In a week’s time, on August 17-18, Vinnytsia will host the Bread Industry 2023 conference and exhibition, which will bring together representatives of various businesses in the bread industry, from grain processors to suppliers of food equipment and technologies.
So far, more than 150 companies from the industry have confirmed their participation in the conference. In particular, the event is attended by the heads of the leading manufacturers of
– Concern Khlibprom, Skvyra Bakery, Stolychnyi Mlyn, Kyiv Bread, Kyiv BCC, Vinnytsia Bread Factory No. 2, Bread Investments, Formula Smaku, Mlyn Baza, HD Group, Bread Guild, Newsphere, Agrofirma Pole LLC, Khlibodar, Rivne Boroshno LLC, Energy Saving Technologies, Newsphere, Eldorado Trading House, Cascade Trading House and many other representatives of the grain processing and bakery business)
– ingredients, mixtures and spices for the food industry (Foodreform, Zealand, Lesaffre, Stern Ingredients Ukraine)
– equipment and technologies for the grain processing and food industry (Buhler Ukraine, OLIS, ProTek Systems, Kumkaya, Aventin, GVP Equipment Solutions, Basis, Habasit Ukraine LLC, Socktrade, etc.)
In total, more than 150 delegates have already confirmed their participation in the business conference, the list of participants is available at.
The participants of the Bread Industry conference will enjoy a rich program with hot discussions and time to communicate with colleagues and partners.
Register and join the professional business meeting on August 17-18!
Open4business is a media partner
KSG Agro has been renewed its national scale rating of uaA+ (the Agency’s international scale rating of BOV) by Expert Rating Agency, the press service of the agroholding said.
“Rating Committee of RA Expert-Rating, despite the large-scale aggression of Russia and the difficult situation in the Ukrainian agro sector, has renewed long-term credit rating of KSG Agro on the national scale at the level uaA+. This means that the borrower or a separate debt instrument with a uaA rating is characterized by high creditworthiness compared to other Ukrainian borrowers or debt instruments”, – reported in the agricultural holding and added that the credit rating was assigned based on the analysis of data from the consolidated statements of KSG Agro for the first quarter of 2023.
Experts of the rating agency indicated that the predominant share in the structure of long-term liabilities of KSG Agro as of March 31, 2023 was occupied by long-term loans, the volume of which in the analyzed period decreased by 7.59% to $24 million. At the same time, the volume of short-term loans received by KSG Agro from March 31, 2022 to March 31, 2023 decreased by 21.97% and amounted to $2.67 million.
Sales volumes of the holding company’s products in the analyzed period increased significantly: income from sales for the first quarter of 2023 compared to the first quarter of 2022 increased by 44.52% and amounted to $5.12 million, which is explained by the increase in exports of grain crops in the current year.
Analysis of KSG Agro’s consolidated financial statements by the agency’s experts showed that EBITDA for the first quarter of 2023 compared to the first quarter of 2022 increased by 22.90% to $1.87 mln, and the ratio between EBITDA for the first quarter of 2023 and loans as of March 31, 2023 increased by 1.72 p.p. to 7.08% compared to last year’s figure.
There has been no fighting in the immediate vicinity of Agroholding’s assets since the start of the Russian invasion. Also, they have not suffered from flooding as a result of Russia’s undermining of the Kakhovskaya HPP dam and have alternative sources of water supply. As in the previous year, in the first quarter of 2023 KSG Agro used more of its own grain to produce feed instead of buying it, reducing the holding’s dependence on external suppliers of feed ingredients during the war, analysts said.
“The company has successfully completed the spring sowing campaign and KSG Agro’s management does not expect significant disruptions in its production cycle or a meaningful negative impact of the Russian invasion on business operations in the near future. The Agency notes the increase in sales volumes and efficiency indicators of the holding, as well as the growth of EBITDA/loans ratio”, – summarized RA Expert Rating.
Vertically integrated holding KSG Agro is engaged in pig breeding, as well as in the production, storage, processing and sale of grain and oilseeds. Its land bank is about 21,000 hectares in Dnipropetrovsk and Kherson regions.
According to the agroholding, it is among the top 5 pork producers in Ukraine.
Last year KSG Agro ended 2022 with a net loss of $1.68m compared to $17.71m net profit in 2021 due to the full-scale war launched by Russia, its EBITDA decreased 5.5 times to $1.79m and revenue decreased 47.3% to $16.2m.
GGBET LLC acquired the rights to use the GG.BET brand in Ukraine and received a decision to issue licenses from the Commission for Regulation of Gambling and Lotteries for its activities (decisions No. 128, No. 129 of 08.08.2023). The date of the start of GGBET UA operations will be announced shortly.
GG.BET is an international esports bookmaker with Ukrainian roots, known for its partnerships with the world’s largest CS:GO and Dota 2 tournaments. The brand actively supports the development of global esports and acts as an official partner of major esports tournaments. In addition, the brand is a sponsor of the legendary NAVI and Team Vitality clubs.
GGBET UA will develop the esports community and promote the principles of responsible betting and online casinos. It also plans to support Ukrainian sports through investments, implementation of thematic social projects, and collaborations with sports leaders.
“Ukraine has a great potential for the development of the betting market, so obtaining licenses for the GG.BET brand is an expected and balanced decision. Ukrainian esports is characterized by a developed fan base and its own history of tournaments and high-profile victories. In addition, we are confident that fans of classic sports will also find attractive conditions and gain new interesting experience. We will offer Ukrainian bettors an excellent betting product and high-level service that the GG.BET brand provides to users in the global market,” the company’s press service commented.
As a reminder, the GG.BET brand has recently started operating in the UK under the license of the UK Gambling Commission, which is considered one of the most standardized and prestigious in the world.
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About GG.BET
GG.BET is an international eSports betting brand with operations in the UK, Europe, South America and Asia, operating under the licenses of the UK Gambling Commission, Antillephone (Curacao) and Malta Gaming Authority. GG.BET is a member of the ESIC public organization and stands for fair play in esports.
Ukraine has already harvested 12.5 million tons of wheat with record yields, but due to weather conditions 60% of the crop will be sold as fodder, which is twice as much as last year’s figure, according to the analytical cooperative “Pusk”, established within the framework of the All-Ukrainian Agrarian Rada (VAR).
“The key problem of the new harvest was its low quality: due to weather conditions, the grain has a low protein content. Most exporting countries also have problems with the quality of grain,” analysts said.
According to their information, the volume of feed grain in the season-2023 may amount to 60% of the new harvest. In previous years, this figure was at the level of 30%, and the remaining 70% was food grain.
Ukraine will get no more than 40% of high-protein wheat in 2023, which will affect prices.
“The spread between fodder and high-protein wheat is already $15-18/ton, in the future it may exceed $20/ton,” experts noted.
The current season will be problematic with the supply of food grain worldwide, stated the WAR and added that a lot of feed grain will be produced by France, Germany and the Russian Federation, which are experiencing problems with grain quality.
“Those who have high-protein wheat are selling to Lithuania, to Germany, and at small ports the supply is low. If last season the markets were surplus, traders dictated prices, now we are moving to a deficit model. Farmers are not taking wheat to the ports, and prices will rise,” the analysts explained.
They reported that prices in Danube ports on the basis of CPT are $170-175/tonne, by the end of the week they are expected at $180/tonne, and by the end of August may exceed $200/tonne.
“World demand is just starting to grow, there will be news of quality problems in other regions as well,” predicted the CAP.
The National Agency of Ukraine for the Detection, Search and Management of Assets Derived from Corruption and Other Crimes (ARMA) has proposed that the assets of the Glusco gas station chain be transferred to the management of PJSC Ukrnafta under a special procedure.
According to ARMA’s Facebook post, the proposal was supported by the Ukrainian Energy Ministry at a meeting attended by representatives of relevant ministries and state-owned companies on Monday.
ARMA head Olena Duma said that the future contract should specify the minimum amount of monthly revenues to the budget for the management of the network’s assets at the level of UAH 5 million, coordination with the agency of changes in the management of companies whose corporate rights will be transferred to the manager, as well as the submission of specific reporting information on all accounts.
“I firmly believe that the growth of the guaranteed income of the state at least 13 times is the best evidence of the effectiveness of new approaches in the work of ARMA. In addition, we are only talking about a minimum amount, which will increase as fuel sales increase. Now the government has the final word – and dozens of gas stations across the country will start to really work for the state budget”, – the report quotes the words of the head of ARMA Elena Duma.
At the same time, Naftogaz Oil Trading LLC (NOT), which manages Glusco’s assets, reiterated that they effectively and transparently manage the network, and ARMA’s actions to terminate management contracts are unlawful.
“Naftogaz notes that the termination of the contracts occurred with numerous legal violations, the inspection was conducted improperly, and ARMA’s actions jeopardize the preservation of physical evidence in the criminal proceedings against the former owner of these assets, Viktor Medvedchuk.”
In addition, ARMA and NOT are currently parties to the ongoing economic concentration harmonization procedure.
“By the time further actions to comply with the provisions of the antimonopoly legislation of Ukraine are agreed upon, any actions to change the manager are unlawful and may result in significant penalties for the participants of such concentration,” Naftogaz clarified.
“NOT” continues to consider the concluded contracts of property management Glusco valid, and will fulfill them until the moment of the resolution of disputes”, – summarized in the company.
As reported, the Cabinet of Ministers of Ukraine in May 2022 agreed the ARMA proposal to transfer to the management of NJSC Naftogaz of Ukraine arrested assets of Glusco (until 2018 – the network of Rosneft), which were associated with Viktor Medvedchuk,
NOT was identified as the asset manager, with whom ARMA subsequently entered into a fixed-term management agreement.
At the end of July 2023, the recently appointed head of ARMA, Olena Duma, announced that the National Agency would conduct audits of the efficiency of management of the largest assets, and an audit of the efficiency of management of the Glusco network of gas stations by Naftogaz Ukrainy has already begun.
According to her, ARMA has received information about improper fulfillment of the contract terms by the manager, in particular, the submission of unreliable data regarding expenses and income from management activities.
“The manager has been using Glusco’s assets for more than a year, which are actually 89 gasoline filling stations, eight land plots, two oil depots and corporate rights of 35 companies. At the same time, only UAH 1.151 million has been transferred to the state budget for the whole time, which raises well-founded questions about the efficiency of management,” she said.
On August 3, ARMA announced the termination of contracts with NOT to manage the assets of the Glusco gas station network.
At the same time, Naftogaz said that under the management of “NOT” resumed the work of 81 filling stations and one oil depot, which did not work for a year and a half, timely payment of wages to employees. From August 2022 to July 2023, 289 million UAH of mandatory payments to the state and local budgets were paid.
The head of Naftogaz Ukrainy, Oleksiy Chernyshov, said that during the period of managing the assets of Glusco, the group invested significant funds in the restoration of the network, repaid its debts, and at the request of ARMA paid them “for some part of future profits, as they are not yet in question.”
Naftogaz’s 100% subsidiary Ukrgasvydobuvannya has a network of 21 U.GO gas stations in Kharkiv and Kharkiv region. Starting from 2022, Naftohaz Oil Trading also has the right to use the brand and plans to expand its network in other regions.
An electronic cabinet for manufacturers of construction products has appeared in the Unified State Electronic System of Construction (USECS), the press service of the Ministry of Community Development, Territories and Infrastructure has reported.
As noted in the release, now manufacturers can independently declare the type of building products (windows, doors, fittings, etc.) and its characteristics (size, shape, configuration, etc.).
With this declaration, manufacturers confirm the compliance of products with legal requirements. Verification of declared indicators and characteristics of construction products is carried out by the state supervision body – the State Inspectorate of Architecture and Urban Planning of Ukraine.
Performance characteristics of construction products and requirements for their confirmation are defined in national standards, which are identical to harmonized European standards.
All information about working with the functional cabinet can be found in a special chat room: https://t.me/budprod or by e-mail to support the work of the functional cabinet: support@e-construction.gov.ua.
Recall that at the end of December 2021, the Government adopted Resolution No. 1458 “Certain Issues of Provision of Construction Products on the Market”, regulating a number of issues on the provision of construction products on the market. This was the final step of the implementation of the European Regulation 305/2011 into the national legislation.
The launch of the e-cabinet functionality of the construction products manufacturer was carried out in cooperation with the Ministry of Community Development, Territories and Infrastructure of Ukraine, the Reform Support Office of the Ministry of Community Development, Territories and Infrastructure and the Ministry of Digital Transformation of Ukraine with the support of USAID/UK aid of the TAPAS Project/Transparency and Accountability in Public Administration and Services.
