In January-September 2023, Kryvyi Rih Iron Ore Plant (KZHRK) cut its net profit by 45.7% compared to the same period in 2022 to UAH 699.465 million.
According to the interim report of the company, available to Interfax-Ukraine, net income for the period decreased by 18% to UAH 4 billion 430.021 million.
Retained earnings as of the end of September 2023 amounted to UAH 6 billion 210.007 million.
In 2022, KZHRK reduced its net profit by 72.2% to UAH 1 billion 117.502 million and net income by 43.6% to UAH 6 billion 290.171 million. Production in 2022 amounted to 2.888 million tons, while sales volume was 2.383 million tons. The total volume of products exported in 2022 amounted to 84.7% of total sales.
Proven (balance sheet as of January 1, 2023) reserves of rich ores amount to 262.4 million tons with an average iron content of 58.66%.
As reported earlier, in 2021, KZHRK increased its net profit by 2.37 times compared to 2020 to UAH 4 billion 23.95 million, while net income increased by 68.9% to UAH 11 billion 158.331 million.
KZHRK specializes in underground iron ore mining. The company has four mines: “Pokrovska (formerly Zhovtneva), Kryvorizka (Batkivshchyna), Kozatska (formerly Gvardiyska) and Ternivska (formerly Ordzhonikidze and then Lenin).
According to the third quarter of 2023, the main shareholder of KZHRK is Starmill Limited (Cyprus), which owns 99.8812% of its shares.
Earlier it was reported that SCM Group owns a certain share in KZHRK, while Metinvest Group has no relation to KZHRK. At the same time, SCM Group is only an investor, while Privat Group exercises operational control over the plant.
The authorized capital of the company is UAH 1 billion 991.233 million.
Ilta, the official dealer of Peugeot, Citroёn, DS and Jeep in Kyiv and Kyiv region, earned UAH 34.84 million in net profit in January-September this year, compared to a loss of UAH 36.67 million in the same period in 2022.
According to the company’s interim financial statements published in the NSSMC disclosure system, its net income increased by 83% to UAH 471.55 million.
The company’s profit from operating activities increased 3.8 times to UAH 56.52 million, and gross profit by 66% to UAH 86.35 million.
Ilta has been operating in Ukraine since 1991. It is the official dealer in Kyiv and Kyiv region of Stellantis car brands – Peugeot, Citroёn, DS, and since 2023 – Jeep.
The company provides a full range of operational leasing services for cars and commercial vehicles, customer car administration services, sales of new and used cars, maintenance, and also rents office space in its own business center.
According to the company’s annual report, in 2022, it suffered a loss of almost UAH 34 million, up 60.6% year-on-year, with net income more than halving to UAH 339 million.
The profit of the state-owned Ukrgasbank (Kyiv) in January-November 2023 amounted to UAH 4.08 billion, while the state-owned bank ended the same period last year with a net loss of UAH 3.75 billion, the financial institution reported on Tuesday.
It was specified that the bank’s operating profit for January-November this year before deductions to reserves and taxation amounted to UAH 4.3 billion.
According to the release, Ukrgasbank’s assets have increased by UAH 35 billion since the beginning of the year and reached UAH 166.7 billion as of November 2023, while the portfolio of attracted customer funds has increased by UAH 29.9 billion since January and amounted to UAH 142.7 billion.
It was specified that the portfolio of corporate business funds increased the most significantly – by UAH 26.2 billion to UAH 85.5 billion, in particular, from small and medium-sized businesses (SMEs) – by UAH 4 billion to UAH 25.4 billion.
The bank added that the portfolio of term deposits of retail business clients in hryvnia amounted to UAH 9.8 billion at the end of November, having increased by UAH 3.5 billion since the beginning of the year.
According to the National Bank of Ukraine, as of October 1, 2023, Ukrgasbank ranked 5th in terms of total assets (UAH 166.44 billion) among 63 banks in the country.
The net profit of solvent banks in January-November 2023 reached UAH 130.55 billion, while in the same period of 2022 this figure was 6.7 times lower and amounted to only UAH 19.43 billion, according to the National Bank of Ukraine (NBU).
According to the data, in November, net profit decreased to UAH 7.85 billion from UAH 12.85 billion in October, and was lower this year only in January, while banks also finished November last year with the best result of UAH 8.45 billion.
The decline in profits compared to previous months is explained, in particular, by an increase in provisioning last month to UAH 3.75 billion, which is a record high for this year, while in the previous two months, provisions were even dissolved in the amount of up to UAH 1 billion.
According to the NBU, total revenues of financial institutions over 11 months increased by 25.7% year-on-year, with net interest income increasing by 34.5% to UAH 182.22 billion, while net fee and commission income increased by 2.5% to UAH 45.6 billion.
In the first 10 months of the year, the growth rate was higher: total income increased by 27.3%, net interest income increased by 36.5% to UAH 164.24 billion, and net fee and commission income increased by 3.8% to UAH 41.4 billion.
This is due to the fact that in November of this year, compared to November last year, the growth of total bank revenues slowed to 12.3%, or UAH 39.47 billion, including net interest income, which increased by 18.3% to UAH 17.98 billion, while net fee and commission income even decreased by 8.6% to UAH 4.23 billion.
The share of interest income in the total structure of banks in November remained at the level of October – 68.1%, while in November last year it was at the level of 60.2%.
The share of fees and commissions remained unchanged at 21.7% last month, while a year ago it was higher at 23.7%.
The share of proceeds from foreign exchange transactions increased by 0.1 percentage points in November to 7.1%, while in the same period last year it reached 13.1%.
It is noted that banks paid UAH 26.17 billion in income tax for 11 months of this year, including UAH 4.13 billion in November.
As reported, the Rada has increased the corporate income tax on banks from 18% to 50% in 2023 and to 25% in subsequent years.
JSC Slovianski Shpalery-KFTB (formerly the Koriukiv technical paper factory, Chernihiv region), a leading Ukrainian wallpaper manufacturer, completed January-September 2023 with a net profit of UAH 37.44 million, which is 4.3 times more than for the same period in 2022. According to the company’s financial statements released on Friday in the information disclosure system of the National Commission for Securities and Stock Market, net income increased by 55.3%m to UAH 1 billion.
The company received UAH 49.48 million in profit from operating activities (4 times more), gross profit increased by 61.5%, to UAH 201.66 million.
According to the plant’s report for the first half of 2023 published on Friday, a net profit amounted to UAH 19.18 million versus a loss of UAH 3.61 million for the same period in 2022, with net income growing by 69.3% to UAH 616 million.
Thus, in the third quarter the company increased net profit by 51.3%, to UAH 18.26 million, net income by 37.7%, to UAH 398.41 million.
As reported with reference to data from the Ukrpapir association, in January-September of this year the factory increased wallpaper production by 23%, to 12.387 million conventional pieces.
“Ukrzaliznytsia (UZ) plans to make a net profit of UAH 7 billion in 2023 after a net loss of UAH 9.6 billion in 2022, acting CEO Yevhen Lyashchenko said at the final meeting of the Ministry of Community Development, Territories and Infrastructure’s team with diplomatic missions and the public in Kyiv on Tuesday.
According to him, in 2023, UZ will receive a record revenue of UAH 99.6 billion over the past five years, UAH 82.1 billion of which will be accounted for by freight transportation, UAH 8.4 billion by passenger transportation, and UAH 9.1 billion by other revenues.
According to the data provided by him, in 2022, UZ’s revenues fell to UAH 75.7 billion from UAH 86 billion in 2021 and UAH 90.4 billion in 2019.
In particular, revenues from freight transportation last year decreased to UAH 63 billion from UAH 72.3 billion a year earlier, passenger transportation – to UAH 5.9 billion from UAH 6.2 billion, and other revenues – to UAH 6.8 billion from UAH 7.5 billion.
Lyashchenko noted that the implementation of measures to optimize operations helped UZ to reach profit in 2023, and 70% of operational purchases by value are already made under direct contracts with manufacturers.
According to the CEO, in particular, since March 2023, UZ has saved more than UAH 1 billion on diesel fuel purchases by adjusting fuel standards and procurement practices.
