PrJSC United Mining and Chemical Company, which manages Vilnohirsk Mining and Metallurgical Plant (Dnipropetrovsk region) and Irshansk Mining and Processing Plant (Zhytomyr region), in January-September this year increased its net profit by 4.2 times compared to the same period last year, to UAH 424.494 million (against UAH 100.736 million, respectively).
“The company’s net profit, actually received in the first nine months of this year, amounted to UAH 424.494 million, which is more than four times higher than the financial result of last year, which amounted to UAH 100.736 million,” the State Property Fund of Ukraine said in a press release.
At the same time, earlier, with reference to data of the portal of state enterprises, it was reported that UMCC for the nine months of 2019 reduced its net profit by 47.8% compared to the same period in 2018, to UAH 221.040 million from UAH 423.079 million. At the same time, net income for the indicated reporting period increased by 5.8%, to UAH 2.698 billion, and EBITDA amounted to UAH 488.895 million.
As reported, the Cabinet of Ministers of Ukraine on November 18 of this year approved the financial plan of the UMCC for 2020 with a net profit of UAH 575.670 million. At the same time, payments to the state this year from the company should amount to UAH 344.672 million, including income tax some UAH 104.203 million.
UMCC sells its products to more than 30 countries of the world. The main sales markets are the EU, China, Turkey, as well as the United States and African countries.
National bank of Ukraine’s official rates as of 20/11/20
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of November 20
One troy ounce=31.10 grams
Financing of the cultural sphere of Ukraine will grow by UAH 7 billion in 2021 and amount to UAH 27 billion, said Minister of Finance Serhiy Marchenko.
“If we compare this year with 2016, then in 2016 only UAH 10 billion was allocated to the cultural sector, this year it is UAH 20 billion, and next year, due to the active role of the Culture Minister and the support of the President and Prime Minister of Ukraine, the cultural sector will receive funds in the amount of more than UAH 27 billion,” Marchenko said at the forum “Creative Ukraine” in Kyiv on Thursday.
According to the minister, this indicates that the sphere of cultural development is a priority of the state and now, more than ever, it has found strong lawyers. Marchenko also said that significant programs for the development of the cultural infrastructure of Ukraine are planned next year.
“We are talking about financing repairs of museums, libraries, and castles. This program is foreseen for the first time. This will not only increase the tourist potential of Ukraine, it will allow to preserve the existing heritage, expand it, attract investments, fill our cultural objects and business component with content, that will allow in the future, get a synergistic effect in the form of taxes that will be paid,” the minister said.
In his opinion, if the state now invests the required amount of money in cultural infrastructure facilities, in five-seven years these cultural facilities will bring additional taxes and additional jobs.
The volume of marketable output of Kyivsky cardboard paper mill (Obukhiv, Kyiv region), a leader in Ukraine’s pulp and paper industry in terms of production and sales, totaled UAH 4.672 billion in January-October 2020, which is 0.7% more than the same figure in January-October 2019.
According to the statistics of the Ukrpapir association, in kind in January-October the plant slightly (by 0.9%) increased production of corrugated packaging, to 196.36 million square meters, being still second in terms of its production in the country after Rubizhne plant (together with Trypilsky packaging plant).
The rate of growth in the production of base paper for sanitary and hygienic products grew by almost 4.5%, to 71,600 tonnes, and production of toilet paper in rolls slowed down by 0.3%, to 370.75 million units.
Output of cardboard increased 3.5%, to 172,840 tonnes, in particular production of boxboard increased by 26.3%, to 57,230 tonnes, while package cardboard (including paper for corrugation) decreased 5%, to 115,630 tonnes.
Kyivsky cardboard paper mill is one of the largest cardboard and paper producers in Europe. It employs almost 2,200 people. It sells produce to almost 700 companies in Ukraine, some CIS member states and the rest of the world.
The agricultural holding Myronivsky Hliboproduct (MHP) saw a net loss of $47 million in July-September 2020 versus a net profit of $104 million for the same period in 2019.
According to the quarterly financial statements of the holding, published on the London Stock Exchange on Wednesday, its revenue in the third quarter decreased 2%, to $547 million, and EBITDA fell by 3%, to $106 million.
MHP’s gross profit grew by 10%, to $103 million, operating profit – by 40%, to $56 million.
MHP said that over the specified period, export revenue decreased 2.5%, to $309 million, which is 56% of total revenue (in the third quarter of 2019 it was 57% of total revenue).
The agricultural holding explained its net loss indicator for the third quarter of 2020 by a non-cash foreign exchange loss of $61 million compared to a profit of $109 million for the same period in 2019. Thus, net profit before foreign exchange differences in the reporting period of 2020 amounted to $82 million, which is 11% lower compared to $92 million in the third quarter of 2019.
In general, in January-September 2020, MHP’s revenue decreased 6%, to $1.41 billion. MHP saw $109 million in net loss versus $276 million in net profit in the first nine months of 2019, which is associated with a non-cash foreign exchange loss of $191 million in January- September 2020 compared to 9M 2019 profit of $182 million.
EBITDA for the specified period fell by 7%, to $332 million, gross profit – by 7%, to $322 million, and operating profit – by 11%, to $194 million.
MHP CFO Viktoria Kapeliushna told Interfax-Ukraine on Wednesday that the second wave of the coronavirus crisis in Ukraine and Europe did not affect the logistics chains, but the company sees a decrease in demand in HoReCa, which in turn is offset by an increase in demand in other sales channels.
“Because of the coronavirus crisis, we did not revise our plans, but we revised our forecasts. Lockdown affected global prices for chicken, we can feel it,” she said.
Kapeliushna said that the company revised its EBITDA forecast at the end of the year downward. It is expected to be 5-10% below the 2019 level.
“The first nine months of 2020 have been extremely challenging, with the disruptive effects of the COVID19 pandemic, avian influenza in Ukraine which resulted in the temporary closure of some export markets in the first quarter, over-supply and resulting high stock levels in European markets, lower poultry prices globally, crop yields adversely affected by the worst weather conditions in central Ukraine for at least 30 years, and volatile exchange rates,” the MHP said in the press release.
The company said that although the outlook for the fourth quarter is as yet unclear, we expect increasing grain prices and the continuing rebalancing of poultry sales to more profitable export markets to largely offset the effects of lower poultry prices in Europe.
“Longer term, we expect poultry prices in our major markets to adjust gradually in response to increased production costs driven by higher grain prices. The company also expects to derive increasing benefit from its shift towards a more value-added strategy and the development of antibiotic-free products to be sold initially under its Nasha Ryaba brand,” MHP said.
MHP is the largest chicken producer in Ukraine. It is also engaged in the production of cereals, sunflower oil, meat products. MHP supplies the European market with chilled half-carcasses of chickens, which are processed, including at its factories in the Netherlands and Slovakia.
