The international vertically integrated pipe and wheel company Interpipe in January-March of this year reduced its net profit by 90.4% compared to the same period last year, to $ 12.826 million from $ 133.064 million.
According to the company’s interim report on operating and financial results for the three months of 2021, in January-March 2021 revenue decreased by 19.9%, to $ 200.952 million.
According to the company’s press release, following the results of Q1, 2021, EBITDA decreased by 53%, to $ 40 million, the amount of capital investments increased by 58%, to $ 17 million.
Net debt was $ 53 million with a net leverage ratio (net debt to EBITDA) of 0.2x.
The press release notes that in the first quarter of 2021 Interpipe continued to operate in difficult market conditions, which affected its financial results. Total revenues decreased by 20%, mainly due to the deterioration in the performance of the railway division after the imposition by Russia of embargo on the import of Ukrainian railway products. Thus, the revenues of the railway products division fell by 53%, while sales volumes decreased by 32%.
As a result, EBITDA for the first quarter of 2021 decreased by 53%. An additional negative effect is associated with the continuing global growth in market prices for goods and metal products. At the same time, the selling prices for steel pipes and railway products lagged behind the rise in production costs.
At the same time, Interpipe increased its capital investment by investing $ 17 million in overhaul and production development.
As of March 31, 2021, the company’s total debt fell to $ 110 million following the full redemption of 2024 eurobonds on January 26, 2021, keeping the net leverage ratio (net debt to EBITDA) at a low 0.2x.
The revenue of Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, in February this year increased by 17.9%, or $ 185 million compared to the previous month, to $ 1.216 billion from $ 1.031 billion.
According to the published preliminary unaudited consolidated monthly results of the company’s financial statements, total EBITDA in February was $ 503 million, which is $ 125 million, or 33.1%, higher than in January ($ 378 million), while EBITDA from participation in joint venture amounted to $ 86 million (in January – $ 80 million).
According to the report, the adjusted EBITDA of the metallurgical division of the group for February 2021 amounted to “plus” $ 257 million (in January – “plus” $ 171 million), including $ 21 million from participation in joint venture ($ 13 million), while EBITDA of the mining division – $ 318 million ($ 234 million), including from joint venture – $ 65 million ($ 67 million). The management company spent $ 6 million ($ 7 million).
Total revenue in February consisted of $ 920 million ($ 789 million in January) from the metallurgical division, $ 426 million ($ 329 million) from the mining division, and $ 130 million from intra-group sales ($ 87 million).
The total debt of the company in February increased by $ 83 million compared to January, to $ 3.033 billion from $ 2.950 billion, while the volume of cash increased by $ 61 million, to $ 1.180 billion from $ 1.119 billion.
Funds used in investment activities amounted to $ 201 million, in financial activities – $ 90 million.
Metinvest in February received $ 58 million from the resale of square billets in the amount of 95,000 tonnes. In addition, $ 170 million was received from the resale of 258,000 tonnes of flat products, 47,000 tonnes of long rolled products brought $ 32 million, 89,000 tonnes of pig iron – $ 45 million
The main shareholders of Metinvest are SCM Group (71.24%) and Smart-Holding (23.76%), jointly managing the company.
Metinvest Holding LLC is the management company of Metinvest Group.
At the end of 2020, Agroton Agroholding (Luhansk region) increased its net profit by 2.3 times compared to 2019 – up to $11.76 million, and its EBITDA increased by 14.6 times – up to $33.04 million.
According to the company’s annual financial report on the Warsaw Stock Exchange website, its annual revenue increased by a quarter – to $67.55 million, gross profit -by 3.2 times, to $32.91 million, operating profit amounted to $26.69 million versus an operating loss of $4.30 million obtained in 2019.
The assets of Agroton last year increased by 5.1% – up to $120.34 million.
The KSG Agro agricultural holding completed January-March 2021 with a net profit of $750,000 versus $3.02 million of a net loss for the same period in 2020.
According to the holding’s report on the Warsaw Stock Exchange website, its revenue over this period increased by 9%, to $3.52 million, and the company’s EBITDA by 21%, to $1.39 million.
According to the results of the first quarter, KSG Agro increased its gross profit by 18% compared to the first quarter of 2020, to $1.26, operating profit by 39%, to $1.01 million.
“As of the date of these financial statements, the total balance of ‘other financial liabilities’ as of December 31, 2020 decreased by an additional $9.4 million, with the current portion of this amount being $3.4 million. Liabilities were partially settled in cash and partially due to disposal subsidiaries Agrarian Firm Vesna LLC, Trading House UAIH LLC and Soyuz-3 LLC,” the agricultural holding said in the financial statements.
According to the agricultural producer, the retirement of three subsidiaries from the agricultural holding led to an increase in its consolidated capital from a negative value of $6.2 million “closer to a positive value.”
According to KSG Agro Board Chairman Serhiy Kasyanov, the main factors behind the growth of financial indicators were a decrease in unproductive costs, as well as an increase in demand for pork in the first quarter of 2021 after a drop in prices at the end of 2020.
The total revenue of KSG Agro from pig breeding and meat processing in the first quarter of 2021 amounted to $2.51 million, almost at the level of the same reporting period of 2020 ($2.56 million).
KSG Agro’s revenue from agricultural crops production amounted to $ 840,000 (versus $100,000 in January-March 2020). The company said that as an alternative source of income, KSG Agro used its equipment and experience to provide services for the preparation and processing of land for other agricultural producers, which brought in $720,000 in revenue.
According to the financial statements, coronavirus (COVID-19) pandemic did not have a significant impact on the profitability of the agricultural holding, it is expected that the event in the future will not have a significant impact on its business operations in future periods.
The company’s spring sowing campaign started in early April as scheduled. The plans of the spring sowing campaign are to sow 7,100 hectares with wheat, some 1,860 hectares with rapeseed and some 1,180 hectares with barley. The pig stock of the company in the first quarter of 2021 decreased by 1.7%, to 40,720 pigs.
According to the Association of Ukrainian Pig Breeders, the agricultural holding in 2020 took 11th place in the rating of Ukrainian pork producers (the rating was compiled on the basis of data on the total breeding stock of pigs), having sold 11,760 tonnes of pork in live weight over the year.
The mobile network operator Kyivstar in January-March 2021 increased its total revenue by 15% compared to the same period in 2020, to UAH 6.842 billion, according to a financial report of the company’s shareholder, the international Veon group.
According to data published on the official website of Veon, in the first quarter, Kyivstar increased its EBITDA by 15.3% compared to the same period last year, to UAH 4.658 billion. EBITDA margin grew by 0.2 percentage points (pp), to 68.1%.
Total operating revenue from mobile services rose by 14.9%, to UAH 6.357 billion.
According to the operator’s own report, Kyivstar accelerated the construction of high-speed data transmission networks, which resulted in a 24.3% increase in the number of 4G subscribers.
In turn, the use of mobile Internet per subscriber grew by 27.5%.
“We expect Kyivstar to continue to deliver double-digit revenue growth in the remainder of 2021,” Veon said in the financial report.
Veon said that Kyivstar’s 4G coverage in Ukraine reached 87%, (an increase of 10 pp year-over-year), and the penetration of 4G mobile communications in the operator’s network reached 38% of the total base.
The average revenue per user (ARPU) of mobile communications increased to UAH 82, or by 16.1%, the minutes of use (MoU) – by 5.1%, to 633 minutes.
The number of Kyivstar mobile customers in January-March decreased 1.15%, to 25.7 million.
“Kyivstar’s total mobile customer base showed a year-over-year decline largely due to the decline of second SIM cards in the market and lower gross additions during lockdown when the strict measures in 2Q20 resulted in the partial closure of Kyivstar stores and lower customer mobility,” Veon said.
Total operating revenue from fixed-line communication grew by 17.2%, to 451 million, broadband ARPU rose by 5.4%, to UAH 85. The number of broadband customers increased 11.5%, to 1.15 million.
Capex excluding licenses and leases (operational capex) increased by 11.7% year-over-year.
Revenue in the B2B segment grew by 6% in the first quarter of 2021, reflecting Kyivstar’s promotion of new digital solutions for its business customers and rapid growth in Big Data.
Veon said that digital adoption and usage have accelerated in the last twelve months. In Q1 2021, the number of MyKyivstar self-care users was at 2.7 million, up 76% year-over-year, while the Kyivstar TV service users increased to 414,342.
Kyivstar paid UAH 2.3 billion of taxes and duties to the national budget.
Kyivstar is a market-leading telecoms operator in Ukraine. It provides communication and data services based on a wide range of mobile and fixed-line technologies, including 3G.
The shareholder of Kyivstar is the international group VEON (earlier – VimpelCom Ltd.). The group’s shares are listed on the NASDAQ stock exchange (New York).
Revenue of Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, in November 2020 increased by 8.4%, or $73 million, compared to the previous month, to $941 million from $868 million.
According to the published preliminary unaudited consolidated monthly results of the company’s financial statements, the overall rate of EBITDA amounted to $263 million in November, which is $23 million more than in October ($240 million), while EBITDA from participation in the joint venture was $53 million (in October $56 million).
According to the financial statements, the adjusted EBITDA of the metallurgical division of the group for November 2020 amounted to “plus” $136 million (in October, “plus” $140 million), including $10 million from participation in the joint venture ($9 million); EBITDA of the mining division – $142 million (in October $128 million), including from the joint venture – $43 million ($47 million). The management company spent $8 million ($7 million).
Total revenue in November consisted of $759 million ($689 million in October) for the metallurgical division, $268 million ($228 million) for the mining division, and intragroup sales of $86 million ($49 million).
The total debt of the company in November increased by $8 million compared to October, to $2.940 billion from $2.932 billion, whiles the amount of cash increased by $101 million, to $813 million from $712 million.
Funds used in investment activities amounted to $81 million and in financial activities to $71 million.
Metinvest received $61 million from the resale of square billets (produced by PJSC Dniprovsky Metallurgical Plant of the Industrial Union of Donbas corporation) in November in the amount of 138,000 tonnes. In addition, $120 million was received from the resale of 225,000 tons of flat-rolled products, 67,000 tonnes of long rolled products for $34 million, and 113,000 tonnes of cast iron for $44 million.
In general, the company in November sold 517,000 tonnes of semi-finished products for $222 million, 801,000 tonnes of finished metal products for $454 million, and 165,000 tonnes of coke for $34 million.
In November, the group sold 1.589 million tonnes of iron ore for $172 million, and 49,000 tonnes of coal concentrate for $6 million.
