Myronivsky Hliboproduct (MHP) in the first quarter of 2020 received $174 million in net loss compared to $33 million in net profit for the same period in 2019.
According to the holding’s report on the London Stock Exchange’s website, its revenue increased by 2%, to $443 million, export revenue decreased by 11.6%, to $237 million (54% of total revenue compared to 61% in January-March 2019).
MHP’s operating profit decreased by 6%, to $47 million, gross profit grew by 14%, to $92 million. The company’s EBITDA in the reporting period grew by 16%, to $96 million, EBITDA margin to 22% from 19% in the first quarter of 2019.
“The net loss of $174 million compared with a profit of $33 million for the first quarter of 2019 is associated with $182 million of losses from foreign currency cashless transfers (foreign exchange differences) in the first quarter of 2020,” MHP explained.
Net profit before exchange rate differences in January-March 2020 amounted to $8 million, which is 33% lower than in the same period a year earlier.
MHP’s net debt as of March 31, 2020 amounted to $1.22 million compared to $1.14 million as of December 31, 2019.
In the first quarter of 2020, total capital investment amounted to $21 million and were mainly related to the maintenance and production of Perutnina Ptuj.
Official rates of banking metals from national bank as of June 3
One troy ounce=31.10 grams
The coronavirus epidemic has had a serious impact on the global economy and the travel business in particular. According to forecasts, Ukrainian tourists will have an opportunity to travel safely as soon as the quarantine comes to an end and flight connection is resumed.
The world’s largest tour operator ANEX Tour says that it is already preparing summer tour packages.
“We are ready to ensure high-quality services, safety and the best prices. Today active preparations for the 2021 summer season are underway. Sales of tours to Maldives, Mexico, and Vietnam have started. For the 2020-2021 winter season we together with our airline company Azur Air Ukraine are planning to launch new direct flights to a lot of very popular destinations which have never been offered in Ukraine. Also, we are planning additional flights for October due to a very high demand for the destinations we used to offer before. Thus, we have much more chances to extend the number of destinations for Ukrainian travelers,” Director General of ANEX Tour Ukraine Ilker Adiguzel said.
Structure of import of services in 2019 (graphically)
German Foreign Minister Heiko Maas has praised the adoption in Ukraine of laws on the sale of land and deregulation of the banking sector and assured that Ukraine can count on solidarity from Germany and the EU during the negative impact of the pandemic on the economies of the countries.
“I congratulate you that you have managed to agree with the IMF, that there is a law on the sale of land, that Ukraine is deregulating the banking sector, that is, it continues to follow the path of reform. This is a strong signal, not only political for all international partners, and it’s a sign for the European economy that Ukraine continues to put into effect important reforms, continues to reform the judiciary and implements the recommendations of the Venice Commission,” said Maas at a press conference after talks with Ukrainian Foreign Minister Dmytro Kuleba in Berlin on Tuesday.
The German Foreign Minister noted that there are great economic challenges in connection with the pandemic, but Ukraine can count on solidarity from Germany and the EU. “For me, this has become clear from conversations with European colleagues. I want to emphasize this that the macroeconomic assistance from the EU and also the assistance from our side that we provided to Ukraine emphasize it. In this way we can reduce the negative effect from a pandemic in the economic and medical sector,” added the minister.
In turn, Kuleba thanked Maas for his positive assessment of Ukrainian reforms.
“I want to confirm that Ukraine is determined to continue to change, to introduce the best European standards, to carry out those transformations that will allow us to build a strong economically successful democratic Ukraine, which is part of a European family,” the Ukrainian FM emphasized.
In 2019, the family of President of Ukraine Volodymyr Zelensky sold the UAH 246,144 worth corporate rights to all 12 Ukrainian enterprises to the family of first assistant to the head of state Serhiy Shefir.
“In the spring of 2019, Volodymyr Zelensky got rid of the shares in Green Family Ltd, as well as all four brand names registered in the Russian Federation. He also got rid of corporate rights to Vilhar Holdings Limited and Aldorante Limited foreign companies,” the president’s press service said on Saturday, May 30.
Zelensky continues to be the owner of a large number of trademarks. Thus, in 2019, two Sluha Narodu trademarks (the Servant of the People) were registered in his name.
PricewaterhouseCoopers (PwC) evaluated several trademarks in 2019. According to its report, the cost of Vechirniy Kvartal (Evening Quarter) brand name was UAH 45.81 million. The cost of Rozsmishy Komika (Make Comedian Laugh) brand name was UAH 14.65 million.
“Based on the assessment, Volodymyr Zelensky received royalties from the use of the brand names in the amount of UAH 5.048 million, so his income increased compared to the previous year,” the president’s press service said.
Some UAH 567,875 was spent to pay for consulting services of PwC.
According to the declaration of the presidential candidate of Ukraine submitted by Zelensky in January 2019, at that time he owned 99.99% of the corporate rights to Studio Kvartal-95 LLC (another 0.01% was owned by Olena Zelenska), some 18% to Studio Kvartal-95 LLC, some 100% of the corporate rights to Kinokvartal LLC, some 18.75% to Kvartal-Concert LLC, some 12.5% to Kvartal TV LLC, some 16.7% to producer center Liha Smihu LLC, and some 22.5% to Animation Studio-95 LLC.
He also owned 12.5% of Invest-Anima LLC, some 13% of Gaudi Studio LLC, and some 15% of Fish House LLC (restaurant business).
Olena Zelenska owned another 25% of Zelari Fish LLC (processing and preserving, trade in fish, crustaceans and mollusks).
Zelensky was the ultimate beneficial owner of Kinokvartal LLC, Studio Kvartal-95 LLC, Aldorante Limited (Cyprus), Vilhar Holdings Limited (Cyprus), Film Heritage Inc. (Belize), San Tommaso S.R.L. (Italy), and Megiritano Ventures Ltd (British Virgin Islands).
Olena Zelenska was the ultimate beneficiary of Studio Kvartal-95 LLC, Zelari Fish LLC, Aldorante Limited (Cyprus), Film Heritage Inc. (Belize), and San Tommaso S.R.L. (Italy).
Since 2012 Zelensky had been a shareholder of Megiritano Ventures Ltd (British Virgin Islands) and, together with his wife, they were shareholders of Aldorante Limited (Cyprus), since 2008, he had been a shareholder of Vilhar Holdings Limited (Cyprus).
Later he also filled the declaration with information that since May 28, 2012 he had been a shareholder of Green Family Ltd (Nicosia, Cyprus), which at that time owned the Russian company Green Films. There was information on January 24, 2019 that Zelensky withdrew from Green Family Ltd.
