“Ukrtelecom, Ukraine’s largest fixed-line operator, posted a net profit of UAH 242.39 million in January-September 2023, compared to a net loss of UAH 755.18 million in the same period last year, the company said in a report on its website on Monday.
Ukrtelecom’s revenue decreased by 6.1% to UAH 3.14 billion in the first nine months of the year.
Gross profit increased by 26.4% to UAH 791.6 million, and EBITDA amounted to over UAH 1 billion compared to UAH 975 billion in January-September 2022, resulting in an EBITDA margin of 28%.
The company notes that amid the war, Ukrtelecom continues to develop its optical infrastructure, providing Internet access at almost 90% of the number of settlements covered by the operator’s network before the full-scale Russian invasion.
According to a release on Monday, since the beginning of the year, the company has already laid almost 4 thousand kilometers of fiber optic lines, compared to about 5 thousand kilometers in the first nine months of last year. Both new users – business representatives and individuals – are connected to the high-speed optical Internet. It is noted that in the first nine months of this year, 120 medical and 140 educational institutions were also connected to optics.
According to the report, Ukrtelecom paid UAH 1 billion in taxes and duties to the budgets of all levels in January-September 2023 compared to UAH 1.12 billion in January-September 2022, and more than UAH 70 million has already been allocated for the needs of the Ukrainian defenders (UAH 50 million in January-September 2022). Almost 400 Ukrtelecom employees are defending Ukraine in the Armed Forces of Ukraine, compared to about 350 a year ago.
Kharkiv-based aircraft manufacturer FED JSC completed January-September 2023 with net income of UAH 907 million, up 87.1% compared to the same period in 2022.
According to the company’s interim financial statements published in the NSSMC’s information disclosure system, its net profit for the period increased 2.8 times to UAH 272.5 million.
From operating activities, FED JSC received UAH 334.6 million in profit, which is 2.8 times more, and gross profit increased almost 2.3 times to UAH 432.3 million.
As reported, in January-June 2023, the company increased its net profit by 12.6 times compared to the first half of 2022, to UAH 249.43 million, while net income almost tripled to UAH 674.89 million.
Thus, in the third quarter of this year, the net profit of FED JSC amounted to UAH 23 million, which is 70.3% less than in July-September 2022, with a 9.1% drop in net income to UAH 232.1 million.
FED JSC is one of the leading enterprises in Ukraine, specializing in the development, production, maintenance and repair of aviation, space and general engineering units.
In 2022, the company reported a 2.7-fold decrease in net profit compared to 2021, down to UAH 146.77 million. Net income decreased by 2.3 times to UAH 570.9 million.
At the beginning of 2022, the company employed more than 1 thousand people.
According to the National Securities and Stock Market Commission, more than 98.2% of FED shares are owned by the company’s CEO Viktor Popov.
The net profit of state-owned Sens Bank in January-September increased by UAH 188 million to UAH 5.626 billion, the press service of the state-owned bank reported on Monday.
“About UAH 11 billion. This is the amount for which Sens Bank’s clients opened term deposits 100 days after the bank’s transfer to state ownership, which is more than 100 thousand deposits. In addition, 80% of retail customers have re-placed their savings on the bank’s deposit accounts during this time, which is one of the best indicators during the martial law period,” the bank noted.
According to the data provided, the core capital adequacy ratio (N3) of the financial institution amounted to 16.77%, and the regulatory capital adequacy ratio (N2) – 16.82%, while in August they amounted to 17.62% and 17.66%, respectively.
In addition, as the state bank emphasized, the level of corporate clients’ confidence in Sens Bank has increased significantly after the change of ownership. This is evidenced by the increase in balances on the accounts of legal entities, in particular, since the nationalization, the state-owned bank has increased its liabilities to UAH 36.4 billion from UAH 18.8 billion.
“Thus, the growth of SME liabilities amounted to 29%, and the corporate business portfolio increased by 95%. In addition, the participation of public sector enterprises in the structure of the bank’s liabilities is about 23%,” the bank said.
The press service emphasized that Sens Bank has returned to the active mode of lending to enterprises and has resumed its participation in the state program to support micro and small businesses in Ukraine “Affordable Loans 5-7-9”.
“Currently, the corporate unit is considering more than 160 loan applications from existing and potential customers totaling more than UAH 18 billion,” the release says.
According to the press service of the financial institution, Sense Bank continues to create a long-term strategy for the development of the digital bank Sense SuperApp. A key element of the bank’s digital strategy is the absolute security of customer data and money in times of war. In particular, during the 100 days of state ownership, Sense SuperApp has been updated six times, improving familiar products and offering new ones.
“Some of the functions unique to Ukraine have already been developed and tested: their announcement is expected in the near future,” the state bank emphasized.
According to the National Bank of Ukraine, as of September 1, 2023, Sens Bank ranked 11th among 64 operating banks in terms of total assets (UAH 63.02 billion). The financial institution is one of the systemically important banks in the country and has a network of about 130 branches throughout Ukraine, employing about 4 thousand employees. Sens Bank serves about 3 million individuals and 58 thousand legal entities, as well as 86 thousand individual entrepreneurs.
In January-September 2023, the state-owned company for the import and export of military and special services Ukrspetsexport earned a net profit of UAH 88.28 million, almost three times more than in the same period in 2022 (UAH 22.21 million).
According to the interim financial report of the state-owned company in the NSSMC disclosure system, net income increased by 91.9% to UAH 22 billion 028 million.
The company earned UAH 196.08 million in profit from operating activities, up 2.3 times, and gross profit doubled to UAH 1 billion 113 million.
At the same time, according to the company’s report to the NSSMC, in the first half of this year, Ukrspetsexport increased its net profit by 3.5 times compared to January-June 2022, to UAH 66.75 million, with net income growing by 2.8 times, to UAH 15 billion 159 million.
Thus, according to the results of the third quarter, the net profit of the state-owned company increased 7.3 times by July-September 2022 to UAH 21.53 million, while net income increased by 14.8% to UAH 6 billion 869.5 million.
As reported, in March 2022, Ukrspetsexport and its two subsidiaries, the specialized foreign trade company Progress and the foreign trade enterprise Spetstechnoexport, were temporarily excluded from the state concern Ukroboronprom and transferred to the Ministry of Defense by a government decision.
According to the National Securities and Stock Market Commission, in 2022, the state-owned company reduced its net profit by almost 2.5 times compared to 2021, to UAH 49.87 million, and its net income increased 12 times, to UAH 24 billion 174 million.
At the beginning of this year, the company employed 366 people (427 a year earlier).
The State Enterprise “Forests of Ukraine” has increased its profit to UAH 2.6 billion in the first nine months of operation, according to the company’s CEO Yuriy Bolokhovets.
“This is ten times more than the industry earned before the reform, in the days of state forestry. We direct the lion’s share of our profits to the state budget. These are funds for new weapons, ammunition, and military salaries,” he said.
According to the company’s press service, over the past nine months, Fores of Ukraine transferred UAH 4.7 billion to the state budget, which is UAH 1.1 billion more than last year. The company invested hundreds of millions of hryvnias in new equipment for the Armed Forces.
“Record profits were achieved in a declining market. The situation on the timber market has not improved. Compared to last year, the average selling price of an impersonal cube of unprocessed wood fell from UAH 1.8 thousand to UAH 1.7 thousand. We have also abandoned our own processing – sales of sawn timber by the SOE’s branches decreased from UAH 2.8 billion to UAH 2.1 billion,” explained Bolokhovets.
According to the company’s CEO, the SOE’s profits have increased due to de-shadowing and increased efficiency of the state-owned enterprise. Most of the procurement was transferred to Prozorro, which made it possible to eliminate the loopholes in timber sales related to direct contracts – products are sold at prices set by competitive markets.
The company emphasizes that its customers are offered additional services, including loading and customs clearance of products. The fulfillment rate of exchange contracts has increased to almost 90%. Contractors’ services for procurement and other work have been standardized, and ceiling prices have been introduced.
In addition, the electronic accounting system has been improved, making it more difficult for illegal timber to enter the market, which has increased demand for legal products. Also, all untargeted expenses of the branches, such as “laying pavement”, were reduced.
SE “Forests of Ukraine” has standardized the staff of its branches and reduced unnecessary administrative apparatus, resulting in the replacement of almost half of the branch managers.
The company has also decided to sell subsidized facilities through the State Property Fund.
“We are really counteracting fictitious works and services that were common in the days of forestry. We have abandoned the use of expensive and inefficient financial instruments that used to often lead to the leakage of funds from state forestry enterprises, such as renting equipment at unreasonable rates,” Bolokhovets summarized.
As reported, the state specialized economic enterprise “Forests of Ukraine” is one of the largest forest users in Europe and the largest in Ukraine. It is managed by the State Agency of Forest Resources of Ukraine. The company manages 6.6 million hectares of state forest land.
The profit of the state-owned Ukrgasbank in January-September 2023 amounted to UAH 2.92 billion, while the bank ended the same period in 2022 with a net loss of UAH 3.36 billion, according to the financial institution’s website.
“The target was exceeded by more than UAH 1.05 billion,” Ukrgasbank commented on the financial result.
The operating profit before taxation and deductions to reserves for January-September of this year amounted to UAH 3.25 billion, in particular, in September the bank received UAH 530 million of operating profit, and net operating profit amounted to UAH 299.6 million.
The press service noted that Ukrgasbank is among the five banks with the largest increase in customer accounts: the growth of the hryvnia portfolio of individuals and legal entities in January-September amounted to UAH 2.8 billion and UAH 18.4 billion, respectively.
According to the National Bank of Ukraine, as of September 1, 2023, Ukrgasbank ranked 4th in terms of total assets (UAH 168.6 billion) among 64 banks operating in the country, its net profit for the first half of the year amounted to UAH 2.6 billion.
In the third quarter, the state-owned bank’s network decreased by one branch and now includes 218 structural units across the country.
