ireland’s active collaboration with the ICMPD and the country’s experience in responding to various migration themes, will strengthen our possibilities to respond jointly and more effectively to the opportunities and challenges, and work towards improved migration systems at the regional level,” Mr Spindelegger added.
The ICMPD was founded on the initiative of Austria and Switzerland in 1993, when the migration reality in Europe was dramatically altered by the political changes in Eastern Europe and the Balkan conflicts. The ranks of its Member States saw their first growth in the 1990s with the addition of Hungary in 1995 and Slovenia in 1998. Czechia then followed in 2001; Sweden, Poland and Bulgaria in 2003; Portugal and Croatia in 2004; and Slovakia in 2006.
Romania and Serbia were the next to join in 2011 followed by Bosnia and Herzegovina in 2012 and North Macedonia in 2015. Malta and Türkiye both joined in 2018 followed by Germany in 2020 and Greece in 2021.
