Kernel-Trade in May 2021 topped the list of the largest recipients of budget value added tax (VAT) refunds with an indicator of almost UAH 1.67 billion, while in the past month there was no information on refunds, according to the data on the website of the State Treasury.
According to the report, the top three also included two metallurgical enterprises: PJSC ArcelorMittal Kryvyi Rih with an indicator of almost UAH 1.05 billion compared to UAH 556.2 million in April, as well as Zaporizhstal with UAH 583.8 million against UAH 700.9 million, respectively.
Agricultural exporter Suntrade, leading in April, received UAH 519 million of budgetary VAT refunds in May, which is almost half the previous figure of UAH 950.8 million, according to the statistics of the agency.
The top five largest recipients of budget VAT refunds also included Mariupol-based Illich Metallurgical Plant, affiliated with Metinvest Group, which in a month slightly reduced the figure from UAH 500 million in April to UAH 465.6 million in May.
The top ten largest recipients of budget VAT refunds in May also included ADM Ukraine with UAH 403.2 million (there was no information on refunds in April), Nibulon with UAH 314.5 million (UAH 298.4 million), AT Cargill with UAH 253.8 million (almost UAH 159 million).
They are followed by Dniprovsky Metallurgical Plant with UAH 251 million (UAH 251.2 million) and Poltava Mining and Processing Plant (GOK) with UAH 239.2 million (UAH 212.8 million), which have practically not changed their indicators for the month.
The Ministry of Foreign Affairs of Ukraine and the State Service for Food Safety and Consumer Protection have agreed on the form of an export veterinary certificate for the supply of small livestock to Kuwait with the relevant authority of this country, according to a posting on the website of the State Service for Food Safety and Consumer Protection.
“Ukrainian producers engaged in breeding and raising small livestock are able to compete in the global market. The opening of the Kuwait market for the export of small ruminants creates additional opportunities for them. For our part, my colleagues from the Ministry of Foreign Affairs and I will continue opening new export markets,” Head of the authority Vladyslava Mahaletska said.
The form of this certificate is posted on the website of the State Service for Food Safety and Consumer Protection.
As reported, in May, the State Service for Food Safety and Consumer Protection agreed on the form of an export veterinary certificate for the supply of milk and dairy products to Kuwait.
Over the past six months, in April, eight new markets were opened for Ukrainian exporters, 63 commodity items were repeatedly approved in 11 states and international economic organizations. Markets in Japan, Libya, Argentina and Lebanon were opened for milk and dairy producers. Domestic producers were able to supply eggs to Ethiopia, animal protein to Serbia, and cattle to the UAE. The export of arachnids (insects used to protect agricultural crops) is open to the Lithuanian market.
Ukraine should remain a transit country for Russian gas, and Berlin expects the transit agreement with Russia to be extended, the German government’s official representative, Steffen Seibert, told reporters on Monday in Berlin.
“It remains central for the German government that Ukraine remain a transit country even following the completion of construction on Nord Stream 2. There is a transit agreement,” Seibert said.
The representative said that the current transit agreement “is valid at least until 2024, though the agreement envisages that the parties will review the possibility of extending the agreement until 2034.”
“We expect the agreement to be extended,” Seibert said.
Commissioning of housing in Ukraine in January-March 2021 increased by 20.5% compared to the same period in 2020, to 2.306 million square meters, the State Statistics Service has reported.
At the same time, it is clarified that the data are given taking into account the housing introduced in accordance with the temporary procedure for the acceptance into operation of houses built without permission to perform construction work.
According to the report, since the beginning of the year, 1.609 million square meters have been commissioned in cities (70% of the total), 697,600 square meters in rural areas. At the same time, 43% of the total volume of housing was commissioned in single-family houses, 56.6% – in houses with two or more apartments, 0.4% – in dormitories.
In general, during the reporting period, 30,371 apartments were commissioned, while in cities – 24,100 apartments, in villages – 6,200 apartments.
The average apartment area was 75.6 square meter, while in single-family houses – 158 sq m, in multi-apartment buildings – 54.2 sq m.
In Kyiv, Lviv, Kharkiv, Odesa and Ivano-Frankovsk regions, according to the results of the first quarter, 56% of the total housing volume was commissioned. Moreover, in Kyiv – 145,000 square meters (6.3%).
According to statistics, a decrease in the volume of housing commissioned was recorded in Sumy, Rivne, Kyiv, Ivano-Frankivsk and Volyn regions.
Consolidated revenue of Metinvest B.V. (the Netherlands), the parent company of the international vertically integrated mining and metallurgical group Metinvest, in January-March this year increased by 43% compared to the same period last year, to $3.624 billion.
According to the published preliminary unaudited consolidated results of the company’s financial statements, adjusted EBITDA for the first quarter was $1.462 million, which is 3.92 times higher than in the same period last year ($373 million). The margin was 40% (15% in Q1, 2020).
It is noted that Metinvest’s consolidated revenues rose by 43% which is driven primarily by higher selling prices of steel and iron ore products in line with global benchmarks. In addition, the Group increased sales volumes of flat products by 6% y-o-y, as a result of a recovery in demand in several strategic markets for the Group, as well as recently implemented investments.
Metinvest also boosted pellet shipments by 34% y-o-y, amid higher pellet premiums globally.
During the reporting period, revenues in Ukraine increased by 30% y-o-y, to $947 million. This was mainly due to higher average selling prices of steel and iron ore products, as well as higher sales volumes of iron ore products (up 17%) and coke (up 18%). The share of Ukraine in consolidated revenues edged down by 3 percentage points (p.p.) y-o-y, to 26%.
Sales to other markets increased by 48% y-o-y, to $2.677 million in the first quarter of 2021, accounting for 74% of total revenues. Sales to Europe surged by 54% y-o-y, primarily amid higher steel and iron ore selling prices. In addition, sales volumes of cast iron, flat products and pellets rose by 32%, 28% and 51%, respectively. As a result, the region’s share in overall revenues increased by 3 p.p. y-o-y, to 35%.
Revenues from the Middle East and North Africa (MENA) region rose by 48% y-o-y, mainly amid higher steel selling prices, as well as greater shipments of pig iron (up 29%), slabs (up 73%) and flat products (up 4%). The region’s share in consolidated revenues remained unchanged at 18%.
Sales to Southeast Asia increased by 9% y-o-y, amid higher iron ore selling prices despite practically no shipments of semi-finished and finished steel products to the region. Southeast Asia’s share in consolidated revenues declined by 2 p.p. y-o-y, to 8%.
Revenues from the CIS rose by 20% y-o-y, primarily as a result of higher selling prices for flat products. Meanwhile, the region’s share in consolidated revenues declined by 1 p.p. y-o-y, to 5%.
In the first quarter of this year, consolidated EBITDA was $1.462 billion, which is 3.9 times higher compared to the same period last year. This was primarily driven by an increase in the Mining segment’s contribution of $676 million and in the Metallurgical segment’s contribution of $494 million. In addition, corporate overheads decreased by $2 million, while eliminations increased by $83 million.
The increase in consolidated EBITDA was primarily attributable to higher average selling prices for steel and iron ore products, the effect of which on sales of Metinvest’s goods totaled $778 million. Higher prices also improved earnings from resales (up by $23 million) and the contribution of both joint ventures (up by $216 million).
In the first quarter of this year, the Group’s consolidated EBITDA margin increased by 25 p.p. y-o-y, to 40%. The Metallurgical segment’s EBITDA margin rose by 16 p.p. y-o-y, to 24%, while that of the Mining segment climbed by 38 p.p. y-o-y, to 75%.
The Ministry of Foreign Affairs of Ukraine will make every effort to find alternative markets for the sale of their goods to Ukrainian companies affected by the sanctions of Belarus, Ukrainian Foreign Minister Dmytro Kuleba said.
“We certainly calculated that Belarus would want to do something in return, and we were ready for this scenario … Any Ukrainian company that suffers from Belarusian sanctions should immediately contact the Ministry of Foreign Affairs, and we, together with the trade representative of Ukraine will make every effort to find an alternative market for selling goods of this company,” Kuleba said on the air of Savik Shuster’s Freedom of Speech (Svoboda Slova) program on Ukraine TV channel.
Earlier on Friday, Deputy Minister of Economy, Trade Representative of Ukraine Taras Kachka said that Belarus was introducing a 6-month individual licensing regime for a number of Ukrainian goods imported to that country.
