Business news from Ukraine

Business news from Ukraine

Producer of sparkling wine “Artweineri” finished 2022 with net loss of 77 mln hryvnias

The net loss of PJSC Artweineri (formerly Artemivsk Winery, Kyiv), whose main facilities are located in Bakhmut, in 2022 was UAH 77.29 million, while the company finished 2021 with a net profit of UAH 47.17 million.
According to the company’s announcement of the annual meeting of shareholders on April 24, as a result, if at the end of 2021 the undistributed profits of Artvineri was UAH 75.46 million, then in 2023 the company met with uncovered losses of UAH 1.83 million.
The PJSC plans at the meeting of shareholders to compensate for the losses incurred by the company in 2022 at the expense of retained earnings, and to cover the losses not covered by it at the expense of future years’ profits.
According to the information, Artweineri’s assets decreased by 21% last year, to UAH 705.72 mln, including fixed assets – by 12.8%, to UAH 115.14 mln.
The company managed to decrease the total accounts receivable by 2.6 times to UAH 132.8 mln and reduce the current liabilities by 20% to UAH 445.92 mln, while maintaining a small long-term debt of UAH 7.1 mln.
In addition, the company increased its reserves by 2.4% to UAH 392.49 mln and free cash by 3.4 times to UAH 50.68 mln.
“Artweineri is one of the largest East European producers of sparkling wines by traditional bottling methods. Its capacity was 25 mln bottles annually. The company’s TMs are Krym, Artemovskoye, Krimart, Charte and Soloking. The company has export experience in more than 20 countries.
“NV Business” reported last September that Artvineri’s plant and warehouses in Bakhmut were mothballed, while the company set up bottling of the five most popular varieties of Artemovskoye at the production facilities of Tairov Winery’s partners.

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Ukraine sends 150 thousand tons of wheat to Asia

Ports “Chernomorsk” and “Pivdenniy” within the framework of “grain initiative” on Monday sent 150 thousand tons of agricultural products by three vessels to Asian countries, the Ministry of Agriculture said on Monday.
“In particular, the bulk carrier ASL Ileana with 54,600 tons of wheat for Bangladesh,” the ministry pointed out.
The ministry said that Bangladesh remains a key consumer of Ukrainian wheat: since the beginning of the “grain initiative” the country has received more than 710 thousand tons of wheat from Ukraine.
“These volumes could have been higher if the Russians had not purposefully slowed down the inspection of ships in Turkey,” the ministry stressed.
According to the Ministry, there are an average of six inspections per day for both entry and exit ports, or half of the approved plan. In the Bosphorus, 94 ships are waiting for their turn to be inspected by the Joint Coordination Center (JCC).
A total of 848 vessels have left the ports of Greater Odessa since August 1, exporting 25.9 million tons of Ukrainian food to Asia, Europe and Africa.
“The Grain Deal” was concluded in Istanbul on July 22, 2022. The UN, Russia, Turkey and Ukraine signed two documents – on the creation of a corridor for the export of grain from three Ukrainian ports (Chornomorsk, Odessa and Pivdennyy) and on the removal of barriers to the export of Russian food and fertilizers for a period of 120 days with the possibility of extension.
On March 18, when the initiative was set to expire again, the UN said it would be extended. It did not specify any timeframe, but the Turkish press, citing claims by the Ukrainian side, reported that it was “an extension of 120 days,” while the Russian side insisted that the initiative had been extended for only 60 days.

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Vietnam plans to increase period of visa-free stay of tourists from 15 to 45 days

Vietnamese Prime Minister Pham Minh Tinh has instructed to prepare amendments to the law on entry, exit and transit of foreigners and to extend visa-free stay for them from 15 to 45 days, according to Vietnam Net.
“The majority of cabinet members agreed with the proposal to increase the visa-free stay in Vietnam for tourists from a number of countries from 15 to 45 days, and the period of stay on an online visa from 30 to 90 days,” the publication writes.
Currently, Vietnam offers a single-entry electronic visa for a month for tourists from 80 countries.
Vietnam has become one of the first countries in Southeast Asia to fully open to international tourism after the pandemic coronavirus. Last year, only 3.6 million tourists visited the country, 20% of the pre-pandemic level.
In 2023, Vietnam plans to welcome 8 million foreign travelers.

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“Multiplex-Holding” received 8.6 mln UAH of net profit

PJSC “Multiplex-Holding” (Kiev), which develops a network of cinemas Multiplex in Ukraine, at the end of 2022 received UAH 8.6 million net profit, while 2021 ended with a loss of UAH 47.3 million.
According to the company announcement in the information disclosure system of the National Securities and Stock Market Commission (NSCM) about the annual general meeting of shareholders on April 28, the profit is planned to be used to replenish working capital.
According to preliminary data, the uncovered loss of Multiplex-Holding decreased slightly last year and amounted to UAH 378.6 mln. Total accounts receivable increased by 86% up to 299 million UAH, current liabilities increased by 4% to 1.13 billion UAH, while the long-term liabilities at the end of the year were absent.
Last year, fixed assets of PJSC decreased by 18% to UAH 399.5 mln, inventory – by 41% to UAH 27.2 mln. The value of assets in 2022 increased by 6.4% to UAH 841.7 mln.
According to the meeting agenda the shareholders also plan to approve the loan agreement with FUIB with the possibility of obtaining individual loans of up to UAH 100 mn for a term of up to five years and a loan rate of no more than 30% per annum.
As reported, the net loss of “Multiplex-Holding” in 2021 was UAH 47.3 million, in 2020 – UAH 187.6 million.
Multiplex-Holding was founded in 2003. At the end of 2022 the network consisted of 29 cinemas, eight of which suffered varying degrees of damage due to the Russian military aggression.
According to the NKTSBFR, the shareholders of CHA for the fourth quarter of 2022 were “AMC Contador” PVNZIF “Avior” (13.9%), “AMC Capital Group” PVNZ “Capital Record” (11%) and PVNZ “National Capital” (7.6%), “Investrotbud” (9.8%), and “ZNVKIF “Vasat” (49%).
According to Opendatabot, Ksenia Trofimenko is the ultimate beneficiary of Multiplex-Holding.

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In eight regions of Ukraine significant power outages due to bad weather

Significant consumer outages are taking place in eight regions in western and southern Ukraine as a result of bad weather (stormy wind and snow and rain), which caused damage to distribution system operators’ (DSO) networks, the NEC Ukrenergo said.
According to its update in the Telegram channel, these are the Volyn, Lviv, Zakarpattya, Rivne, Khmelnytskyi, Ternopil, Chernivtsi and Odessa regions.
The company noted that repair teams of distribution system operators (DSOs) are working to repair the damage and restore power supply.
In addition, consumption restrictions are applied in Zhytomyr region due to significant damage to the networks as a result of repeated attacks of the Russians. The situation with power supply along the front line also remains difficult, where, in particular, on Monday, Russian shelling damaged the OSR networks in Kharkiv, Zaporizhzhia and Kherson regions.
In general, the power system due to lower temperatures consumption is slightly higher than on Monday, nevertheless, the production of electricity is enough to cover it, confirmed the NEC.
Also, Ukrenergo reported the completion of Tuesday’s emergency work and the connection of 5 pieces of critical equipment at various sites on its backbone networks.
“This allowed to eliminate some grid limitations and increase the reliability of power supply in certain regions,” the NEC said in a statement.
At the same time, the company noted that such work in peacetime would have involved the reconstruction of several substations and would have lasted several months. The company thanked its Lithuanian colleagues for providing part of the equipment for the restoration.
As previously reported, the Ministry of Energy also reported about power outages on Tuesday due to bad weather in the western regions of the country.

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Ukraine to increase sown areas for onions, carrots and other vegetables – minister

Ukrainian agrarians in 2023 plan to increase sown areas under onions, carrots and other vegetables, which will allow for a larger than in 2022 harvest, First Deputy Minister of Agrarian Policy and Food Taras Vysotsky said.
“The Ministry of Agricultural Policy and Food is working to fill the market and stabilize prices. This should be done not through regulation or limitation but through market mechanisms. Because regulation of prices, as practice shows, is realized in the shadow turnover,” – said the official on the air of the marathon “Unified News”.
Speaking about the current prices of vegetables, Vysotsky said that the prices of vegetables are the highest in spring, which is explained by the seasonal factor.
In addition, according to him, their cost was affected by two other factors. “First, the energy crisis created by the aggressor country prevented a large part of the harvest from being saved. Second, many vegetables, primarily onions and carrots, were grown in the Kherson and Zaporozhye regions. Because of the occupation of these regions, vegetables were not available to Ukrainian consumers,” Vysotsky said and expressed confidence that prices would go down with the arrival of the new crop.
According to Gosstat, prices for vegetables in Ukraine for the year to the beginning of March rose by 36.2%, fruit – by 74.9%, while inflation was 24.9%.

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