Business news from Ukraine

Business news from Ukraine

JYSK plans to open two stores in Odesa

The international chain JYSK plans to open two new stores in Odesa this year, according to JYSK Country Director in Ukraine Yevhen Ivanitsa.

“Odesa, Arcadia, Rodos shopping center. This is where the seventh JYSK store in the southern capital of Ukraine will open in the fall. Currently, there are five JYSK stores in Odesa. The sixth JYSK will open in the summer in the Mercury shopping center,” he said on Linkedin.

Currently, there are 95 stores and the online store jysk.ua in Ukraine. The plan is to reach 100 stores by the end of 2024.

JYSK has more than 800 employees in the country.

JYSK is part of the family-owned Lars Larsen Group with more than 3.4 thousand stores in 48 countries.

JYSK’s revenue in the financial year 2022/23 amounted to EUR 5.2 billion.

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Odesa-based Bloomi has increased production by almost 40%

Blumi LLC (Odesa), a manufacturer of sanitary and hygienic paper products under the Snow Panda brand, produced products worth UAH 149.6 million in January-April, up 38.5% compared to the same period in 2023. According to statistics provided by Ukrpapir Association to Interfax-Ukraine, in physical terms, in particular, the production of toilet paper increased by 31.5% to 18.3 million rolls.

As reported, in just four months, the major manufacturers of sanitary paper products produced 210.6 million rolls of paper, up 10% year-on-year.

Bloomi, which was registered in 2014, produces pulp-based sanitary products (toilet paper, napkins, towels) from imported raw paper. The products are manufactured at the facilities of Omega Brokers PE, one of the leading Ukrainian manufacturers of detergents, disinfectants and sanitary products.

In 2023, the company almost doubled its production volume by 2022 to UAH 367.3 million.

The company is co-owned equally (25% each) by four Odesa-based entrepreneurs.

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Major grain trader Qortia AG resumes grain exports from Odesa

International grain trader Qortia AG (Switzerland) has resumed grain shipments from Ukraine’s deepwater ports, the company reported on Linkedin.

According to the report, the company sent the vessel Bereket M (Panama flag) with a cargo of 21.5 thousand tons of Ukrainian corn from Pivdennyi port to Turkey.

“Bereket M became the first vessel this year that Qortia AG loaded exclusively by its own resources in a deep-water Ukrainian port. Since the company’s establishment, we have been actively shipping to Ukraine from deep water for six years. However, after the Russian invasion, we focused mainly on the development of river transportation and transshipment in the ports of the Danube cluster, where the company’s share reached 15%,” the statement said.

Qortia AG is a Swiss agri-trading and logistics company headquartered in Switzerland. It specializes in the purchase and export of grains (wheat, corn, soybeans, barley, etc.), oilseeds, and processed products. The Ukrainian representative office is located in Odesa. Its owners are Konstantin Kuflyk, Dmitry Yandovsky, and Andrey Vitryak.

Bereket M is a bulk carrier flying the flag of Panama. Its length (LOA) is 154.38 meters and its beam is 26 meters.

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Odesa Filatov Institute develops use of AI for diagnosing eye diseases

The Filatov Institute of Eye Diseases and Tissue Therapy of the National Academy of Medical Sciences of Ukraine will continue to develop technologies for using artificial intelligence (AI) to diagnose eye diseases, said Andriy Korol, head of the department for studying the biological action and application of lasers in ophthalmology at the clinic.

“We have now worked out diabetic retinopathy, and at the next stage we will develop in several directions. These may include specific eye diseases, retinal diseases, glaucoma, age-related degeneration, and other diseases that are manifestations of diabetes,” he said in an interview with Interfax-Ukraine.

Korol noted that another area of AI technology development that the institute plans to implement will be a system that will allow “to see the symptoms and signs of various diseases, such as hypertension, vascular changes, hereditary diseases, and a number of rare diseases.”

Korol specified that the institute will be able to “launch research on new nosologies every year and a half.”

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Odesa Cognac Factory ended 2023 with loss

PrJSC Odesa Cognac Factory, one of the largest cognac producers in Ukraine, reduced its loss to UAH 6.658 million in 2023 compared to a net loss of UAH 44.434 million in 2022.

According to the company’s report in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its assets decreased by 2.7% to UAH 989.587 million over the year, while total receivables decreased by 7.9% to UAH 575.267 million.

At the same time, the company increased its revenue by 22.8% year-on-year to UAH 1.166 billion. At the same time, the staff of Odesa Cognac Factory PJSC decreased by 45 people over the year to 300 employees.

According to the report, at the annual shareholders’ meeting on April 29, it is planned to terminate the powers of the supervisory board and make a number of changes to the company’s charter, and then delegate the powers of the current chairman of the supervisory board to sign contractual relations with the newly elected members of the board.

According to the Unified State Register of Legal Entities and Individual Entrepreneurs, Odesa Cognac Factory PrJSC is owned by Ukrainian businessman and owner of the Global Spirits alcohol holding Yevhen Cherniak.

Global Spirits is a large international alcohol holding company that unites Khortytsia Distillery (Zaporizhzhia), Odesa Cognac Factory (Odesa) and Ukrainian Distribution Company. The central office is located in New York (USA).

The holding owns more than 15 local, regional and international brands: “Khortytsia, Pervak, Shustov, Morosha, Oreanda, San Marino, Mikado, Medovukha, etc.

Global Spirits products are exported to more than 87 countries.

On February 24, 2022, Global Spirits revoked its license to manufacture and distribute its products in the Russian market due to Russia’s military invasion of Ukraine.

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Odesa prepares for launch of Odesa-Chisinau air transfer in cooperation with EUBAM mission

The Odesa Regional Military Administration, together with Ukrainian and Moldovan border guards, customs officers and representatives of the EUBAM mission, continues preparations for the launch of the first Odesa-Chisinau air shuttle, said Oleh Kiper, head of the Odesa Regional Military Administration.

“This should speed up the passage of Ukrainians traveling to Chisinau International Airport and relieve the border crossing points (primarily in the area of the Mayaky-Palanka-Udobne checkpoint). Organized transportation of passengers will also reduce the load on the region’s roads by cars and improve the level of service for the population in the field of international transportation,” Kiper wrote in his telegram channel.

He noted that the transfer will be carried out in several stages: passenger registration in the electronic system with a copy of the plane ticket departing from Chisinau, the formation of passenger groups 2-3 days before the departure of flights, after which buses with pre-registered passengers will depart from Odesa. Passengers of the air transfer will undergo customs and border procedures in an expedited mode.

The total planned travel time is 4 hours.

“We will do everything to launch the first buses in the near future,” added Kiper.

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