Business news from Ukraine

Business news from Ukraine

“Zelenyi Park” increased production by 25% in January and August

Zelenyi Park LLC (Izyaslav, Khmelnytskyi region), which produces corrugated paper (fluting) and containerboard, increased its production by 24.8% in January-August this year compared to the same period in 2023, to UAH 357.3 million.
According to statistics provided by Ukrpapir Association to Interfax-Ukraine, the company slightly accelerated the growth rate of this indicator over the first eight months of the year, up from 22.2% over the first seven months.
In January-August, production in physical terms increased by 10.8% to 20.25 thousand tons. At the same time, in August, the company increased production of fluting and test liners by 12.6% by August 2023 and by 52% by July this year – up to 3.43 thousand tons.
Green Park LLC was registered in 2011 and manufactures products from waste paper.
The factory is equipped with Finnish Valmet equipment, which allows it to produce fluting and testliner with a density of 70 to 200 g/sq m and a roll width of up to 2.8 m.
According to the Clarity Project, the owner of 100% of Zelenyi Park LLC is Cyprus-registered Carton Mill Limited, and the ultimate beneficiaries are Kyiv resident Volodymyr Shandra and co-owner of ATB Corporation Gennadiy Butkevych.
The company ended 2023 with a loss of UAH 78.2 million (56% higher than a year earlier) on a 6.8% drop in revenue to UAH 498.6 million, and in the first half of this year increased revenue by 58.4% to UAH 258 million in January-June 2023, but suffered a loss of more than UAH 47 million.

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TAS Insurance Group increased payments by 54%

In January-August 2024, TAS Insurance Group (Kyiv) paid UAH 1.253 billion under the concluded insurance contracts, which is 53.8% more than the amount of the company’s indemnities for the first eight months of last year, according to the insurer’s website.
More than a quarter of the total amount of payments, or 27.4%, accounted for hull insurance – UAH 343.7 million, which is 35.1% higher than the corresponding figure for 8 months. In 2023, 33.1%, or UAH 414.3 million, was accounted for by MTPL (+33.3%), 21.5%, or UAH 269.6 million, by Green Card (+98.4%).
The share of VHI in the company’s claims portfolio amounted to 14.4%, or UAH 179.9 million (2.04 times more) over the past eight months.
Under property insurance contracts, TAS IG paid UAH 7.34 million (+49.7%) in the reporting period.
Under other insurance contracts, the company paid UAH 37.9 million (+84.1%).
TAS Insurance Group was registered in 1998. It is a universal company that offers its clients more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.

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Switzerland to allocate 58.7 mln francs for digitalization of Ukraine

In 2024-2028, the Swiss Agency for Development and Cooperation (SDC) will allocate 58.7 million francs for the digitalization and development of Ukrainian regions, including the digitalization of healthcare, education, humanitarian demining, and electronic notary.
According to Mykhailo Fedorov, Deputy Prime Minister for Innovation, Education, Science and Technology and Minister of Digital Transformation, this is stipulated in a memorandum signed on Wednesday.
“I met with Felix Baumann, Ambassador of Switzerland to Ukraine. The main result of the meeting is the signing of a memorandum for 58.7 million francs ($68.1 million) with the Swiss Agency for Development and Cooperation (SDC),” Fedorov wrote in a telegram.
According to him, the funds will be allocated during 2024-2028 and will be used for the digitalization and development of Ukrainian regions, with projects implemented under the EGAP program implemented by the Eastern Europe Foundation. “We are focusing on the digitalization of healthcare services, electronic notary, education, humanitarian demining, and we continue to restart the State Statistics Service. Part of the funds will be used to support the frontline regions, and it is important to ensure access to public services in every community,” Fedorov listed the areas of use of the funds.
Fedorov recalled that with the support of the Swiss government, in 2024 alone, they launched an online marriage and a pilot of the Mriya project for 40 schools, and began testing Diia for civil servants. “We held another international Diia.Summit in Zurich, strengthening the international brand of digital Ukraine. It was there that we signed a memorandum on the opening of the Govtech center together with the World Economic Forum,” said Fedorov.
In general, Switzerland has been supporting digitalization since 2015 through the EGAP program, with partners allocating more than 30 million francs.

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Dynamics of import of goods in Jan-June 2024 by most important items in relation to same period of 2023, %

Dynamics of import of goods in Jan-June 2024 by most important items in relation to same period of 2023, %

Open4Business.com.ua

“Slavic Wallpaper-KFTB” increased its wallpaper production by 4%

JSC Slavic Wallpaper-KFTB (Koryukivka, Chernihiv region), a leading Ukrainian wallpaper producer, produced 11.2 million conventional pieces of wallpaper in January-August 2024, up 3.9% compared to the same period in 2023.
According to statistics provided by Ukrpapir Association to Interfax-Ukraine, the company’s output growth rate slowed further in the first eight months of the year compared to the same period last year: it was 8.9% in the first six months and 6.8% in the first seven months.
Also, in monetary terms, the factory’s production volume in January-August increased by 2% to UAH 851.5 million.
In August, the company produced 1.32 million meters of wallpaper, which is 13.8% less than in August-2023 and 15.8% less than in July this year.
The EBA has no data on wallpaper production in Ukraine in January-August 2024, as the State Statistics Service has stopped providing it.
As reported, in 2023, Slavic Wallpaper-KFTB increased its wallpaper production by 19% compared to 2022, to 16.2 million meters, production volume increased by 38.2% to UAH 1 billion 249 million, and net profit increased almost eightfold to UAH 47.7 million.
Earlier, the company noted that as a result of Russian aggression, sales volumes, especially through retail channels, had significantly decreased.
JSC Slavic Wallpaper-KFTB produces more than 10 types of wallpaper from the economy segment (paper, duplex, acrylic) to premium wallpaper (vinyl, non-woven, hot stamped).
In addition, the factory produces its own latex, water-dispersion paint under the Latex brand.

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UGA names ten largest buyers of Ukrainian wheat in August

Ukraine exported 2.24 mln tons of wheat in August of this year (2024-2025 marketing year), the Ukrainian Grain Association (UGA) reported on Facebook.

According to the published infographic, 492 thousand tons of wheat were shipped to Spain, 426 thousand tons to Indonesia, 240 thousand tons to Vietnam, 191 thousand tons to Algeria, and 146 thousand tons to Egypt. Thailand (96 thsd tonnes), Portugal (82 thsd tonnes), Yemen (61 thsd tonnes), Tunisia (79 thsd tonnes) and Italy (68 thsd tonnes) also became the top 100 buyers of Ukrainian grain.

“Interestingly, in August, Indonesia and Vietnam took the 2nd and 3rd place in terms of imports of Ukrainian wheat, pushing Algeria and Egypt to the 4th and 5th place, respectively,” the association noted.

According to the UGA, Ukraine exported 1.277 mln tons of wheat in the first half of September, which is already higher than the volume for the same period last month, when it amounted to 1.266 mln tons.