Business news from Ukraine

Business news from Ukraine

Nova Posta airline has made its first flight

Supernova Airlines, part of Nova Posta group of companies, has performed its first flight on the Riga-Zheshuv-Riga route, the postal operator’s press service said on Friday.
“The plane delivered 7 tons of international parcels of Nova Posta customers from Riga International Airport to Poland’s Rzeszów. After that, the parcels were reloaded into trucks and sent to Ukraine,” the release said.
According to it, the first flight was performed with an ATR 72 aircraft with a capacity of up to 7.5 tons, in cooperation with the Latvian airline RAF-Avia, whose cargo fleet also includes a SAAB 340 aircraft with a capacity of up to 3.7 tons.
Supernova Airlines plans to fly on this route twice a week – every Tuesday and Thursday.
As earlier reported, on January 6, Supernova Airlines received a Ukrainian operator certificate enabling to commence cargo flights. An-26-100 manufactured in 1978 was announced to be in the airlines’ fleet.

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“PKBF-Ukraine” increased production of corrugated boxes by 38.3%

A major Ukrainian producer of corrugated board – Poninkovsky Cardboard and Paper Mill-Ukraine (PKBF-Ukraine, Khmelnitsky region) in January-April increased the production of corrugated board on 38.3% compared with the same period in 2022 – up to 26.33 million square meters.
According to statistical data provided to Interfax-Ukraine agency by UkrPapir association, thus, the factory continues to be in the top three after Kyiv Cardboard and Paper Mill and Trypillya Packaging Mill in terms of production of these products.
As reported, in January-March the factory increased corrugated packaging output by 30.4% compared to the same period last year.
According to statistics, in January-April 2023 it also increased the production of paper at the factory – by 30.5% to 0.25 thousand tons, and containerboard – by 36.0% to 22.9 thousand tons.
At the same time in April, production of corrugated boxes Ponikovsky CBF increased by 64.5% compared to April 2022, up to 7.25 million square meters, and paper and cardboard – by 38%, to nearly 7 thousand tons.
According to “UkrPapir” statistics, in January-April Poninkovsky CBF-Ukraine produced goods for nearly 805.13 million UAH – by 46.8% more than a year earlier.
As reported with reference to the data collected by the Association from the major enterprises of the industry, for four months in Ukraine produced 172.76 thousand tons of paper and cardboard (almost 14% more), and 155.30 million square meters of cardboard boxes (+26.3%).
Poninkovsky factory (formerly – Poninkovsky Cardboard and Paper Mill), once the largest manufacturer of school notebooks, now has one main production – paper and cardboard, mainly produces corrugated cardboard and corrugated packaging, as well as wrapping, waste paper.
The plant is part of the United Carton Company-Ukraine (UCCU, Lutsk), whose production assets include, in particular, the Lutsk Paper Mill-Ukraine (Volyn Region), which in January-April (according to “UkrPapir”) produced 17.7 thousand tons of various cartons – 52.2% more.
Businessman Mykola Lobov is listed in the state register as the beneficiary of JCC.
As reported, in 2022 Poninkovska CBF-Ukraine produced goods worth 2 billion 446 million UAH – 6.5% more than a year earlier.

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Kokhavynsk Paper Mill increased production volume by 33.7%

In January-April this year, Kokhavynska Paper Factory (KPF, Lviv region), which produces hygienic paper products (TM “Kokhavinka”), increased production volume by 33.7% compared to the same period last year – almost to UAH 368 million, according to statistics from “UkrPapir”.
As reported, at the end of the first quarter, the increase in this indicator was 39% compared to the same period of 2022.
According to statistical data provided by Association to Interfax-Ukraine, in physical terms the production of paper-base for sanitary products at the plant increased by 5.1% to 13.8 thousand tons.
Including in April, its output rose slightly to 3.49 thousand tons, compared to April 2022.
The output of toilet paper in rolls for the four months of this year increased by 4% – up to 43.88 million pieces, and the KBC factory confidently holds second place in its production after the Kiev KBC (almost 78 million pieces), which reduced the production of this product by 29.6% during this period.
The Kokhavinsk Paper Mill, which has been in operation since 1939, produces base paper for sanitary and hygienic goods as well as toilet paper and paper towels.
The capacity of the paper machines is 19 thousand tons per year, the processing equipment is 90 million rolls per year.
The factory has hardly stopped production since the beginning of Russia’s full-scale aggression in Ukraine.
As reported, last year KBF produced 975.3 mln hryvnia – 44.8% more than a year earlier. Net profit decreased by 12.7% to UAH 52.4 mln, income increased by 46.5% to UAH 978.9 mln.

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President Zelensky met with Prime Minister of Iraq

Ukrainian President Vladimir Zelensky invited Iraqi Prime Minister Muhammad Shia Sabbar al-Sudani to visit Ukraine to discuss areas of cooperation.

“During a meeting with Iraqi Prime Minister Muhammad Shia Sabbar As-Sudani thanked for Iraq’s solidarity with Ukraine and the Ukrainian people, a tough stance in support of the sovereignty and territorial integrity of our state, the principle of inviolability of borders and compliance with international norms,” Zelensky wrote in his Telegram channel.

He met with Iraq’s prime minister Friday while in Jeddah, Saudi Arabia.

“We discussed possible ways for Iraq to participate in the implementation of the Ukrainian peace formula, which is a reliable tool to stop the war, as well as interaction in the humanitarian sphere. We are grateful to Iraq for the support of Ukraine within the framework of international organizations, in particular the resolutions of the UN General Assembly. Invited the Prime Minister of Iraq to visit Ukraine to discuss important areas of interstate cooperation”, – also wrote Zelenskyy.

Motor (transport) insurance bureau of Ukraine reduced by five companies

The general meeting of members of the Motor (Transport) Insurance Bureau of Ukraine on May 18 decided to exclude from its membership IC Providna, IC PROSTO-insurance, IC Omega, IC Motro-Garant and UASC ASKA, thus reducing the total number to 34 companies, a meeting participant told Interfax-Ukraine agency.
According to him, the meeting did not come to a unanimous decision on the election of a new Presidium of MTSBU, leaving the current composition to work.
As reported, the National Bank of Ukraine (NBU) on March 23, 2023 has revoked PJSC IC “Providna” license to conduct business activities in the provision of financial services, in particular compulsory insurance of civil liability of owners of vehicles and March 27, excluded from the State Register of financial institutions. The decision was taken due to failure to eliminate violations of license conditions.
JSC “PROSTO-insurance” was excluded from the State Register on May 16 in connection with the cancellation of all previously available licenses to provide financial services, due to the fact that the ownership structure of the insurer does not meet the requirements of the legislation.
Starting February 24, 2023, АSК “Omega” lost the right to enter into contracts of compulsory insurance of civil liability of owners of ground vehicles (CMTPL). The reason for this decision was the NBU canceling the license of the company to conduct business activities in the provision of financial services due to the fact that the ownership structure of the insurer does not meet the requirements of Ukrainian legislation.
On December, 5 2022 NBU has suspended license of ALC IC Motor-Garant due to noncompliance of the company with requirements of the Regulation on licensing and registration of financial service providers and their activities in the provision of financial services, namely the requirements for business reputation of financial service providers.
On May 1 NBU canceled the last license of UJSIC “ASKA” and excluded the company from the State Register of Financial Institutions. Due to completion of reorganization procedure of the company by means of its merger with PrJSC IC “VSO”.

ASKA-Life has new general director

The Supervisory Board of Ukrainian Joint Stock Insurance Company ASKA-Zhizn (Kiev) on May 17 terminated the powers of the general director Elena Pantova due to the end of her employment contract, according to the insurer’s information published in the information disclosure system of the National Securities and Stock Market Commission of Ukraine (NSCSML).
It was also specified that by the decision of the Supervisory Board, Lyudmila Berkovich was appointed Acting General Director of the company, who during the last five years held the position – member of the Supervisory Board of “IC ASKA DS”, Deputy General Director for finance of “UASKA ASKA” and Deputy General Director for finance of “UASKA-Life”.
As it was reported, in January-March, 2023 “ASKA-Life” collected net and gross insurance premiums for the amount of 44,968 million UAH, which is by 49,2% less than in the same period of 2022.
The company has paid out UAH 4,310 mln to customers during the three months of 2023, which is 57,3% more than in the same period a year earlier.
The administrative costs of the company during the reporting period decreased by 8.8% going to UAH 2.9 mln, and the expenses on sales increased 2.4 times going to UAH 39.010 mln.
The financial loss from operations in the first quarter of 2023 decreased to UAH 9.027 mln from UAH 15.073 mln in the first quarter of 2022.
The net loss has amounted to UAH 6,5 mln that is 2,2 times less than in January-March 2022.
ASKA-Life registered in 2003, specializing in life insurance.
As reported on its website, as of Q4 2022, 55,6667% of the company is owned by SCM Finance Limited, Alexander Sosis – 44,3333%.

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