Structure of approved ukrainian state budget expenditures in 2023
Source: Open4Business.com.ua and experts.news
The liquidation commission has sold the property of Ilyichevsk Oil and Fats Plant LLC (Chernomorsk, Odessa Region) for UAH 696.66 million to Poltava-Zerno LLC, 95% of which belongs to the Kernel agricultural holding.
According to information in Prozorro.Sale, the auction was held on July 26 with a starting price of UAH 689.6 million, and Poltava-Zerno was the only participant.
It is specified that the buyer has already paid UAH 55.04 million of the guarantee fee, part of which in the amount of UAH 13.93 million went to the remuneration of the operator of the electronic platform – LLC “Onylan-Market”.
The new owner received, in particular, a land plot of 8.58 hectares with communications, where the plant is located, a complex of buildings and structures, as well as transport, tanks, reservoirs, production lines, minibus and other property.
Ilyichevsk Oil and Fats Plant LLC is bankrupt. According to open data opendatabot.ua, as of 2020 its assets were estimated at UAH 205.324 million, profit – UAH 481.721 million, income – UAH 22.836 million. At the same time, debt obligations reached UAH 2.587 billion.
Agroholding “Kernel” before the war ranked first in the world in the production of sunflower oil (about 7% of world production) and its export (about 12%). The company is one of the largest producers and sellers of bottled oil in Ukraine. In addition, the agroholding is engaged in the cultivation of agricultural products and their realization.
The largest co-owner of Kernel through Namsen Ltd. – is Ukrainian businessman Andriy Verevsky, who this year, as part of the buyout and delisting of the company from the Warsaw Stock Exchange, increased his stake from 41.3% to 74.05%.
Kernel’s net profit for the first nine months of 2023FY (January-March 2023) rose 36% to $437 mln, while revenue fell 45% to $2.715 bln.
As reported, Kernel recently reported that 40% of its grain storage and transshipment capacity at the Chernomorsk port was damaged as a result of a missile attack by Russia on the night of July 19, and it will take at least 12 months to restore these assets. In addition to the damage to infrastructure during this attack, a fire at the Chernomorsk port partially destroyed and damaged 60,000 tons of grain prepared for loading onto the large-capacity vessel Alexis and which was to be shipped to China.
Prices for oil benchmark grades are falling on Monday after they finished “in the plus” for the fifth week in a row and reached the highest levels since mid-April.
The price of WTI crude oil futures for September at the electronic trading of the New York Mercantile Exchange (NYMEX) as of 8:16 a.m. Q2 is down $0.36 (0.45%) to $80.22 per barrel. At the end of the previous session they rose by $0.49 – to $80.58 per barrel.
Quotes of September futures for Brent crude oil on the London exchange ICE Futures is $84.4 per barrel, which is $0.59 (0.7%) below the closing price of the last session. On Friday, these contracts rose by $0.75 (by 0.9%) – to $84.99 per barrel.
Over the past week, quotes of Brent increased by 4.8%, WTI – by 4.6%, according to MarketWatch.
Since the beginning of July, the price of Brent has jumped by 12%, WTI – by 14%, which is the best monthly increase since January 2022, amid production cuts by Saudi Arabia and Russia, notes Trading Economics.
Analysts at ANZ Bank believe that strong macroeconomic data, including US GDP growth, will support oil prices in the near term.
Kredobank (Lviv) in the second quarter of 2023 increased the authorized capital of the subsidiary company “Credolizing” (Lviv) by UAH 25 million – up to UAH 35 million in order to ensure its further development, according to the quarterly report of the bank.
It is indicated that the state registration of changes in the authorized capital of Credolizing took place on June 26 of this year.
LLC “Credolizing” was founded in August 2021, Kredobank is 100% owner of the company.
According to information on the leasing company’s website, it finished 2022 with a net loss of UAH 2.9 million, while its revenue amounted to UAH 3 million. Last year, the company’s assets decreased from UAH 9.8 mln to UAH 6.9 mln.
As of June 1 of this year, Kredobank ranked 14th among 65 operating banks in Ukraine in terms of assets (UAH 46.854 billion), and its network includes 67 branches in the country. Kredobank is fully owned by PKO Bank Polski SA, the largest systemically important bank in Poland, whose shares are listed on the Warsaw Stock Exchange.
Moutai (“Maotai,” a subspecies of China’s traditional baijiu spirits) has topped the global alcoholic beverage rankings for the eighth consecutive time, according to an annual study by Brand Finance.
The brand, owned by Kweichow Moutai Co. Ltd. is valued at $49.7 billion, with its value increasing 16% over the year.
Two more Chinese brands – Wuliangye ($30.3 bln, +5.4%) and Xinghuacun Fen Wine ($8.4 bln, +68%) – ranked second and third.
The fastest growing brands were tequila producers – Mexican 1800 ($424m, +111.5%) and US Casamigos ($934m, +108.5%). Tequila has been outpacing all other spirits in terms of market growth for several years now, notes Henry Farr, deputy director of Brand Finace.
The first place among beer brands in the world took Heineken: its value has increased by almost 10% – up to $7.6 billion. Corona Extra, which headed the list last year, fell to the second position, due to a less significant increase – by 6% to $7.4 billion. The third place was retained by Budweiser – the brand has added in value of almost 20%, reaching a mark of $6.7 billion.
The fastest growth in the beer and beer drinks segment was demonstrated by Chinese brands Zhujiang ($680 mln, +44%) and Tsingtao ($2.1 bln, +39%). Unlike other companies, Zhujiang Brewery did not increase the cost of its products, offering customers an optimal price-quality ratio. This increased demand for its products from young and price-sensitive consumers. Tsingtao’s success is due to the revision of its business model: in 2022, the brand owner opened more than 250 beer houses and presented a new customer-oriented strategy, according to Brand Finance.
In the category of “wine and champagne” the most expensive brand for the third time in a row became Moet & Chandon. Its value is estimated at $1.3 billion, which is 10% less than last year.
Its closest competitor – Chinese Changyu – on the contrary, managed to show a positive dynamics of 33% (up to $1.2 billion) and rise by two positions at once over the year. Despite the fact that this brand is little known in Western countries, Brand Finance experts do not rule out that in the future it may lead the rating due to the growth of the already voluminous wine drinks market in China.
The third line in the wine and champagne segment with an indicator of $1 billion was taken by the American brand Chandon (+8%).
The fastest growing brand in this category was Penfolds ($659 mln, +48%). The Australian company Treasury Wine Estates, which owns the brand, is currently making efforts to increase its global awareness and market share. Thus, the 2022 collection for the first time includes not only Australian, but also French and Californian wines.
Structure of approved state budget income of Ukraine in 2023
Source: Open4Business.com.ua and experts.news
