Business news from Ukraine

Business news from Ukraine

PRESIDENT OF UKRAINE MEETS WITH EMIR OF QATAR

During his visit to the UK, where he takes part in the climate summit, President of Ukraine Volodymyr Zelensky met with Emir of Qatar Tamim bin Hamad Al Thani, during which the issue of enhancing bilateral cooperation between Ukraine and Qatar was discussed.
“Discussed with Tamim bin Hamad Al Thani the intensification of Ukraine-Qatar trade-economic cooperation, the development of military-technical cooperation and the possibility of supplying Qatari liquefied natural gas to Ukraine. Thanked for the assistance in evacuating Ukrainian citizens from Afghanistan,” Zelensky said on Twitter on Monday.

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MOTOR SICH REVENUE GROW BY 25% FOR NINE MONTHS

PJSC Motor Sich (Zaporizhia) in January-September 2021 received UAH 920.03 million of net profit, which is 0.7% less than in the same period in 2020.
According to the interim consolidated financial report of Motor Sich on the website, net income for the nine months of this year increased by 25.9% – to UAH 9.696 billion.
The company’s gross profit increased by 5.4% – to UAH 3.375 billion, while operating profit decreased by 35.4% – to UAH 1.078 billion.
According to the balance sheet, the company’s retained earnings at the end of September reached UAH 19.14 billion.
“During the reporting period, Motor Sich increased the share of sales of new types of equipment in the total volume of sales and continues to work towards achieving the planned profitability indicators of such projects. The diversification strategy of production is expected to offset the decrease in receipts for products that are approaching the end of their life cycle in the long term,” the report says.
According to the report, for the nine months of this year, serial aircraft engines accounted for about 56% of production and sales, and helicopters – about 10.6%. Another 8.2% of production and 7% of sales came from aircraft engine repairs.
Motor Sich is one of the world’s largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to more than 100 countries around the world.

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85% OF KINDERGARTEN EMPLOYEES VACCINATED AGAINST COVID IN UKRAINE

In Ukrainian kindergartens, almost 85% of employees received vaccinations against COVID-19 coronavirus infection, Minister of Education and Science of Ukraine Serhiy Shkarlet said.
“According to operational information from the regions, at least one dose of vaccination against COVID-19 has already been received: about 85% of kindergarten workers; almost 92% of employees of specialized educational institutions. […] almost 76% of workers in specialized institutions and almost 62% of kindergarten teachers have already been vaccinated with two doses,” Shkarlet wrote on the telegram channel on Saturday.
The highest rates of vaccination of kindergarten employees were noted in Ternopil region – 97.7%, Kharkiv region – 95.2%, and in Donetsk region – 92.9% of vaccinated.
The most vaccinated employees of specialized institutions are in Kherson region – 99.2%, Zaporizhia – 97.8%, and Cherkasy region – 97.3% of the vaccinated.
The 80% vaccination threshold for kindergarten staff has not yet been reached in eight regions. Employees of specialized institutions are vaccinated for more than 80% in all regions of the country.

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STATE-RUN UKRPOSHTA INCREASES NET PROFIT BY 2 TIMES

JSC Ukrposhta in January-September 2021 received UAH 131 million of net profit, which is twice as much as in the nine months of 2020 (UAH 60.9 million).
As the company’s press service reported on Monday, the company increased its net income by 23%, to UAH 8.1 billion.
Ukrposhta notes that the company has increased its volumes and revenues in the main areas of business – remittances, written correspondence, payments. The largest increase occurred in parcels. Thus, among domestic shipments, customers most often chose Ukrposhta Express – here volumes increased by 40% and revenues by 50%. In addition, there was a significant increase in international shipments – volumes increased by 55%, revenues – by 66%.
The company’s labor costs for the specified period increased by 17% and amounted to UAH 4.5 billion. The average salary of employees in full-time equivalent compared to nine months of last year increased by 16.5% and amounted to UAH 9,949.
In addition, Ukrposhta paid UAH 2.4 billion in taxes, single social security tax, fees and mandatory payments in January-September.
“The increase in revenue and profit to UAH 131 million [twice as much as in the same period last year] was due to the growth in the level of trust and business volumes from our customers, especially in the segment of parcels that showed the best dynamics. Given the state of the postal infrastructure, profit is not an end in itself. But it allows us to confidently continue the investment projects that we have already begun, which next year will improve the quality of services for customers and will be a powerful impetus in the development of the company,” Ukrposhta CEO Igor Smelyansky is quoted as saying.

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NET PROFIT OF UKRSIBBANK DOWN IN JANUARY-SEPTEMBER

Net profit of UkrSibbank (Kyiv) in January-September 2021 amounted to UAH 990.1 million, which is 2.3% less than for the same period in 2020 (UAH 1.013 billion), according to a quarterly report posted on the bank’s website.
According to it, in the third quarter, UkrSibbank’s net profit amounted to UAH 518.4 million, which is 1.5 times more than in July-September 2020 (UAH 343 million).
The bank’s net interest income (after deductions on credit losses) for nine months increased by 4% compared to the same indicator a year earlier, to UAH 2.6 billion, the net fee and commission income – by 16.7%, to UAH 1.44 billion.
The bank’s assets in nine months increased by 4.2%, to UAH 75.3 billion, including funds in other financial institutions at amortized cost – by 10.6%, to UAH 26 billion, and customer funds – by 20.7%, to UAH 25.4 billion.
Liabilities of UkrSibbank in January-September increased by 3.2%, to UAH 66.15 billion. In particular, customer funds increased by 3.4%, to UAH 65.17 billion.
The bank’s equity capital for nine months increased by 12.1%, to UAH 9.16 billion, the charter capital remained at the level of UAH 5.069 billion.
UkrSibbank was founded in 1990. Its shareholders are BNP Paribas S.A (France), which owns 60% of the bank’s charter capital, and the European Bank for Reconstruction and Development – 40%.
According to the National Bank of Ukraine (NBU), as of September 1, 2021, in terms of total assets, UkrSibbank (UAH 72.836 billion) ranked eighth among 72 banks operating in Ukraine.

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LEVEL OF HOSPITALIZATIONS IN UKRAINE REACHES PLATEAU AFTER THREE MONTHS OF GROWTH

The hospitalization rate of patients with COVID-19 in Ukraine has reached a plateau after a three-month increase, Health Minister Viktor Liashko has said.
“The rate of vaccination in Ukraine is already showing the first positive results. For the sixth day in a row, the level of hospitalizations in Ukraine is on a plateau after more than three months of growth,” he said.
Liashko said that last week in Ukraine they made a record number of vaccinations last week – 1.74 million, and a week earlier – more than 1.5 million.