Business news from Ukraine

Energy trader EKU transferred to budget first dividends of UAH 17 million

Energy Company of Ukraine” (“EKU”) has transferred about UAH 17 mln to pay dividends for 2022.
As noted in the release of the company on July 4, this is the first dividends received by the state from the new energy trading company, which began its commercial activities in August last year.
It is indicated that the net profit of EKU for the five months of 2022 amounted to 33.9 million UAH.
According to the decisions of the government and the State Property Fund (SPF) of Ukraine, to which the state company is subordinated, 50% of this amount shall be used to pay dividends, 30% – to counteract the armed aggression of the Russian Federation, and 20% – for the costs provided for by the financial plan of the company for 2023, the company explained.
Thus, in total, “EKU” will allocate 27 million UAH to the budget and to the fight against the Russian Federation.
“In a short time we managed to build a capable company from scratch and reach the planned level of profit. The state has strengthened its position in the energy market and began to earn in highly competitive segments, where it was almost not present before”, – commented the general director of “EKU” Vitaly Butenko, whose words are given in the release.
As Ukrainian News earlier reported, JSC Energy Company of Ukraine (EKU) is a diversified energy supplying company, which deals with buying, selling and supplying energy resources to commercial customers, including import and export operations. 100% of the company’s shares are owned by the state.

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Structure of approved state budget income of Ukraine in 2023

Structure of approved state budget income of Ukraine in 2023

Source: Open4Business.com.ua and experts.news

Changes in consolidated budget expenditures in 2021-2023 (%)

Changes in consolidated budget expenditures in 2021-2023 (%)

Source: Open4Business.com.ua and experts.news

State Aviation Enterprise “Ukraine” again announced tender for insurance with budget of more than 23 mln UAH

On May 12, the State Aviation Enterprise (SAE) “Ukraine” again announced a tender for services of compulsory civil aviation insurance: compulsory liability insurance of commercial aviation civil aircraft operator for damage caused to third parties and air carrier liability for damage caused to passengers and baggage; compulsory civil aircraft insurance; compulsory insurance of aircrew members and other aviation personal
According to a message in the electronic procurement system Prozorro, the expected value of the purchase of insurance services is UAH 23.392 million.
The tender bid is secured by an electronic bank guarantee of UAH 233.9 thousand.
The deadline for bids is May 20.
As reported, a similar tender with the same budget was announced on April 28, after a tender with a budget of UAH 17.1 million, announced on March 9, failed due to lack of proposals.
The State Aviation Enterprise “Ukraine” was established to organize, provide and perform air transportation, special flights of the highest official delegations of Ukraine and other states in the country and abroad in compliance with the requirements and rules, which are stipulated in the relevant regulatory documents.

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“Naftogaz” has paid almost 33 bln UAH of taxes to budget of Ukraine

Naftogaz group has paid more than UAH 30 billion of taxes to the state budget of Ukraine in the four months of 2023, which is 15% of all tax revenues to it during this time.
According to a report on the group’s website on Monday, Naftogaz Group paid a total of nearly 33 billion hryvnias to the state and local budgets as of May 1, 2023.
“Despite the war and the consequences it caused, Naftogaz Group remains one of the largest taxpayers in Ukraine and a reliable support for the treasury. Only in April we accumulated 6.2 billion UAH of taxes, which is almost 13% of all tax revenues of the state budget of the country”, – Chairman of the Board of Naftogaz of Ukraine Alexei Chernyshov was quoted in the message.
As Ukrainian News earlier reported, Ukrhazvydobuvannia (UHV), 100% owned by Naftohaz Ukrainy, transferred UAH 6.32 billion of rent payments to the country’s consolidated budget based on its activities in January-March 2023.

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PrivatBank will pay 24.2 bln UAH in dividends to state budget

State-owned PrivatBank, the largest in the market, will pay dividends to the state budget in 2022 in the amount of 24 billion 158.37 million UAH, or 80% of net profit.
According to the report of the Ministry of Finance, the distribution of profits was approved by the Cabinet of Ministers at the meeting on April 28.
Net profit of PrivatBank for 2022 was UAH 30.198 billion, a decrease of 13.7% compared with 2021, in which the bank paid to the state budget UAH 28 billion in dividends, which also amounted to 80% of net profit.

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