Business news from Ukraine

Business news from Ukraine

NOVA Group increased investments in Ukraine by 2.5 times in 2023

The NOVA Group, which includes the largest logistics operator Nova Poshta, invested UAH 5.3 billion in Ukraine in 2023, which is 2.5 times higher than the investment budget for 2022 (UAH 2.1 billion), the group said in a statement on Thursday.

“The level of Nova Poshta’s faith in the future of Ukraine in 2024 is even higher: this year it is planned to increase the amount of investments to UAH 7 billion,” the release said.

According to the release, last year NOVA also increased its tax payments by one and a half times to UAH 10.7 billion. It is specified that, in particular, Nova Poshta paid UAH 8.7 billion in taxes, and NovaPay paid UAH 1.2 billion.

The report indicates that last year, the largest amount of capital investment – UAH 2.4 billion – was directed to the construction of new sorting terminals and automation of those already in operation. It is noted that this allows the company to ensure an uninterrupted delivery process in the face of constant growth in cargo volumes and not lose speed: today the company delivers 1040 parcels every minute, and on peak loading days – 1400.

Another major expense item, according to the release, is the development of the network of branches and post offices for the purpose of walking distance accessibility, in which UAH 1.1 billion was invested. As a result, Nova Poshta’s network in Ukraine already includes more than 27 thousand service points.

Also, the investment budget of UAH 1.2 billion was used to automate workplaces and repair branches to make them convenient and barrier-free for different groups of consumers and employees.

It is specified that in 2023, UAH 233 million was spent on the renewal of the fleet of transport and BDF containers, UAH 338 million on IT and R&D, and UAH 17 million on the development of the fulfillment business.

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TAS Insurance Group increased premiums by 45.5% and payments by 48.3%

In 2023, TAS Insurance Group (Kyiv) collected UAH 3.540 billion in premiums under insurance contracts, which is 45.5% more than in 2022.

According to the company’s website, in particular, the insurer collected UAH 723.23 million in insurance payments under hull insurance contracts, which is 41% higher than in 2022 and accounts for 20.43% of total premiums.

In turn, UAH 1.150 billion of payments (+35.8%) were made for MOTPL, which is 32.48% of the total premiums for the year. Sales of the Green Card increased even more significantly, by 78.2%, to UAH 856.74 million, or 24.2% of the company’s total payments for the year.

At the same time, the share of VHI in the insurer’s portfolio amounted to 10.93% last year. Under voluntary health insurance contracts, TAS Group attracted UAH 386.91 million in premiums, which is 46.7% more than in 2022.

The company’s payments under property insurance contracts amounted to UAH 84.42 million, which is 13.8% higher than the corresponding figure for the year before last, and UAH 338.78 million of payments under other contracts (+33%).

As reported, in 2023, TAS IG paid a total of UAH 1.341 billion under the concluded insurance contracts, which is 48.3% more than the company’s indemnities for 2022.

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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Changes in revenue of the consolidated budget in 2021-2023 (%)

Changes in revenue of the consolidated budget in 2021-2023 (%)

Source: Open4Business.com.ua and experts.news

EU to supply 1 mln artillery shells to Ukraine by end of year

At an informal meeting in Brussels, EU defense ministers agreed to fulfill their promise to supply 1 million artillery shells to Ukraine, Estonian Defense Minister Hanno Pevkur said.

“We have just agreed with the EU defense ministers that we will fulfill our promise to supply 1 million artillery shells to Ukraine. By the end of March, we will have delivered more than 0.5 million shells. More than 1.1 million shells by the end of 2024. The EU’s production capacity will increase to 1.5 million by the end of 2024,” Pevkur wrote on social media site X.

Last spring, the EU countries jointly agreed to send one million shells to Ukraine by March 2024 to repel Russia’s military aggression.

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SE SETAM sells seized integral property complex in Odesa

The Enforcement Division of the State Enforcement Service Department of the Ministry of Justice of Ukraine has put up for sale through the OpenMarket electronic auction (SE “SETAM” of the Ministry of Justice of Ukraine) an integral property complex located in Odesa at the 19th km of Starokyivska road, 34.
The building has an area of 25,659.90 square meters. The lot consists of:
– the main building with utility blocks, a loading dock and a railway track;
– administrative building, security building, weighbridge, electrical workshop building;
– oils and greases warehouse, material warehouse, water measuring unit;
– switchgear, boiler house, carpentry shop, repair and mechanical shop;
– a trade pavilion, a car wash, a gas station, a warehouse of oils and lubricants and other property.
The full list is available at the link to the lot: setam.net.ua/auction/540581
“The auction is scheduled for February 7, so potential bidders have time to pay the guarantee fee and participate in the auction. The lot is being auctioned for the second time, so its starting price has been reduced by 15% from the first auction. Now the starting price for the complex, including VAT, is UAH 112,325,800, which is approximately UAH 4,377 per 1 sq. m.,” said Oleksandr Mamro, CEO of SE SETAM.
The OpenMarket auction (SE SETAM of the Ministry of Justice of Ukraine) is a simple and effective means of selling and purchasing property via the Internet. The online auction has been operating throughout Ukraine since 2014. The total amount of sales since its launch is UAH 21.8 billion.

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Rauta starts implementing business center project in Podil district of Kyiv

The engineering and construction company Rauta is starting to implement a business center project in Podil, Kyiv, which will be the first project in which Rauta will perform customer service functions, the company’s press service told Interfax-Ukraine.

“The client service is a new service in Rauta’s offer, but the company already has several projects in its portfolio in which it performs work that allows it to build turnkey buildings,” said Andriy Ozeychuk, the company’s owner.

The functions of the construction customer service include support at the pre-project stage, development of design and estimate documentation, its examination, selection of a general contractor, obtaining a building permit, preparatory work at the construction site, construction of the facility itself, construction and connection of external engineering networks, and commissioning.

Rauta clarified that the business center with an area of about 3 thousand square meters is being built for an international IT company in the historical center of Kyiv, at 10b Kontraktova Square.

Rauta is a leading provider of reliable construction solutions in Ukraine and the European Union.

According to the company’s data, Rauta Group LLC was registered in Ukraine in 2014, with an authorized capital of UAH 388 thousand and revenue of UAH 102 million 396 thousand in 2022.

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