Business news from Ukraine

“Retail Group” increased its net loss by 18%

22 March , 2023  

JSC “Retail Group”, that manages the food network “Velika Kishenya” and “Velmart”, on the basis of 2022 net loss increased by 18% – up to UAH 704 thousand.
According to the announcement of the company in the information disclosure system of the National Commission on Securities and Stock Market, its assets for the year increased 2.7 times and amounted to UAH 653,5 mln.
According to preliminary data, the uncovered loss in 2022 amounted to 33 thousand UAH, the total accounts receivable – 519.5 million UAH, while in 2021 it amounted to 1.5 million UAH. Current liabilities by the end of the year amounted to UAH 570.2 mln. compared with UAH 154.3 mln. in the previous year. Long-term liabilities amounted to 523.9 mln UAH.
During the meeting the shareholders intend to approve significant contract actions for 2022 for the total amount of more than 3.6 billion UAH.
According to the NCCFM, as of the fourth quarter of 2022 the shareholders of Retail Group are Hazinart Limited (Cyprus, 87.4%), Aeroholding LLC (7.8%). The beneficiary is Roman Lunin.
The Retail Group holding founded in 2005 manages the retail chains Velimart, Velika Kishenya, VKExpress and VK Select in Ukraine, and the supermarket chain Green Hills Market in Moldova. The company also owns the chain of seven shopping and entertainment centers “Equator” in Ukraine.
According to Forbes Ukraine, the revenues of the retail direction of the holding in 2021 amounted to 12.2 billion UAH.

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