Business news from Ukraine

Business news from Ukraine

Quotes of interbank currency market of Ukraine (UAH for 1 pln, in 01.01.2024-31.01.2024)

Quotes of interbank currency market of Ukraine (UAH for 1 pln, in 01.01.2024-31.01.2024)

Source: Open4Business.com.ua and experts.news

Energy Support Fund has raised over EUR400 million from 13 partner countries and organizations

The Energy Support Fund has managed to raise over EUR410m from 13 partner countries and international organizations as of April 9.

“The remaining amount is the announced contributions, which will soon be transferred by the sponsors,” the Ukrainian Energy Ministry said on Tuesday.

As the ministry noted, the special trust of partners has been secured thanks to the system of transparent distribution of funds. In particular, the Ministry of Energy has a working group on humanitarian aid, which considers requests from Ukrainian energy companies to purchase the necessary aid with the Fund’s resources.

The Fund financed the most urgent needs of Ukrainian energy companies, in particular, the purchase of generators, power transformers, circuit breakers, spare parts, technical means, materials, special equipment, fuel, means of physical protection of energy facilities.

“Most of all funds are distributed to meet the urgent needs of energy companies from frontline regions – Kharkiv, Mykolayiv, Sumy, Zaporizhzhya, Kherson, Odessa,” the Ministry of Energy said.

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Boryspil automobile plant in Kyiv region sold for UAH 108 mln

State-owned Ukreximbank (Kiev) is selling a complex of buildings and structures, as well as a land plot in Kiev region through the OpenMarket electronic bidding system (SE “SETAM” of the Ministry of Justice of Ukraine), according to a press release of SETAM.

The starting price of the lot is 108 million 412 thousand 224 UAH. The auction is scheduled for April 17. The guarantee fee for participation in the auction is UAH 10.841 mln.

The press release notes that Ukreximbank is selling the car plant, but does not specify the name, but judging by the address of location in Boryspil and the attached photos, it is PJSC “Boryspil Automobile Plant” (“BAZ”) of the corporation “Etalon”.

The total area of the sold lot is 18.67 thousand square meters, including the main production building (7679.9 square meters) and production building (644.8 square meters); administrative and utility building with canteen (3 213.6 square meters); spare parts warehouse (4016.6 square meters) and other buildings.

The land plot has an area of 7.5205 hectares. Target purpose: for placement and operation of main auxiliary and auxiliary buildings and structures of processing, machine-building and other industries.

In the press release it is noted that the buildings and structures are in exploitable technical condition. The facility is fully operational as a production and warehouse complex with an administrative part. Its territory is fenced and guarded.

Borispol Motor Plant was established in 2002, where the corporation “Etalon” organized the production of small class buses. Currently, buses of various classes and trolleybuses are produced at the corporation’s Chernihiv auto plant.

According to the register of court decisions, in January 2023 PJSC BAZ was recognized bankrupt and liquidation procedure was opened.

According to the data of the National Commission on Securities and Stock Market for the third quarter of 2023, Bodmin AG (registered in Switzerland) owns 74.37% of BAZ shares, another 22.81% belongs to Kirayn LLC (Kiev).

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Analysts forecast oil prices this year in range of $80-100 per barrel

Oil prices will range between $80 and $100 a barrel this year, with global oil demand rising by 1.9 million bpd, according to Russell Hardy, chief executive of international trader Vitol.

“That seems like a reasonable range for the market given that OPEC is controlling global inventory levels,” he said during a conference in Lausanne. – Supply in the market is really tight.”

Brent crude futures topped $90 a barrel last week amid geopolitical risks and signs of strong demand.

The International Energy Agency (IEA) forecast global oil demand growth of 1.4 million bpd this year, 500,000 less than the forecast of Vitol’s head.

Fuel demand in China will continue to grow, Hardy expects, but the peak will come “relatively soon”.

Quotes of interbank currency market of Ukraine (UAH for €1, in 01.01.2024-31.01.2024)

Quotes of interbank currency market of Ukraine (UAH for €1, in 01.01.2024-31.01.2024)

Source: Open4Business.com.ua and experts.news

 

“Ukrzaliznytsia” ended first quarter with profit – Lyashchenko

In January-March 2024, Ukrzaliznytsia (UZ) operated at a profit, UZ CEO Yevhen Lyashchenko said at a meeting with journalists, but did not specify the specific amount of the profit.
According to the presentation made at the meeting, in 2023, UZ’s net profit amounted to UAH 5 billion.
Among the key factors that had a positive impact on UZ’s financial results, the presentation mentions revenue from passenger transportation, which increased due to an 11% increase in passenger turnover (+1.42 billion UAH) a decrease in the cost of materials and repairs due to cost-saving measures, including the use of old materials (+UAH 4.81 billion), a more stable hryvnia exchange rate than initially expected (+UAH 4.53 billion) and the restoration of the usefulness of assets in the de-occupied territories (+1.88 billion).
In addition, the cancellation of the land tax liability for facilities in the occupied territories (+UAH 0.69 billion), reduction of the land tax rate due to the re-registration of land plots (+UAH 0.55 billion), and growth in revenues from auxiliary activities: security services by 25% and passenger services by 24% (+UAH 527 million) had a positive impact.
At the same time, UZ’s financial performance was negatively affected by a decline in freight revenue in 2023 due to the temporary suspension of the grain corridor and conventional restrictions on agricultural exports to the EU (-UAH 8.57 billion), as well as a salary increase to avoid staff outflow (-UAH 3.41 billion).
According to Lyashchenko, UZ transferred 50% of its profit in 2023 to the state budget in the form of dividends.
The UZ CEO also noted that the company continues to restore infrastructure damaged by Russian attacks at its own expense. In addition, as one of the largest electricity distribution operators, it has invested in the protection of substations and critical energy infrastructure.

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