Net consolidated loss of PJSC Motor Sich (Zaporizhia) under international financial reporting standards (IFRS) in January-March 2020 totaled UAH 220.91 million, which is 54% more than a year ago.
According to financial statements of Motor Sich posted on its website on Tuesday, net revenue in Q1 2020 fell by 3.7%, to UAH 2.057 billion.
According to the results of January-March 2020, the unconsolidated net loss of the enterprise amounted to UAH 219.59 million, which is 36.3% more than in the same period of 2019, and net income decreased by 3%, to UAH 2.05 billion.
Motor Sich also said that in 2020, when carrying out foreign economic activity, the enterprise faced problems with obtaining permits from the State Export Control Service of Ukraine.
According to the balance sheet, in the first quarter, the volume of finished products increased by 7.9% to UAH 1.52 billion, and building in progress – by 3.7%, to UAH 11.38 billion.
Accounts receivable for the reporting period increased by 0.5%, to UAH 1.27 billion, and cash decreased by 34.9%, to UAH 491.9 million.
Due to the loss, retained earnings decreased in January-March this year by 1.1%, to UAH 18.93 billion. Long-term bank loans increased 15.7%, to UAH 194.6 million and short-term grew by 9.7%, to UAH 704.3 million.
PJSC Motor Sich is one of the world’s largest manufacturers of engines for aircraft, as well as industrial gas turbine units. It delivers products to more than 100 countries.
PJSC Energomashspetsstal (Kramatorsk, Donetsk region), owned by Russia’s Atomenergomash (Rosatom state corporation), outputted products for UAH 2.26 billion in 2019, which is 6% less than the same indicator in 2018, and sold almost 86% of output for UAH 1.94 billion.
The enterprise said in a statement on its website on Monday, April 27, that such figures were given in the report of General Director of Energomashspetsstal Vitaliy Hnezdytsky at the general meeting of shareholders on April 23.
“Despite the decline in demand in the foreign and internal markets, increased competition from Asian manufacturers, the presence of excess capacity in Eurozone enterprises, PJSC Energomashspetsstal manages to preserve the accumulated potential and maintain a stable economic condition. The enterprise managed to output products almost at the level of last year,” the press service said, citing the general director’s report.
He said that there were some 59,300 tonnes of liquid steel [5% less than in 2018], some 3,200 tonnes of cast products (6.7% more), some 37,900 tonnes of forgings (7% less) produced in 2019.
“There were 85.8% of manufactured products amounted to UAH 1.940 billion sold in 2019. The main consumers were Germany, Kazakhstan, China, Finland, the United States, France, Poland, Romania, Belgium and others. There was entry into the gross products market of the United States, Brazil and Mexico,” the general director said in the report.
According to the report, the enterprise regularly pays salaries, and the average salary amounted to almost UAH 18,800 UAH in February 2020, which is 24% more than in February 2019.
The shareholders determined the output and sale of products in the amount of UAH 3.71 billion in 2020.
According to the Energomashspetsstal report in the disclosure system of the National Securities and Stock Market Commission, the shareholders also elected a new composition of the supervisory board, which included eight former members and instead of retired Yuriy Yatseniuk, who was a member of the supervisory board from 2011, introduced Kateryna Taruta [daughter of the MP and former governor of Donetsk region Serhiy Taruta] as a representative of the Cyprus EMSS Holdings Limited.
Energomashspetsstal is the largest Ukrainian manufacturer of special cast and forged products of individual and small-scale production for metallurgy, shipbuilding, energy (wind, steam, hydro, nuclear), and general engineering.
Watsons drogerie chain is launching the click & collect service in 36 stores of the chain, plans to expand its operation throughout Ukraine.
“This technology has a number of advantages that greatly simplify the shopping process, including free delivery, fast and safe order receipt and time saving. In addition, the click & collect service compensates for the ban on the sale of certain categories of goods due to the toughening of lockdown measures, as in the online store all categories are open to buyers,” the company said in a press release.
According to the statement, customer pickup is available from 36 retail outlets of the chain, but in the near future it is planned to connect all Watsons stores to the project.
Watsons is the largest chain of beauty and health products stores in Ukraine. The chain has more than 400 stores and 16 pharmacies in more than 100 cities.
The Hungarian low-cost airline Wizz Air on July 1, 2020 will open a new base at the Lviv International Airport, where it will place one Airbus A320 aircraft.
“It will become the second airline’s base in Ukraine. In addition, Wizz Air announces the opening of seven new routes to Billund (Denmark), Tallinn (Estonia), Lisbon (Portugal), Hamburg (Germany), Szczecin (Poland) from Lviv, and also from Kharkiv to Tallinn and Berlin (Germany),” the airline said on Wednesday.
JSC Ukrgazvydobuvannia in January-March 2020 reduced commercial gas production by 0.4% (by 13.6 million cubic meters) compared to the same period of 2019, to 3.401 billion cubic meters, which was transmitted for the needs of the population and heating companies, the press service of the company said.
Ukrgazvydobuvannia said that it was possible to maintain commercial gas production at last year’s level due to the commissioning of 14 wells, some 158 coil-tubing operations, some 30 overhaul of wells operations and some 29 hydro fracturing operations for three months.
The first deputy director general of the company, Oleksandr Romaniuk, said that the revenues of oil and gas companies will decrease due to reduced demand in the markets, followed by lower oil and gas prices, which will lead to a decrease in investments.
“In addition, due to the coronavirus [COVID-19] pandemic, contractors cannot always follow the contractual terms of work and supplies. Until the end of the year, we will feel the negative impact of these factors on production indicators,” he said.
Romaniuk also said that the recently concluded service contract between Ukrgazvydobuvannia and Expert Petroleum international company will allow involving foreign investment and management practices of the company’s depleted fields in 2020.
The company also continues to modernize its ground infrastructure, in particular it plans to re-equip existing and construct new gas processing plants. Joint projects are continuing with Schlumberger to drill well No. 888 of Shebelynka gas field and Halliburton to rehabilitate wells from an out-of-act ion stock by drilling offshoots.
At least 46 laboratories, including private ones, are diagnosing COVID-19, the Public Health Center said on Facebook on Tuesday.
According to the report, as of April 28, some 98,719 samples were examined by PCR (polymerase chain reaction) in Ukraine.
The Public Health Center notes that persons with suspected coronavirus who had contact with a patient with confirmed COVID-19, patients with pneumonia, health workers (every five days) and patients who recovered (to withdraw a diagnosis) should be tested.
