Metinvest Group’s Zaporizhzhia-based steel and mining enterprises, Zaporizhstal, Zaporozhogneupor, Zaporozhkoks and Zaporizhzhia Foundry and Mechanical Plant (ZLMZ), increased their payments to budgets of all levels by 35% year-on-year in January-September this year, totaling more than UAH 2.1 billion in taxes and fees.
According to the group’s press release on Friday, the most significant payments in terms of volume are the unified social tax and the single personal income tax. A significant share of deductions is also accounted for by the payment of environmental and land taxes and military fees.
“Metinvest Group’s enterprises remain among the largest taxpayers in Zaporizhzhia. In the first nine months of this year, Metinvest’s steelmakers paid almost UAH 700 million to the local budget, a quarter more than last year. Taxes are the basis of the public sector and the foundation for sustainable development of the frontline region. That is why, despite all the difficulties of wartime, our enterprises remain a reliable pillar of Zaporizhzhia,” said Taras Shevchenko, acting CEO of Zaporizhstal.
At the same time, the company’s enterprises in the region systematically implement socially important projects to reintegrate war veterans and support their families, help vulnerable groups of the population, assist in eliminating the consequences of shelling and restore destroyed infrastructure.
As reported earlier, including associates and joint ventures, Metinvest Group increased its tax payments to the Ukrainian budget by 38% to over UAH 15 billion in the first nine months of 2024. Since the beginning of the full-scale invasion, Metinvest has allocated UAH 7.5 billion to help Ukraine and its citizens, including UAH 4 billion for the needs of the army as part of Rinat Akhmetov’s Steel Front military initiative. The Group remains a reliable support for the country in its fight against the enemy.
In 2023, Metinvest’s Zaporizhzhia enterprises paid more than UAH 2.1 billion to the budgets of all levels, including more than UAH 818 million to local budgets. At the same time, under martial law, they waived tax benefits worth more than UAH 350 million in favor of the state.
Taking into account its associated companies and joint ventures, Metinvest paid UAH 14.6 billion in taxes and fees to the budgets of all levels in Ukraine in 2023. Since the beginning of the full-scale war, the Group has allocated UAH 4.8 billion to help Ukraine and its citizens, including more than UAH 2.5 billion for the needs of the army.
In 2022, Metinvest’s Zaporizhzhia enterprises paid about UAH 3.4 billion to budgets of all levels, including almost UAH 820 million to local budgets last year.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are widely known and in demand in the domestic market and in many countries around the world. “Zaporizhstal is in the process of being integrated into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%). Metinvest Holding LLC is the management company of Metinvest Group.
How banks’ profits and taxes have changed this year
UAH 117.63 billion of profit was earned by 62 Ukrainian banks after taxes for 9 months of 2024, according to the NBU. This is 7% more than last year. Privat continues to lead the way in terms of earnings, accounting for 41% of the total profit of banks. MTB Bank showed the best growth – 13 times over the year.
Ukrainian banks earned UAH 117.63 billion in profit, net of taxes, in the first 9 months of 2024. Despite the tax rate that increased from 18% to 25% this year, this is 7% more than last year: UAH 109.85 billion.
63% of the profit among all financial institutions went to state-owned banks. This is mainly due to the earnings of PrivatBank: UAH 48.35 billion or 41% of the total profit of all banks. Over the year, Privat’s profit grew by 11%.
In September, another Ukrainian bank became state-owned, Motor Bank. Currently, 2 out of 7 state-owned banks are unprofitable
Banks with foreign capital accounted for 23% of the total profit – UAH 27.32 billion. Only 1 out of 14 foreign banks currently suffered losses of UAH 139.57 million – Pravex Bank.
Raiffeisen remains the leader in the group: UAH 6.15 billion of profit (the same as in the same period last year).
Private banks made UAH 16.25 billion in profit. Their profits increased by 22% over the year. FUIB accounted for one third of the group’s earnings – UAH 5.18 billion. Over the year, the bank’s profit decreased by 9%.
MTB Bank had the largest increase in profit among all banks: by 13 times, up to UAH 603.59 million.
https://opendatabot.ua/analytics/banks-2024-9
In January-October this year, Ukrainian enterprises reduced imports of lead and lead products by 12.9% to $777 thousand (in October – $27 thousand).
Exports of lead and lead products decreased by 21.7% to $9.780 million (in October – $1.279 million).
Exports of lead and lead products in 2023 increased by 23.5% to $14.778 million.
In addition, in 2023, Ukraine reduced imports of lead and lead products by 65.2% to $989 thousand.
Lead is currently mainly used in the production of lead-acid batteries for the automotive industry. In addition, lead is used to make bullets and some alloys.
In January-September 2024, Universalna Insurance Company (Kyiv) collected UAH 1.893 billion in gross insurance premiums, which is 29.4% more than in the same period in 2023, net premiums showed an increase of 28.6% to UAH 1.805 billion, according to the website of the Standard Rating Agency.
The agency has updated the credit rating/financial strength (reliability) rating of Universalna Insurance Company at uaAAA on the national scale based on an analysis of its performance for the specified period.
According to the published data, revenues from individuals increased by 25.26% to UAH 836.892 million, and from reinsurers – by 6.16 times (by UAH 6.912 million) to UAH 8.251 million. At the same time, despite a significant increase in premiums from individuals in the first nine months of 2024, legal entities prevailed in the company’s client portfolio.
Insurance payments sent to reinsurers in the reporting period increased by 48.35% to UAH 90.569 million. The ratio of reinsurers’ participation in insurance premiums increased by 0.62 percentage points to 4.79%.
The volume of insurance claims paid by Universalna for 9 months of 2024 increased by 29.89% to UAH 614.721 million compared to the same period in 2023. The claims ratio increased by 0.12 percentage points to 32.48%.
In the first three quarters of 2024, compared to the same period in 2023, the insurer’s operating profit increased 2.4 times to UAH 185.572 million, and net profit increased by 67.81% to UAH 184.175 million.
As of November 1, 2024, its assets increased by 22.76% to UAH 1.806 billion, equity – by 24.88% to UAH 924.555 million, liabilities – by 20.61% to UAH 881.576 million, cash and cash equivalents – by 2.65 times to UAH 457.796 million.
RA also notes that as of the reporting date, the insurer’s equity exceeded its liabilities by 4.88%. The portfolio of current financial investments in liquid instruments amounted to UAH 1.155 billion and consisted of bank deposits (UAH 810.461 million) and government bonds (UAH 344.836 million), which was 1.83 times higher than the insurer’s liabilities.
Universalna has an international shareholder base, in particular, the European Bank for Reconstruction and Development owns 30% of the shares and Fairfax Financial Holdings Limited – 70% of the shares.
Fairfax Financial Holdings Limited (Canada) is a holding company that, through its subsidiaries, is primarily engaged in accident insurance, property insurance and investment management.
The Ukrainian industrial company Interpipe intends to strengthen and expand its presence in the Gulf countries, especially in Saudi Arabia, and has gathered more than 170 regular and potential customers in Dammam.
According to the company, Interpipe is constantly developing trusting relationships with existing and potential partners and customers, and on November 13, with the support of its regular partner Al-Sayed Center, it held another event for customers in Saudi Arabia. The conference brought together 216 participants from 177 local companies.
It is noted that the conference in Dammam was attended by Ambassador Extraordinary and Plenipotentiary of Ukraine to the Kingdom of Saudi Arabia Anatoliy Petrenko, who spoke about Ukraine. Given the ongoing war in our country, government support helps to assure customers of production stability.
As stated in the information, Saudi Arabia is an important and promising market for Interpipe to increase the company’s share in the pipe segment for the construction industry. The company has been operating in the KSA since 2011 as an approved supplier of pipes for fire extinguishing, cooling and water supply systems in addition to truck wheels under the KLW brand. Some of the well-known projects Interpipe has been involved in over the years include the construction of the King Abdullah Financial District, King Fahd Medical Center and Suleiman Al Habib Hospital in Riyadh, King Abdulaziz International Airport near Jeddah, and the Riyadh Metro.
“We are open to further developing our economic ties in the region. The main goal of the conference in Saudi Arabia was to familiarize potential local customers with our product portfolio, as well as to find new opportunities to expand cooperation with Interpipe’s regular customers. In addition to pipe sizes and steel grades, the participants were interested in investments in production and logistics,” explained Artem Artemov, Director of Pipe Sales in the Middle East.
“Interpipe is a Ukrainian industrial company that manufactures steel pipes and railway products. Its products are supplied to more than 50 countries through a network of sales offices located in key markets in the Middle East, North America and Europe. In 2023, Interpipe sold 387 thousand tons of pipe products and 95 thousand tons of railway products. Rail products are sold under the KLW brand.
Interpipe employs about 9.5 thousand people. The number of employees serving in the Armed Forces of Ukraine or other law enforcement agencies is 950. In 2023, the company transferred UAH 4.4 billion to the budgets of all levels. The ultimate owner of Interpipe Ltd is Ukrainian businessman and philanthropist Victor Pinchuk and his family members.
The weather in Ukraine on Sunday, November 17, is expected to be without precipitation, with fog in Transcarpathia and Prykarpattia at night and in the morning, the Ukrainian Weather Center reports. Southwest wind, 7-12 m/s, gusts of 15-20 m/s in the Carpathians.
Temperatures at night from 4° C to 1° C, in the Carpathians and Transcarpathia 0-5° C; during the day 5-10° C.
No precipitation in Kyiv on November 17. Southwest wind, 7-12 m/s. The temperature will be 1-3° Celsius at night and 7-9° Celsius during the day.
According to the Borys Sreznevsky Central Geophysical Observatory. On November 17, the highest daytime temperature in Kyiv was 16.7° in 2002, and the lowest nighttime temperature was -15.6° in 1902.
On Monday, November 18, in the western, northern, Vinnytsia, Kherson regions and Crimea, there will be light rain with sleet in some places.
In Transcarpathia and Prykarpattia, there will be fog in some places at night and in the morning.
Southwest wind, 7-12 m / s, gusts of 15-20 m / s in the highlands of the Carpathians.
Temperatures at night will be from 3° C to 2° C, during the day 3-8° C; in the southern part at night 1-6° C, during the day 6-11° C.
In the Carpathians, there will be light snow at night and moderate snow during the day. The temperature at night will be 1-6° below zero, during the day around 0°.
No precipitation in Kyiv on November 18. Southwest wind, 7-12 m/s. The temperature will be 0-2° C at night, 5-7° C during the day.
