The financial plan of JSC “Ukrzaliznytsia” (UZ) for 2024 was approved with a projected loss of 12.6 billion UAH, which will be covered by the implementation of the plan to break-even, the press service of UZ reported on the official website of the company on Monday.
“The Cabinet of Ministers approved the financial plan of JSC “Ukrzaliznytsia” for 2024. Thus, planned income in the amount of 103.2 billion UAH, in particular, net income from the sale of products (goods, works, services) in the amount of 98.6 billion UAH”, – said in the message of UZ.
It is indicated that the company’s EBITDA is planned at the level of UAH 11.8 billion. EBITDA profitability index will amount to 12%.
The costs of UZ in 2024 will amount to 115.8 billion UAH. In particular, it is envisaged that the cost of sales will increase by 13%, mainly due to the need to increase employee salaries and electricity tariffs.
Revenue from freight transportation is expected to amount to UAH 80.1 billion, from passenger transportation – UAH 9.3 billion.
The planned volume of payments to the State and local budgets – 24 billion UAH, which is 5% more than in 2023.
“For the third year in a row we approve the main financial document of the company even before the new year. This time also in a record time”, – are quoted in the message the words of the head of the Board of UZ Eugene Lyashchenko.
He stressed that the approved financial plan does not provide for the attraction of funds from the state budget, the priority of which is the financing of the country’s defense capability.
“Our task remains stable provision of passenger and freight transportation in wartime conditions and financing of necessary investments for support and restoration of railway infrastructure at the expense of own and attracted from international financial institutions funds. In addition, the financial plan provides for an increase in salaries of railway workers”, – said Lyashchenko, noting that the current salaries of UZ employees do not correspond to their real contribution to the defense capability and economy of Ukraine.
The head of UZ pointed out that work on the financial plan was started back in the third quarter, when the work of ports was completely blocked.
“We have already developed our proposals for reaching break-even. In particular, given the trend of the last two months of this year, we have made a more optimistic forecast for cargo transportation. Also, we plan to unify tariffs: make them more transparent and bring them to the European model. We continue to work on cost optimization,” – said Lyashchenko.
UZ said that the financial plan for 2024 forecasts losses at the level of 12.6 billion hryvnias. They will be covered by the developed plan to reach break-even.
In addition, it is planned to utilize capital investments in the amount of UAH 38 billion. In particular, these funds will be used to restore the infrastructure damaged by the enemy and develop crossings with EU countries.
The leaders of the Ukrainian insurance market in terms of collected net insurance premiums in January-September 2023 were: ARKS Insurance Company (UAH 2.378 billion), TAS Insurance Group (UAH 2.601 billion) and Unica Insurance Company (UAH 1.984 billion) (all based in Kyiv).
No. Name of IC Net premiums Growth rate Written premiums Growth rate Assets Reserves
1 ARX 2378 +6.8% 2760 +21.5% 5455 2838
2 TAS 2601 +54.7% 2542 +47.7% 3696 2486
3 UNIQ 1984 +9.4% 2381 +23.8% 4557 2114
4 VUSO 1693 +86.2% 2005 +78% 1726 1087
5 USG 1632 +17.2% 2243 -1.2% 3767 2312
6 INGO 1466 +34.6% 1993 +64.9% 3527 1889
7 Arsenal Insurance 1323 +5.3% 1599 +42.3 2383 1602
8 Universalna 1212 +48.3% 1463 +54.7% 2062 1121
9 PZU Ukraine 1109 +33.1% 1314 +42% 2065 1394
10 Oranta 927.8 +16.2% 1100 +29.6 1535 980.3
11 Guardian 844.5 +57.2% 1010 +60.5% 996.3 699.3
12 Knyazha VIG 825.5 +40.7% 1464 +68.9% 1758 1382
13 Premier Garant Profi 620.4 +26.9 617.5 +25.6% 180.2 19.7
14 Persha 487.4 +59.3% 599.4 +47.7% 926.9 639.9
15 Express Insurance 468.5 +12.5% 511.1 +68.5% 715 360.1
16 Colonnade Ukraine 355.1 +39% 450.2 65.4% 863 337.7
17 Euroins Ukraine 321.3 +9.3% 408 +22.1 1059 647.5
18 Alfa Garant 298.3 +24.2% 330.9 +37.6% 348.3 294
19 Oberig 293 +47.8% 275.1 +30.7% 278.3 186.8
20 UPSC 282.4 -63.9% 359.7 +0.2% 690.1 267
Azerbaijan has been waiting for more than two months for a response from Armenia to official Baku’s comments on the proposal for a peace treaty, Azerbaijani President Ilham Aliyev has said.
“We are waiting for Armenia to respond to our comments on the proposal. We have exchanged proposals on the draft peace treaty several times, but now we have been waiting for more than two months, since September 11, for the Armenian government to respond to us. We want to know their opinion on these comments. But we have not received a response,” Aliyev said in a press statement on Monday.
The Azerbaijani head of state emphasized that the reason is that Armenia “receives bad advice,” in particular from France.
“France plays a very destructive role in the South Caucasus. In fact, Armenia has become a puppet of the French government, and this can pose a serious threat to regional stability,” Aliyev said.
He reiterated that Azerbaijan “does not need any war”. “We fought on our territory, restored justice and international law. But the Armenian government and political establishment are thinking about revenge. And the wrong messages of the French government actually create illusions in the Armenian government, and perhaps in the Armenian public opinion,” that they can launch military aggression against Azerbaijan, the president said.
He emphasized that Azerbaijan is ready for peace. “We are ready for peace, but a just peace based on the recognition of the territorial integrity and sovereignty of both countries. Peace based on common sense and historical justice,” Aliyev said. Earlier, the Experts Club analyzed the political and economic situation in the Caucasus. You can learn more about the prospects for the development of Transcaucasia after the end of the Karabakh conflict in the video on the Experts club channel here: https://youtu.be/reyUMjFBFhU
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In July-September 2023, Ukraine’s largest mobile operator Kyivstar increased its 4G network coverage, built 600 new base stations and modernized 1.5 thousand base stations, its press service reports.
“In the third quarter of 2023, Kyivstar’s team built another 600 new 4G base stations and modernized almost 1.5 thousand mobile base stations. Another 54 settlements were connected to the 4G network. Currently, Kyivstar’s 4G service is available to 94.7% of the population in the government-controlled areas,” the company said in a statement.
It is also reported that Kyivstar’s capital expenditures for this period exceeded UAH 3.7 billion, which is why more than 99% of the communication network in the government-controlled territory is operating normally. The company plans to invest $600 million in the development of new communication technologies over the next three years.
According to the operator, in the third quarter of this year, subscribers increased the use of mobile Internet services by 17.7% compared to the same period last year. At the same time, the number of 4G users grew by 13.1% to 13.7 million, which was made possible by the development of the 4G network and the proposed tariffs with more megabytes.
At the same time, it is noted that the total number of subscribers in the third quarter decreased by 1.1% due to the impact of war factors, including migration outside the country and the temporary occupation of a number of settlements.
According to the press service, Kyivstar continued to develop digital services for online education, health care, and Kyivstar TV digital television services. According to the company, the number of subscribers using multiservice services increased by 21.4% in the third quarter.
In addition, Kyivstar continued to implement charity projects to help subscribers and Ukrainian society. In particular, the project “We live here” is being implemented, which aims to clear the territory of Ukraine of explosive devices. Thanks to the company’s services, UAH 120 million was raised for this project. At the same time, the operator’s contribution directly exceeded UAH 20 million.
Earlier it was reported that Kyivstar would focus on the development of LTE technology (Long Term Evolution is a wireless network with increased requirements and a bandwidth of 10 Mbps or more.) By 2026, the coverage level in Ukraine will be brought up to 98%.
In January-September, VUSO Insurance Company (VUSO, Kyiv) collected about UAH 2.005 billion in insurance premiums, which is 78% more than in the same period in 2022 (UAH 1.126 billion).
According to the insurer’s press release, the improvement in the level of insurance premiums is observed in almost all areas, in particular, VHI by 3.4 times to UAH 391.8 million, travel insurance by 15% to UAH 74.9 million, hull insurance by 70% to UAH 497.4 million, MTPL by 26% to UAH 260.4 million. The total amount of insurance premiums under the Green Card for this period amounted to UAH 171.1 million.
The company also reports that it has paid UAH 679.9 million in nine months, which is 2.1 times more than the same period last year (UAH 324.4 million). In particular, payments under voluntary health insurance amounted to UAH 177.4 million (up 4.9 times), MTPL – UAH 116.6 million (+69%), hull insurance – UAH 189.8 million (+45.5%). The level of payments for the Green Card amounted to UAH 91.8 million, and for travel insurance – UAH 20.2 million.
During this time, the company also announced the launch of updated products, including Medical Concierge, Give Yourself a Life critical illness insurance, and Patriot 2.0 Unlimited hull insurance with military risk coverage.
VUSO Insurance Company was founded in 2001. The company currently has a financial strength rating of uaAA. It is represented in all regions of Ukraine. The company is a member of the MTIBU and the Ukrainian Insurance Fund, a party to the Direct Claims Settlement Agreement and a member of the Nuclear Insurance Pool.
