In November 2020, solvent banks of Ukraine saw UAH 3.54 billion of net profit, which is two
50% less year-over-year (UAH 7 billion), according to data published on the website of the National Bank of Ukraine (NBU).
According to the data, in January-November 2020, the banks’ net profit decreased by 28.6% year-over-year, to UAH 43.37 billion.
Banks’ incomes for 11 months increased by 3.3% year-over-year, to UAH 229.25 billion, including the result from revaluation and from sales and purchases grew by 1.4 times year-over-year (to UAH 22.5 billion), fee and commission income by 12.3% year-over-year (to UAH 62.97 billion), while interest income fell by 3.7% year-over-year (to UAH 135.49 billion).
At the same time, the banking system’s expenses for the specified reporting period amounted to UAH 186.13 billion, which is 14.1% more than in the same period in 2019. The increase in expenses was due to an increase in amounts sent to reserves (2.9 times more year-over-year), reaching UAH 25.08 billion. In addition, banks’ fee and commission expenses grew by 1.5 times, to UAH 21.57 billion, while interest expenses decreased by 13.7%, to UAH 58.46 billion.
PrJSC United Mining and Chemical Company, which manages Vilnohirsk Mining and Metallurgical Plant (Dnipropetrovsk region) and Irshansk Mining and Processing Plant (Zhytomyr region), in January-September this year increased its net profit by 4.2 times compared to the same period last year, to UAH 424.494 million (against UAH 100.736 million, respectively).
“The company’s net profit, actually received in the first nine months of this year, amounted to UAH 424.494 million, which is more than four times higher than the financial result of last year, which amounted to UAH 100.736 million,” the State Property Fund of Ukraine said in a press release.
At the same time, earlier, with reference to data of the portal of state enterprises, it was reported that UMCC for the nine months of 2019 reduced its net profit by 47.8% compared to the same period in 2018, to UAH 221.040 million from UAH 423.079 million. At the same time, net income for the indicated reporting period increased by 5.8%, to UAH 2.698 billion, and EBITDA amounted to UAH 488.895 million.
As reported, the Cabinet of Ministers of Ukraine on November 18 of this year approved the financial plan of the UMCC for 2020 with a net profit of UAH 575.670 million. At the same time, payments to the state this year from the company should amount to UAH 344.672 million, including income tax some UAH 104.203 million.
UMCC sells its products to more than 30 countries of the world. The main sales markets are the EU, China, Turkey, as well as the United States and African countries.
The Cereal Planet Group, a leading producer of cereals in Ukraine, in January-September 2019 received EUR 156,000 in net profit in January-September 2020, which is 1.8 times more compared to the same period in 2019.
According to the financial statements of the Cereal Planet PLC (Cyprus) on the Warsaw Stock Exchange, its revenue increased by 34.4%, to EUR 17.31 million, and gross profit by 1.6 times, to EUR 4.35 million.
In July-September 2020, the company reduced its net profit by 41.2%, to EUR 37,000, compared to the third quarter of 2019, and increased its revenue by 7%, to EUR 4.35 million. At the same time, the gross profit of Cereal Planet in the indicated period of 2020 decreased by 2.7%, to EUR 930,000.
“Currency translation differences played negative role and in the third quarter 2020 were EUR minus 282,000, aggregated three quarters 2020 it was EUR minus 506,000,” the report says.
According to the report, in the third quarter 2020, the company increased cereal production by 23%, to 10,400 tonnes compared to the same period last year. The main reason for the growth was an increase in pea production by 41%, to 5,130 tonnes, buckwheat by 35%, to 2,900 tonnes, bulgur by 18%, to 1,740 tonnes.
In general, over the period, Cereal Planet increased cereal production by 51%, to 33,500 tonnes compared to January-September 2019. The growth was due to an increase in pea production by 122%, to 16,880 tonnes, buckwheat by 39%, to 6,980 tonnes, bulgur by 7%, to 4,580 tonnes, and millet by 24%, to 2,640 tonnes.
Cereal Planet produces weight grains for B2B under the OLIMP trademark for four product lines: Bulgur, Ridlana, Maifaina, Zlotokosica, and under the Lyuba Ferma trademark – food for animals. It exports cereals to more than 50 countries of the world (China, India, Germany, Italy, UAE, Poland, Turkey, etc.).
Cereal Planet achieved nowadays around 10% of the Ukrainian market.
The owners of the group are Anatoli and Oleksandr Vlasenko (33.54% and 29.93%, respectively), Olekasandr Slavhorodsky (29.93%), Ihor Dobruskin (5.5%).
Cereal Planet in 2019 received EUR 75,000 in net loss versus EUR 162,000 in net profit in 2018. In January-June 2020 it received EUR 247,000 in net profit versus EUR 26,000 for the same period in 2019.
The profit of Ukrainian banks in April-September 2020 fell by 22.2%, to UAH 37.6 billion compared to the same period a year earlier (year-over-year), at the same time, the National Bank of Ukraine (NBU) expects that till the end of 2020 the banking system of Ukraine will be profitable.
According to an overview of the banking sector on the NBU website, the banking sector continues to overcome the consequences of the COVID-19 pandemic, in the third quarter of 2020 the main indicators of banks resumed growth. At the same time, losses from the deterioration of the loan portfolio quality remain the main challenge for the profitable activities of banks.
According to the NBU report, during the third quarter, the rate on 12-month deposits in hryvnias decreased by only 0.9 percentage points, to 8.7% per annum. It is noted that, although the NBU refinancing rate remains unchanged, a further decrease in loan rates is expected, since the potential for their reduction has not yet been exhausted.
According to the National Bank, the spread between three-month and 12-month deposits in hryvnias increased slightly from 0.2 percentage points to 0.5 percentage points, but this did not create incentives for the continuation of the maturity of deposits, and corporate hryvnia funds fell by 1.4 percentage points, to 3.8% per annum.
According to the report, the average interest loan rates to economic entities in hryvnias decreased by 1.0 percentage points, to 9.6% per annum in July-September, and for loans to individuals by 1.9 percentage points, to 30.9% per annum.
It is indicated that the net assets of Ukrainian banks in the third quarter increased by 7.6% to UAH 1.71 trillion, the share of government domestic loan bonds in assets by 4.8 percentage points, and NBU deposit certificates by 17%.
The IMC agricultural holding posted a net profit of $33.17 million in January-September 2020, which is 1.8 times more than in the same period in 2019.
According to the company’s report on the website of the Warsaw Stock Exchange, IMC’s revenue for this period decreased 4%, to $113.84 million.
The holding’s gross profit in the first nine months of 2020 increased 47%, to $71.42 million, operating profit grew by 2.2 times, to $49.12 million.
The company’s EBITDA for the reporting period increased 1.6 times compared to January-September 2019 and amounted to $64.71 million.
As of September 30, 2020, the company’s noncurrent liabilities amounted to $100.06 million versus $108.95 million at the end of September last year, current liabilities stood at $68.85 million ($89.03 million).
After the reporting period, IMC repaid loans, borrowings and interest in the amount of $2.05 million and received loans and borrowings in the amount of $0.46 million.
According to the report, revenue from wheat sales for the reporting period increased 35%, to $17.19 million, from sunflower it grew by 121%, to $16.62 million, cattle – by 181%, to $0.3 million, revenue from the sale of corn fell by 17%, to $77.13 million, milk – by 9%, to $1 million, soybeans – by 80%, to $0.44 million.
IMC specializes in the cultivation of grain, oilseeds and milk production in Ukraine.
Veon Plus LLC, the owner of Radisson Blu Hotel in Podil in Kyiv, received UAH 50.9 million of net loss in January-September 2020 against a profit of UAH 2.9 million last year.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission, income decreased by 58.4% to UAH 39.8 million in the nine months.
The gross profit decreased by 83% to UAH 9.4 million, the operating loss amounted to UAH 29.8 million against a profit of UAH 25.1 million in January-September 2019.
Uncovered loss increased by 17.8% and amounted to UAH 337.2 million for the reporting period. The company’s long-term liabilities increased by 0.8% to UAH 455.3 million, while the current ones decreased by 40.7% to UAH 36.6 million.
The assets of Veon Plus decreased by 7.3% in the nine months and amounted to UAH 410.5 million.
In 2019, Veon Plus increased its net profit by 49% to UAH 5.5 million compared to 2018, net income decreased by 7% to UAH 130.2 million.
Veon Plus LLC was founded in 2006. In 2012, the company transferred the integral property complex of Radisson Blu Hotel in Podil to the management of Rezidor Hotels Aps Danmark (Denmark).
The opening of Radisson Blu Hotel with 163 rooms at 17-19 Bratska Street took place in 2012. CJSC Hotel Development (Moscow, Russia) acted as the project’s investor. Investments in the facility were approximately $ 40-45 million.
According to the National Securities and Stock Market Commission, as of October 2020, the owner of the 100% stake in Veon Plus is T.A.S Property Limited (Cyprus).
As reported, with reference to the data of the legal group CMS, the transaction on the purchase of Radisson Blu Hotel in Podil by Sergiy Tigipko took place in 2016. Its cost was EUR 9.2 million.
The charter capital of the company is UAH 63.9 million.
