Business news from Ukraine

Business news from Ukraine

16.5 MLN TONNES OF CARGOS SHIPPED BY RIVERS IN UKRAINE IN 2018

The Rivers of Ukraine association has published the amount of cargo shipped by river: some 16.5 million tonnes of cargo was shipped by river in 2018.
The association said on its Facebook page that the figure was received after analyzing the last year’s cargo turnover, taking into account open data from the Ukrainian Sea Ports Authority and companies involved in transportation by river. In addition, the association assessed the volume of transportation across the Dnipro, Danube and Southern Bug rivers.
According to him, the volume of traffic across the Dnipro River last year amounted to about 9.9 million tonnes, across the Danube River – 6 million tonnes, across the Southern Bug River – about 600,000 tonnes.
According to Deputy Minister of Infrastructure Yuriy Lavrenyuk, the volume of traffic across the Dnipro River in 2018 increased 22.4% compared with 2017.
“New carriers began to appear on the river transportation market on the Dnipro River. This indicates that in the near future, in the event of development of inland waterway transport and inland waterways, we will be able to significantly reduce the burden on our roads, in which the government invests dozens of billions of hryvnias in construction and repair annually,” he wrote on his Facebook page.
Lavrenyuk also said that in 2019, Ukrvodshliakh, which maintains and operates the locks in the Dnipro cascade, will receive UAH 163 million from the national budget, which will increase its potential for repairs and maintenance of the locks in the proper and safe condition.
“We are still far away from the figures before the 1990s, when 60 million tonnes of cargo were transported across Ukrainian rivers. However, we can talk about some recovery of the market,” Executive Director of the Rivers of Ukraine association Dmytro Kozachenko said.
According to him, the growth of railway tariffs and the strengthening of control over the transportation of goods by road lead to the intensification of the river transportation market.

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MHP TO PAY DIVIDENDS FOR 2018

The Board of Directors of Myronivsky Hliboproduct (MHP) on March 19, 2019 approved the payment of annual dividends in the amount of $0.7492 per share for 2018, which is equal to approximately $80 million and the same as paid last year.
According to a company report on the website of the London Stock Exchange on Wednesday, the announcement will be published in a due course.
As reported, net profit of MHP in 2018 fell by 44.3% compared with 2017, to $128 million.
MHP is the largest poultry producer in Ukraine. It also deals with production of grain, sunflower oil, meat goods.

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TAS INSURER COLLECTS UAH 125 MLN PREMIUMS IN FEB

The TAS insurance group (Kyiv) in February 2019 collected UAH 125.59 million in insurance premiums, which is 59.3% more than a year ago.
According to a posting on the website of the company, 31.88%or UAH 40.04 million of premiums were collected with signing of compulsory insurance of vehicle owners’ civil liability (OSAGO) policies, which is 47.9% more than in February 2018.
The amount of Green Card policies sold grew by 68.7%, to UAH 35.8 million, or 28.51 of total premiums.
The share of voluntary car insurance (KASKO) was 17%: policies for UAH 21.35 million were signed, which is 51% more than a year ago.
The group collected UAH 12 million under property insurance policies, which is 9.55% of total premiums collected in February and three times more than a year ago.
TAS collected UAH 2.55 million under voluntary medical insurance contracts and UAH 13.85 million under other insurance contracts.
In February 2019, the group paid UAH 56.12 million in claims, which is 42.5% more than a year ago.

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UKRAINIAN BANKS’ REVENUE 40% UP IN JAN-FEB

Revenue of Ukrainian banks, not taking into account insolvent ones, in January and February 2019, totaled UAH 39.279 billion, which is 40.4% more than a year ago, according to a posting on the website of the National Bank of Ukraine (NBU).
Expenses of the banking system over the period accounted for UAH 30.588 billion, which is 27.5% more than a year ago.
Net profit of Ukrainian banks over the period came to UAH 8.691 billion, which is 2.2 times more than in January and February 2018.

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UNIQA LIFE INCREASES NET PROFIT BY 52.6% IN UKRAINE

UNIQA Life insurance company (Kyiv) in 2018 saw its net profit rise by 52.6% compared with 2017, to UAH 40.554 million, according to materials for the agenda of a general meeting of shareholders scheduled for April 25.
In addition, the company last year increased its assets by 10.6%, to UAH 1.189 billion. The insurer’s net worth rose by 3.8%, to UAH 415.8 million, charter capital remained at the level of 2017, at UAH 100.09 million.
Total debtor indebtedness decreased by 36.9%, to UAH 39.4 million. Cash and cash equivalents rose by 3.5 times, to UAH 39.320 million.
Long-term liabilities increased by 15% and amounted to UAH 715.1 million, current liabilities were up by 10.4%, to UAH 58.483 million.
UNIQA Life insurance company, established in July 2006, is a subsidiary of UNIQA Group, one of the leading insurance concerns of Central and Eastern Europe.

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