National bank of Ukraine’s official rates as of 17/03/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of March 17
One troy ounce=31.10 grams
Ferrexpo mining company with assets in Ukraine at the end of 2020 saw $635.292 million in net profit, which is 57.5% higher than in 2019 ($403.293 million).
According to the annual statements published by the company on the London Stock Exchange on Wednesday, its revenue grew by 12.8% last year, to $1.7 billion from $1.507 billion.
Underlying EBITDA rose by 46%, to $859 million (in 2019 it was $586 million). The company increased its net cash flow from operations by 45%, to $687 million ($473 million). Capital investment decreased 17%, to $206 million ($247 million).
Non-executive Chair of Ferrexpo Lucio Genovese said that the year 2020 was one that will be remembered as a difficult time for communities around the world. In response to the global COVID-19 pandemic, Ferrexpo acted swiftly, setting up a dedicated COVID-19 Response Fund in March 2020, approving $2.5 million for supporting local communities, in addition to taking significant measures to protect our workforce.
“Although COVID-19 caused disruption to global iron ore demand patterns, our central geographic location between Europe and Asia, coupled with flexibility our logistics capacity, enabled us to efficiently pivot towards China in 2020, as it quickly emerged from the pandemic with a strong growth focus on metals. The resultant rise in iron ore prices, coupled with the group’s increase in production and cost control, has driven the strong financial performance for the group in 2020,” he said.
Genovese said that through consistent investment and capital management, the group has once again been able to deliver strong financial performance, coupled with shareholder returns. Dividends paid during the 2020 calendar year grew by 26% to $195 million, after re-investing $206 million back into operations and $148 million of debt repayments.
“In light of the Group’s strong operational and financial performance, coupled with the group’s transition to a net cash position and continued healthy iron ore prices, the group is pleased to announce today a further special interim dividend of 39.6 U.S. cents, bringing total dividends paid in respect of 2020 to 72.6 U.S. cents (2019: 19.8 U.S. cents). The Board will consider, as appropriate, whether or not to propose a final dividend in respect of 2020, which if proposed will be put to the group’s AGM,” he said.
As reported, Ferrexpo in 2020 increased its total pellet production by 7% compared to 2019, to 11.218 million tonnes. Concentrate output grew by 5.9%, to 14 million tonnes.
Ferrexpo is an iron ore company with assets in Ukraine.
Ferrexpo owns 100% of shares in Poltava Mining, 100% in Yeristovo Mining and 99.9% in Belanovo Mining.
Ferrexpo is listed on the main floor of the London Stock Exchange.
Structure of import of services for 2020 (graphically).
The new computerized transit system (NCTS) will enter the stage of national application from March 17 after four months of testing at four customs, the State Customs Service said.
“From March 17, traders can independently choose one of two systems for placing goods in transit mode: either NCTS, or the national system for controlling the delivery of goods,” the department said on the Telegram channel on Tuesday.
The State Customs Service explained that the first stage, a pilot project for the use of NCTS, has lasted since November. At this stage, only four customs offices worked with the joint transit system: Volynska, Kyivska, Pivnichna and Odeska. At the same time, the traders who took part in the experiment submitted two declarations at the same time: the transit “T1UA” and the usual “EE”.
From March 17, all customs offices will be gradually connected to the NCTS: the first – the customs offices on the western border, then – the largest internal customs offices and then the rest, the department added.
Ukraine’s accession to the joint NCTS transit system makes it possible to speed up customs procedures when goods pass through the Ukrainian-European border in transit.
Some 20% of graduates are going to enter a foreign university, according to results of the sociological survey “Education in Ukraine: how Ukrainian Schools Survived the First Waves of Quarantine.”
In particular, 32% of respondents believe that they will study better at a top Ukrainian university than in Europe, the USA and Canada, 30% believe that it is necessary to study only in Ukraine, 20% – only abroad, and 20% found it difficult to answer.
Also, 61% of respondents believe that the university is an important space for socialization, finding friends and future partners. Some 49% of respondents believe that a certain stereotype has developed in society that education is a key to success, and another 49% say that the university provides an opportunity to start a business with minimal risk.
The online survey was conducted by the Ukrainian Institute for the Future in partnership with New Image Marketing Group from February 25 to March 4, 2021.
1,353 respondents were interviewed. The statistical error is 3.5%.
