According to preliminary data, Ukrnaftoburinnya (UNB) will receive more than UAH 1 billion in net profit in 2023, the company said in a press release on Monday.
“We planned a net profit of up to UAH 1.5 billion. But due to the revocation of the special permit and the shutdown, this figure will fall to about UAH 1.1 billion,” said Oleg Malchyk, chairman of the board, quoted in the document.
According to him, from the beginning of 2023 until the company was actually taken over by Ukrnafta on July 12 last year, UNB’s profit amounted to UAH 186 million, and for the period from July to December, it managed to make a profit of UAH 905 million.
“This is taking into account the fact that the company did not produce throughout December last year,” the company said.
According to UNB, despite the fact that the company was profitable before the transition to state control, the audit of the financial statements found UAH 18 billion of receivables that had signs of being uncollectible.
“This is either prepayment for some goods or financial assistance,” commented Malchyk.
The PJSC explained that bankruptcy proceedings were initiated against some companies that owe almost UAH 5 billion to UNB in June 2023. However, the new management managed to file applications for recognition of monetary claims, and such claims were recognized by the court, as a result of which UNB was included in the list of creditors of those companies in bankruptcy.
As reported, on November 28, 2023, the Sixth Administrative Court of Appeal (CAAC) overturned the order of the State Service of Geology and Subsoil (Derzhgeonadra) and revoked the special permit No. 6349 of July 10, 2019, under which UNB was producing at the Sakhalin field. The company stopped operating the field on December 1.
For its part, on February 9, 2024, the Kyiv District Administrative Court (KDAC) ordered the State Service of Geology and Mineral Resources to reconsider UNB’s application for a special permit for production at the Sakhalin field. On February 27, the court document came into force. However, the State Service of Geology and Subsoil filed an appeal against the ruling of the Kyiv District Administrative Court (KDAC).
“Ukrnaftoburinnya is one of the largest private gas producers in Ukraine. Since 2010, it has been developing the Sakhalin oil and gas condensate field (Krasnokutskyi district, Kharkiv region) with reserves of 15 bcm of gas. The company’s gross production in 2021 amounted to 691.3 million cubic meters of gas and 76.6 thousand tons of oil and condensate.
The Cabinet of Ministers of Ukraine has approved Ukrnafta’s financial plan for 2024, according to which the company’s net income is planned at UAH 118 billion and net profit at UAH 18 billion.
“The draft financial plan for 2024 also provides for: UAH 31 billion in taxes and fees, UAH 8.7 billion in dividends to the state,” the company said in a press release on Wednesday.
According to the document, in 2023, Ukrnafta earned UAH 24 billion in net profit, paid UAH 26 billion in taxes and fees, and will transfer more than UAH 8 billion in dividends to the budget at the end of the year.
“In 2024, the company plans strong growth with investments in development: the start of drilling 30 new wells, purchase and installation of world-class stimulation equipment, and renewal of the filling station network,” Ukrnafta CEO Sergiy Koretsky said in a press release.
As reported, Ukrnafta has set a strategic goal to double its oil and natural gas production to 3 million tons and 2 billion cubic meters by 2027, respectively.
“Ukrnafta is Ukraine’s largest oil producer and operator of a national network of 537 filling stations, of which 456 are in operation.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. On November 5, 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense, to the state.
Kremenchuk Metalware Plant (Poltava region) increased its net profit by 4.66 times in 2023 compared to 2022, to UAH 1 million 324,366 thousand from UAH 284 thousand.
According to the information for the company’s annual general meeting of shareholders scheduled for March 22 this year, which will be held remotely, the meeting will complete voting on April 1, 2024.
At the same time, the shareholders intend to summarize the results of 2023 and leave the profit undistributed.
It is also planned to approve the new version of the charter, approve the decision of the Supervisory Board to appoint the external auditor of AF “Intellect Capital” LLC for 2023.
The meeting intends to hold elections of members of the supervisory board.
As reported, in 2022, Kremenchuk Metalware Plant reduced its net profit by 51.5% year-on-year to UAH 284 thousand.
Kremenchuk Metal Products Plant was established in 1994 on the basis of the state-owned Kremenchuk Plant of Special Metal Structures and Communication Products through its corporatization. In 2008, Kryukiv Carriage Works (KVSZ) acquired Kremenchuk Metal Products Plant.
According to the NDU for the third quarter of 2023, AS Skinest Finants (Estonia), which is a shareholder of KVSZ, owns 75% of JSC Kremenchuk Metal Products Plant.
The authorized capital of the JSC is UAH 1067.2 thousand, the par value of the share is UAH 0.05.
In 2023, Ukrtransleasing PJSC received UAH 32.9 million in profit against UAH 59.79 million in losses a year earlier.
After the revocation of its license to conduct business activities in the provision of financial services, Ukrtransleasing focused on the development of freight forwarding services with railway rolling stock in 2023, the company’s press service said on Friday.
According to a press release, last year the volume of transportation in gondola cars carried out by the company increased by 38% compared to 2022. The company transported 3.05 million tons of cargo in gondola cars, including 2.38 million tons of coal (78%), 542.1 thousand tons of building materials (18%), and 74.4 thousand tons of iron and manganese ore (2%).
Grain car transportation increased by 46%. Grain carriers transported 370.2 thousand tons of grain, including 259.6 thousand tons of corn (70%), 38.6 thousand tons of wheat (10%), 43.5 thousand tons of soybeans (12%), and 20.7 thousand tons of rapeseed (6%).
“After the full-scale invasion of the Russian Federation, Ukrtransleasing’s operations are carried out in force majeure circumstances. The company is constantly in active search of relevant logistics solutions, while a significant part of the rolling stock is blocked due to active hostilities in the east of the country,” the statement said.
The company estimates the amount of losses incurred from the full-scale invasion at more than UAH 200 million.
It is noted that Ukrtransleasing remains a responsible taxpayer. During the two years of Russian military aggression, the company paid UAH 105.7 million in taxes to the budget. In addition, the company transferred UAH 20 million to a special account of the National Bank of Ukraine (NBU) to support the Armed Forces of Ukraine.
As reported, on September 1, 2023, the NBU revoked all existing licenses of Ukrtransleasing PrJSC (Kyiv) based on the company’s application. After that, the company was excluded from the Register of entities that are not financial institutions but have the right to provide certain financial services,
Ukrtransleasing was established in 1998 on the initiative of the Ministry of Transport and the Ministry of Industrial Policy of Ukraine. The company’s main activities are to provide leasing services to interested organizations of air and rail transport in the country. The main activities of the company are leasing (financial and operational) of air transport, railway rolling stock (wagons, locomotives) and provision of services for the transportation of goods in gondola cars and grain carriers. The company’s shareholders are Ukrzaliznytsia JSC (47.67%) and Lemtrans LLC (49.95%).
According to preliminary data, Dnipro Arrow Plant JSC (DnSZ, Dnipro) ended 2023 with a net profit of UAH 510.86 million, up 52% year-on-year in 2022.
According to the information published in the NSSMC’s information disclosure system on the agenda of the general meeting of shareholders of DnSZ on March 25, retained earnings at the beginning of this year amounted to UAH 1 billion 682 million, compared to UAH 1 billion 810 million a year earlier. Net income per ordinary share (par value UAH 10.5) amounted to UAH 2 (UAH 1.32 a year earlier).
The agenda of the meeting includes the issue of distribution of the net profit: according to the draft decision, UAH 112.006 million (or about 22% of the profit) is to be allocated to the dividend fund at the rate of UAH 440 per share, while the remaining profit of UAH 398.08 million is to be left undistributed.
As reported, based on the results of its activities in 2022, SESP allocated UAH 140.008 million, or 42% of the net profit at the rate of UAH 550 per share, leaving UAH 195.78 million undistributed.
At the same time, the planned shareholders’ meeting on March 25 intends to amend the distribution of profits for 2022, stipulating that UAH 101.82 million of retained earnings (UAH 195.78 million) will be allocated to the dividend fund to pay UAH 400 per share, and UAH 93.96 million will be left undistributed.
According to the publication, the shareholders at the meeting, in particular, intend to rename the company into Dnipro Switch Plant JSC (instead of Dnipropetrovs’k) and amend its internal regulations.
According to DnSZ, in 2023, its current liabilities increased by 89% to UAH 344.79 million, while its long-term liabilities increased by 73.8% to UAH 170.05 million.
Total accounts receivable for the year increased by 92% to UAH 427.96 million, inventories by 24% to UAH 484.65 million, and total assets by 27% to UAH 2 billion 656 million. DnSZ produces various types of turnouts for mainline and industrial transport and subways.
According to the NSSMC, as of the third quarter of 2023, 20.154% of DnSZ shares are owned by Johnen Capital Limited (Cyprus), 5% are owned by Dnipro City Council member Zahid Krasnov, his sons Ruslan and Artem own 10% and 11.228% of shares, respectively, and another 18.2959% are owned by Israeli citizen Victoria Korban (sister of businessman Gennadiy Korban – IF).
Among the shareholders who own more than 5% of the shares of DnSZ JSC are also the chairman of the board Sergiy Taranenko (almost 10%), Iryna Taranenko (8.658%), and CFO Valeriy Kryachko (7.3%).
As reported, in 2022, the plant slightly reduced its net profit by 2021 to UAH 335.8 million, while net income fell by a third to UAH 1 billion.
In the first half of 2023, the plant reduced its net profit by 13.7% compared to the same period in 2022 to UAH 72.48 million, while net income increased by 47.6% to UAH 564.6 million.
Slavgorod Reinforcement Plant (SARP, Dnipro region) ended 2023 with a net profit of UAH 18.93 million, up more than four times year-on-year in 2022.
According to the announcement of the general meeting of shareholders of SAZ to be held on March 22, the issue of profit distribution is on the agenda.
The draft resolution of the meeting on this issue provides for the profit to be left at the disposal of the company “to be used for statutory purposes”. There are no plans to accrue or pay dividends.
According to the information prior to the announcement, as of the beginning of 2024, the company’s retained earnings amounted to UAH 20.35 million (UAH 1.42 million a year earlier).
During the year, SAS managed to reduce its current liabilities by 2.1 times to UAH 25.89 million, and no long-term liabilities appeared. The value of the company’s assets decreased by 16.8% to UAH 46.83 million, in particular due to a 46% decrease in total receivables to UAH 7.1 million.
The agenda of the meeting also includes the report of the supervisory board, approval of the results of financial and economic activities, approval of the report of the audit company AF Financier, and amendments to the charter.
According to the NSSMC, as of the third quarter of 2023, Promarmatura PrJSC (Dnipro) owns 53.5661% of SAZ PrJSC, and Interbranch Assembly Base Generalmashkontrakt PrJSC owns 22.0307%.
Promarmatura JSC, which specializes in the production of hydraulic and pneumatic equipment, is owned by its director and chairman of the supervisory board of SAZ, Ihor Mezhebovsky, and Oleksandr Chelyadin (50% each). In 2022, the company generated UAH 155 million in net income.
The authorized capital of SAZ PJSC is UAH 0.045 million, the nominal value of a share is UAH 0.25.
According to the website, at the meeting on December 15, 2023, the shareholders decided to increase the authorized capital of SAZ JSC by UAH 1.375 million through the placement of additional shares (without a public offer).
Slavgorod Valve Plant was founded in 1926 as a cast-iron valve manufacturing company. Today, it specializes in manufacturing steel pipeline equipment (shut-off, control, and condensate traps) and completing it with flanges. It also produces fixtures for securing mine workings in coal mines, forging and stamping for parts of automotive and agricultural machinery.
According to the company’s 2022 financial statements, its net profit amounted to UAH 4.59 million, compared to a loss of UAH 0.58 million a year earlier, with net income growing by 15% to UAH 35.13 million.
