Business news from Ukraine

Business news from Ukraine

Dnipropetrovs’k Arrow Plant increased its net profit by 52% and will pay UAH 440 in dividends per share

According to preliminary data, Dnipro Arrow Plant JSC (DnSZ, Dnipro) ended 2023 with a net profit of UAH 510.86 million, up 52% year-on-year in 2022.

According to the information published in the NSSMC’s information disclosure system on the agenda of the general meeting of shareholders of DnSZ on March 25, retained earnings at the beginning of this year amounted to UAH 1 billion 682 million, compared to UAH 1 billion 810 million a year earlier. Net income per ordinary share (par value UAH 10.5) amounted to UAH 2 (UAH 1.32 a year earlier).

The agenda of the meeting includes the issue of distribution of the net profit: according to the draft decision, UAH 112.006 million (or about 22% of the profit) is to be allocated to the dividend fund at the rate of UAH 440 per share, while the remaining profit of UAH 398.08 million is to be left undistributed.

As reported, based on the results of its activities in 2022, SESP allocated UAH 140.008 million, or 42% of the net profit at the rate of UAH 550 per share, leaving UAH 195.78 million undistributed.

At the same time, the planned shareholders’ meeting on March 25 intends to amend the distribution of profits for 2022, stipulating that UAH 101.82 million of retained earnings (UAH 195.78 million) will be allocated to the dividend fund to pay UAH 400 per share, and UAH 93.96 million will be left undistributed.

According to the publication, the shareholders at the meeting, in particular, intend to rename the company into Dnipro Switch Plant JSC (instead of Dnipropetrovs’k) and amend its internal regulations.

According to DnSZ, in 2023, its current liabilities increased by 89% to UAH 344.79 million, while its long-term liabilities increased by 73.8% to UAH 170.05 million.

Total accounts receivable for the year increased by 92% to UAH 427.96 million, inventories by 24% to UAH 484.65 million, and total assets by 27% to UAH 2 billion 656 million. DnSZ produces various types of turnouts for mainline and industrial transport and subways.

According to the NSSMC, as of the third quarter of 2023, 20.154% of DnSZ shares are owned by Johnen Capital Limited (Cyprus), 5% are owned by Dnipro City Council member Zahid Krasnov, his sons Ruslan and Artem own 10% and 11.228% of shares, respectively, and another 18.2959% are owned by Israeli citizen Victoria Korban (sister of businessman Gennadiy Korban – IF).

Among the shareholders who own more than 5% of the shares of DnSZ JSC are also the chairman of the board Sergiy Taranenko (almost 10%), Iryna Taranenko (8.658%), and CFO Valeriy Kryachko (7.3%).

As reported, in 2022, the plant slightly reduced its net profit by 2021 to UAH 335.8 million, while net income fell by a third to UAH 1 billion.

In the first half of 2023, the plant reduced its net profit by 13.7% compared to the same period in 2022 to UAH 72.48 million, while net income increased by 47.6% to UAH 564.6 million.

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Export changes in % to previous period in 2022-2023

Export changes in % to previous period in 2022-2023

Source: Open4Business.com.ua and experts.news

“DTEK Energy” has produced first two shearers for mines

“In January 2024, DTEK Energy produced the first two shearers for Ukrainian mines – a tunneling machine and a shearer.

“It is important that factory workers do not lose momentum in the difficult conditions of war and continue to contribute to the common cause… This year, the miners’ task remains unchanged – despite the war, to maintain coal production at the maximum and sufficient level,” Ildar Saleev, the company’s CEO, wrote on his Facebook page on Tuesday.

According to him, in addition to shearers, the energy holding’s machine builders also manufactured and repaired 90 units of mining equipment, as well as 67,000 parts and components in January.

As reported earlier, DTEK’s machine builders manufactured 15 new roadheaders and shearers and 1.1 million spare parts for Ukrainian coal miners in 2023.

“DTEK Energy ensures a closed cycle of electricity generation from coal. The installed capacity of thermal power generation amounted to 13.3 GW as of January 2022. The company has established a full production cycle in coal mining: coal mining and enrichment, machine building and maintenance of mine equipment.

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Slavgorod Reinforcement Plant increased net profit to UAH 19 mln in 2023

Slavgorod Reinforcement Plant (SARP, Dnipro region) ended 2023 with a net profit of UAH 18.93 million, up more than four times year-on-year in 2022.

According to the announcement of the general meeting of shareholders of SAZ to be held on March 22, the issue of profit distribution is on the agenda.

The draft resolution of the meeting on this issue provides for the profit to be left at the disposal of the company “to be used for statutory purposes”. There are no plans to accrue or pay dividends.

According to the information prior to the announcement, as of the beginning of 2024, the company’s retained earnings amounted to UAH 20.35 million (UAH 1.42 million a year earlier).

During the year, SAS managed to reduce its current liabilities by 2.1 times to UAH 25.89 million, and no long-term liabilities appeared. The value of the company’s assets decreased by 16.8% to UAH 46.83 million, in particular due to a 46% decrease in total receivables to UAH 7.1 million.

The agenda of the meeting also includes the report of the supervisory board, approval of the results of financial and economic activities, approval of the report of the audit company AF Financier, and amendments to the charter.

According to the NSSMC, as of the third quarter of 2023, Promarmatura PrJSC (Dnipro) owns 53.5661% of SAZ PrJSC, and Interbranch Assembly Base Generalmashkontrakt PrJSC owns 22.0307%.

Promarmatura JSC, which specializes in the production of hydraulic and pneumatic equipment, is owned by its director and chairman of the supervisory board of SAZ, Ihor Mezhebovsky, and Oleksandr Chelyadin (50% each). In 2022, the company generated UAH 155 million in net income.

The authorized capital of SAZ PJSC is UAH 0.045 million, the nominal value of a share is UAH 0.25.

According to the website, at the meeting on December 15, 2023, the shareholders decided to increase the authorized capital of SAZ JSC by UAH 1.375 million through the placement of additional shares (without a public offer).

Slavgorod Valve Plant was founded in 1926 as a cast-iron valve manufacturing company. Today, it specializes in manufacturing steel pipeline equipment (shut-off, control, and condensate traps) and completing it with flanges. It also produces fixtures for securing mine workings in coal mines, forging and stamping for parts of automotive and agricultural machinery.

According to the company’s 2022 financial statements, its net profit amounted to UAH 4.59 million, compared to a loss of UAH 0.58 million a year earlier, with net income growing by 15% to UAH 35.13 million.

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OKHMATDET Hospital and St. Nicholas Church in Kiev will be illuminated to remind Ukrainians of their struggle with rare diseases

75% of Ukrainians with rare diseases remain in Ukraine despite the war, while 25% are abroad. On the International Day of Rare Diseases, which is celebrated in the last days of February, Kiev will talk about support for orphan patients and look for a solution on how to create equal European conditions of support and treatment for patients with rare diseases in conditions of full-scale war.
On Tuesday, February 27, Kiev will host a panel discussion with 40 experts. The discussion will be attended by representatives of Eurordis, European Parliament, ERN, European doctors and patient communities, representatives of the Ukrainian authorities, Ministry of Health, NHSU, State Enterprise “Medical Procurement of Ukraine”, representatives of health departments and administrations from the regions, representatives of manufacturers of innovative medicines, expert doctors in orthopaedic areas and representatives of public organizations.
The discussion will be webcast in two languages: Ukrainian and English.
Venue: Hyatt Regency (5 Alla Tarasova Street, Kyiv).

Moderators of the event: Elena Filinyuk (SAFEMed) and Tetyana Kulesha (OS “Orphan diseases of Ukraine”).
The discussion will start at 10:00

“We realize that in the conditions of a big war it is difficult to talk about support for certain groups of the population. But in Ukraine there are orthane patients who are fighting, there are patients who are volunteering, there are relatives of patients who are volunteering or have gone to the front. Orphan patients have to live in a double war: for the life of the country, and for their own, – says the chairman of the OS “Orphan diseases of Ukraine” Tetyana Kulesha, – In addition, patients who are now abroad, started to receive therapy there, they will not return home, where there is no such treatment”.
During the public discussion they plan to touch upon such issues as:
– priorities of the state policy on providing Ukrainian orphan patients with treatment,
– the possibility to receive care through NHS packages,
– introduction of mobile palliative care,
– access to the latest medicines and therapies,
– European experience useful for Ukrainian orphan centers, for orphan doctors and many other issues.
At the end of the day at 18:00 two landmark buildings in Kiev – Okhmatdet NDSB and St. Nicholas Church – will be illuminated with colored lights, which has already become a tradition of Rare Diseases Day celebrations. In this way, the organizers want to remind a wide range of people about the need for treatment and support for orphan patients.

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Register of gambling addicts grew 8 times in year

99% of gambling addicts put themselves on the “black list”

The number of gambling addicts is growing from year to year. Currently, Ukraine has a register of problem gamblers – people who are restricted from accessing gambling facilities and participating in gambling. According to the Commission for Regulation of Gambling and Lotteries (CRGL), 3,871 people have been included in the list over the three years of its existence. The vast majority – 87% of them – were added to the list in 2023.

3.7 thousand people are on the Register of Gambling Problems as of the beginning of 2024.

Since its inception, 3871 people have been included in the list. The vast majority – 87% of them – were included in the list in 2023. Over the past year, the number of gambling addicts on the list has increased 8 times.

Over the past two years, 171 people have been excluded from the Register due to the expiration of the restrictions. Of these, 60 people were excluded in 2022, and another 111 – last year.

99% of the individuals were included in the Register at their own request for self-restriction. Only 1% were included in the Register by the decision of the HQCJ. At the same time, no one was included in the Register by a court decision.
Context.
Currently, Ukrainians can be included in the Registry of Gambling Addicts in three cases: by applying for self-restriction on their own, by a decision of the CRAIL based on a request for restriction from relatives, and by a court decision. Thus, Ukraine does not have clear statistics on the actual number of citizens with gambling addiction, and the figures from the relevant register do not reflect the full picture.

It is important to note that only temporary bans on visiting gambling facilities are provided for gambling addicts in Ukraine – for a period of six months to three years. Upon expiration, these restrictions are automatically terminated.

It is also worth noting that in December 2023, Law 9422 was adopted, which prohibits the issuance of loans to gambling addicts included in the Register. However, this restriction is valid only if the list indicates that the person used credit funds for gambling.

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