Private Joint-Stock Company “Radomyshl Brewery” (Radomyshl, Zhytomyr region), which is a part of “Persha Privatna Brovarnya” group, has increased its net loss by 57,3% – up to 149,42 million UAH in 2022 in comparison with the previous year.
According to the company’s notice in the information disclosure system of the National Securities and Stock Market Commission (NSSMC) about the planned annual meeting on April 28, its assets for the year increased by 23.9%, to UAH 3.82 billion, and the uncovered loss increased by 7.2%, to UAH 2.23 billion.
Total accounts receivable of the plant increased 16.5% during the year, to UAH 1.85 billion, long-term liabilities increased 20.7% to UAH 1.43 billion, and current liabilities increased 21.6% to UAH 3.62 billion.
The company increased its inventory by 57% to UAH 0.72 bln and had UAH 17.2 mln of free cash at the end of the year.
The shareholders are not allowed to pay out dividends and will have to repay their losses at the expense of future profits.
As earlier reported, Persha Privatna Brovarnya LLC was founded in 2004. It operates two breweries – in Lviv and Radomyshl with a total capacity of 2.4 million hectoliters of beer per year.
According to the PPB website, the largest shareholder of the company and its CEO is Ukrainian Andrey Matsola, while the second largest stake belongs to the EBRD. The rest of the shares are divided between Oettinger Group and the managing partners of OASIS Group.
The company’s brand portfolio includes beer brands Avtorskoe, StareMisto, Zhiguli Barne, Oettinger, CervenaSelka, Bavaria, Galitskaya Korona and others, as well as two kvass brands Lvovsky and Drevlyansky.
MHP Agroholding, Ukraine’s largest chicken producer, managed to make $38 million in net profit in the fourth quarter of 2022, 2.4 times better than in the fourth quarter of prewar 2021.
The agriholding said in its annual report to the London Stock Exchange on Tuesday, while it ended the year as a whole with a net loss of $231 million, compared with $393 million in net income in the previous year.
According to the report, MHP’s revenues in the fourth quarter of 2022 increased by 6% to $766 million, and for the year as a whole, by 11% to $2 billion 642 million.
Including export revenue for the quarter reached 64% ($491 million) compared to 61% ($1 billion 601 million) for all of 2022 and 53% ($1 billion 265 million) for all of 2021.
“The war in Ukraine is ongoing and could escalate in the coming months. There are constant risks to the company’s operations due to repeated attacks on critical infrastructure in Ukraine. However, as of today, all of MHP’s production facilities in Ukraine continue to operate at nearly full capacity. After transforming its logistical arrangements in response to changing wartime circumstances, the company is once again exporting to more than 70 countries worldwide, supplying grain, vegetable oils and poultry around the world,” the document states.
According to it, to date, MHP facilities have suffered no physical damage as a result of the war.
At the same time, the group has incurred significant war-related expenses since the Russian invasion on Feb. 24, 2022, estimated at $69 million for the year ending Dec. 31, 2022. They include donations in support of the community, write-offs of stockpiles and biological assets, and other specific expenses related to the war. Specifically, MHP donated about 12,000 tons of poultry products to the people of Ukraine.
It is specified that the operating profit in the fourth quarter of last year decreased by 12% – to $90 million, and for the year – by 49%, to $255 million, EBITDA – respectively by 16%, to $109 million and by 41%, to $384 million.
As noted, in January-March 2023, the agricultural holding managed to almost fully maintain production capacity.
“Since the overall situation in Ukraine remains unstable, we cannot give any meaningful forecasts about the prospects of the poultry segment for the whole of 2023. In the grain segment, the spring sowing season starts this month. Since all of our land is outside of the war zones, we hope to be able to harvest the same 360,000 hectares as we did in 2022,” MHP also pointed out.
According to the report, given the current risks and uncertainties following the Russian invasion of Ukraine and the resulting need to preserve liquidity to support ongoing business operations and support the country’s population, MHP’s board has decided that dividend payments are unlikely while the war continues.
Net loss of medical and health institutions of trade unions of Ukraine, association of Ukrainian market of health-resort services PJSC “Ukrprofzdravnitsa” in 2022 decreased 1,9 times compared with 2021 and amounted to 35,5 million UAH.
As reported by the company in the information disclosure system of NKTSBFR, financial results of “Ukrprofzdravnitsa” and its subsidiaries will be approved at the general annual meeting of shareholders on April 24.
According to the report, assets of Ukrprofzdravnitsa in 2022 decreased by 4% and amounted to 928 mln hryvnia. Total accounts receivable decreased by 6.4% to UAH 120.6 mln. At the same time, current liabilities increased insignificantly up to UAH 97.3 mln, while there were no long-term liabilities at the end of the year.
The company’s uncovered loss last year increased 20% to UAH 234.7 mln.
The shareholders also intend to increase the share capital of Khmelnik Clinic (Vinnitsa oblast) by UAH 5.5 mln to UAH 19.9 mln.
It is also planned to change the name of Ukrprofzdravnitsa’s subsidiary, Clinical Sanatorium named after Gorky (Odessa region). It is also planned to change the name of a subsidiary of Ukrprofzdravnitsa – Gorky Clinical Sanatorium (Odessa) to “Clinical Sanatorium “First Recreational and Rehabilitation” and to make appropriate changes in its charter.
“Ukrprofzdravnitsa” created by the Federation of Trade Unions and the Social Insurance Fund of Ukraine on disability (FPSU and FSSU). It is the largest enterprise in the medical and health institutions of the country and in general unites 42 spa and sanatorium enterprises. According to the website of “Ukrprofzdravnitsa”, it has 61 sources of mineral water and 13 fields of therapeutic mud.
JSC Kyivmedpreparat (Kyiv) posted a net loss of UAH 213.825 million in 2022 after seeing a net income of UAH 30 million in 2021.
According to the company in the information disclosure system of the National Securities and Stock Market Commission, the shareholders will consider the results of its work at a remote meeting scheduled for April 26.
The manufacturer of antibiotics Kyivmedpreparat together with JSC Galychpharm are the main manufacturers of Arterium products (Kyiv).
The net loss of PJSC Artweineri (formerly Artemivsk Winery, Kyiv), whose main facilities are located in Bakhmut, in 2022 was UAH 77.29 million, while the company finished 2021 with a net profit of UAH 47.17 million.
According to the company’s announcement of the annual meeting of shareholders on April 24, as a result, if at the end of 2021 the undistributed profits of Artvineri was UAH 75.46 million, then in 2023 the company met with uncovered losses of UAH 1.83 million.
The PJSC plans at the meeting of shareholders to compensate for the losses incurred by the company in 2022 at the expense of retained earnings, and to cover the losses not covered by it at the expense of future years’ profits.
According to the information, Artweineri’s assets decreased by 21% last year, to UAH 705.72 mln, including fixed assets – by 12.8%, to UAH 115.14 mln.
The company managed to decrease the total accounts receivable by 2.6 times to UAH 132.8 mln and reduce the current liabilities by 20% to UAH 445.92 mln, while maintaining a small long-term debt of UAH 7.1 mln.
In addition, the company increased its reserves by 2.4% to UAH 392.49 mln and free cash by 3.4 times to UAH 50.68 mln.
“Artweineri is one of the largest East European producers of sparkling wines by traditional bottling methods. Its capacity was 25 mln bottles annually. The company’s TMs are Krym, Artemovskoye, Krimart, Charte and Soloking. The company has export experience in more than 20 countries.
“NV Business” reported last September that Artvineri’s plant and warehouses in Bakhmut were mothballed, while the company set up bottling of the five most popular varieties of Artemovskoye at the production facilities of Tairov Winery’s partners.
ArcelorMittal Kryvyi Rih PJSC (AMKR, Dnipropetrovsk Region) finished the year 2022 with a considerable net loss due to the war and the company operating at 25% of its capacity, but received a $600mn financial aid from ArcelorMittal Corporation.
According to Mauro Longobardo, the company’s general manager, during a communication with the workforce and heads of departments, an account of which was published by the corporate newspaper Metallurg, last year was difficult for the company in all respects.
“The financial situation was very difficult, we have a significant net loss, but we received a significant financial assistance from ArcelorMittal. This money was necessary to continue paying salaries to employees and keep working in spite of difficulties with raw materials procurement, its high cost and other problems,” explained the top manager.
According to him, the company experienced additional losses due to logistics.
“In this matter, we now need to be as flexible as possible. Every week we decide what kind of products we should sell to minimize costs. We hope that this year the situation will improve,” said the mill manager, expressing the hope that the losses will be reduced to zero.
Longobardo also said that the company now plans to increase production in order to achieve at least the prewar level.
On the topic of environmental protection, the general director stressed that the company has until the end of 2023 to further reduce obsolete assets.
“Ukraine is working to meet the conditions of the EU on many issues. And it is already clear that this way it will go much faster than expected. Our company is also accelerating on many fronts. After the war and reaching pre-war production capacity, the company plans to invest in the modernization of the enterprise, implement and introduce the latest production technologies,” Longobardo said.
According to him, the company has planned to allocate $130 million for capital investments for 2023. The main renovation project will be the construction of the Third Map tailings pond. Works on other equally important projects will be continued: the completion of the Fourth Card and Mirolyubovskoye tailing dumps. Special attention will be paid to the pelletizing plant construction project, work on which was suspended because of the war.
In metallurgical production, it is planned to reline Blast Furnace No. 9, and work will continue on its modernization – in fact, it will be the construction of a new tenth blast furnace. There are also plans to increase production in the converter shop, to improve the work of the continuous caster, in the coke plant, in the sintering shop No. 2, etc.
“Now we have time to prepare well for this, so that we can then work hard to increase and stabilize production and implement all capex plans using the most modern technologies,” summarized the CEO.
“ArcelorMittal Krivoy Rog is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular rebar and wire rod.
ArcelorMittal owns the largest mining and metallurgical plant “ArcelorMittal Krivoy Rog” in Ukraine and a number of small companies, in particular PJSC “ArcelorMittal Beryslav”.
