In January-March 2024, PJSC “Ukrainian Agrarian Insurance Company” (UASC, Kyiv) collected UAH 1.289 million of gross premiums, which is 7.33% less than in the same period a year earlier.
The rating agency Standard-Rating reported, confirming the company’s financial strength rating at the level of “uaAA” on the national scale.
According to the report on the RA website, in particular, revenues from individuals increased by 9.33% to UAH 0.082 million, and there were no premiums from reinsurers in the period under review. Thus, taking into account the share of individuals in gross premiums at 6.36%, legal entities prevailed in the insurer’s client portfolio.
Insurance payments sent to reinsurers for the first quarter of 2024 decreased by 19.18% to UAH 0.316 million compared to the same period in 2023, and the reinsurer participation ratio in insurance premiums decreased by 3.59 p.p. to 24.52%.
The company’s net written premiums in the analyzed period decreased by 2.70% to UAH 0.973 million.
In the first three months of 2024, the company paid UAH 1,741 million in insurance claims and indemnities to its clients, which is 74.97% higher than in the same period of 2023. The level of payments in the reporting period increased by 63.54 p.p. to 135.07%.
The financial result from operating activities amounted to UAH 3.515 million, and net profit amounted to UAH 6.842 million.
As of April 1, 2024, the insurer’s assets decreased by 1.25% to UAH 75.967 million, equity showed an increase of 11.57% to UAH 65.974 million, liabilities decreased by 43.85% to UAH 9.993 million, cash and cash equivalents decreased by 82.79% to UAH 3.604 million.
RA also reported that as of the reporting date, the company had formed a portfolio of current financial investments in the amount of UAH 68.666 million, which consisted of investments in government bonds.
IC Ukrainian Agricultural Insurance Company (formerly IC Salamandra-Dnipro) has been operating in the country’s market since 1995.
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, 84.750% of UASC’s authorized capital is owned by Dobrobut Agrofirm, Astarta-Kyiv LLC owns 5.5%, and Poltavazernoprodukt Investment and Industrial Company LLC owns 9.75%.
Quotes of interbank currency market of Ukraine (UAH for €1, in 01.05.2024-31.05.2024)
Source: Open4Business.com.ua
Dnipro Metallurgical Plant (DMZ, formerly Evraz-DMZ), a part of DCH Steel of businessman Aleksandr Yaroslavsky’s DCH group, posted a net profit of UAH 504.591 million in 2023, up from UAH 4.225 million in 2022.
According to the announcement of the general meeting of shareholders scheduled for August 29, 2024, in remote mode, it is planned to allocate UAH 454.601 million of the 2023 profit to repay losses of previous years.
The shareholders intend to leave the rest of the net profit undistributed.
The shareholders will consider 13 items on the agenda, including the report of the Supervisory Board, the report of the Executive Body, the report and conclusions of the Audit Committee, the auditors’ report for the year, approval of the results of financial and economic activities for the year and distribution of profits.
In addition, the shareholders will terminate the powers of the members of the Supervisory Board and the Audit Commission, amend the charter and the Regulations on the Supervisory Board, cancel the Regulations on the Audit Commission and other bodies, and elect new members of the SB.
As reported, in 2022, DMZ earned a net profit of UAH 4.225 million, while in 2021 it amounted to UAH 1 billion 725.157 million. In 2023, DMZ increased its rolled metal output by 86.2% compared to 2022, to 105.6 thousand tons, and coke output by 38.5%, to 292.7 thousand tons.
In 2021, DMZ earned a net profit of UAH 1 billion 725.157 million, while it ended 2020 with a net loss of UAH 394.091 million. In 2022, the plant reduced its rolled steel production by 74.2% compared to 2021, to 58.4 thousand tons, and coke production by 56.3%, to 211.3 thousand tons.
DMZ specializes in the production of steel, pig iron, rolled products and products made from them.
On March 1, 2018, DCH Group signed an agreement to buy Dnipro Metallurgical Plant from Evraz.
As of the first quarter of 2024, Drampisco Limited (Cyprus) owns 97.7346% of DMZ shares.
The authorized capital of the company is UAH 574.994 million, with a share price of UAH 0.25.
The Food and Agriculture Organization of the United Nations (FAO), together with the Ministry of Agrarian Policy and Food of Ukraine, with financial support from the German government, will distribute 17 generators with a capacity of 27 to 88 kW to food producers and processors, the FAO press service reports.
“It is necessary that enterprises can continue production and provide the population with fresh food even during power outages,” the statement said.
According to the report, by the end of 2024, an additional 131 generators will be distributed to enterprises located in close proximity to the front line to increase the self-sufficiency and sustainability of national producers.
As reported, under this initiative, FAO has already handed over 97 generators to small and medium-sized enterprises from Sumy, Chernihiv, Donetsk, Kharkiv, Dnipro, Zaporizhzhia, Mykolaiv, Odesa and Kherson regions.
Quotes of interbank currency market of Ukraine (UAH for $1, in 01.05.2024-31.05.2024)
Source: Open4Business.com.ua
Astarta Agro-Industrial Holding, the largest sugar producer in Ukraine, supplied 1.26 million tons of agricultural products to foreign markets in the 2023-2024 marketing year, the company’s press service reported on Facebook.
According to the report, the agricultural holding exported 512 thousand tons of corn, 375 thousand tons of wheat, 140 thousand tons of sugar, 125 thousand tons of meal, 43 thousand tons of soybean oil, 45 thousand tons of rapeseed and other agricultural products.
The main consumers of corn were Spain, Egypt, Italy, and Ireland. Spain, Indonesia, Romania, Portugal, and Italy were the main consumers of wheat. Sugar was supplied to the markets of Europe, the Middle East and Africa. Meal and soybean oil were exported to Hungary, Poland, the UAE, Romania, and Saudi Arabia. The main consumers of organic products are Switzerland, the Czech Republic, France, and Germany.
In total, Astarta’s agricultural products were exported to 46 countries, the agricultural holding summarized.
In 2023, Astarta, the largest sugar producer in Ukraine, reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.
Astarta CEO Viktor Ivanchik’s family currently owns 40.68% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of shares belong to the company itself and were previously bought back as part of a buyback.
According to the National Bank of Ukraine, as of October 1, 2023, Credit Agricole Bank ranked 11th in terms of total assets (UAH 100.36 billion) among 63 operating banks in the country, with 141 branches. The bank is fully owned by French Credit Agricole SA.
