Change in prices of food raw materials from Ukraine (forecast up to 2025), %
Source: Open4Business.com.ua and experts.news
Cherkassy regional military administration on the eve of Rosh Hashanah recommends Hasidim to refrain from visiting Uman, but takes measures to strengthen security measures, according to the head of Cherkassy OVA Igor Taburets.
“In a month – Rosh ha-Shana. We recommend pilgrims to refrain from visiting Uman as much as possible, given the war, regular massive shelling of our country and possible provocations from Russia,” the head of the OVA said in a message in his Telegram channel on Tuesday.
At the same time, as Taburets notes, some of the believers, as last year, will still decide to come, so the authorities are taking the necessary measures to strengthen security measures for guests and locals. “Today on this issue held a meeting of the special commission with the participation of the Deputy Ambassador Extraordinary and Plenipotentiary of the State of Israel in Ukraine Mrs. Liron Finkelstein,” – said Taburets.
“First of all, we coordinate the work on security measures. They, like last year, will be strengthened . …We are working on other areas, having the experience of previous celebrations. We are talking about the provision of medical care, the functioning of catering establishments, the work of utility workers, anti-epidemic measures and others. The key priority is unchanged – the safety of local residents and visitors,” Taburets wrote.
Rosh Hashanah is the Jewish New Year, which is celebrated for two consecutive days on the new moon of the fall month of Tishrei according to the Jewish calendar. From this day begins the counting of the days of the new Jewish year.
Investments of Ukraine’s largest mobile operator Kyivstar in energy independence amounted to UAH 920 million for the entire period of the full-scale invasion of the Russian Federation, the company’s press service said.
“The national telecom operator prepares in advance for possible winter blackouts and provides the telecom network with diesel generators, long-lasting batteries, uninterruptible power supplies. Since the beginning of the full-scale war Kyivstar has invested UAH 920 mln in energy independence of telecom networks,” the press release says.
In particular, Kyivstar has allocated more than UAH 680 mln for autonomous operation of mobile communications, and for Home Internet – UAH 240 mln.
The company uses more than 2.5 thousand stationary and mobile diesel generators, thanks to which all key base stations, switches and critical telecom equipment have backup power. The base stations are equipped with 37 thousand new long-life batteries, which can operate without external power supply for 4-6 hours.
“Kyivstar plans to install 50 thousand uninterruptible power supply units by the end of the year, which will allow to achieve autonomy of 70% of fixed Internet networks in case of power outages.
The company is also developing energy-efficient GPON technology.
“Development of “Home Internet” network with the use of GPON technology is planned in the fourth quarter of 2023″, – specified in the press service of the company.
Kyivstar communication services are currently used by 24 million subscribers, “Home Internet” services – more than 1 million subscribers.
In a week’s time, on August 17-18, Vinnytsia will host the Bread Industry 2023 conference and exhibition, which will bring together representatives of various businesses in the bread industry, from grain processors to suppliers of food equipment and technologies.
So far, more than 150 companies from the industry have confirmed their participation in the conference. In particular, the event is attended by the heads of the leading manufacturers of
– Concern Khlibprom, Skvyra Bakery, Stolychnyi Mlyn, Kyiv Bread, Kyiv BCC, Vinnytsia Bread Factory No. 2, Bread Investments, Formula Smaku, Mlyn Baza, HD Group, Bread Guild, Newsphere, Agrofirma Pole LLC, Khlibodar, Rivne Boroshno LLC, Energy Saving Technologies, Newsphere, Eldorado Trading House, Cascade Trading House and many other representatives of the grain processing and bakery business)
– ingredients, mixtures and spices for the food industry (Foodreform, Zealand, Lesaffre, Stern Ingredients Ukraine)
– equipment and technologies for the grain processing and food industry (Buhler Ukraine, OLIS, ProTek Systems, Kumkaya, Aventin, GVP Equipment Solutions, Basis, Habasit Ukraine LLC, Socktrade, etc.)
In total, more than 150 delegates have already confirmed their participation in the business conference, the list of participants is available at.
The participants of the Bread Industry conference will enjoy a rich program with hot discussions and time to communicate with colleagues and partners.
Register and join the professional business meeting on August 17-18!
Open4business is a media partner
KSG Agro has been renewed its national scale rating of uaA+ (the Agency’s international scale rating of BOV) by Expert Rating Agency, the press service of the agroholding said.
“Rating Committee of RA Expert-Rating, despite the large-scale aggression of Russia and the difficult situation in the Ukrainian agro sector, has renewed long-term credit rating of KSG Agro on the national scale at the level uaA+. This means that the borrower or a separate debt instrument with a uaA rating is characterized by high creditworthiness compared to other Ukrainian borrowers or debt instruments”, – reported in the agricultural holding and added that the credit rating was assigned based on the analysis of data from the consolidated statements of KSG Agro for the first quarter of 2023.
Experts of the rating agency indicated that the predominant share in the structure of long-term liabilities of KSG Agro as of March 31, 2023 was occupied by long-term loans, the volume of which in the analyzed period decreased by 7.59% to $24 million. At the same time, the volume of short-term loans received by KSG Agro from March 31, 2022 to March 31, 2023 decreased by 21.97% and amounted to $2.67 million.
Sales volumes of the holding company’s products in the analyzed period increased significantly: income from sales for the first quarter of 2023 compared to the first quarter of 2022 increased by 44.52% and amounted to $5.12 million, which is explained by the increase in exports of grain crops in the current year.
Analysis of KSG Agro’s consolidated financial statements by the agency’s experts showed that EBITDA for the first quarter of 2023 compared to the first quarter of 2022 increased by 22.90% to $1.87 mln, and the ratio between EBITDA for the first quarter of 2023 and loans as of March 31, 2023 increased by 1.72 p.p. to 7.08% compared to last year’s figure.
There has been no fighting in the immediate vicinity of Agroholding’s assets since the start of the Russian invasion. Also, they have not suffered from flooding as a result of Russia’s undermining of the Kakhovskaya HPP dam and have alternative sources of water supply. As in the previous year, in the first quarter of 2023 KSG Agro used more of its own grain to produce feed instead of buying it, reducing the holding’s dependence on external suppliers of feed ingredients during the war, analysts said.
“The company has successfully completed the spring sowing campaign and KSG Agro’s management does not expect significant disruptions in its production cycle or a meaningful negative impact of the Russian invasion on business operations in the near future. The Agency notes the increase in sales volumes and efficiency indicators of the holding, as well as the growth of EBITDA/loans ratio”, – summarized RA Expert Rating.
Vertically integrated holding KSG Agro is engaged in pig breeding, as well as in the production, storage, processing and sale of grain and oilseeds. Its land bank is about 21,000 hectares in Dnipropetrovsk and Kherson regions.
According to the agroholding, it is among the top 5 pork producers in Ukraine.
Last year KSG Agro ended 2022 with a net loss of $1.68m compared to $17.71m net profit in 2021 due to the full-scale war launched by Russia, its EBITDA decreased 5.5 times to $1.79m and revenue decreased 47.3% to $16.2m.
