Cherkasy Bus JSC, according to preliminary data, ended 2024 with a net profit of UAH 122.08 million, which is 33% less than in 2023, according to the information on the agenda of the company’s general meeting of shareholders for the previous year.
According to the draft decision of the meeting scheduled for April 11, the shareholders intend to leave 95%, or UAH 115.98 million, of the profit at the disposal of the company, and 5% (UAH 6.1 million) to be allocated to the reserve fund.
As reported, based on the results of 2023, the shareholders of Cherkasy Bus also allocated net profit for development.
The meeting will, in particular, approve the planned profit target for 2025 in the amount of UAH 102.84 million.
According to Cherkasy Bus, as of the beginning of 2025, its retained earnings amounted to UAH 267.28 million (UAH 151.3 million a year earlier).
In 2024, the company’s assets increased by 40.6% compared to 2023 to UAH 1 billion 132 million, including total receivables, which decreased by 7.7% to UAH 315.7 million, while inventories increased by 74.5% to UAH 658.1 million.
The company increased its current liabilities by 51.4% to UAH 543 million and long-term liabilities by 17.3% to UAH 137.1 million.
Net profit per share of UAH 2 amounted to UAH 1.5, compared to UAH 2.24 a year earlier.
Founded in 1994, Cherkasy Bus produces small class Ataman buses (including school buses) and other wheeled vehicles based on Japanese Isuzu units.
According to Clarity-project, in 2024, the company increased its net income by 2.6% compared to 2023, to UAH 1 billion 771 million.
According to the NSSMC, as of the third quarter of 2024, Oleksandr Dorosh, head of the Isuzu-Ataman Ukraine business, owns almost 42.29% of the shares of Cherkasy Bus, three individuals, including longtime Chairman of the Board Vitaliy Raabe, own 7.9275% each, and two more – almost 5.4% and 8.25%.
The authorized capital of the company is UAH 162.97 million.
“Kernel, one of Ukraine’s largest agricultural holdings, posted a net profit of $56 million in the second quarter of fiscal year (FY) 2025 (July-September 2024), compared to $133 million in the same period of FY 2024.
According to the quarterly report published on the company’s website on Friday, Kernel’s consolidated revenue in the second quarter of FY2025 reached $1149 million, up 10% year-on-year amid a low comparative base due to the lack of stable grain export operations in July-September 2023.
“This growth was primarily driven by an increase in edible oil sales, which was driven by both higher export volumes and higher global prices,” the company said.
At the same time, the Group recognized a net loss from changes in the fair value of biological assets in the amount of $33 million compared to a loss of $12 million recognized in Q1 FY2024, the report also specifies.
It is also noted that the Group’s cost of goods sold increased by 18% to $960 million, mainly due to a 45% increase in the cost of goods sold and raw materials used, reflecting increased competition for raw materials and limited supplies. On the other hand, transportation and procurement costs decreased by 52% year-on-year, accounting for only 10% of total cost of sales, due to lower freight rates supported by stable export operations from the Black Sea region.
As a result of the sharp increase in cost of sales, which outpaced revenue growth, gross profit in the second quarter of FY2025 decreased by 28% year-on-year and by 5% quarter-on-quarter to $157 million.
Other operating income for the three months ended December 31, 2024 amounted to $10 million, down 55% year-on-year, mainly reflecting gains from the settlement of contract price differences, inventory inventory, and fines and claims accrued on oil and grain trading operations.
It is noted that general and administrative expenses in the second quarter of FY2025 increased sharply by 42% year-on-year, reaching $75 million. This surge was mainly due to an increase in salaries and related expenses, as well as an increase in legal and professional services.
As a result, Kernel’s EBITDA in the second quarter of FY2025 amounted to $118 million, down 42% quarter-on-quarter and 30% quarter-on-quarter in FY2024.
Overall, in the first half of FY2025, the company’s net profit increased by 73% to $77 million, EBITDA by 29% to $287 million, and revenue by 22% to $1 billion 947 million.
Kernel is the world’s largest exporter of sunflower oil and one of the largest producers and sellers of bottled oil in Ukraine. It is also engaged in the cultivation and sale of agricultural products.
In FY2024, Kernel’s net profit decreased by 44% compared to FY2023 to $167.95 million, while revenue increased by 4% to $3.581 billion and EBITDA decreased by 30% to $381 million.
Kremenchuk Metalware Plant (KrZMW, Poltava region), a part of the assets of Kryukov Carriage Works (KVSZ), ended 2024 with a net profit of UAH 5.569 million, up 4.2 times compared to the same period in 2023.
According to the agenda of the company’s general meeting of shareholders scheduled for April 3, it is planned to leave the profit undistributed.
The shareholders are also planning to consider, among other things, the termination of the audit committee and early termination of its members’ powers, approve the supervisory board’s decision to appoint an external auditor (Poltava Bureau of Forensic Economic Expertise and Audit LLC) and the terms of the contract with it.
KrZMW specializes in the production of metal and wooden structures (impregnated wooden sleepers for broad gauge railways, supports for overhead telecommunication and power lines, kiosks, pavilions, containers).
The plant has been part of KVSZ since 2008. According to the Clarity Project, 75% of the company is owned by Estonian Skinest Finants, and the ultimate beneficiaries are Volodymyr Prykhodko, Chairman of the Supervisory Board and President of KVSZ JSC, and his wife Natalia.
In 2023, KrZMW earned UAH 1.32 million in net profit, up from UAH 0.28 million a year earlier, with net income growing by 44% to UAH 40.84 million, and in January-September last year, its net income more than doubled to UAH 60.1 million.
Retained earnings as of October 1, 2024 amounted to UAH 10.88 million.
State-owned PrivatBank increased its net profit by 6.3% to UAH 40.14 billion in 2024, retaining its leadership in the top five most profitable banks in the country, according to the National Bank of Ukraine (NBU).
Privat is followed by two other state-owned banks, Oschadbank and Ukreximbank. Oschad increased its net profit by almost 2.5 times to UAH 14.83 billion compared to Eximbank, moving it to third place with a profit of UAH 5.56 billion (+71% y-o-y).
The fourth and fifth positions were taken by banks with foreign capital: Raiffeisen and OTP. The former’s net profit decreased by 10.6% to UAH 4.28 billion, while OTP increased its net profit by 10.9% to UAH 4.12 billion.
The second five most profitable banks in 2024 were headed by Credit Agricole, which increased its net profit by 46.5% to UAH 4.09 billion. It also included: Ukrsibbank – UAH 4.08 billion (-3.4% compared to 2023), FUIB – UAH 3.94 billion (-0.3%), and Sense – UAH 3.81 billion (+33.3%). Universalbank (mono) closes the list, which was able to almost double its net profit last year to UAH 3.72 billion.
According to the NBU statistics, net profit was above the UAH 1 billion mark in four other banks: Citibank – UAH 3.34 billion (-6.9%), Ukrgasbank – UAH 2.91 billion (+50.4%), as well as Pivdenny Bank and A-Bank, which increased their net profit by 2.2 and 2.9 times to UAH 2 billion and UAH 1.36 billion, respectively.
In January-June 2024, Ukrzaliznytsia (UZ) increased its revenue by 19.51% compared to the same period in 2023 to UAH 53.9 billion, while decreasing its profit by 33.2% to UAH 3.17 billion, according to its interim condensed consolidated unaudited financial statements as of June 30, 2024.
According to the report for 6 months. 2024 on the official website of UZ, revenues from freight transportation in January-June increased by 17.8% to UAH 43.01 billion. At the same time, revenues from passenger and baggage transportation grew even more significantly by 22.15% to UAH 5.35 billion.
At the same time, UZ personnel costs in January-June 2024 increased by 24.75% to UAH 24.72 billion compared to the same period in 2023. Electricity costs increased by 56.2% to UAH 7.78 billion. In contrast, fuel costs decreased by 14.92% to UAH 4.62 billion.
Net foreign exchange loss increased 26.2 times to UAH 2.87 billion in the period under review.
Profit before tax decreased by 35.7% to UAH 3.25 billion.
As of June 30, 2024, UZ was involved in litigation with the Ukrainian fiscal authorities regarding the accrual of additional tax liabilities for income tax, VAT and other taxes in the amount of UAH 1.1 billion, including additional fines and penalties. As of June 30, 2024, the group’s potential loss from third-party claims in other litigation and arbitration proceedings amounted to UAH 1.3 billion, compared to UAH 1.63 billion in 2023, the report says.
The UZ group includes the parent company JSC Ukrainian Railways, PJSC Dnipropetrovs’k Diesel Locomotive Repair Plant, PJSC Zaporizhzhya Electric Locomotive Repair Plant, PJSC Lviv Locomotive Repair Plant, PJSC Kyiv Electric Car Repair Plant, PrJSC “Korosten Reinforced Concrete Sleepers Plant”, PrJSC “Hnivan Special Reinforced Concrete Plant”, PrJSC “Kyiv Electrotechnical Plant ‘Transsignal’, LLC ‘UZ Cargo Wagon’, LLC ‘Zbut Energy Ltd’ (together with subsidiaries), 65.62% of PrJSC ‘Tast-Garantia’, 50.004% of PrJSC IC ‘Inter-Poly’ Ukraine, 100% of UZ Cargo Poland sp. z.o.o Poland.
Net profit of Credit Agricole Bank (Kyiv) amounted to UAH 4.09 billion last year, which is 46.5% or UAH 1.44 billion more than in 2023, the press service of the financial institution reports.
“Crédit Agricole Bank’s net profit for the year amounted to UAH 4.1 billion after taxes at the increased rate of 50% (…) The bank’s financial results demonstrate sustainable development dynamics, disciplined risk management, and customer confidence,” the press release says.
It is noted that Credit Agricole’s net banking income for 2024 reached UAH 9.25 billion, which is 4.9% more than last year.
According to the press release, this is due to the growth of net interest income by 3.9% compared to 2023 to UAH 8.17 billion and increase of the deposit base by 10.9% to UAH 100.1 billion.
It is specified that corporate deposits increased by 9.3% to UAH 79.14 billion, and retail deposits by 17.2% to UAH 20.95 billion.
At the same time, the bank’s fee and commission income decreased by 5.6% to UAH 706 million.
The volume of loans and advances to customers remained almost unchanged in 2024, remaining at UAH 28.16 billion. Loans to businesses in Credit Agricole decreased by 2.8% to UAH 23.60 billion, while loans to individuals increased by 20.6% to UAH 4.55 billion.
“Credit Agricole has strengthened its position as a leader in car lending with a 28% market share in Ukraine. In 2024, the bank disbursed new car loans in the amount of UAH 3.3 billion, which is 50% more than in the previous year, outpacing the market growth rate of 40%,” the press service of the bank noted.
Last year, the bank’s assets increased by 12.9% to UAH 116.93 billion, while liabilities grew by 9.7% to UAH 103.75 billion. Agricole’s operating expenses increased by 11.7% to UAH 2.68 billion.
