Concern-Electron JSC (Lviv) ended 2024 with a consolidated net profit of UAH 56.85 million, which is more than 3.3 times higher than in 2023, according to the concern’s financial statements.
According to the consolidated financial report for 2024 published on the concern’s website, revenue for the past year increased by 34.5% to UAH 749 million.
According to the draft decisions of the general meeting of shareholders scheduled for April 28, the concern plans to allocate UAH 15 million to pay dividends at the rate of UAH 1 per share (par value UAH 3.5).
As reported in 2023, the company paid dividends to shareholders at the rate of UAH 0.5 per share, totaling UAH 8 million out of a net profit of almost UAH 17 million.
The shareholders plan, among other things, to re-elect Yuriy Bubes, President of Concern-Electron, for a new term.
As of the beginning of this year, Concern-Electron’s shareholders numbered 20,448 thousand people, with the following holders of more than 5% of shares: Yuriy Bubes, President and Chairman of the Board (5.6%), Serhiy Medvedev, Chairman of the Supervisory Board (5.05%), Victoria Starodub (11.5%) and Mykhailo Sholomytsky (6.43%).
Concern-Electron Group, in addition to the parent company, includes 12 assets, and employed 669 people at the beginning of 2024 (688 a year earlier). In particular, according to the report, the net profit of the parent company Concern-Electron JSC amounted to UAH 52.14 million (almost 4 times more) on revenue of UAH 0.38 million.
One of the main assets of the concern, vehicle manufacturer Zavod Elektronmash LLC, in which Concern-Electron JSC holds a 55% stake, showed an 87.7% increase in net income to UAH 244 million, and net profit amounted to UAH 0.06 million compared to UAH 0.9 million a year earlier.
Another major asset, Spheros-Electron Plant LLC, a manufacturer of heaters and heat exchangers for cars, in which the parent company holds an 80% stake, showed a 32.5% increase in net income to UAH 221.8 million. At the same time, net profit increased by 19% to UAH 29.6 million.
The group’s top three companies in terms of net income last year also included Innovative and Industrial Enterprise Electron, which leases equipment and vacant premises in office business centers, as well as production and warehouse facilities. The company increased its revenue by 12% to UAH 114.3 million, earning UAH 5.4 million in net profit.
Another major subsidiary, Polymer-Electron Plant (production of plastic and expanded polystyrene products), ended 2024 with a loss of UAH 1 million against a net profit of UAH 1.2 million in 2023, with revenue up 4% to UAH 83.5 million.
Sukha Balka PrJSC (Kryvyi Rih, Dnipro region), a member of Aleksandr Yaroslavsky’s DCH group, ended 2024 with a net loss of UAH 333.856 million, while in 2023 it posted a net profit of UAH 114.837 million.
According to the announcement of the general meeting of shareholders scheduled for April 17 in remote mode, it is expected that the loss in the amount of UAH 333.856 million will be covered by the retained earnings of the company.
The shareholders are to consider 7 agenda items, including the report of the Supervisory Board and the auditor for 2024 and adoption of the relevant decision, approval of the results of financial and economic activities for the specified period and approval of the procedure for covering the company’s losses.
It is also planned to hold elections of members of the supervisory board and amend the charter of the company by setting out and approving a new version.
As reported, in 2022, Sukhaya Balka PrJSC reduced its net profit by 2.7 times compared to 2021 – to UAH 487.878 million from UAH 1 billion 326.460 million.
Sukha Balka mine is one of the leading mining companies in Ukraine. It produces iron ore by underground mining. It includes Yubileynaya and Frunze mines. Frunze mine.
DCH Group acquired the mine from Evraz Group in May 2017.
According to the third quarter of 2024, Yaroslavsky, who is designated as a non-resident of Ukraine (British citizen – IF-U), directly owns 77.4193% of the mine’s shares, while resident individual Artem Aleksandrov owns 20%.
The authorized capital of Sukha Balka PrJSC is UAH 41.869 million, with a share par value of UAH 0.05.
PJSC “Ukrhazvydobuvannya” (Kiev) on March 26 announced a tender for services on insurance of liability of subjects of transportation of dangerous goods in case of negative consequences during transportation of dangerous goods.
As reported in the system of electronic public procurement Prozorro, the expected cost of the purchase of services is 996.834 thousand UAH.
According to the system, the last day for submission of tender offers is April 3.
The U.S. economy expanded at a 2.4% annualized rate in the fourth quarter of 2024, the Commerce Department said in its final report. A smaller rebound of 2.3% was previously reported. Analysts polled by Trading Economics did not expect a revision to the previously announced estimate.
GDP growth slowed from the third quarter, when it was 3.1%.
Consumer spending, which accounts for two-thirds of the U.S. economy, rose 4% in October-December (previously reported at 4.2%). The increase was the highest since the first quarter of 2023. This included a 6.2% increase in spending on goods (previously reported at 6.1%) and a 3% increase in spending on services (up 3.3%).
Government spending growth was 3.1% rather than 2.9%.
Investment in fixed assets fell 1.1% (previously reported down 1.4%). The decline was recorded for the first time since the end of 2022. This included investment in non-residential assets down 3%, while residential investment rose 5.5%. Investment in intellectual property was down 0.5% and equipment was down 8.7%.
Exports were down 0.2% and imports were down 1.9%. Earlier it was announced that the first indicator decreased by 0.5%, the second – by 1.2%.
Corporate profits in the U.S. in October-December increased by 5.9% quarter-on-quarter to $3.312 trillion, after a decline of 0.4% quarter earlier. On a year-over-year basis, corporate profits rose 6.8%.
The PCE Consumer Price Index increased 2.4% in the fourth quarter from the previous three months, the figure was not revised.
The PCE Core index (change in consumer prices excluding food and energy costs), which is closely monitored by the Federal Reserve when assessing inflation risks, rose 2.6%, not 2.7%.
For all of 2024, the U.S. economy expanded 2.8% after climbing 2.9% a year earlier.
Preliminary data on U.S. GDP trends for the first quarter of 2025 will be released on April 30.
The European Union has expanded the sanctions list against Belarus, including seven legal entities and 25 individuals.
The corresponding decision of the Council of Europe was published in the Official Journal of the EU on Thursday.
The list of sanctioned companies includes: Integral, the managing company of Integral Holding (a major manufacturer of microelectronics), Planar (a major manufacturer of microelectronics, including military purposes), the state enterprise Plant of Precision Electromechanics (part of the State Military Industrial Committee of Belarus, according to the EU, produces, including ballistic missiles).
The list also includes SE “Belarusian Lotteries” (part of the Department of Presidential Administration of Belarus, has the exclusive right to organize lotteries), the company “Belbet” (online casino, managed by SE “Belarusian Lotteries”), LLC “Ridotto” (develops applications for online games), LLC “Tsybulka-Bel” (agricultural company, according to the EU, owned by German citizen Jorg Dornau).
The sanctions were also imposed on Sergei Avakov (CEO of Planar), Yuri Chorny (director of the Plant of Precision Electromechanics), Dmitri Shvedko (entrepreneur, majority shareholder and director of Ridotto), Mikhail Denisenko (director of the State Enterprise Belarusian Lotteries).
In addition, sanctions were imposed on the Central Election Commission of Belarus, its members, a number of judges, the manager of the presidential affairs of Belarus, Yuri Nazarov and his deputies.
