Business news from Ukraine

Business news from Ukraine

Italy plans to introduce 26% tax on profit from cryptocurrencies

Italy plans to introduce 26% tax on profit from cryptocurrencies. The government will charge tax if the profit exceeds 2 thousand euros.
Taxpayers have already received letters demanding to indicate the value of their crypto-assets as of January 1, 2023 in the declaration and pay a tax of 14%.

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“Ista-Center” will allocate UAH 155 mln in profits to cover past losses

Ista Center (Dnipro), a producer of starter batteries, intends to use its net profit for 2021 in the amount of 154.85 mln hryvnia to cover the losses of the previous periods.
According to the draft decision of the general meeting of the company shareholders, scheduled for December 26, published in the NKTSBM disclosure system, Ista-Center does not plan to accrue and pay dividends.
According to the company’s information, net profit per one common share in 2021 was UAH 60.4 mln, whereas a year earlier it amounted to almost UAH 2.9 mln. Net profit in 2020 was 7.37 million hryvnias.
As of January 1, 2022, the company had retained earnings of 12.81 million hryvnias against an uncovered loss of 143.25 million hryvnias on the same date in 2021.
The shareholders also plan to approve the reports of the management bodies at the meeting, approve the main directions of development for 2022 and re-elect the supervisory board.
“Ista-Center”, operating since 1995, is one of the plants producing starter batteries in Dnipro (the other is DOZ “Energoavtomatika”).
According to the latest financial statement of the company, which was made public by the NCSSM, its net income in 2020 was 206.6 million hryvnias. By the beginning of 2021, the plant employed 135 people.
According to the NCSSM, as of the fourth quarter of 2021, Oberon-Center LLC (Dnipro) owns 40% of the shares in which, according to Opendatabot, over 75% belongs to Scotwind Limited, whose beneficiary is named Oleg Zimin; 23.0476% is owned by Battery Investment Corp. registered in Panama and 6.23% belongs to the Ista International Corporation (Belize).
Another 21.55% is owned by the state. As reported, the Ista Center was included in the list of facilities transferred by the Cabinet of Ministers to the State Property Fund for privatization, which was made public in August 2022.

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“Intervzryvprom” has increased its profit by 2.6 times and will use part of it to cover losses without paying dividends

PJSC “Enterprise with foreign investment (EFI) “Intervzryvprom” (Gorishni Plavni, Poltava region) at the end of 2021 increased its net profit in 2.6 times compared with 2020 – up to 113.354 million UAH from 43.858 million UAH.
According to the company’s announcement about the annual meeting of shareholders, which will be held on December 27, the undistributed profits at the end of last year amounted to 72.175 mln hryvnia.
The draft decisions of the meeting proposed to the shareholders to approve the profit received in 2021 in the amount of 113,354 mln hryvnia. Of these UAH 40,879 mln to be used for paying off the losses of previous years, UAH 1 mln 599,9 thousand for the formation of the reserve capital of the company and UAH 70 mln 875,1 thousand to be left undistributed.
Not to pay dividends on the results of activity of PrJSC in 2021.
The stockholders will also summarize the results of the company’s activity for 2021, approve reports and approve major transactions.
As it was reported, in 2004-2005 Intervzryvprom put into operation at Poltava Mining and Processing Enterprise a technological line for production of emulsion and a mixing and charging machine which was purchased in the USA.
PJSC Intervzryvprom Foreign Investment Company (FIC) was founded in May 2001. It is engaged in the production of explosives.
According to the data of the National Tax Service as of the fourth quarter of 2021, PrJSC Ukrainian Financial Company and Intervzryvprom Ltd have 24.9981% each of the company’s shares, while M&Q Trading Limited and West Industrial Investment company Ltd (both in Cyprus) have 24.9972% each.
Intervzivprom Ltd. was registered in September 2000 with the registered capital of 1.5 million hryvnias. The company’s beneficiary Konstantin Nosov (Kiev) owns a 99.2% stake. Among its main activities is the production of explosives.
The registered capital of PJSC Intervzryvprom is UAH 10.666 mln, and the par value of its shares is UAH 100.

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Yaroslavskyy’s DMZ received UAH 1.7bn in profit

Dniprovsky Iron and Steel Plant (DMZ, formerly Evraz-DMZ), part of DCH Steel Group of DCH businessman Oleksandr Iaroslavskyi, according to the results in 2021 received a net profit of UAH 1 billion 725.157 million, while finished the year 2020 with a net loss of UAH 394.091 million.
According to the note attached to the agenda of the annual meeting of shareholders, scheduled for December 22, which will be held remotely, the outstanding loss at the end of last year was UAH 826.728 million.
The shareholders intend to summarize the results of the activity in 2021, approve reports and direct the received profit to redeem the losses of the previous years.
The meeting will also consider personnel matters: dismissal of members of the Supervisory Board and Revision Commission and election of new ones.
Besides, the shareholders will elect the company auditor and approve the major transactions.
DMZ specializes in the production of steel, pig iron, rolled steel and rolled products.
On March 1, 2018, DCH Group signed an agreement to purchase Dneprovsky Metallurgical Plant from Evraz.
According to NDU as of the fourth quarter of 2020, Drampisco Limited (Cyprus) owns 97.7346% of DMZ shares.
The authorized capital of PrJSC is UAH 574.994 mln, the nominal value of one share is UAH 0.25.

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“Yuzhkoks” made UAH 1.3 billion in profit

PJSC Yuzhkoks (Kamenskoye, Dnipropetrovsk region) last year received a net profit of UAH 1 billion 292.672 million in net profit, while the previous year there was a net loss of UAH 632.050 million.
According to the official information of the company to the agenda of the annual meeting of shareholders, scheduled for December 21, which will be held remotely, at the end of 2021 its undistributed profits amounted to 1 billion 507.635 million UAH.
According to the draft decision of the meeting, the shareholders intend to summarize the work in 2021, choose an auditing company and distribute profits.
It is suggested to leave the profit received in 2021 undistributed.
Dashuria Ltd. owns 94.9565% of the company as of the fourth quarter of 2020, according to the NDU.
Metinvest B.V. (Netherlands) reported in a 2018 report that the company acquired a 23.71% stake in Yuzhkoks for $30 million.
The authorized capital of PJSC “Evraz Yuzhkoks” – 171.918 million UAH, the par value of the share – 0.25 UAH.

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Sukhaya Balka mine increased net profit by 3.62 times

Sukhaya Balka mine (Krivoy Rog, Dnipropetrovsk region), which belongs to Oleksandr Iaroslavskyi’s DCH group, increased its net profit in 2021 by 3.62 times compared with the previous year – up to UAH 1 billion 326.460 million from UAH 366.802 million.
According to the official information of the company to the agenda of the annual meeting of shareholders, scheduled for December 22, which will be held remotely, the undistributed profits at the end of last year amounted to 3 billion 418.682 million UAH.
The shareholders intend to summarize the results of work in 2021, approve reports and approve significant transactions of the company.
The draft resolution proposes to use the profit to replenish working capital.
At the meeting, there will be considered staff issues: termination of the power of the current members of the Supervisory Board and the Audit Committee and election of new members.
As reported, the Sukhaya Balka mine in 2020 decreased its net profit by 59.7% compared to the previous year – to 366.802 million UAH from 909.636 million UAH.
DCH Group acquired the mine from Evraz Group in May 2017.
Sukhaya Balka mine is one of the leading mining companies in Ukraine. It mines iron ore using the underground method. The mine includes the Yubileynaya and Frunze mines. Frunze.
“Sukhaya Balka” specializes in the extraction and production of marketable iron ore, which includes sinter ore (iron content 56-60%) and blast furnace ore (47% – 50%).
According to the NDU for the fourth quarter of 2021, Yaroslavskyy, who is listed as a citizen of the United Kingdom and a non-resident of Ukraine, directly owns 77.4193% of the mine, and a resident individual, Artem Aleksandrov, owns 20%.
The charter capital of Sukhaya Balka is UAH 41.869m, and the par value of a share is UAH 0.05.

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