Milkiland, a dairy group with assets in Ukraine and the Russian Federation, ended January-September 2020 with a net loss of EUR 29.03 million, which is 2.5 times more than in the same period in 2019.
According to the group’s report on the Warsaw Stock Exchange, Milkiland’s consolidated revenue decreased by 54.6%, to EUR 43.98 million in the nine months of 2020, as a result of a noticeable drop in the Russian segment of the group’s business. Gross profit decreased by 52.4%, to EUR 6.33 million, and operating loss by 50%, to EUR 9.46 million.
In the reporting period, Ukraine was the largest geographic segment for Milkiland, providing 59% of the group’s revenue (an increase of 19 percentage points compared to the same period in 2019). The segment’s revenues decreased by 33% to EUR 26 million, mainly due to lower sales volumes of the Ukrainian subsidiaries and lower export volumes.
The Russian Federation accounted for 41% of the group’s revenue in January-September 2020, compared with 57% for the corresponding period last year. The segment’s revenue decreased by 66.7%, to EUR 17.97 million, mainly due to a drop in sales of the Russian subsidiaries.
Whole-milk dairy was the largest segment in term of revenue, providing for 39% of revenue in the nine months of 2020 (9 percentage points down from the same period last year). The segment’s revenue decreased by 63%, to EUR 17 million, due to lower sales in Russia and Ukraine, partially offset by the appreciation of the main operating currencies against the euro.
Sugar production in Ukraine as of November 16 amounted to 702,900 tonnes.
According to a report on the website of the National Association of Sugar Producers Ukrtsukor, as of the indicated date, 30 sugar factories were operating in the country, which have processed 5.34 million tonnes of sugar beets.
As reported with reference to Ukrtsukor, the sugar beet processing season in the country started on September 5.
Sugar production in Ukraine in 2020 is projected at 1.2 million tonnes, which is 15% less than a year earlier.
As of November 12, 2020, Ukrainian agricultural producers harvested 6.7 million tonnes of sugar beets from an area of 161,600 hectares (75%).
Ukraine since the beginning of the new 2020/2021 marketing year (MY, July-June) and as of November 16 had exported 18.74 million tonnes of grain and legumes, which is 3.6 million tonnes less than on the same date last MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, to date, 11.29 million tonnes of wheat, 3.51 million tonnes of barley and 3.58 million tonnes of corn were exported.
As of November 16 of this year, 65,500 tonnes of flour were also exported.
As reported, Ukraine exported a record 57.2 million tonnes of grain, legumes and flour in the 2019/2020 MY, which is 13.5% more than in the previous MY.
The number of requests from Lithuanian enterprises for business development in Ukraine, search for new partners has increased, Ambassador of Lithuania to Ukraine Valdemaras Sarapinas has said.
“From our own experience, we can say that now we see an increase in requests from Lithuanian enterprises for business development in Ukraine, searching for new partners. By the way, the same can be said about Ukrainian enterprises. We observe especially great potential in the introduction of electronic services, as Lithuania has vast experience in this area and is ready to share it with Ukraine,” Sarapinas told Interfax-Ukraine.
He also said that a reduction in the supply chain can also reveal new opportunities for both Lithuania and Ukraine.
“Lithuania can also become an excellent platform from which Ukrainian enterprises can significantly increase their exports to the West. By way of example, I can cite Kormotech company, which moved part of its activities to Lithuania, and this made it possible to take advantage of the EU financial policy and increase its competitiveness in Europe and other markets,” the diplomat said.
At the same time, Sarapinas said that Lithuanian business in Ukraine is faced with such problems as non-transparency of the judicial system, unequal conditions of competition, and administrative pressure on business.
“I am not a businessman, so I can only convey the position that I hear when communicating with our entrepreneurs: Lithuanian business, as, by the way, investors from other foreign countries or local Ukrainian entrepreneurs face the same problems, namely, the lack of transparency of the judicial system, different conditions of competition, administrative pressure on business. In the area of combating these problems, Lithuania and other Western partners are ready to share their experience,” he said.
The ambassador also said that there are several large Lithuanian companies that are now planning investment projects in Ukraine, however, negotiations are underway on this matter.
“It was recently announced that the Novus retail chain, which is operated by the BT Invest investment company, is buying 35 Billa stores. This is the fairly large investment: according to market analysts, the deal is worth about EUR 65 million. There are also few more large Lithuanian companies that are now planning investment projects in Ukraine, however, now it would be better to refrain from commenting, since negotiations are underway,” he said.
The wife of Ambassador of the United Arab Emirates Sheikh Al-Kaabi donated over 5,000 rapid tests for coronavirus (COVID-19) infection to Kyiv.
As deputy head of Kyiv City State Administration Maryna Khonda said, these tests will be transferred to Kyiv orphanages and nursing homes for the elderly.
“Unfortunately, the pandemic did not recede. In the spring, when the phase of strict quarantine was underway, an outbreak of coronavirus was detected in Darnytsia orphanage boarding school for girls. Fortunately, everything went well, but in order to prevent such outbreaks in the future, we need to quickly and promptly identify disease and respond to cases of infection. These rapid tests will be sent to Sviatoshyn and Darnytsia orphanages, as well as to Kyiv geriatric boarding house and Kyiv boarding house of labor veterans. Thus, we will be able to control outbreaks of COVID-19 among people who are in the so-called ‘risk zone’, and not to allow further spread. I am very grateful to the Embassy of the United Arab Emirates for this assistance,” the press service of Kyiv City State Administration said.
It is noted that 724 people live in these four institutions: in orphanages 239 children with disabilities aged from seven to 35 years of various disorders, in geriatric institutions 485 people of retirement age.
National bank of Ukraine’s official rates as of 17/11/20
Source: National Bank of Ukraine
