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.
Ovostar Union, one of the leading producers of eggs and egg products in Ukraine, earned $29.08 million in net profit in 9M2023, up 12.2 times year-on-year (y-o-y).
According to the group’s report on the Warsaw Stock Exchange, its revenue for the first nine months increased by 36.3% to $123.06 million, mainly due to higher prices for its products.
Gross profit for January-September this year increased by almost 2.8 times to $42.64 million, operating profit – by 8.2 times to $29.65 million.
It is noted that such an increase in profitability was also achieved by reducing the cost of sales from $66.16 million to $57.40 million due to good feed prices and the devaluation of the hryvnia.
The stability of national currencies also led to Ovostar’s total profit of $29.08 million in the first 9 months of this year, compared to a total loss of $25.16 million in the same period last year, when the hryvnia exchange rate fell.
The group also reported that its debt on bank loans since the beginning of the year has decreased from $10.93 million to $2.46 million, and is currently represented by a UAH 90 million loan from Credit Agricole Bank under the state program at a rate of 13.05% per annum with maturity at the end of March 2024, while the company has fully repaid its obligations to Ukrsibbank and OTP Bank.
Ovostar’s free cash flow jumped to $58.44 million from $12.17 million at the beginning of the year and $5.92 million a year earlier, including the equivalent of $19.77 million in hryvnia from $0.90 million, and $33.89 million in Latvia from $4.76 million.
According to the report, the share of egg sales in revenue slightly decreased to 69.0% from 69.5% in 9M2017, while the share of egg products increased from 30.5% to 31%. At the same time, the share of egg exports in total revenue increased from 34.9% to 45.5%, and the share of egg products exports increased from 56.6% to 60.3%.
As a result, Ovostar’s total export revenue for January-September this year reached 50% of total revenue, compared to 41.5% a year earlier.
The company, which had previously announced the suspension of its investment program amid the ongoing Russian military invasion of Ukraine and the overall unfavorable situation in the national economy, invested $8.88 million in 9M2017 against $5.42 million in 9M2016, with the lion’s share of all investments again in biological assets.
In mid-June 2011, the group’s holding company, Ovostar Union N.V., conducted an IPO of 25% of its shares on the WSE and raised $33.2 million. The majority stake of 67.93% is owned by Prime One Capital Limited, which is controlled by its CEO Boris Belikov and Chairman of the Board of Directors Vitaliy Veresenko.
In January-September of this year, Fairfax Financial Holdings Limited significantly increased its stake in Ovostar from 9.09% to 27.51% by withdrawing from the shareholders’ list Generali Otwarty Fundusz Emerytalny (10.93%) and AVIVA Otwarty Fundusz Emerytalny (5.02%).
As reported, Ovostar earned $6.09 million in net profit in 2022, which is 3.7 times more than in 2021. At the same time, revenue increased by 1.7% to $135.63 mln.
In the first half of 2023, the company earned $20.63 million in net profit, while the same period in 2022 ended with a net loss of $19.78 million. Its revenue for the six months increased by 56.8% to $88.69 million.
PJSC Interpipe Dnipropetrovs’k Vtormet (Dnipro), a member of Interpipe Pipe and Wheel Company (TKK), posted a consolidated net profit of UAH 43.841 million in January-September this year, compared to a consolidated net loss of UAH 58.818 million in the same period last year.
According to the company’s interim report, its net income for the period increased by 28.3% to UAH 3 billion 211.957 million.
Retained earnings as of the end of September 2023 amounted to UAH 192.715 million.
At the same time, Interpipe Dnipropetrovs’k Vtormet earned a non-consolidated net profit of UAH 44.657 million in 9M2023, while it ended the same period last year with a net loss of UAH 54.081 million. The net income for the period corresponds to the same figure in the consolidated financial statements.
As reported, Interpipe Dnipropetrovs’k Vtormet posted a consolidated net profit of UAH 25.460 million in the first half of the year, while it ended the same period last year with a consolidated net loss of UAH 38.239 million. Net income for the period increased by 38.6% to UAH 2 billion 155.760 million.
In January-June of this year, the company posted a non-consolidated net profit of UAH 25.637 million, while it ended the same period last year with a net loss of UAH 35.344 million. “In the first quarter of 2023, Interpipe Dnipropetrovs’k Vtormet earned UAH 15.480 million in profit, while it ended the same period last year with a net loss of UAH 16.57 million. Net income for the period increased by 32.5% to UAH 1 billion 111.279 million.
“Interpipe Dnipropetrovs’k Vtormet ended 2022 with a net loss of UAH 10.284 million, compared to UAH 14.234 million in net profit in 2021. At the same time, net income decreased by 51.8% to UAH 3 billion 276.74 million.
“Interpipe Dnipropetrovs’k Vtormet specializes in the procurement and processing of ferrous scrap in the Dnipro region and the subsequent sale of this product, including the preparation of metal charge for steelmaking plants.
As of the first quarter of 2023, Interpipe Limited (Cyprus) owns 98.6699% of the shares in Interpipe Dnipropetrovs’k Vtormet.
The company’s authorized capital is UAH 64.876 million.
The net profit of solvent banks in January-October 2023 reached UAH 122.7 billion, while in the same period of 2022 this figure was only UAH 10.9 billion, according to the National Bank of Ukraine (NBU).
According to the NBU, total revenues of financial institutions over 10 months increased by 27.3% compared to the same period last year, in particular, net interest income increased by 36.5% to UAH 164.24 billion, while net commission income increased by 3.8% to UAH 41.4 billion.
In the first 9 months of the year, the growth rate was higher: total income grew by 28.1%, including net interest income by 38.7%, and net fees and commissions by 5.4%, as in October this year, net interest income increased by 20.6% compared to October last year, while net fees and commissions decreased by 7.4%.
The share of interest income in the overall structure of banks continued to grow and added 0.2 pp (percentage points) in October, reaching 68.1%, while in the same period last year it was at 60.1%.
Meanwhile, the share of fees and commissions decreased to 21.7% from 23.7% in 2022, as did income from foreign exchange operations due to the stability of the hryvnia exchange rate – to 7% from 13.3%.
Another factor contributing to the profit growth was a significant reduction in provisioning by 21.8 times to UAH 4.9 billion.
According to the NBU, in October, banks’ net profit decreased to UAH 12.8 billion from UAH 14.8 billion in September, while remaining higher than in August – UAH 11.9 billion. Last October, banks ended with a profit of UAH 3.6 billion.
Dneprovagonmash, Ukraine’s largest railcar manufacturer, controlled by businessman Sergiy Tigipko’s TAS Financial and Industrial Group, ended January-September 2023 with a net profit of UAH 51.09 million, up 8.3 times compared to the same period in 2022.
According to the company’s interim financial statements published on Wednesday in the NSSMC’s information disclosure system, its net sales revenue decreased by 14.7% to UAH 724.62 million.
In January-September, the company increased its gross profit by 18.7% to UAH 96.9 million, earning UAH 53.5 million in operating profit (4.6 times more).
The report does not disclose the number of railcars produced and sold in the reporting period.
As before, the report mentions the risk of rising prices for components, materials and energy (material costs account for 80-90% of the cost of production) and lower prices for railcars as price risks for the company.
“Ongoing military operations, uncertainty of further developments, including the intensity or potential timing of the cessation of these actions, may significantly affect the economic situation in the country and, accordingly, the activities of Dneprovagonmash,” the report says.
As reported, in the first half of this year, DVM received UAH 57.85 million in net profit against almost UAH 25 million in losses for the same period last year, with net income growing by 17.2% to UAH 578 million.
Thus, in the third quarter of 2023, the company received a UAH 6.76 million loss against a UAH 31.14 million net profit in July-September 2022, with net income falling 2.4 times to UAH 146.61 million.
“Dneprovagonmash is one of Ukraine’s leading freight car design and manufacturing companies. Its annual production capacity is 9 thousand units.
As reported, an extraordinary meeting of shareholders of DVM JSC on July 25 decided to transform it into TAS Dneprovagonmash LLC.
In October of this year, in cooperation with Austrian partners, the company shipped the first lightweight modular freight cars (MultiBOX) intended for use on the EU railways as part of the TransANT innovation project.
In 2022, DVM’s net income increased by 77.3% to UAH 1 billion 108.7 million, with net profit of UAH 48.64 million compared to a loss of UAH 111.3 million a year earlier. At the same time, sales of railcars increased by 35% to 623 units, and production by 21% to 577 units.
TAS Group was founded in 1998 by businessman Tigipko. Its business interests include the financial sector (banking and insurance) and pharmacy, as well as industry, real estate, and venture capital projects.
