Kernel, one of the largest Ukrainian agro-industrial groups, will not pay dividends for FY2022 (FY, July-2021-June-2022) due to the net loss of $41.1 mln incurred by the holding for the period.
According to the company’s announcement on the Warsaw Stock Exchange Tuesday night, the decision was made by the holding company’s shareholders at a meeting on Dec. 2022.
“Kernel Holding S.A. announces its annual general meeting of shareholders on Dec. 20, 2022, at which it declared a zero dividend for the fiscal year ended June 30, 2022,” the group said in a stock exchange statement.
“Kernel was the world’s number one producer of sunflower oil before the war (about 7% of world production) and its exports (about 12%), and was the largest producer and seller of bottled sunflower oil in Ukraine. In addition, the company was engaged in cultivation of other agricultural products and their realization.
The largest co-owner of Kernel, through Namsen Ltd. is Ukrainian businessman Andrei Verevskyi, with a 39.3% stake.
In FY2022 (July-2021 – June-2022), the holding posted net loss of $41 mln against $506 mln net profit in the previous FY. Its revenue decreased by 5% – to $5.332 bln, while EBITDA decreased 3.7 times – to $220 mln.
PJSC “Enterprise with foreign investment (EFI) “Intervzryvprom” (Gorishni Plavni, Poltava region) at the end of 2021 increased its net profit in 2.6 times compared with 2020 – up to 113.354 million UAH from 43.858 million UAH.
According to the company’s announcement about the annual meeting of shareholders, which will be held on December 27, the undistributed profits at the end of last year amounted to 72.175 mln hryvnia.
The draft decisions of the meeting proposed to the shareholders to approve the profit received in 2021 in the amount of 113,354 mln hryvnia. Of these UAH 40,879 mln to be used for paying off the losses of previous years, UAH 1 mln 599,9 thousand for the formation of the reserve capital of the company and UAH 70 mln 875,1 thousand to be left undistributed.
Not to pay dividends on the results of activity of PrJSC in 2021.
The stockholders will also summarize the results of the company’s activity for 2021, approve reports and approve major transactions.
As it was reported, in 2004-2005 Intervzryvprom put into operation at Poltava Mining and Processing Enterprise a technological line for production of emulsion and a mixing and charging machine which was purchased in the USA.
PJSC Intervzryvprom Foreign Investment Company (FIC) was founded in May 2001. It is engaged in the production of explosives.
According to the data of the National Tax Service as of the fourth quarter of 2021, PrJSC Ukrainian Financial Company and Intervzryvprom Ltd have 24.9981% each of the company’s shares, while M&Q Trading Limited and West Industrial Investment company Ltd (both in Cyprus) have 24.9972% each.
Intervzivprom Ltd. was registered in September 2000 with the registered capital of 1.5 million hryvnias. The company’s beneficiary Konstantin Nosov (Kiev) owns a 99.2% stake. Among its main activities is the production of explosives.
The registered capital of PJSC Intervzryvprom is UAH 10.666 mln, and the par value of its shares is UAH 100.
Fozzy Group PJSC (Vyshneve, Kyiv region), which is part of Fozzy Group trading and industrial group (TIG), is going to pay out UAH 120 mln in dividends to its shareholders in 2021.
According to the company’s announcement made by the National Securities and Stock Market Commission (SSMSC) about the December 12 annual general meeting of shareholders, the dividends will be paid on the basis of UAH 3.75 per one common registered share.
“Fozzy Group also plans to accrue reserve capital for 2020 in the amount of 540.1 thousand UAH, and for 2021 – 3.95 million UAH.
According to preliminary financial statements of the company, its net profit in 2021 increased 11 times compared with the previous year – up to 124.3 million UAH.
The total accounts receivable of PrJSC at the end of last year increased 1.7 times and amounted to 1.6 billion UAH. Current liabilities decreased by 3.3% to UAH 1.58 billion, while there were no long-term liabilities at the end of 2021.
Undistributed profits last year amounted to UAH 137.3 mln.
The total assets of Fozzy Group at the end of 2021 amounted to UAH 3.67 billion.
As reported, Fozzy Group ended 2020 with a net profit of 8.6 million UAH, while in 2019 received a net loss of 5 million UAH.
PJSC Fozzy Group was founded in 2005. According to the NCSSM, its shareholder is Fozzy Group LLC (98.7%). Vladimir Kostelman is listed as the ultimate beneficiary.
Fozzy Group is one of the biggest Ukrainian retailers with more than 690 outlets all over the country. The company develops retail chains of different formats: Silpo supermarkets, Fozzy Cash&Carry wholesale hypermarkets, Fora convenience stores, Thrash! discounters, Bila Romashka pharmaceutical supermarkets, Ringoo personal electronics stores.
Ovostar Union Agro-Industrial Group, one of the leading producers of eggs and egg products in Ukraine, will not pay dividends for 2021, and will use retained earnings for the year in the amount of $1.65 million to replenish working capital.
The company’s shareholders approved the corresponding decision at the annual meeting on August 3, Ovostar said at the Warsaw Stock Exchange on Thursday.
In addition, the shareholders decided to limit the total remuneration paid to top management in 2022 at the level of EUR500 thousand.
The Ovostar Union group of companies is a vertically integrated public holding company, one of the leading producers of chicken eggs and egg products in Europe. It has been a certified exporter to EU countries since 2015.
The holding company of the group is Ovostar Union N.V. – in mid-June 2011, it conducted an IPO of 25% of the shares on the Warsaw Stock Exchange and raised $33.2 million. The majority stake in the company is owned by Prime One Capital Limited, which is controlled by its CEO Boris Belikov and Chairman of the Board of Directors Vitaly Veresenko.
At the end of 2021, Ovostar received $1.65 million in net profit, which is 38% less compared to 2020. EBITDA decreased by 29% to $5.7 million, while revenue increased by 35% to $133.3 million.
PrJSC “Druzhkovka Metal Products Plant” (DZMI, Donetsk region) by 2021 increased its net profit three times compared to 2020 – up to UAH 109 million 631.667 thousand from UAH 35.840 million.
According to the agenda of the general meeting of shareholders scheduled for September 1 of this year, shareholders are invited to decide on the payment of dividends for 2021 in the amount of UAH 1.64 per share (total – UAH 108 million 984.520 thousand), leaving the rest of the profit undistributed.
The meeting will be held remotely.
At the same time, the DZMI previously announced a meeting on March 17, 2022, but it did not take place. At that time, shareholders were offered to pay dividends in the amount of UAH 0.45 per share (total – UAH 29.904 million), and to direct the rest of the net profit for reinvestment for further technical re-equipment in order to ensure the production of competitive products.
The shareholders also intend to approve a new version of the charter, preliminarily approve major transactions, and approve reports for 2021.
Retained earnings at the end of 2021 amounted to UAH 479.817 million.
The Druzhkovsky hardware plant produces machine-building and railway fasteners.
According to the NDU for the fourth quarter of 2021, an individual Alexey Spiridonov owned 14.9949% of the company’s shares, Elena Mishchenko-Solona (resident of Spain) – 13.0304%, Irina Mishchenko – 24.5167%, Sergey Popkov – 5.8611 %, Anton Malikov – 9.75%, Elena Malikova – 8.25%, Valery and Dmitry Malikov – 9.774% each.
The authorized capital of the enterprise is UAH 3.323 million.
Agro-industrial group of companies “Ovostar Union”, one of the leading producers of eggs and egg products in Ukraine, intends to refuse accrual and payment of dividends for 2021, and direct retained earnings for this period in the amount of $1.65 million to replenish working capital funds.
The company’s shareholders are invited to approve such a distribution of profits at the annual meeting on August 3, according to Ovostar’s report on the Warsaw Stock Exchange on Wednesday.
In addition, shareholders of the agro-industrial group are invited not to pay remuneration to members of its board of directors for 2021, as well as to call a tender to select an audit company for the preparation of the company’s financial statements for 2022.
The Ovostar Union group of companies is a vertically integrated public holding company, one of the leading producers of chicken eggs and egg products in Europe. The manufacturer has been a certified exporter to EU countries since 2015.
The holding company of the group is Ovostar Union N.V. in mid-June 2011, it held an IPO of 25% of the shares on the Warsaw Stock Exchange and raised $33.2 million. The majority stake in the company is owned by Prime One Capital Limited, which is controlled by its CEO Boris Belikov and chairman of the board of directors Vitaly Veresenko.
At the end of 2021, Ovostar received $1.65 million in net profit, which is 38% less compared to 2020. Its EBITDA fell 29% to $5.7 million, while revenue increased 35% to $133.3 million.
