Business news from Ukraine

Ukrainian President Volodymyr Zelenskyy has indicated 12.4 million UAH of income in his declaration for 2023

The President of Ukraine Volodymyr Zelensky released the declaration of the person authorized to perform the functions of the state or local government on property, income, expenses and financial obligations for 2023.

According to the President’s website, “according to the declaration, the income of the head of state and members of his family amounted to 12 million 423 thousand 008 UAH, including income from the sale of government bonds – 7 million 455 thousand 972 UAH”.

The income of Vladimir Zelensky’s family in 2023 mainly consisted of wages, bank interest and income from the provision of real estate for rent. In total, this amount amounted to UAH 4 million 967 thousand 036.

“The increase in income compared to last year was due to the resumption of rent payments. The cash balance of the head of state’s family by the end of last year decreased by almost 2 million 800 thousand UAH. There were no other significant changes in 2023 in terms of assets, real estate, vehicles, etc.,” – reports the website of the President.

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Mayor of Kiev Vitali Klitschko indicated in declaration for 2023 1 million UAH of income

The mayor of Kiev Vitali Klitschko indicated 1 million 3 thousand 636 UAH of income in the electronic declaration of property and income for 2023.

In particular, in 2023, the salary of the mayor of the Ukrainian capital amounted to his entire income – 1 003 636 UAH. He also indicated in the declaration 338.5 thousand UAH, $35.8 thousand and EUR3 in bank accounts, 209.4 thousand UAH, $52.2 thousand and EUR68.3 thousand in cash, as well as $150 thousand and EUR2.2 million lent to his brother Volodymyr.

Klitschko owns an apartment (251.8 square meters) in Kiev, he is registered in his brother’s apartment (43.6 square meters) in Kiev, as well as owns a vacation home (785.5 square meters) and uses a land plot (2.5 thousand square meters) in Lyutezh, Kiev region (previously owned by his wife).

The mayor also owns a motorcycle Fine custom Puncher 2009, a trailer Ironhorse Widebody 2013 and a car Land Rover Discovery 2013 (previously owned by his wife), as well as free use of three cars: 2 Toyota Sequoia 2021 and Toyota Sequoia 2014, which are rented by his brother.

He also declared: an antique mantel clock (Jacques Murray & Co), 7 men’s wristwatches (2 IWC, 3 Frank Muller, 2 Mont Blanc) and a grand piano (Yamaha).

Among other things, together with his brother, he owns several trademarks: “Klitschko”, “KLICHKO” and “KLITSCHKO”.

According to the declaration, Klitschko owns the corporate rights of two charitable organizations: “Charitable Foundation “Future Kiev” and “Charitable Foundation “Klitschko Foundation”.

As reported, Klitschko declared 1 million UAH of income for 2019, 518 thousand UAH of income for 2020, 646 thousand UAH of income for 2021 and 907.7 thousand UAH of income for 2022.

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There are no schedules of emergency shutdowns in Ukraine – Ministry of Energy

On Friday, emergency shutdown schedules were canceled until the end of the day in all six regions – Dnipropetrovsk, Donetsk, Kirovograd, Poltava, Sumy and Zaporizhzhya, where they were applied during the evening peak load due to grid restrictions and insufficient local generation due to damage to power plants by Russian Federation attacks, the Energy Ministry said.

Its message in Telegram on Saturday notes that as of the morning emergency shutdown schedules are not applied anywhere, and hourly shutdowns are in effect only in Kharkiv region for 120 thousand subscribers, the reason for which is significant damage to the equipment of NEC Ukrenergo by Russian attacks and, as a consequence, the inability to transmit the necessary volume of electricity.

As noted on the air of the telethon “United News” chairman of the Board of “Ukrenergo” Vladimir Kudrytsky, the situation in Kharkiv remains difficult, restoration work continues.

“Today the dispatch center “Ukrenergo” also imposed restrictions in this area. They are less than yesterday, since the weekend, but they remain in place. Also somewhat limited power supply to industry in Dnipropetrovsk region, in particular in Krivoy Rog power hub. In Khmelnitsky and Odessa regions there are no restrictions today”, – described the situation the head of the system operator.

According to the Ministry of Energy, currently there is no electricity deficit in the energy system, it works in a balanced way. It added that yesterday at the request of Poland in the energy system of Ukraine supplied electricity from 12:00 to 15:00 hours.

As a result of the UAV attack on Saturday night, the equipment at one of the substations in Odessa region was disconnected, which left about 70 thousand consumers without light for a short period of time

In addition, in Dnipropetrovsk region, high voltage lines were shut down due to the state of the networks – household consumers, industry, and railroads were left without power supply, where train traffic disruptions were recorded. Within half an hour all consumers were supplied with power.

During the day power engineers have resumed power supply for about 151 thousand consumers, including all those de-energized due to bad weather. In particular, about 18 thousand households, de-energized as a result of unfavorable weather conditions in Kirovograd region, have been restored.

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National Bank has ranked Ukrainian financial companies by revenue in 2023

Providing microcredits “Ukr Credit Finance” (TM “CreditKasa”) and “1 Safe Agency of necessary loans” (TM “MyCredit”) received the highest revenue among financial companies in 2023 – respectively UAH 3.12 billion and UAH 2.33 billion, the National Bank reported on its website.

The next three companies were formed by FC “E Groshi Kom”, “Miloan” and “Aventus Ukraine” (TM CreditPlus), whose revenue amounted from UAH 1.66 billion to UAH 1.46 billion.

According to the results of 2022, the leaders in terms of revenue were Finod LLC, engaged in currency exchange and deprived of all licenses by the National Bank in August 2023, and Novapey payment system, the data of which the National Bank stopped publishing after re-licensing of payment systems. The net income of these companies in 2022 amounted to respectively UAH 5.41 and 5.18 billion, while the places from third to fifth were taken by “Ukr Credit Finance”, “Aventus Ukraine” and “E Groshi com” with revenue from UAH 2.50 billion to UAH 1.27 billion.

According to the results of 2023, net income over UAH 1 billion was received by five more companies, of which only one is not from the microcredit market: the network of payment terminals FC “Kontraktovy Dom” (TM “Easypay”), which received UAH 1.38 billion.

Following with relatively close revenue figures – from UAH 1.33 billion to UAH 1.07 billion are Lineura Ukraine (TM “Credit7”), LLC “Maniveo Fast Financial Assistance” (Moneyveo), “Consumer Center” (TM “ShvidkoGroshi”) and “Advance Credit”, which demonstrated the highest growth dynamics by the previous year among the entire top ten – almost 37 times.

Among the leaders, the highest labor costs were incurred by “Consumer Center” – UAH 167.8 million, or 13.6% of revenue, while at “Avans Kredit” they amounted to UAH 29.3 million, or 1.8% of revenue.

According to the NBU data, in 2023 the profitability of companies improved dramatically: of the 40 largest representatives of the market, all, except for the State Mortgage Institution (SMI), ended the year with net profit, which totaled UAH 1.57 billion, while a year earlier there were 15 unprofitable companies.

The leader in net profit among financial companies for the past year was PJSC “Ukrfinzhytlo” – UAH 5.94 billion. It is followed by Ukr Credit Finance – UAH 202.7 million, the State Fund for Entrepreneurship Development, the operator of state support programs – UAH 177.7 million and Bizpozyka – UAH 177.1 million.

Slightly behind was Maniveo Fast Financial Aid, which earned UAH 167.7 mln, which allowed it to partially offset UAH 625.6 mln of the previous year’s net loss.

“Ukrfinzhytlo” also significantly outperformed all and in terms of assets – 60.89 billion UAH, owing the primacy in these two categories to its capitalization at the expense of government bonds.

Avior FC specializing in lending to agrarians is next – UAH 12.05 billion, whose revenue amounted to UAH 125.4 million last year.

The other eight companies in the top ten with assets from UAH 8.68 billion to UAH 3.55 billion had no revenue last year, while salary expenses and net profit were minimal.

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Ukraine will create State Office for development of industrial parks

Prime Minister Denis Shmygal says that in Ukraine will create the State Office for the development of industrial parks.

“We increase our self-sufficiency, strengthen the production and industrial potential. One of the key tools in this direction will be industrial parks. This year we allocate UAH 1 billion for their development,” Shmygal said at a government meeting on Friday.

According to Prime Minister, the Cabinet on Friday approved the procedure for the use of these funds: for the construction of infrastructure of industrial parks, for compensation for connection to networks, for compensation of the interest rate on loans taken for development and investment.

“Also, the State Office for the development of industrial parks will be created. We will use the experience of Singapore, Turkey, Poland to make industrial parks the growth points of our industry and economy,” he said.

In addition, on Friday, the Cabinet of Ministers decided to create two industrial parks.

In particular, one of the parks will be created in Vinnitsa region (investments in its creation will amount to more than UAH 50 million), and the second industrial park will be in Ivano-Frankivsk region, (investments in its creation and development may amount to UAH 1.5 billion).

“Thanks to the creation of these two industrial parks, more than 1,000 jobs in the processing industry will be created,” Prime Minister said.

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Forecast of unemployment rate in Ukraine according to methodology of international labor organization until 2025

Forecast of unemployment rate in Ukraine according to methodology of international labor organization until 2025

Source: Open4Business.com.ua and experts.news