As part of a partnership project with OKKO Group, Agrotrade Agricultural Holding shipped 24.4 thousand tons of rapeseed by sea from Odesa to Ghent (Belgium), the press service of the agricultural holding reported on Facebook.
According to the report, half of this cargo – about 12 thousand tons – is grain grown on the fields of the agricultural holding in 2024. The rest of the cargo belongs to OKKO Group.
“This shipment is a big step forward for us, as we used to export small batches of rapeseed by sea – 3-5 thousand tons each. This year, we agreed with OKKO that we would make a partnership project, share the risks and ship the vessel together. This has many advantages, in particular, in terms of saving on ship freight. There were many difficult moments during the shipment, but we successfully dealt with them. In addition, the economy was one of the best this year compared to other sales,” said Andrii But, Director of the Foreign Trade Department of Agrotrade.
At the same time, he noted the high quality of rapeseed grown and sold by the agricultural holding. In particular, the oil content in the grain is 45%, while the basic indicators are usually 40-42%.
Agrotrade Group is a vertically integrated holding company with a full agro-industrial cycle (production, processing, storage and trade of agricultural products). It cultivates over 70 thousand hectares of land in Chernihiv, Sumy, Poltava and Kharkiv regions. Its main crops are sunflower, corn, winter wheat, soybeans and rapeseed. It has its own network of elevators with a simultaneous storage capacity of 570 thousand tons.
The group also produces hybrid seeds of corn and sunflower, barley, and winter wheat. In 2014, a seed plant with a capacity of 20 thousand tons of seeds per year was built on the basis of Kolos seed farm (Kharkiv region). In 2018, Agrotrade launched its own brand Agroseeds on the market.
Vsevolod Kozhemiako is the founder and CEO of Agrotrade.
OKKO Group unites more than 10 diversified businesses in production, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand, with about 400 filling stations.
The group’s founder and ultimate beneficiary is Vitaliy Antonov.
OKKO Group has renovated 91 filling stations in 2022-2024, said Nazar Kupibida, CFO of the group, during the XXII Ukrainian CFO Forum in Kyiv on Thursday.
In addition, since the beginning of the full-scale war, 37 damaged OKKO filling stations have been reopened, while another 19 stations were lost and closed.
Kupibida said that the group lost 18.5 thousand tons of fuel worth $21.3 million as a result of the shelling of its tank farms, and the total losses are estimated at $70 million. The shelling forced the group to work from the wheels, and the fleet of fuel trucks was doubled.
In the structure of OKKO’s sales ($2.303 billion) last year, 72% were fuel retail, 14% were fuel wholesale, 9% were non-fuel sales, and 5% were other.
In the structure of EBITDA ($231 million), 70% was fuel retail, 22% was non-fuel sales, 3% was fuel wholesale, and 5% was other.
In 2022-2024, the group raised $194.4 million in working capital financing, including UAH 3.7 billion (equivalent to $88.4 million) from state-owned banks, $47.1 million equivalent from international financial institutions (IFIs), and $58.9 million equivalent from private Ukrainian banks.
Financing of investments since the beginning of the full-scale war: bioethanol project – EUR 75 million, wind farm – EUR 160 million, core business – UAH 1.1 billion.
According to the group, in 2023, the retail market of petroleum products in Ukraine fell by 14.6% compared to 2021.
Last year, six companies accounted for 55% of the retail market coverage. The share of OKKO (405 filling stations) was 19.4%, WOG (368 filling stations) – 14.4%, BRSM (214 filling stations) – 6.7%, Avias (822 filling stations) – 5.7%, UKRNAFTA (459 filling stations) – 4.4%, UPG (81 filling stations) – 4.3%.
OKKO Group unites more than 10 diversified businesses in production, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand, with about 400 filling stations.
The group’s founder and ultimate beneficiary is Vitaliy Antonov.
OKKO Group has begun construction of the all-season mountain resort GORO Mountain Resort at the foot of the Vysokyi Verkh mountain range at an altitude of 650 m above sea level in Lviv region, the group’s website reported on Wednesday.
The total investment in the recreation project is estimated at $1.5 billion. OKKO Group plans to invest $500 million using its own and credit funds, and another $1 billion is planned to be raised from other investors.
The total area of GORO Mountain Resort will be almost 1200 hectares, of which 360 hectares are planned for mountain and ski infrastructure, and more than 800 hectares for the development of hotel, commercial and recreational facilities.
Over the next 15 years, it is planned to build 41 75 km long ski runs with 342 hectares of snow cover, 17.5 km of ski lifts, including two modern gondola lifts and 11 chair lifts, as well as Welcome and Mountain centers.
The construction of the first stage of GORO with a total area of 127 hectares has already begun 5 km from Slavske village and is expected to be completed in 2028-2029. It will include 10 ski slopes with a length of 13 km, five hotel complexes with 1100+ rooms, along with recreational infrastructure with spa areas, swimming pools, restaurants, children’s and business areas.
“We see the future, even despite the challenges of war, and understand the importance of such ambitious projects for the socio-economic development of the Lviv region. The new mountain recreational project should become a magnet for Ukrainian and foreign tourists and potential investors, putting a modern mountain location on the tourist map of Europe,” said Vasyl Danyliak, CEO of OKKO.
OKKO Group in GORO Mountain Resort acts as the sole owner, major investor, master developer, developer and operator to ensure the harmonious development and holistic concept of the all-season recreational project.
OKKO Group has engaged world-class Austrian experts to create an international format: PKF Hospitality (investment analysis and concept), ILF Group (master plan and ski infrastructure) and Doppelmayr/Garaventa Group (design of lifts and cable cars). GORO Development, an investment and development company, is engaged in the development and construction of real estate on the territory of GORO Mountain Resort, and a single operator will manage the complex.
OKKO Group unites more than 10 diversified businesses in the fields of production, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand, with about 400 filling stations.
The group’s founder and ultimate beneficiary is Vitaliy Antonov.
The OKKO filling station network currently occupies about 19% of the Ukrainian retail fuel market, said Vasyl Danylyak, CEO of the company.
“This is when we count the entire market, both black and gray, when everything is together, we operate with such figures,” he said in an interview with the Careerist YouTube channel.
According to Danyliak, OKKO currently ranks first in terms of market share in Ukraine, its gap with the second place, represented by WOG, is about 5 percentage points.
The CEO of OKKO also said that the group’s turnover in 2023 amounted to $2.4 billion, and EBITDA – $240 million.
“These are petroleum product retail, non-fuel business, wholesale, agro-trading, agro-financing, trade in mineral fertilizers, natural gas and electricity,” he said.
As reported, by the end of 2022, Danyliak estimated OKKO’s fuel sales market share at 25%, up 7 percentage points from 2021,
OKKO filling stations network is a part of OKKO Group. It is one of the largest filling station chains in Ukraine, with about 400 filling stations.
OKKO Group unites more than 10 diversified businesses in production, trade, construction, insurance, maintenance and other services. OKKO-Agrotrade division and Khlibprom concern operate in agriculture. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand.
The company’s majority shareholder is Vitaly Antonov. Minority shareholders include the European Bank for Reconstruction and Development (EBRD).
In January-June 2024, the OKKO filling stations network transferred UAH 9.741 billion to budgets and social funds, which is 57% or UAH 3.5 billion more than in the same period of 2023.
“We paid UAH 2.240 billion in taxes and fees directly from operating activities in the first 6 months of 2024. This amount includes VAT (except for import customs duties), retail excise, personal income tax, military duty, land fees, and the mandatory state pension insurance fee,” the company’s website reports.
In addition, another UAH 7.501 billion was paid when importing goods. As the company explained, the amount of taxes paid in this category depends on whether the group’s companies import fuel directly or buy already cleared products from foreign plants on the domestic market.
“In June 2024, the enemy destroyed two of our oil depots. In total, since the beginning of the full-scale invasion, OKKO’s losses as a result of hostilities amounted to $70 million. But we continue to work – we restore filling stations, invest, pay taxes in good faith, and help the Armed Forces,” said Nazar Kupybida, OKKO Vice President for Finance.
According to him, over the past two and a half years, OKKO Group has already paid UAH 33 billion in taxes and donated more than UAH 1.8 billion as charity to support the army and restore the country.
In the first half of 2024, each OKKO filling station paid UAH 5.629 million in taxes and fees per filling station, or UAH 0.938 million per month. This figure is 23% higher than in the first half of 2023. The payment of taxes on operating activities per 1 liter of fuel sold at OKKO filling stations amounted to UAH 3.40/l in the reporting period, which is almost UAH 1 higher than in the first half of 2023 – UAH 2.43/l.
OKKO Group unites more than 10 diversified businesses in production, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand, with about 400 filling stations.
The group’s founder and ultimate beneficiary is Vitaliy Antonov.
The OKKO filling station chain has ordered 100 new tank cars from TAS Poltavagon, and received the first 20 units in July, the company’s press service reports.
According to it, the group will receive the entire batch in early 2025.
The new rolling stock will significantly increase OKKO’s logistics maneuverability, allowing it to import petroleum products to Ukraine faster and more profitably, as well as provide transportation services to other market participants.
“Until now, we have had 45 of our own tanks in operation. Some of them are in use, some were intended for bitumen transportation, but are now being repurposed for diesel fuel. In addition, the company leases more than 400 tank cars. By adding another 100 new units, the company will become a powerful private operator of tank cars for the transportation of petroleum products in Ukraine. “Only Ukrzaliznytsia has a larger fleet,” said Denis Gromov, Director of Logistics at OKKO.
The company clarified that the tank car manufacturer was selected at a tender among three Ukrainian companies. They considered engaging foreign companies, but their products would require additional certification in Ukraine, which could take longer.
It took six months from the moment we signed the contract with TAS Poltavagon to the production of the first batch. These are tank cars for oil products of the 15-1755 model with a carrying capacity of 68 tons and a service life of 32 years.
“This is not the first experience of cooperation with OKKO for TAS Poltavagon. Previously, our company has already supplied fuel storage tanks to the group’s filling stations. The current contract gives us the opportunity to join our partner in strengthening Ukraine’s fuel security, restore the status of a tank farm and prove our leadership in this market,” said Yuriy Pysarevsky, CEO of the plant.
OKKO also reminded that in 2022-23 the group significantly updated its own fleet of vehicles for fuel transportation. “The company continues to develop the transportation and logistics business further – investments in rail tank cars will be several times larger. The advance payment under the current contract alone amounted to UAH 100 million,” the press release said.
Earlier, in June 2024, OKKO Vice President Yuriy Kuchabsky noted that after the latest hostile attacks on the group’s tank farms, “it was decided to switch to working ‘on wheels’, that is, without accumulating fuel at the tank farms.” The group is also considering leasing terminals in Ukraine’s neighboring countries.
OKKO Group unites more than 10 diversified businesses in manufacturing, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand, with about 400 filling stations.
The group’s founder and ultimate beneficiary is Vitaliy Antonov.
