Premier Palace Hotel (Kyiv) in 2020 received UAH 10.3 million of net profit, while in the previous year net profit amounted to UAH 112.6 million.
According to the message of the company in the information disclosure system of the National Securities and Stock Market Commission on the meeting of shareholders on April 6, net profit per share amounted to UAH 0.007.
Undistributed profit of the hotel slightly decreased to UAH 1 billion.
The total accounts receivable decreased by 26.3%, to UAH 12.7 million, long-term liabilities by 52.8%, to UAH 163 million, while the current ones increased by 87.3%, to UAH 286.7 million.
In general, the company’s assets decreased by 11.7% and amounted to UAH 297.2 million.
The shareholders also intend to use 95% of the profit received in 2020 to cover losses of previous periods, and 5% for the formation of reserve capital.
Premier Palace Hotel is part of the Premier Hotels and Resorts chain managed by Premier International LLC (Kyiv).
Premier Hotels and Resorts (Premier International LLC) unites 17 hotels of categories of three-five stars under the following brands: Premier Palace Hotels, Premier Hotels and Premier Compass Hotels. The hotels are located in Kyiv, Kharkiv, Dnipro, Lviv, Odesa, Poltava, Sumy, Kherson, Pochaiv, Mukachevo (Zakarpattia region), Oleksandriya (Kirovohrad region). The total room supply of the chain is more than 2,100 rooms.
The Verkhovna Rada Committee on Economic Development has recommended the adoption at the second reading bill No. 4543 on unblocking large-scale privatization, while its consideration is planned for next week, Deputy Head of the Committee Roksolana Pidlasa (the Servant of the People faction) told Interfax-Ukraine.
“The committee has just recommended bill No. 4543 on unblocking large-scale privatization for the second reading without changes. It is planned that next week the bill will be considered by the Verkhovna Rada,” she said after the committee meeting on Friday.
According to Roksolana Pidlasa, the law, if adopted, should enter into force the next day after its publication.
“For the first half of 2021, within the framework of large-scale privatization, it is planned to have President Hotel, United Mining and Chemical Company [UMCC], and First Kyiv Machine-Building Plant [previously Bolshevik plant]. There are audit reports on them and the process of preparing for privatization can be started,” the deputy head of the committee said.
As reported, the Verkhovna Rada on February 4 adopted government bill No. 4543, which provided for unblocking the large-scale privatization process.
German Chancellor Angela Merkel will speak at the beginning of the fourth Ukrainian-German economic forum, which will be held on March 19.
“Together with high-ranking speakers from Ukraine and Germany, we want to raise current topics and put them up for discussion in several panels. President of the Association of German Chambers of Commerce and Industry Eric Schweitzer will open the conference together with Federal Chancellor Angela Merkel and Prime Minister of Ukraine Denys Shmyhal,” says the forum program.
Merkel’s speech is scheduled for 10:00 on Friday.
According to the organizers, the German-Ukrainian business forum serves as a platform for the discussion and development of economic relations between Germany and Ukraine. It is intended for business and political decision makers in Germany and Ukraine. In connection with the coronavirus pandemic, the forum will be held digitally with live broadcast from the German Business House in Berlin.
The Embassy of Ukraine in Germany announced that within the framework of the forum, international experts of the highest level in four consecutive panels will discuss the topics of industrial development and digitalization, energy and renewable energy, food processing and agriculture, as well as logistics and infrastructure. Ukrainian ministers from the aforementioned sectors, as well as representatives of German politics and international economics, are invited to participate in the discussion.
The forum is organized by the Cabinet of Ministers of Ukraine, UkraineInvest, the Ukrainian Embassy in Germany in cooperation with the Association of German Chambers of Commerce and Industry (DIHK), the German-Ukrainian Chamber of Commerce and Industry (AHK Ukraine) and the German Committee on Eastern European Economic Relations.
National bank of Ukraine’s official rates as of 12/03/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of March 12
One troy ounce=31.10 grams
Ukraine’s gross domestic product (GDP) could grow by 4.3% in 2021, according to the economic forecast of the German Economic Team (GET) and the Institute for Economic Research and Policy Consulting.
“In 2021, we expect a recovery of the economy thanks to the growth of private consumption in relation to demand and increased production in industry, transport, as well as in agriculture in relation to supply. This will be facilitated by the recovery of the economy in partner countries and an increase in trade flows,” the experts said.
At the same time, they note the uncertainty about the future situation with the pandemic, cooperation with the IMF and political risks as early elections.
At the same time, the experts said that quarantine restrictions could last until the end of spring, and cooperation with the IMF would be unblocked, and the funds could be received in April-June, as well as in the second half of 2021.
The analysts also expect inflation to slightly exceed the National Bank’s target range in the short term.
