The amount of income tax and dividends for 2023 that state-owned PrivatBank (Kyiv) transferred to the state budget amounted to almost UAH 50 billion, Yulia Metzger, a member of the bank’s Supervisory Board, said at the International Financial Club BANKIR conference.
“Already in February this year, the Supervisory Board decided that the bank had transferred to the budget an advance payment of dividends and income tax based on the results of the previous year in the amount of almost UAH 50 billion,” she said.
According to the NBU, PrivatBank’s pre-tax profit for 2023 amounted to UAH 72.77 billion, and income tax expenses amounted to UAH 35 billion. According to the government’s decision, 80% (UAH 30.2 billion) of the remaining net profit of UAH 37.76 billion should be used to pay dividends.
As reported, on February 12, Privat transferred the amount of income tax and the first tranche of dividends for 2023 in the amount of UAH 26 billion to the state budget in advance.
PrivatBank is the largest bank in the country, with total assets of UAH 848.64 billion as of March 1, 2024, or 25.9% of the assets of all 63 banks.
ArcelorMittal Kryvyi Rih’s Kryvyi Rih Iron and Steel Works (AMKR, Dnipro region) is gradually increasing production by commissioning idle units and overcoming the consequences of Russian aggression.
“We used to operate at 25% of capacity, but now we are gradually increasing production every day. This, in turn, will lead to an increase in jobs and taxes for our city and the Ukrainian economy,” the press service said on Friday.
It is specified that coke oven batteries No. 3-4 are scheduled to be launched from April 21 to 24 inclusive, which will provide raw materials for the increase in blast furnace production.
“We would like to draw the attention of Kryvyi Rih residents to the fact that during the launch of coke oven batteries, there may be a noticeable emission of smoke. We would like to inform you that the smoke is caused by the technological process of the launch, the situation is safe for the residents of the city,” explains AMKR.
As reported earlier, ArcelorMittal Kryvyi Rih increased steel production by 93% in January-March 2024 to 278 thousand tons compared to the same period in 2023. The company produced 245 thousand tons of blast furnace coke compared to 211 thousand tons (up 16%), 403 thousand tons of pig iron compared to 392 thousand tons (up 3%), 278 thousand tons of steel compared to 250 thousand tons (up 11%), and 262 thousand tons of rolled products compared to 230 thousand tons (up 14%).
Production growth compared to the first quarter of 2023 ranged from 50% to 94%, depending on the type of product.
The first quarter of 2024 also reflects gradual progress in the restoration of the plant’s production capacity.
“We plan to continue our production development program, in particular, to approach 50% of our steelmaking capacity in the near future. At the same time, the stability of energy supply remains a significant factor in the successful implementation of our plans,” said Mauro Longobardo, CEO of AMKR, earlier.
“ArcelorMittal Kryvyi Rih is the largest rolled steel producer in Ukraine. It specializes in long products, including rebar and wire rod.
ArcelorMittal owns the largest mining and metallurgical plant in Ukraine, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Berislav.
Metinvest Mining and Metallurgical Group, including its associates and joint ventures, increased its payments of taxes and duties to the budgets of all levels in Ukraine by 1.7 times year-on-year to UAH 4.2 billion in January-March this year.
According to the company’s press release on Monday, the largest deductions include subsoil use fees, which increased 7.5 times year-on-year to UAH 1.3 billion compared to Q1 2023. The Group also increased its personal income tax payments by 22% to UAH 791 million. In addition, Metinvest transferred UAH 870 million of unified social tax to the budget, which is 20% higher than in Q1 2023.
At the same time, Metinvest’s Ukrainian enterprises paid UAH 407 million in income tax in January-March 2024. Land payments increased by 8% year-on-year to UAH 312 million, and environmental tax by 34% to UAH 182 million.
Yuriy Ryzhenkov, CEO of Metinvest, noted that despite the war in Ukraine and many unfavorable business factors, the Group managed to achieve positive dynamics in payments.
“This is the result of our team’s efforts to improve efficiency in all areas and to adjust the company to the new environment. As the largest taxpayer in the industry, we realize that the economy of the frontline regions and the entire country, as well as the ability to support the army and Ukrainians, depend on our stable operation. And we will do everything to continue to overcome all the challenges of wartime on the way to victory,” the top manager emphasized.
As reported, in 2023, Metinvest paid UAH 14.6 billion in taxes to the Ukrainian budget.
“Metinvest is a vertically integrated group of steel and mining companies. The Group’s enterprises are mainly located in Donetsk, Luhansk, Zaporizhzhia and Dnipropetrovs’k regions.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
Mayor of Hamburg (Germany) Peter Tschentscher (Peter Tschentscher) has arrived on a visit to Kiev and intends to discuss with the mayor of the Ukrainian capital Vitaliy Klitschko the issues of cooperation between the cities.
“Today I am communicating with Vitaliy in the Ukrainian capital about support within the framework of our “Pact for Solidarity and Future”. I would like to meet Kiev, express our solidarity and discuss cooperation between our cities,” Cencher wrote on social media X on Monday.
“The people of Ukraine are resisting Russian aggression with courage, perseverance and great strength. Our support must continue until the war is over and reconstruction begins,” the Hamburg mayor added.
German unmanned aerial vehicle manufacturer Quantum-Systems has opened an unmanned aerial vehicle (UAV) plant in Ukraine, the press service of Quantum-Systems reports.
“The new plant will be the company’s second facility in Ukraine and is expected to employ about 100 people by the end of the year,” the company said in a statement.
According to the information, it will be able to produce up to 1 thousand UAVs per year.
“The new plant is expected to increase production capacity to 1,000 drones per year, including the production of spare parts,” Quantum-Systems said.
It is also indicated that the company will invest up to EUR6 million over the next two years in the production of UAVs in Ukraine.
As reported, Quantum-Systems’ Vector medium-range drones have been in operation in Ukraine since May 2022. So far, 212 systems have been provided with funding from the German government. The company said that 500 UAVs are expected to be delivered to Ukraine by the end of the year.
Quantum-Systems has been operating a service, support, training, and logistics center in Ukraine since last year, employing 25 Ukrainian employees. They train drone pilots and implement technological advances in reconnaissance systems on-site.
Quantum Systems is a dual-purpose company with about 250 employees. The production facility in Ukraine is the fourth of the company’s seven plants located around the world.
Maniveo Emergency Financial Assistance LLC (TM Moneyveo) estimates its share in the online consumer lending market at 13-15% and plans to increase it by 1.5 percentage points (p.p.) this year, including by expanding into the small and medium-sized business (SMB) customer segment, the company’s CEO Sergey Sinchenko said.
“We are considering various strategies to achieve this goal, in particular expanding the customer segment, for example, at the expense of SMEs, increasing awareness of our products and services, as well as improving interaction with existing and potential customers,” he pointed out in comments to Interfax-Ukraine.
According to Sinchenko, Moneyveo’s strategic plans include expanding the range of services, improving customer service processes and developing marketing initiatives. Also, in order to improve cross-functional interaction within the company and involve employees more in decision-making, the lender plans to move from a functional management structure to a process approach, the CEO said.
“We are also focusing on optimizing operational efficiency, developing digital technologies and process automation, and improving personal data protection,” Sinchenko said.
He pointed out that Moneyveo made its last coupon payment in early February 2024 and fully redeemed its UAH100 million Series B bond issue in December 2021, after which its maturity was extended for another year in January 2023 with an increase in its interest rate from 18% to 26% per annum.
“Thus we have demonstrated our ability to effectively use financial instruments and fulfill financial obligations, which confirms our stability and reliability in the financial sphere,” commented Sinchenko.
The company considers the new bond issue as one of the tools to ensure further growth and expansion of its operations.
“The probability of its use will depend on the situation with the growth of activity, the competitive environment of the investment market. Now we are planning an issue in 2024 if the growth in issuance (of loans – IF-U) several months in a row will be at least 10%,” Sinchenko informed.
According to the NBU data, Maniveo Ambulance Financial Assistance LLC’s net revenue for 2023 amounted to UAH 1.30 billion, or 8th place in the market, net profit – UAH 2.66 million. The company’s assets at the end of last year amounted to UAH 600.37 million.
FINANCIAL AID, Fincompany, Moneyveo, online lending, Serhiy Sinchenko
