Agroliga Group (Kharkiv Oblast) has generated EUR1.00m of consolidated net profit in January-June 2023, up 24.6% year-on-year.
According to the company’s report on the Warsaw Stock Exchange, its revenue for the first half of the year decreased by 9.4% to EUR24.61 mln.
Due to a smaller increase in the cost of sales, gross profit fell by only 0.7% to EUR3.30m, but distribution costs, which rose by a third to EUR1.54m, led to a 30.0% drop in operating profit to EUR1.44m.
Agroholding notes that its free cash flow at the end of the first half of the year fell to EUR0.20m from EUR2.54m due to a reduction in debt at the end of 2022, while investments fell fivefold year-on-year to EUR0.22m in the reporting period.
The main shareholders of the group are Alexander Berdnik and Irina Poplavskaya with 41.66% stakes each, while another 16.68% of shares are in free float.
As reported, Agroliga Group reported a EUR2.21m net loss in 2022, down from a EUR8.13m net profit a year earlier, due to Russian full-scale aggression. Its revenue rose 18.9% to EUR47.46m.
In its annual report, the agroholding said it operates about 8,000 hectares of land, pressed oil plants with an annual capacity of 42,000 tons, and an oil extraction plant with an annual processing capacity of 100,000 to 180,000 tons of sunflower seeds, which can also produce soybean and rapeseed oil. In addition, the group has completed the construction of energy facilities that operate on a green tariff and ensure waste-free production.
The company employs 332 people as of August 15.
As reported, Agroliga Group earned EUR0.77m in net profit in January-March 2023, up 70.5% year-on-year in January-March 2022. Its revenue for the first quarter increased by 32.4% to EUR12.91m.
The profit of the state-owned Ukrgasbank in January-July 223 amounted to UAH 2.9 billion, while the bank ended the same period in 2022 with a net loss of UAH 3.5 billion, according to the financial institution’s website.
According to the release, the bank’s assets as of August 1, 2023, reached UAH 158.6 billion, having increased by UAH 26.4 billion since the beginning of the year (excluding the impact of exchange rate differences).
The bank notes that the total portfolio of customer accounts has increased by UAH 23.5 billion since the beginning of the year to UAH 136.1 billion, including UAH balances increased by UAH 17.9 billion.
The financial institution clarifies that the hryvnia deposit portfolio of customers has almost doubled since the beginning of the year, or by UAH 3 billion to UAH 9.1 billion.
This, in particular, made it possible to increase the portfolio of three-month deposit certificates to more than UAH 11.4 billion.
In addition, Ukrgasbank increased its portfolio of domestic government bonds by almost two-thirds over 7 months – by UAH 14.2 billion to UAH 36.3 billion.
At the same time, the volume of lending was lower: since the beginning of the year, almost UAH 5 billion has been provided, of which UAH 2.8 billion was used to finance the needs of agricultural and food industry enterprises, and another UAH 1.6 billion was attracted in the electricity and trade sectors.
“To support trade, exports and imports, Ukrgasbank, which is a leader in Ukrainian trade finance, has implemented 400 transactions for Ukrainian enterprises worth over UAH 6 billion,” the financial institution added.
According to the National Bank of Ukraine, as of July 1, 2023, Ukrgasbank ranked 5th in terms of total assets (UAH 167.97 billion) among 65 banks operating in the country, its net profit for the first half of the year amounted to UAH 2.6 billion.
In the second quarter, the state-owned bank’s network grew by two branches and now includes 219 structural units across the country.
Agroholding KSG Agro posted $1.04 million in net profit in the first half of 2023, up 21.2% from the same period last year.
According to the company’s report on the Warsaw Stock Exchange on Tuesday, its EBITDA fell 27% to $1.61 million.
It is stated that KSG Agro’s revenue in January-June this year increased 23% year-on-year to $7.41 million, while gross profit decreased 13% to $1.79 million and operating profit decreased 37% to $0.94 million.
“The group continues to execute its simple strategy of focusing on three winter crops, two spring crops and single breed hogs,” the document notes.
It is specified that in the first half of 2023 KSG Agro exported 4.2 thousand tons of grain crops (wheat, corn, barley) mainly to Asia and Africa within the existing grain corridor through the ports of Odessa and Odessa region.
KSG Agro conducted sunflower sowing on the area of 7.3 thousand hectares at the end of May – beginning of June and during the growing season is engaged in chemical and mechanical tillage with mechanical cultivators and rotary harrows.
“The harvest is in good condition. The sowing campaign went on as planned, without major interruptions due to fighting,” the company said in a statement. According to it, harvesting of winter crops has been completed: barley yield was 3 tons/ha, rape – 2.5 tons/ha, wheat – 5 tons/ha.
The agricultural holding recalled that in June, the Kakhov dam on the Dnieper River was destroyed, which led to flooding of a number of regions downstream and drying up of several irrigation canals upstream. Although the group was partially dependent on water supplies from the canals, these supplies were not essential to the group’s operations. KSG Agro has switched to alternative water sources and does not foresee water shortages in the near future. None of the agro holding companies are located downstream of the dam and have not been affected by flooding.
KSG Agro, a vertically integrated holding company, is involved in pig farming, as well as the production, storage, processing and marketing of grains and oilseeds. Its land bank is about 21 thousand hectares in Dnepropetrovsk and Kherson regions.
According to the agroholding, it is among the top 5 pork producers in Ukraine.
Last year KSG Agro, due to the full-scale war started by Russia, ended 2022 with a net loss of $1.68 mln compared to $17.71 mln net profit in 2021, its EBITDA decreased 5.5 times to $1.79 mln, and its revenue decreased by 47.3% to $16.2 mln.
In the first quarter of this year, the agribusiness holding company earned $1.53 million in net income, down 17% from the same period last year. Its EBITDA increased by 23% to $1.87 mln, while revenue grew by 45% to $5.12 mln.
Major Ukrainian cable plant Odeskabel ended January-June this year with a net profit of UAH 5.05 million, while in the first half of 2022 the loss amounted to UAH 2.52 million.
According to the interim statements of the company released on Friday in the information disclosure system of the National Securities Commission, its net income increased by 31.2% to UAH 903.44 million
The company earned an operating profit of UAH 48.62 million (11% more than a year earlier), while gross profit rose 42.5% to UAH 164.9 million.
According to “Odeskabel”, in the first half of the year the largest share (41%) in total sales amounted to wires and power cables, compared to January-June 2022 their share increased by 8.4 p.p..
At the same time, the share of cables for structured cabling systems (LAN-cable) decreased by 8 p.p. to 22.85%, fiber optic cables increased by 8 p.p. to 22.85%. – To 22.85%, fiber-optic cables – by 2.9 p.p., to 16.6%.
As reported, in the first quarter of this year Odeskabel received UAH 0.8 mln of net profit compared to a loss of UAH 21.64 mln for the same period of 2022, with net income growing by 32.6% to UAH 433.28 mln.
Thus, in the second quarter, the plant increased net income by 30% by April-June 2022, to UAH 470.16 mln, while net profit decreased 4.5 times to UAH 4.27 mln.
The main risks for the company, according to the statements, remain uncertainty of the timing of the end of the military aggression of the Russian Federation against Ukraine; dependence on the fact that prices for 90% of materials are formed on the world market, and the sales market is mainly Ukraine and neighboring countries; complication of supplies of materials; reduction of purchases of products for capital construction by telecom operators.
In turn, according to information on the website of “Ukrzaliznytsia”, during the meeting held on July 19 with manufacturers of cable products, representatives of UZ urged Ukrainian plants to participate in tenders directly, which will “minimize the risks of participation of unscrupulous intermediaries and get the best products at a favorable price”.
“Odeskabel” produces a wide range of copper and fiber optic cables, digital or LAN cables, power cables, cords and wires.
As reported, the company’s net income in 2022 decreased by 24.7% by 2021 to UAH 1 billion 561 million, the loss amounted to UAH 27.24 million against net profit of UAH 55.4 million.
Ukraine’s major railcar-building enterprise Dneprovagonmash JSC (DVM, Kamenskoye, Dnepropetrovsk region), controlled by businessman Serhiy Tihipko’s TAS financial and industrial group, ended the first half of 2023 with a net profit of UAH 57.85 million against a loss of almost UAH 25 million in the same period last year.
According to the company’s interim financial statements released on Wednesday in the SECP disclosure system, its net income from sales increased by 17.2% to UAH 578 million.
In January-June, the company increased its gross profit 3.6 times to UAH 80.72 million, generating UAH 58.68 million in operating profit against a loss of UAH 20.04 million.
Compared to the beginning of this year, DVM reduced current liabilities by 12.4% to UAH 261.38 mln, while long-term liabilities increased by 13.6% to UAH 59.84 mln.
The report does not provide the number of cars produced and sold during the reporting period.
Among the price risks for the company, the report notes the risk of higher prices for components, materials and energy (material costs account for 80-90% of the cost of production), and lower prices for railcars.
As reported, in the first quarter of this year DVM received a net profit of UAH 37.04 million against a loss of UAH 18.07 million for January-March 2022, with net income growing by 32% to UAH 396.92 million.
Thus, in the second quarter of 2023, the company’s net profit amounted to UAH 20.81 million compared to a loss of UAH 6.93 million in April-June 2022, with net income falling by 5.9% to UAH 181.09 million.
“Dneprovagonmash” is one of Ukraine’s leading enterprises in the design and manufacture of freight cars. Annual production capacity is 9 thousand units.
As reported, an extraordinary meeting of shareholders of DVM on July 25 decided to transform it into TAS Dneprovagonmash LLC.
DVM’s net income for 2022 increased by 77.3% to UAH 1 billion 108.7 million, net profit amounted to UAH 48.64 million against a loss of UAH 111.3 million a year earlier. At the same time, railcar sales grew by 35% to 623 units, while production grew by 21% to 577 units.
TAS Group was founded in 1998 by businessman Tigipko. Its business interests include financial sector (banking and insurance segments) and pharmacy sector, as well as industry, real estate and venture projects.
Universal Bank’s (mono) net profit for January-June 2023 amounted to UAH 1 billion 564.7 billion, which is almost 6.3 times higher than the same period in 2022, according to the bank’s unconsolidated half-year report.
According to the report, in particular, in the second quarter of this year, the bank posted a net profit of UAH 740.65 million, which is almost 2.1 times better than in the second quarter of last year.
It is noted that the net interest income of Universal Bank for the first half of this year increased by 62.6% to UAH 5 billion 517.0 billion, in particular, in the second quarter the growth was 89.6% to UAH 2 billion 763.5 million.
Net commission loss in January-June this year was 2.9 times higher than the loss in January-June 2022, amounting to UAH 611.1 million, in particular, in April-June – by 40.3%, amounting to UAH 381.2 million.
A significant contribution to the improvement of the bank’s financial result was made by the reduction of impairment loss in the first half of this year to UAH 682.1 million, while in the same period last year this figure amounted to UAH 3 billion 753.6 million. According to the report, in the second quarter of this year, the loss on this item amounted to UAH 271.8 million against UAH 2 billion 531.4 million in the second quarter of last year.
Net profit from foreign exchange operations decreased in the first half of this year to UAH 1 billion 923.8 million from UAH 2 billion 395.0 million in the first half of last year, including UAH 806.99 million in the second quarter from UAH 2 billion 75.0 million.
The bank’s total profit for the first half of 2023 reached UAH 1 billion 846.6 million compared to UAH 201.2 million for the same period last year.
According to the report, in January-June this year, the bank’s assets increased by UAH 6.14 billion, reaching UAH 92.71 billion.
This growth is attributed to an increase in cash and balances with the NBU from UAH 19.72 billion to UAH 26.44 billion, loans and advances to customers from UAH 17.8 billion to UAH 22.02 billion, and amounts due to other banks from UAH 2.93 billion to UAH 4.14 billion.
At the same time, investments in securities decreased from UAH 34.35 billion to UAH 30.89 billion.
In the first half of 2023, Universal Bank’s customer accounts increased by 11.6% to UAH 77.43 billion, equity increased from UAH 9.20 billion to UAH 11.05 billion, while retained earnings decreased by 27.5% to UAH 1.56 billion.
Universal Bank was founded in January 1994, in 2016 it became a member of the financial and industrial group TAS owned by Sergey Tigipko, and in 2017 it became a participant. Universal Bank operates a virtual monobank that serves about 7.44 million customers.
According to the NBU, as of June 1, Universal was one of the ten largest banks in the country, ranking ninth among 65 operating Ukrainian banks in terms of total assets (UAH 100.24 billion). At the beginning of June, the bank’s network consisted of 13 branches. The average number of employees in the first half of 2023 was 2168, compared to 2216 as of the end of the reporting period on December 31, 2022.
