Public joint-stock company Ukrtelecom saw net profit of UAH 867 million in 2017, which is 44.3% more than in 2016, Ukrtelecom CEO Yuriy Kurmaz said at a press conference in Kyiv on Wednesday.
He said that after the audit of the company conducted in 2017, the earlier published figure for net profit for 2016 was changed from UAH 244 million to UAH 601 million.
Kurmaz said that net revenue of the operator grew by 1.7% in a year, to UAH 6.654 billion.
Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 4.9%, to UAH 1.867 million, EBITDA margin – by 1.8 percentage points, to 28.1%.
Capital investment fell by 0.7%, to UAH 948 million.
Kurmaz said that the data is presented, taking into account the stop of operations on the occupied areas of Donetsk and Luhansk regions.
Ukrtelecom is the largest fixed communications operator in Ukraine.
VEON Ltd. (Amsterdam), the global provider of communications and Internet services with more than 240 million customers, has authorized the incumbent president of Ukraine’s largest mobile operator Kyivstar, Peter Chernyshov, to manage the Eurasia business unit. “Chernyshov, being the head of the Eurasia business unit, will be responsible for the VEON business in Armenia, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Ukraine, and Uzbekistan, remaining the president of Kyivstar, one of the most successful operating companies in VEON Group,” the report reads.
VEON noted Chernyshov has a great international experience of work at high management posts. In particular, he had headed Carlsberg Ukraine for several years. Later he became vice president responsible for Carlsberg Group’s work in six countries of Eastern Europe. According to the group, this staff reshuffle was made within the framework of transformation of the corporate structure aimed at creating a balanced distribution of roles and tasks between the headquarters and operating companies.
Ukraine since the beginning of the 2017/2018 agricultural year (July-June) and as of February 14, 2018 had exported 25.123 million tonnes of grain.
According to the Ministry of Agrarian Policy and Food, the country exported about 12.6 million tonnes of wheat, some 4 million tonnes of barley and 8.5 million tonnes of corn.
In addition, 287,600 tonnes of flour had been exported as of February 14.
As reported, with reference to the ministry, Ukraine in the 2016/2017 agri-year exported 43.9 million tonnes of grain.
According to the ministry’s forecasts, grain exports from Ukraine in the 2017/2018 agri-year will amount to 41 million tonnes.
Public joint-stock company Ukrgazvydobuvannia, the subsidiary of natioanl joint-stock company Naftogaz Ukrainy, boosted natural gas production by 4.4% in 2017, to UAH 15.25 billion, and this year the company seeks to increase it to almost 16 billion cubic meters (bcm), Ukrainian Prime Minister Volodymyr Groysman has said.
“I think that this year we will be able to increase production [of natural gas by Ukrgazvydobuvannia] to almost 16 bcm. We now have 15.25 bcm, and it will be more than 16 bcm next year,” the prime minister said, opening the government meeting on Wednesday and summing up the implementation of the government’s program over the past year.
He recalled that in 2016, a drop in natural gas production by state-owned companies was seen.
“We must ensure the production of at least 20 bcm of Ukrainian gas by 2020,” Groysman said.
Ukraine has come close to the completion of negotiations on mutual recognition of documents and visa-free regime with the Republic of Korea following a visit of the delegation of the Interior Ministry, which ended on Tuesday, Interior Minister Arsen Avakov said.
“During a brief visit to Seoul, the delegation of the Interior Ministry managed to discuss a number of key cooperation issues. At a meeting with the interior minister, the general commissioner of police, the head of the Presidential Council, we did our work to conclude negotiations on the package on the mutual recognition of personal documents of citizens, driving licenses and visa-free regime for citizens of Ukraine,” Avakov wrote on his Facebook page.
At the same time, he noted “high motivation and interest of the Korean side in cooperation with Ukraine”, including in the industrial and technical areas, space programs, infrastructure and agricultural projects.
According to Avakov, on Thursday the Interior Ministry, together with the Foreign Ministry, held a coordination meeting of the services on the implementation of the agreements reached.
“Do we need a visa-free travel with the 11th economy of the world? The question is rhetorical! I am very glad that we managed to come close to an agreement on this issue… We will do our best so that in a short while each of you reading these lines should have an opportunity to learn this first hand – by using the visa-free travel with South Korea for business or travel purposes,” Avakov added.
The European Bank for Reconstruction and Development (EBRD) has issued a $50 million loan to Nibulon LLC to finance the expansion and modernization of the company’s grain logistics infrastructure in 2018-2019.
The corresponding agreement was signed at the EBRD office in Kyiv on February 15, 2018.
The financing will consist of an A loan of up to $40 million provided by the EBRD and a B loan of up to $10 million, which will be syndicated by commercial banks.
The loan will be used for the three-year investment program of Nibulon, which includes, inter alia, the construction of three new grain terminals, the expansion of the flotilla, including a new floating crane, tugboats, barges and a self-propelled dredging vessel, as well as the construction of a storage facility of 42,000 tonnes, a berth on a barge and a new railway at Mykolaiv terminal. It will allow increasing the volume of cargo transportation by inland waterways to 4 million tonnes per year, as well as raise grain exports to 8 million tonnes per year.
The EBRD said the loan is provided for a period of seven years.
