Business news from Ukraine

Business news from Ukraine

Ruslan Sorochinsky and Anastasia Kostiukova win Ukrainian Squash Cup 2023

On November 18-19, the national squash competition “Ukrainian Squash Cup 2023” took place on the courts of the capital’s Sport Life fitness club in Teremky.

Representatives from Kharkiv, Dnipro, Poltava, Odesa, Kherson, and Lviv came to Kyiv. In total, more than 130 athletes took part in the competition, which is an absolute record for the number of players among national squash tournaments held under the auspices of the Ukrainian Squash Federation. The tournament was attended by 16 women, 74 men and 42 juniors.

Anastasia Kostiukova and Ruslan Sorochinsky became the champions in the adult categories, defeating Anastasia Krykun and Nikita Panov in the final matches.

List of winners of the Ukrainian Squash Cup 2023 tournament:
Children under 9 years old:
1st place Tomenchuk David
2nd place Kostiukov Artem
3rd place Zakharchenko Danylo
Girls under 11 years old:
1st place Orlenko Alexandra
2nd place Krasnokutska Daria
3rd place Lysenko Polina
Boys under 11 years old:
1st place Hutsaylyuk Andriy
2nd place Schneider Artem
3rd place Matyukhov Yegor
Girls under 13 years old:
1st place Syvoplias Victoria
2nd place Daria Gerya
3rd place Kukushkina Maria
Boys under 13 years old
1st place Doroshenko Gleb
2nd place Tomenchuk Mykyta
3rd place Tymoshchuk Ivan
Boys under 15 years old:
1 place Shcherbakov Yegor
2nd place Roman Shkarupylo
3rd place Klymenko Mykyta
WOMEN:
1st place Kostyukova Anastasia
2nd place Krykun Anastasia
3rd place Vlasenko Daria
MEN:
1st place Sorochinsky Ruslan
2nd place Panov Nikita
3rd place Petrovych Ruslan

The honorary guests of the Ukrainian Squash Cup were acting Minister of Youth and Sports of Ukraine Matviy Bidnyi, world judo champion, chairman of the NOC of Ukraine’s athletes commission Georgiy Zantaraya, two-time Olympic champion in canoeing Yuriy Cheban, two-time NBA champion with the Los Angeles Lakers Stanislav Medvedenko.

The main organizer of the tournament is the NGO Squash Federation of Ukraine, the main fitness partner of the event is the Sport Life fitness club network, and the main media partner of the tournament is Interfax-Ukraine, Experts club analytical center, prize partners – REIMA, TECNIFIBRE and EYE, medical partner of the tournament – ADONIS clinic network, tournament water – KRAINA, tournament hotel – FAVOR, awarding partner – SHEF restaurant. Thermopab and Lukashuk Dental Clinic were also partners of the tournament.

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Ukrgasvydobuvannya paid almost UAH 20 bln in rent payments to budget

In January-October 2023, Ukrgasvydobuvannya JSC paid UAH 19.85 billion in rent payments, the company’s press service reports.

According to the press service, UAH 992.26 million, or 5%, of this amount went to the budgets of the local and regional levels where the company operates.

From January to October 2023, the budgets of Kharkiv and Poltava regions received the largest deductions – UAH 484.96 million and UAH 415.32 million, respectively.

As reported, in 2023, Ukrgasvydobuvannya set a goal to increase natural gas production by 1 bcm to 13.5 bcm. In 2022, UGV produced 12.5 bcm of natural gas (commercial), which is 3% less than in 2021.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

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Astarta paid UAH 1.84 bln in taxes and fees

Astarta Agro Holding, the largest sugar producer in Ukraine, paid UAH 1.84 billion in taxes and fees to the budgets of all levels in January-October 2023, the company’s press service reported on Facebook.

According to the report, more than UAH 1.08 billion of this amount went to local budgets of territorial communities in Poltava, Khmelnytsky, Vinnytsia, Ternopil, Zhytomyr, Chernihiv, and Kharkiv regions. The agricultural holding transferred over UAH 753 million to the state budget.

“During the full-scale war alone, Astarta transferred over UAH 3.46 billion to the budgets of all levels. We are increasing these volumes from year to year because we are convinced that our taxes support both the budget and the people of Ukraine. This is especially true now, when the lion’s share of budget expenditures is spent on improving the country’s defense capabilities. This is our conscious choice, and I urge all Ukrainian businesses, without exception, to make this decision and pay taxes in good faith under any circumstances,” said Astarta’s founder and CEO Viktor Ivanchyk.

According to the agricultural holding, Astarta, together with Ukrainian and international partners, also continues to implement social initiatives within the Common Help Ukraine humanitarian project. The estimated value of charitable contributions and humanitarian aid provided by the project already exceeds UAH 809 million, of which UAH 56 million was allocated to the development of regional entrepreneurship in the communities where the agricultural holding operates.

“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine. It includes six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, an oil extraction plant in Globyno (Poltava region), seven elevators and a biogas complex.

In the third quarter of 2023, the agricultural holding earned EUR1.24 million in net profit, down 27.7 times compared to the same period in 2022. Astarta’s revenue decreased by 14.4% to EUR104.75 million, gross profit by 2.7 times to EUR26.96 million, operating profit by 7.6 times to EUR6.79 million, and EBITDA by 42.7% to EUR97.25 million.

Due to significantly better performance in the first half of this year compared to the first half of last year, in the first nine months of 2023, net profit decreased by 9.8% to EUR 55.97 million, while revenue increased by 14.8% to EUR 392.00 million. The company’s gross profit increased by 3.0% to EUR 151.91 million, while operating profit decreased by 15.9% to EUR 79.91 million and EBITDA by 10.8% to EUR 116.63 million.

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Kyivstar increased its revenue by 12.1%

In January-September 2023, Kyivstar, the largest Ukrainian mobile operator, increased its total operating income by 12.1% compared to the same period in 2022 to UAH 25.6 billion.

According to the mobile operator’s press service, the company’s EBITDA also increased by 12.5% to UAH 15.5 billion, while the EBITDA margin increased by 0.2 percentage points to 60.6%.

In addition, the company’s capital expenditures in the first nine months of 2023 increased by 8.1% to UAH 3.791 billion.

Total revenue from mobile services amounted to UAH 24.033 billion, up 12.5% year-on-year. Revenue from data services amounted to UAH 13.963 billion (+12.3%). Operating income from fixed-line services increased by 2.6% to UAH 1.447 billion. Revenue from broadband access services increased by 17% to UAH 979 million.

Operating income in the third quarter increased by 13.8% to UAH 8.711 billion. EBITDA increased by 26.2% to UAH 5.54 billion. Capital expenditures decreased by 11% to UAH 1.61 billion.

Total revenue from telecommunications services in the third quarter increased by 14.2% to UAH 8.13 billion, including 16.4% from data services to UAH 4.81 billion. Operating income from fixed-line services increased by 5% to UAH 501 million in the third quarter. Operating income from broadband services increased by 22.6% to UAH 334 million. The number of broadband subscribers increased by 0.6% to 1.1 million in the third quarter, while the broadband APRU increased by 25% to UAH 100. Mobile subscribers’ APRU increased by 15.8% to UAH 112 and MOU by 2.2% to 547 minutes. Mobile Internet usage by subscribers in the third quarter increased by 17.7% to 10.6 Gigabytes per subscriber.

Earlier it was reported that Kyivstar increased its hryvnia revenue by 16.8% in the second quarter of 2023 compared to the same period of 2022 to UAH 8.609 billion (in dollars it decreased by 6.5% to $235 million). During the reporting period, Kyivstar’s EBITDA in UAH increased by 11.6% to UAH 5.085 billion (down 10.7% to $139 million in USD), while its EBITDA margin decreased by 2.9 percentage points to 59%. Kyivstar’s mobile subscriber base decreased by 2.6% year-on-year to 24.1 million as it continued to be affected by the number of Ukrainians living outside Ukraine.

According to the report, in the first half of 2023, Kyivstar’s revenue in UAH increased by 11.2% to UAH 16.956 billion, EBITDA by 6.2% to UAH 10.006 billion, and capital investments by 28.6% to UAH 2.176 billion.

“Kyivstar is the largest Ukrainian telecommunications operator. The company provides communication and data transmission services based on a wide range of mobile and fixed technologies.

Zelenskyy announces intensification of cooperation with Romania and Bulgaria

Prime Minister Denys Shmyhal has informed President of Ukraine Volodymyr Zelenskyy about talks with representatives of Bulgaria and Romania.

“This area of cross-border cooperation is obviously growing now. I thank our partners. This is the work of the sea corridor, the Danube export cluster, and the trade turnover between our countries in general,” Zelensky said in a video message on Monday.

“With Romania alone, we see the potential for growth to 4 million tons of trade by the end of this year. This is very powerful and supports not only our state, not only jobs in Ukraine, but also in partner countries,” the president said.

Zelenskyy is confident that “we will add Romania, Bulgaria, Moldova, and the entire European Union to our cooperation.”

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State Customs Service warns of transition to NCTS electronic transit system from December 1

The electronic transit system NCTS (New Computerized Transit System) Phase 5 will be applied from December 1, 2023, the State Customs Service of Ukraine reported on Telegram on Monday.
“Ukraine continues to confidently prove its ability to fulfill the obligations undertaken when joining the Convention on the Common Transit Procedure: from December 1, 2023, we plan to switch to the use of NCTS Phase 5,” the agency quoted Deputy Head of Customs Vladislav Suvorov as saying.
Earlier, on August 17, the State Customs Service announced the postponement of the start of NCTS Phase 5 for two months (until November 1) to give businesses more time to prepare for the new system and requirements for filling out transit declarations.
At the time, the agency indicated that the transition to NCTS Phase 6 is scheduled for June 2025.
“Despite the military actions, we not only met the deadline, but will also help other countries to pass international testing (Mode 3),” Suvorov said.
According to the National Coordinator for Common Transit, Alina Brendak, the new system is currently being tested with brokerage software developers. She emphasized that NCTS Phase 5 will interact with companies through brokerage software, and the current “Trader’s Portal” will no longer be used.
The State Customs Service noted that in Phase 5, companies will have the opportunity to detail information about goods at the level of house consignment notes (the so-called House Consignment level), which is relevant for consolidated cargo.
In addition, it is noted that the agency will develop new guidelines for companies on entering information in transit declarations, taking into account the specifics of NCTS Phase 5. At the same time, all the rules and principles of common transit and transit simplifications remain relevant and in force.
The State Customs Service is also working on the possibility of providing businesses with an alternative tool for filling out and submitting transit declarations and interacting with the national electronic transit system NCTS Phase 5 – an IT solution similar to the current “Trader’s Portal”, the release said.
As reported, in January 2023, the State Customs Service published specifications for software updates by brokerage software developers (bit.ly/3NwC9pk). In August, national developers were granted access to the ARI to test messaging with NCTS Phase 5. The State Customs Service says it is actively working with the relevant teams to ensure the readiness of brokerage IT solutions.
NCTS is one of the 17 customs IT systems that Ukraine has to implement to join the EU, and so far the only one implemented by Ukraine. The implementation of the IT system involves not only its installation but also its synchronized development together with other countries party to the Convention. The draft law was developed to fulfill Ukraine’s European integration commitments in the customs area, the Ministry of Finance said.
Earlier, roundtables were devoted to customs reform, where the event’s organizer and moderator Maksim Urakin stated that the State Customs Service provides 35-40% of state budget revenues, and these figures have remained stable in recent years. That is why customs reforms are so important for the country.

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