Ukrainian Graphite PrJSC (Ukrgraphite, Zaporizhzhya) posted a net profit of UAH 128.230 million in January-September this year, up 0.7% year-on-year.
According to the company’s interim report, the company increased its revenue by 8.7% to UAH 1 billion 322.508 million in 9M2023.
The company’s retained earnings amounted to UAH 3 billion 833.682 million as of the end of September this year.
As reported, Ukrgraphite increased its net profit by 42.9 times year-on-year to UAH 70.723 million in January-March 2023, but reduced its net income by 11% to UAH 437.326 million.
In 1H2023, the plant earned a net profit of UAH 83.556 million, while it ended the same period last year with a net loss of UAH 22.135 million and increased revenue by 22.6% to UAH 938.909 million.
“In 2022, Ukrgraphite reduced its net income by 41.4% year-on-year to UAH 1 billion 545.562 million, earned a net profit of UAH 52.584 million, while it ended 2021 with a net loss of UAH 317.539 million.
“Ukrgraphite is Ukraine’s leading producer of graphitized electrodes for electric steel-making, ore-thermal and other types of electric furnaces, commercial carbon masses for Soderberg electrodes, and carbon-based lining materials for metallurgical, machine-building, chemical and other industries.
According to the National Depository of Ukraine (NDU), as of the fourth quarter of 2022, Intergraphite Holdings Company Limited (Bermuda) owns 23.9841% of the company, and C6 Safe Group Limited (Cyprus) owns 72.0394%.
The authorized capital of the company is UAH 233.959 million, with a par value of UAH 3.35 per share.
The World Bank has announced the allocation of $550 million to help more than 90,000 farmers in Ukraine access concessional loans and grants for agricultural production.
The “Emergency Project of Inclusive Support for the Restoration of Agriculture in Ukraine (ARISE)” will facilitate access to concessional financing for agricultural producers in 2023 and 2024. The project will help farmers mobilize about $1.5 billion in working capital,” the WB said in a statement on Tuesday night.
It is specified that the financing of the ARISE project consists of a $230 million loan from the World Bank from the Trust Fund for Providing Ukraine with Necessary Credit Support (ADVANCE Ukraine), supported by the Government of Japan. The financing also includes a $320 million grant from the Ukraine Recovery, Rehabilitation and Transformation Trust Fund (URTF).
“The innovative design of the project envisages attracting additional financing of up to $150 million, when such funds are available from the World Bank and donors,” the release says.
“The ARISE project will help thousands of Ukrainian farmers, many of them small, continue to produce in what will undoubtedly be a very challenging environment in the coming months,” the statement quoted Antonella Bassani, World Bank Vice President for Europe and Central Asia, as saying.
The WB recalled that the total cost of damage to the Ukrainian agricultural sector from Russia’s invasion is estimated at $40.2 billion, and it has likely increased since the last Rapid Assessment of Damage and Recovery Needs was published in February 2023. This figure does not take into account the demining of farmland, damage to irrigation systems, losses to agro-logistics, and losses to food processing companies, the bank added.
The ARISE project will be implemented by the Entrepreneurship Development Fund and the Ministry of Agrarian Policy and Food of Ukraine. This is the fifth World Bank project approved for Ukraine this year under an innovative and flexible framework model. It provides for the rapid mobilization of partner resources to finance urgent needs, and such financing can be expanded as needed when additional funds become available.
Next year, the World Bank and the Government of Ukraine will focus on critical reforms and investments in priority sectors, including energy, health and social protection, education, housing rehabilitation, and agriculture, the release said.
In January-September 2023, Kredobank (Lviv) earned UAH 1 billion 509.44 million in net profit, while in the same period of 2022 this figure amounted to UAH 68.45 million, according to the bank’s quarterly report.
According to it, in particular, Kredobank earned UAH 594.65 million in the third quarter, which is UAH 41.6 million less than in the second quarter, but 58 times higher than the net profit for the same period last year (UAH 10.09 million).
According to the report, net interest income, which amounted to UAH 1.45 billion in the first half of 2023, increased by another 61.5% to UAH 2.34 billion in the third quarter, while in January-September 2022 it amounted to UAH 1.48 billion.
In particular, net interest income for the third quarter of this year (UAH 893.44 million) was twice as high as in July-September last year.
It is noted that net fee and commission income increased by 9.3% to UAH 387.47 million in the first nine months of this year compared to last year’s results, but in the third quarter this figure was 5.7% less than in 2022 – UAH 128.3 million.
In January-September 2023, Kredobank increased its reserves by only UAH 23.55 million against UAH 1.24 billion in the same period of 2022.
According to the report, since the second quarter of this year, the bank’s assets have increased by 6.8% and reached UAH 48.72 billion as of September 30. This growth is primarily due to a significant increase in the volume of securities – from UAH 13.51 billion in the second quarter to UAH 16.5 billion in the third quarter. At the same time, the amount of cash and funds with the NBU decreased from UAH 14.71 billion in June to UAH 13.68 billion as of September.
Loans and advances to customers increased slightly compared to the previous quarter – by 3.2% to UAH 12.43 billion, while the amounts due to other banks increased by 12.9% to UAH 4.36 billion.
At the same time, in July-September, Kredobank increased its customer accounts from UAH 39.38 billion in June to UAH 41.48 billion. During this time, the bank’s capital increased from UAH 5.08 billion to UAH 5.83 billion, including retained earnings from UAH 0.91 billion to UAH 1.5 billion.
Kredobank was founded in 1990. Its sole shareholder is the largest bank in Poland – PKO Bank Polski S.A. According to the National Bank of Ukraine, as of September 1, 2023, Kredobank ranked 14th (UAH 52.05 billion) among 64 banks operating in the country in terms of assets.
“Ukrtelecom, Ukraine’s largest fixed-line operator, posted a net profit of UAH 242.39 million in January-September 2023, compared to a net loss of UAH 755.18 million in the same period last year, the company said in a report on its website on Monday.
Ukrtelecom’s revenue decreased by 6.1% to UAH 3.14 billion in the first nine months of the year.
Gross profit increased by 26.4% to UAH 791.6 million, and EBITDA amounted to over UAH 1 billion compared to UAH 975 billion in January-September 2022, resulting in an EBITDA margin of 28%.
The company notes that amid the war, Ukrtelecom continues to develop its optical infrastructure, providing Internet access at almost 90% of the number of settlements covered by the operator’s network before the full-scale Russian invasion.
According to a release on Monday, since the beginning of the year, the company has already laid almost 4 thousand kilometers of fiber optic lines, compared to about 5 thousand kilometers in the first nine months of last year. Both new users – business representatives and individuals – are connected to the high-speed optical Internet. It is noted that in the first nine months of this year, 120 medical and 140 educational institutions were also connected to optics.
According to the report, Ukrtelecom paid UAH 1 billion in taxes and duties to the budgets of all levels in January-September 2023 compared to UAH 1.12 billion in January-September 2022, and more than UAH 70 million has already been allocated for the needs of the Ukrainian defenders (UAH 50 million in January-September 2022). Almost 400 Ukrtelecom employees are defending Ukraine in the Armed Forces of Ukraine, compared to about 350 a year ago.
Kharkiv-based aircraft manufacturer FED JSC completed January-September 2023 with net income of UAH 907 million, up 87.1% compared to the same period in 2022.
According to the company’s interim financial statements published in the NSSMC’s information disclosure system, its net profit for the period increased 2.8 times to UAH 272.5 million.
From operating activities, FED JSC received UAH 334.6 million in profit, which is 2.8 times more, and gross profit increased almost 2.3 times to UAH 432.3 million.
As reported, in January-June 2023, the company increased its net profit by 12.6 times compared to the first half of 2022, to UAH 249.43 million, while net income almost tripled to UAH 674.89 million.
Thus, in the third quarter of this year, the net profit of FED JSC amounted to UAH 23 million, which is 70.3% less than in July-September 2022, with a 9.1% drop in net income to UAH 232.1 million.
FED JSC is one of the leading enterprises in Ukraine, specializing in the development, production, maintenance and repair of aviation, space and general engineering units.
In 2022, the company reported a 2.7-fold decrease in net profit compared to 2021, down to UAH 146.77 million. Net income decreased by 2.3 times to UAH 570.9 million.
At the beginning of 2022, the company employed more than 1 thousand people.
According to the National Securities and Stock Market Commission, more than 98.2% of FED shares are owned by the company’s CEO Viktor Popov.
In 2022/23 marketing year (MY), Ukrainian flour millers increased flour exports to 149.7 thsd tonnes, which is 20.1% higher than in the pre-war 2020/2021 MY, when it reached 124.6 thsd tonnes, said Serhiy Serhii Sakirkin.
“That is, in a year when the sea was safe, containers (the cost of which was constantly cried about) of bran were in demand, the overstocking of warehouses could not be imagined even in bad dreams – but only 125 thsd tonnes. And here the sea is only in Romania and further, wild bets on trucks to ports and European consumers… Logistics is a nightmare! And 150 thsd tonnes!” he wrote in the review for APK-Inform analytical agency.
According to the report, in 2021/2022 MY the flour exports were the record low and amounted to 69.8 thsd tonnes. In the current marketing year, the export of Ukrainian flour is expected to reach 180 thsd tonnes, according to the industry association.
Considering the dynamics of flour exports by months, Sakirkin recalled that from March to June 2022, there was an “unclear state of affairs”.
“Then it became clear that we had to work and work in a new way. In July, we squared our shoulders and continued to work almost without disruption. Rare stability in contrast to the previous two years,” the expert said.
According to him, the price of flour last season was influenced by the global price factor and very expensive logistics.
“The terms of delivery, which include payment for transportation, are represented by other prices, but this is not a profit, unfortunately… By the way, the price dynamics of 2022/23 MY, if we do not take absolute figures, is very similar to the dynamics of the pre-war 2020/21 MY,” the expert said.
He emphasized that the war had a significant impact on the geography of Ukrainian flour supplies. Previously, North and Central Africa, especially the UAE, dominated, but now seven out of 10 countries, where the largest volumes of Ukrainian flour were shipped, are European countries.
“Let’s say the usual annual volume is exported to Moldova. But other countries, if they ever got Ukrainian flour, it was in tiny quantities. Now it is thousands, sometimes even tens of thousands of tons,” Sakirkin wrote.
The industry association specified that 33.94 thousand tons of flour were supplied to Moldova, which accounted for 23% of total exports, 22.16 thousand tons (15%) to Poland, 14.7 thousand tons (10%) to Palestine, 14.7 thousand tons (10%) to Romania, and 14.7 thousand tons (10%) to tons (10%), Romania – 12.98 thousand tons (9%), Croatia – 10.77 thousand tons (7%), Hungary – 7.96 thousand tons (5%), Turkey – 7.55 (5%), Israel – 6.87 thousand tons (5%), Slovakia – 6.35 thousand tons (4%) and the Czech Republic – 4.43 thousand tons (3%).
The top ten largest exporters were only producers, including Kalush Milling Company, Novaagro LLC, Khmelnytsky Milling Company, Vinnytsia Milling Company No. 2, Vlad LLC, and others, the Millers of Ukraine Association noted.
