Pivdennyi GOK (Northern Mining and Processing Plant, Kryvyi Rih, Dnipro Oblast), a part of Metinvest Group, reported a net profit of UAH 866.090 million in 2023, compared to a net loss of UAH 2 billion 972.333 million in 2022.
According to the decision of the sole shareholder, Metinvest B.V. (Netherlands), which owns 100% of the shares in Pivnichnyi GOK, at its meeting on April 30, 2024, the profit for 2023 was left undistributed.
Another shareholder’s decision – at the meeting of May 14, 2024 – changed the company’s management structure to a one-tier one with the corresponding amendments to the charter. At the same time, after the registration of the updated charter, the supervisory board was liquidated and a four-member board of directors was created. It includes Metinvest CEO Yuriy Ryzhenkov, Metinvest CFO Yulia Dankova and Metinvest Legal Director Svetlana Romanova as non-executive directors for three years, as well as Igor Tonev as executive director, whose position as CEO is being eliminated.
Earlier, based on the shareholder’s decision of March 28, 2024, Andrey Skachkov’s powers as CEO were terminated by agreement of the parties, and Tonev was appointed CEO.
On May 24, 2024, the state registration of the new version of Northern GOK’s charter took place. On May 25 this year, at a meeting of the Board of Directors of Northern GOK, Metinvest’s CFO Yulia Dankova was elected Chairman of the Board of Directors for a term from May 25, 2024 to May 24, 2027 inclusive. Igor Tonev was elected Chief Executive Officer with a term of office from May 25, 2024 to April 2, 2025 inclusive. And it was determined that in accordance with clause 7.8 of the Charter of Northern GOK, the chief executive officer is referred to as the general director in the company’s activities in general, organizational structure, staffing and document flow.
By the decision of the shareholder of June 13, 2024, at its meeting, the net profit of UAH 580.409 million received in January-March of this year is allocated to pay dividends for 2024. At the same time, UAH 0.25 of dividends are paid per ordinary share.
The Board of Directors of the company (Minutes No. 3 dated June 14, 2024) decided to establish the date of compiling the list of persons entitled to receive dividends, the procedure and term for their payment. The start date of dividend payment is July 1, 2024, and the end date of dividend payment is December 13, 2024 inclusive.
As reported, for 9M2023, Northern Mining earned a net profit of UAH 681.867 million, while it ended the same period in 2022 with a net loss of UAH 2 billion 227.488 million. Retained earnings as of the end of September 2023 amounted to UAH 10 billion 727.921 million.
The company ended 2022 with a net loss of UAH 2 billion 972.333 million, while in 2021 it made a net profit of UAH 25 billion 293.042 million.
It was also reported that in April this year, Metinvest introduced a new model for the operation of Kryvyi Rih mining enterprises, uniting mining and processing plants in Kryvyi Rih under a single management. Central, Ingulets and Northern GOKs are managed by a single administrative and management center. For this purpose, a mining department was set up within the group’s operating directorate. The department is headed by Igor Tonev, who has also been appointed as the sole CEO of the three GOKs. Prior to this position, he was the head of Metinvest-SMC’s sales company since 2019 and has been with Metinvest since 2011.
The plant specializes in the extraction, processing and sale of iron ore.
Metinvest B.V. owns 100% of the shares in Northern GOK.
Northern GOK is part of Metinvest Group, whose major shareholders are System Capital Management (SCM, Donetsk) (71.24%) and Smart Holding Group (23.76%). Metinvest Holding LLC is the management company of Metinvest Group.
The authorized capital of Yenakiieve Mining is UAH 579.707 million.
Concern-Electron JSC (Lviv) will pay dividends to shareholders for 2023 totaling UAH 8 million at the rate of UAH 0.5 per share (par value UAH 3.5) from June 25 to October 26 this year.
According to the information in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the decision to pay dividends was made by the general meeting of shareholders on April 26.
According to the company’s financial report on its website, in 2023, its consolidated net profit amounted to almost UAH 17 million, compared to a consolidated loss of UAH 26.1 million a year earlier.
In particular, the net profit of the parent organization, Concern-Electron JSC, amounted to UAH 13.1 million (a loss of UAH 23.5 million a year earlier) on revenues of UAH 0.3 million (at the level of 2022).
Concern-Electron Group, in addition to the parent organization, includes 12 assets, and employed 688 people at the beginning of 2024 (752 people a year earlier).
As of the beginning of this year, Concern-Electron JSC’s shareholders numbered 20.468 thousand people, and the owners of more than 5% of the shares are President and Chairman of the Board Yuriy Bubes (5.6% of shares), Chairman of the Supervisory Board Sergey Medvedev (5.06%), as well as Victoria Starodub (8.73%) and Mikhail Sholomitsky (5.76%).
Last year, the largest net income in the group was generated by Spheros-Electron Plant LLC, a manufacturer of heaters and heat exchangers for cars, which generated UAH 167.5 million (55% more than in 2022) with an 82% increase in net profit to UAH 24.9 million. Concern-Electron JSC holds an 80% stake in the company.
Vehicle manufacturer Zavod Elektronmash LLC, in which Concern-Electron JSC owns a 55% stake, showed a 23.5% decrease in net income to UAH 129.8 million, and net profit amounted to UAH 0.9 million against a loss of about UAH 10 million a year earlier.
The group’s top three in terms of net income last year also included FLC’s subsidiary Electron-Leasing, which leases equipment and vacant premises in office business centers, as well as industrial and warehouse space. The company increased its revenue by 18.6% to UAH 101.9 million, earning UAH 4.1 million in net profit.
Another major subsidiary, Polymer-Electron Plant (production of plastic and polystyrene foam products), ended 2023 with a net profit of UAH 1.2 million against a loss of UAH 0.8 million, with net income increasing by 30% to UAH 80.4 million.
As reported, Concern-Electron JSC also paid dividends of UAH 0.5 per share in 2022.
PrJSC Ingulets Mining and Processing Plant (InGOK, Kryvyi Rih, Dnipro region), a member of Metinvest Group, reduced its net loss by 5 times to UAH 167.235 million in 2023 from UAH 851.259 million in 2022.
According to the decision of the sole shareholder, Metinvest B.V. (Netherlands), which owns 100% of the shares of PJSC “InGOK”, at its meeting on April 30, 2024, the losses for 2023 will be covered by future periods.
Another shareholder’s decision – at the meeting of May 14, 2024 – changed the company’s management structure to a one-tier one with the corresponding amendments to the charter. At the same time, after the registration of the updated charter, the supervisory board was dissolved and a four-member board of directors was created. It includes Metinvest CEO Yuriy Ryzhenkov, Metinvest CFO Yulia Dankova and Metinvest Legal Director Svetlana Romanova as non-executive directors for three years, as well as Igor Tonev as executive director, whose position as CEO is being eliminated.
Earlier, based on the shareholder’s decision of March 23, 2024, Oleksandr Gerasymchuk’s powers as CEO were terminated by agreement of the parties, and Tonev was appointed CEO.
On May 24, 2024, the state registration of the new version of the charter of InGOK took place. On May 25 this year, at a meeting of the Board of Directors of InGOK, Metinvest’s CFO Yulia Dankova was elected Chairman of the Board of Directors for a term from May 25, 2024 to May 24, 2027 inclusive. Igor Tonev was elected Chief Executive Officer with a term of office from May 25, 2024 to April 2, 2025 inclusive. And it was determined that in accordance with clause 7.8 of the charter of InGOK, the chief executive officer in the general activities, organizational structure, staffing and document flow of the company is called the general director.
By the shareholder’s decision of June 13, 2024, at its meeting, the net profit of UAH 1 billion 613.7 million received in January-March of this year is allocated to pay dividends for 2024. At the same time, almost UAH 0.585 of dividends are paid per ordinary share.
The Board of Directors of the company (Minutes No. 2 dated June 14, 2024) decided to establish the date of compiling the list of persons entitled to receive dividends, the procedure and term for their payment. The start date of dividend payment is July 1, 2024, and the end date of dividend payment is December 13, 2024 inclusive.
As reported, InGOK completed 9 months of the year. 2023 with a net loss of UAH 1 billion 316.821 million, while in the same period of 2022 it received a net profit of UAH 113.843 million. The company’s retained earnings as of the end of September 23 amounted to UAH 13 billion 869.051 million.
InGOK ended 2022 with a net loss of UAH 851.259 million, while in 2021 it received UAH 20 billion 446.101 million in net profit. In 2020, InGOK reduced its net profit by 75.3% year-on-year to UAH 1.5 billion.
It was also reported that in April this year, Metinvest introduced a new model for the operation of Kryvyi Rih mining enterprises, uniting mining and processing plants in Kryvyi Rih under a single management. Central, Ingulets and Northern GOKs are managed by a single administrative and management center. For this purpose, a mining department was set up within the group’s operating directorate. The department is headed by Igor Tonev, who has also been appointed as the sole CEO of the three GOKs. Prior to this position, he was the head of Metinvest-SMC, a sales company, since 2019, and has been with Metinvest since 2011.
The company specializes in the extraction and processing of ferruginous quartzite from the Ingulets deposit located in the southern part of the Kryvyi Rih iron ore basin. It produces iron ore concentrate. The company’s production capacity is 14 million tons of iron ore concentrate per year.
Metinvest B.V. (Netherlands) owns 100% of the shares of PrJSC “InGOK”.
The authorized capital of PrJSC “InGOK” is UAH 689.906 million, the share price is UAH 0.25.
InGOK is a part of Metinvest Group, whose major shareholders are System Capital Management (SCM, Donetsk, 71.24%) and Smart Holding Group (23.76%). Metinvest Group’s management company is Metinvest Holding LLC.
Zaporozhkoks, one of Ukraine’s largest coke and chemical producers, earned a net profit of UAH 399.840 million in 2023, which it retained as undistributed.
According to the minutes of the general meeting of shareholders held on April 30, a copy of which is available to Interfax-Ukraine, the meeting was attended by both shareholders – Metinvest B. V. (the Netherlands), which owns 57.2347% of the company’s shares, and Zaporizhstal, which owns 42.7653% of the shares.
The meeting approved the report of the Supervisory Board for 2023, recognizing its work as satisfactory. The shareholders also recognized the work of the company’s executive body as satisfactory, took note of the audit results and approved the results of the plant’s financial and economic activities for the past year, determined the procedure for distributing profits and gave preliminary consent to enter into significant transactions.
In addition, they amended the employment contract with the executive director.
According to the minutes of the other general meeting of shareholders of the company held on June 13 this year, a copy of which is also available to the agency, the meeting was attended by both shareholders – Metinvest B. V. (Netherlands) and “Zaporizhstal” Steel Works.
In January-March 2024, the company received a net profit of UAH 289 million 834,763 thousand, which it was decided to allocate to pay dividends for 2024. At the same time, almost UAH 2.43 of dividends are paid per ordinary share.
The Board of Directors of the company (Minutes No. 3 dated June 14, 2024) decided to establish the date of compiling the list of persons entitled to receive dividends, the procedure and term for their payment. The start date of dividend payment is July 1, 2024, and the end date of dividend payment is December 13, 2024 inclusive.
As reported, Zaporozhkoks earned a net profit of UAH 163.576 million in January-September 2023, while the same period in 2022 ended with a net loss of UAH 385.255 million. Retained earnings as of the end of September 2023 amounted to UAH 3 billion 131.849 million.
The plant ended 2022 with a net loss of UAH 249.382 million, while in 2021 it made a net profit of UAH 2 billion 997.541 million. In 2020, the plant increased its net profit by 72.2% year-on-year to UAH 166.436 million.
The company ships its products to the domestic market, Europe, Turkey, and Canada. The structure of chemical sales in 2022 was as follows: 50.4% – domestic market, 49.6% – exports.
“Zaporizhkoks has a full technological cycle of coke and chemical products processing.
Metinvest B. V. (the Netherlands) owns 57.2347% of the company’s shares, while Zaporizhstal owns 42.7653%.
The company’s authorized capital is UAH 1.193 million, with a share price of UAH 0.01.
“Metinvest is a vertically integrated mining group of companies. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage the company.
Metinvest Holding LLC is the management company of Metinvest Group.
Ukrnafta has transferred UAH 3.5 billion in dividends to Naftogaz of Ukraine based on its 2023 performance, the company’s press service said on Tuesday.
Taking into account the previously transferred dividends for the previous year, the company paid a total of about UAH 8 billion to another shareholder represented by the Ministry of Defense of Ukraine under this item.
“About UAH 8 billion has been transferred to the accounts and depositories of the company’s state shareholders – the Ministry of Defense of Ukraine and Naftogaz of Ukraine. The company is supporting the country’s economy and working for victory,” said Sergiy Koretsky, CEO of Ukrnafta.
As a reminder, in 2023, the company also paid UAH 25.7 billion in taxes and fees to the budgets of all levels.
As reported, in early February, the Cabinet of Ministers of Ukraine established that Naftogaz of Ukraine should allocate 95% of its net profit to dividends, and Ukrnafta – 30%, provided that 50% of the profit will be used for capital investments approved by the government in the company’s financial plan for 2024.
“Ukrnafta, in which Naftogaz owns 50%+1 share, announced that in 2023 it made a net profit of UAH 23.6 billion compared to a loss of UAH 1.1 billion in 2022.
Earlier, Naftogaz Group CEO Oleksiy Chernyshev said that in terms of dividend policy, Naftogaz would receive UAH 12.1 billion from Ukrgasvydobuvannya last year, UAH 6.6 billion from Ukrtransgaz, UAH 5.3 billion from Ukrtransnafta, and UAH 3.5 billion from Ukrnafta.
“Ukrnafta is the largest oil producer in Ukraine and operates a national network of 537 filling stations, of which 456 are in operation.
The company is implementing a comprehensive program to restore operations and update the format of its filling stations. Since February 2023, Ukrnafta has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. On November 5, 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state a share of corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense.
Astarta Agro Holding will pay dividends for 2023 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the previous year.
As stated in the company’s announcement on the Warsaw Stock Exchange, this decision was made by the shareholders’ meeting on June 4 this year, instructing the board of directors to determine the dates of payment.
As reported, Astarta first paid EUR12.155 million in dividends in June 2021 based on the results of 2020 in the same amount as proposed now – EUR0.5 per share. In the military year of 2022, the company refused to pay them, and then paid them in 2023.
Astarta’s shares are currently quoted at PLN29.25 per share (about EUR6.81 per share), while about a year ago, when the dividend decision was approved, the rate was PLN32.80 per share (about EUR7.28 per share).
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.
