Business news from Ukraine

Business news from Ukraine

UTG CONSULTING COMPANY MOVES TO GULLIVER BUSINESS CENTER

UTG consulting company (Kyiv) from May 1, 2019 moved from the Parus business center to a new office located in the Gulliver business center at 1A, Sportyvna Street, the press service of the company has told Interfax-Ukraine. “Since May 2019, UTG has been meeting its partners and visitors in a new office located in the Gulliver class A business center. Along with the expansion of the working space, UTG has increased its staff, thereby increasing the efficiency of service provision,” the company said.
According to the report, the increase in staff resulted from the merger of the offices of UTG and DC Evolution. In particular, the number of employees has grown to more than 50 people.
The new office of the companies is located on the 27th floor in A tower.
President of DC Evolution developer Ihor Melnyk acquired a stake in the share capital of the Ukrainian Trade Guild (UTG, Kyiv) and became a member of the board as vice-president in 2016.
UTG (Kyiv) was founded in 2011. Its core business is accompanying of development projects.
More than 100 real estate projects were launched with the participation of UTG. Among them are Lavina Mall, New Way, Ocean Plaza, Gulliver, Piramida and Komod shopping centers (all based in Kyiv), Megamall (Vinnytsia), Most City Center (Dnipro), French Boulevard (Kharkiv) and Global.UA shopping centers (Zhytomyr).
According to the unified public register of legal entities and individual entrepreneurs, as of April 1, 2019, the share of 30% in the share capital of UTG LLC (Kyiv) belongs to Melnyk, 65% to Vadym Neposedov, and 5% to Artem Neposedov.

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STATE-RUN UKRAVTODOR WILL GET 12 WEIGHT-IN-MOTION COMPLEXES MADE BY CANADIAN-BASED INTERNATIONAL ROAD DYNAMICS

Canadian-based International Road Dynamics Inc. (IRD) and Quarterhill Inc. in conjunction with the Ukrainian companies SEA Electronics and Avtomagistral-Pivden will supply 12 Weight-in-Motion (WiM) complexes worth $6.4 million, including installation work, to the State Agency of Automobile Roads of Ukraine (Ukravtodor).
According to an IRD press release posted on the PR Newswire information disclosure service owned by Cision, the project includes the supply and installation of 20 WiM lines on six sections of highways around Kyiv, as well as the delivery of an auxiliary system.
“The implementation of this project is the first step in building a common ITC system, which consists of WiM, traffic control, speeding control, and tolling. By the end of the year we plan to develop and approve a program for 200-250 such points throughout the country. We must save taxes that taxpayers spend on restoring Ukrainian roads,” Head of Ukravtodor Slawomir Nowak told Interfax-Ukraine.
The press service of Ukravtodor told the agency funds for the project implementation are issued by the World Bank, and in total it is planned to purchase 12 WiM complexes produced by IRD within the framework of this contract.

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SWISS NESTLE BUILDS UP 100% STAKE IN UKRAINIAN VOLYNHOLDING

The Swiss company Nestle has bought a 9.5% stake in PrJSC Volynholding (the Torchyn brand), the largest producer of ketchup, mayonnaise, sauces and seasonings.
According to a company report in the information disclosure system of the National Securities and Stock Market Commission, after the purchase, the share of Nestle in Volynholding became 100%.
According to the report dated September 13, 2018, the company decided to sell 1,900 previously purchased shares to Volynholding’s shareholder. This stake, owned by the company, was 9.5%.
The net income of Volynholding in 2017 amounted to UAH 1.3 billion (7.5% more), net profit some UAH 89.1 million (0.8% more). Information for 2018 is not yet available.
PrJSC Volynholding produces ketchup, mayonnaise, sauces, pickles, mustard, dressings and spices under the Torchyn brand.
Nestle in Ukraine and Moldova has more than 5,500 employees. The company in Ukraine has three production sites (in Kharkiv, Lviv, and Torchyn, Volyn region), as well as one of the five Nestle service centers in the world – Nestle Business Service (NBS Lviv).

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UKRAINIAN ENTERPRISES RAISE PRETAX PROFIT BY 23.6% IN 2018

Enterprises and organizations in Ukraine in 2018 raised profit from ordinary activities before taxation by 23.6%, to UAH 353 billion, while in 2017 the figure was UAH 285.6 billion, according to the State Statistics Service of Ukraine.
According to the service, in 2018, profitable Ukrainian enterprises received UAH 579.96 billion of profit, which is 4.1% more than in 2017.
At the same time, 22.9% of enterprises posted a negative financial result. Their losses in 2018 decreased by 16.4% compared to 2017, to UAH 227 billion.

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MYKOLAIV SEAPORT RAISES FREIGHT TRANSSHIPMENT BY 26%

Mykolaiv seaport in January-March 2019 increased cargo handling by 26.2% compared with January-March 2018, to 8.117 million tonnes.
According to the data of the Ukrainian Sea Ports Authority, during this period the port increased the transshipment of exported cargo by 30.72%, to 6.247 million tonnes, imported cargo by 26.67%, to 1.606 million tonnes, and coastal freight handling by 12.75%, to 263,470 tonnes. The port did not transship transit cargo.
In January-March 2019, the port increased the transshipment of liquid cargo by 0.1%, to 764,830 tonnes, increased dry bulk freight by 28.1%, to 6.3 million tonnes, packaged ones by 40.32%, to 1.052 million tonnes.
As reported, Mykolaiv seaport in 2018 increased cargo handling by 24.09% compared with 2017, to 29.2 million tonnes.
Mykolaiv seaport has an area of 97.3 ha and a water area of 224.5 ha. It is connected to the Black Sea by the Buho-Dniprovsko-Lymansky canal. The port has 15 berths with a total length of 2.962 km.

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FIRST UKRAINIAN INTERNATIONAL BANK SEES 2.8-FOLD RISE IN NET PROFIT

The net profit of First Ukrainian International Bank (FUIB, Kyiv) in 2018 totaled UAH 2 billion, which is a 2.8-fold rise compared with 2017, FUIB Board Chairman Serhiy Chernenko has said. “The bank has never seen such business efficiency in the entire history of the bank. We earned a record amount of profit,” the banker said at a press conference in Kyiv on Monday.
According to him, with such indicators, FUIB became the fourth bank in Ukraine in terms of profit for 2018.
Operating income of the bank after the creation of reserves amounted to UAH 5.7 billion, which is 50% more compared to the same period last year. FUIB during 2018 created reserves in the amount of UAH 0.5 billion. Compared to 2017, this indicator more than doubled due to the fact that the bank has almost completely resolved the issue of troubled debt, the banker said.
According to the results of 2018, the net interest income of FUIB increased by UAH 1.1 billion and amounted to UAH 4.1 billion. Net commission income of the bank in 2018 increased 27% and amounted to UAH 1.5 billion.
In 2018, FUIB’s net assets amounted to UAH 49.9 billion. The corporate loans portfolio amounted to UAH 14.4 billion, loans issued to individuals – UAH 8.3 billion.
The bank’s capital in 2018 increased by 31.5% and amounted to UAH 6.3 billion.
FUIB was founded in 1991. Its largest shareholder is Rinat Akhmetov (indirectly 99.901045%).
According to the National Bank of Ukraine, as of January 1, 2019, FUIB ranked eighth (UAH 59.32 billion) in terms of total assets among the 77 banks operating in the country.

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