Business news from Ukraine

Business news from Ukraine

VOLODYMYR-VOLYNSKY POULTRY FACTORY TO PAY UAH 40 MLN IN DIVIDENDS

PrJSC Volodymyr-Volynsky Poultry Factory (Volyn region), one of the largest poultry producers in Ukraine, intends to approve the payment of UAH 40 million in dividends for 2019.
According to a company report in the information disclosure system of the National Securities and Stock Market Commission on the annual meeting of shareholders scheduled for April 28, the remaining part of retained earnings is to be fully used for the development of the company.
As reported, Volodymyr-Volynsky Poultry Farm in 2019 received UAH 131.65 million in net profit, which is 5.8 times more than in 2018. Revenue increased by 10%, to UAH 1.85 billion.
Last year, the company produced 55,250 tonnes of poultry for UAH 1.58 billion. The sales amounted to 49,250 tonnes for UAH 1.78 billion. Exports in total sales accounted for 2.62%.
Volodymyr-Volynsky Poultry Factory is a Ukrainian-Dutch enterprise, one of the five largest producers of chicken in Ukraine, occupying about 6% of the market.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 28/04/20

National bank of Ukraine’s official rates as of 28/04/20

Source: National Bank of Ukraine

STATE-RUN UKRSPYRT LAUNCHES TWO EXTRA PLANTS TO PRODUCE ANTISEPTICS

State-owned enterprise Ukrspyrt has produced and supplied 3.3 million liters of raw materials for antiseptics to Ukrainian companies within three weeks from the start of production. “Over three weeks, Ukrspyrt delivered 3.3 million liters of disinfectant to manufacturers. If we mathematically transfer this to products, then approximately 85 million pocket sanitizers of 50 ml or 17 million of 250 ml can be made from raw materials sold by Ukrspyrt,” the state enterprise said.
Today, raw materials are shipped from 12 Ukrspyrt plants.
“For efficiency, over the past few weeks we have additionally launched two plants in Lviv and Cherkasy regions,” acting director of Ukrspyrt Serhiy Bleskun said.
According to him, now 36 Ukrainian producers of antiseptics are buying raw materials at Ukrspyrt.
As reported, on March 30, the Verkhovna Rada voted for bill No. 3275, which, among other things, allows the manufacture of disinfectants (raw materials for antiseptics) at Ukrspyrt factories, and the president signed the law on April 2.

UKRAINE’S PUBLIC DEBT 10% DOWN IN HRYVNIA, 3.6% IN DOLLARS

The total government debt of Ukraine in March 2020 decreased by 3.62% in dollar terms, to $80.38 billion, and in the hryvnia it increased by 10.15% and amounted to UAH 2.255 trillion, the Ministry of Finance has reported. According to the Ministry of Finance, direct public debt in March this year in dollar terms decreased by 3.71%, to $70.87 billion, while in hryvnias it grew by 9.98%, to UAH 1.988 trillion. In particular, external direct debt in March decreased by 0.4%, to $40.34 billion.
State-guaranteed debt last month increased by 11.33%, to UAH 266.7 billion, in dollars decreased by 2.96%, to $9.51 billion. In particular, external debt fell by 11.23%, to UAH 255.83 billion, in dollars it external guaranteed debt decreased by 2.98%, to $9.12 billion.
Since the beginning of the year, the total public debt decreased by almost 4% in dollar terms and increased by 8.4% in hryvnias, according to the ministry.
As reported, the total and state debt of Ukraine in February decreased due to the weakening of the hryvnia by 1.46% in hryvnias and by 0.02% in dollar terms.

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METINVEST INCREASES REVENUE TO $860 MLN IN FEB

The revenue of Metinvest B.V. (the Netherlands), the parent company of Metinvest mining and smelting group, in February 2020 increased by 4.8%, or $39 million, compared to the previous month, to $860 million from $821 million.
According to the company’s preliminary unaudited consolidated monthly financial statements, EBITDA for February totaled $129 million, which is $56 million more than in January ($73 million), while EBITDA from participation in the joint venture was $10 million (in January $7 million).
According to the report, the adjusted EBITDA of the group’s metallurgical division for February 2020 amounted to $46 million (in January $12 million), including minus $10 million from participation in the joint venture (minus $8 million), the EBITDA of the mining division is $102 million (in January $75 million), including $20 million ($15 million) from the joint venture. The management company’s expenses amounted to $7 million ($6 million).
Total revenue in February consisted of $682 million in sales of the metal division ($681 million in January), mining $248 million ($234 million), and intra-group sales of $70 million ($94 million).
The total debt of the company in February increased by $65 million compared with January, to $3.092 billion from $3.027 billion. At the same time, cash flow decreased by $38 million, to $253 million from $291 million.
The funds used in investment activities amounted to $74 million, in financing activities $71 million.

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KYIV MAYOR KLITSCHKO FIRES HIS DEPUTY

Kyiv mayor Vitali Klitschko has fired his deputy Volodymyr Slonchak, in connection with an incident that happened on Monday night, during which he hit the patrol police inspector.
“I want to inform you that I dismissed deputy chairman of Kyiv City State Administration Volodymyr Slonchak. I think you saw in the news what happened last night. I will not allow the city authorities to be discredited, especially those who represent it,” Klitschko wrote on his Telegram channel on Monday.

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