Which market leaders increased their wealth in the first year of the full-scale invasion?
The revenues of the top 10 mining companies decreased by 14% in the first year of the full-scale war, according to the Opendatabot Index. In total, the market leaders earned UAH 295.15 billion over the year. These are companies engaged in the extraction of iron ore, natural gas, and coal. Six out of ten companies are owned by Rinat Akhmetov, and the leader in the sector is the state-owned Ukrgazvydobuvannya.
The leading companies in the extractive industry earned UAH 295.15 billion. This is 14% less than in 2021, when these businesses earned UAH 343.24 billion. Almost half of the total income of the leaders is accounted for by 3 natural gas companies.
The state-owned company Ukrgazvydobuvannya was the top performer, with revenue of UAH 86.38 billion. This is 29% of the total revenue of the top 10. At the same time, the company’s earnings fell by 4% compared to 2021.
It is worth noting that 6 of the top 10 companies belong to Rinat Akhmetov’s SCM Group. These companies accounted for 54% of the total revenue of the top 10 companies – UAH 159.57 billion.
Three of Akhmetov’s companies in the ranking increased their revenues and moved up in the ranking. These are:
– DTEK Pavlohradvuhillya increased its revenues by 1.8 times, taking the second position or UAH 44.2 billion,
– Pokrovskoye Mine Administration (UAH 38.47 billion) earned 1.8 times more, moving up to the 3rd place in the ranking,
– Naftogazvydobuvannya’s revenues increased by 2.3 times to UAH 35.99 billion. This is the __ position in the ranking
On the contrary, the revenue of 3 other SCM Group companies engaged in iron ore mining has significantly decreased compared to 2021:
– by almost 4 times at Northern GOK, to UAH 13.8 billion
– by more than 3 times, to UAH 12.7 billion, at Inguletsky GOK,
– by one third – at Central GOK (UAH 14.3 billion).
Ukrnaftoburinnya, previously owned by Ihor Kolomoisky, Vitaliy Khomutynnik and Pavlo Fuks, which was transferred to the ARMA by a court decision, was included in the ranking in 2022. This is despite the fact that in 2022 it received 25% less revenue compared to 2021 – UAH 9.7 billion.
The last 2 companies in the top are engaged in the extraction of iron ore and belong to the FERREXPO group (Kostiantyn Zhevago), which reduced their revenues last year. These are Poltava Mining, whose earnings decreased by 2 times, and Yeristovo Mining, whose revenue fell by 16%. Together, these two companies earned UAH 39.48 billion.
The Opendatabot index is an analytical tool for assessing the real situation and geography of Ukrainian business based on data from state registers, Opendatabot registers, financial statements of companies, information on ties with Russia, sanctions lists and other analytical tools of Opendatabot.
https://opendatabot.ua/analytics/index-mining_industry-2023
Opendatabot Index, Pavlohradvuhillya, Pokrovskoye Mine Administration, RINAT AKHMETOV, SCM GROUP, UKRGAZVYDOBUVANNYA
