Ferrexpo with assets in Ukraine in 2018 saw $335.22 million in net profit, which is 15% lower than the figure of 2017.
According to the annual financial statements posted by the company on the website of the London Stock Exchange (LSE) on Tuesday, its revenue last year grew by 6.4%, to $1.274 billion with a fall of 2.3% in sales of pellets, to 10.227 million tonnes and growth of pellet production by 1.6%, to 10.607 million tonnes.
Gross profit fell by 2.5%, to $766.09 million, earnings before interest, taxes, depreciation and amortization (EBITDA) – by 8.7%, to $502.88 million and operating profit – by 12.7%, to $427.58 million.
Net debt fell by 14%, to $339 million with capital investment growing by 31.1%, to $135 million.
“We continued to benefit from the strong global demand for our high-grade iron ore pellets, which helped deliver strong cash flow despite a rise in costs. This enabled us to increase investment, reduce debt further and pay a record dividend,” Non-executive Chairman Steve Lucas said.
He said that “our balance sheet is now strong and this gives us a platform to deliver the next stage in our planned expansion.” “This year we plan to increase investment once more to be able to hit our medium-term production target of 12 million tonnes per annum by 2021 and lay the foundations for our longer-term intention to move to annual output of 20 million tonnes per annum,” he said.
The net profit of JSC Raiffeisen Bank Aval (Kyiv) in January-March 2019 amounted to UAH 1.079 billion, which is 21.9% less than in the same period of 2018 (UAH 1.381 billion). According to the quarterly statements of the bank on its website, its net interest income for the first three months of the current year increased by 6.3% compared to the corresponding period last year, to UAH 1.740 billion.
Since the beginning of the year, its assets decreased by 3.8%, to UAH 70.526 billion, in particular loans to customers were down by 3.3%, to UAH 45.278 billion.
Since the beginning of the year, the bank’s liabilities have decreased by 6.3%, to UAH 57.804 billion.
The charter capital of the bank in the first quarter did not change and remained at UAH 6.153 billion, while net worth grew by 9.4%, to UAH 12.721 billion.
Raiffeisen Bank Aval was founded in 1992. According to its data, on January 1, 2019, Raiffeisen Bank International owned 68.27% of the charter capital of the financial institution, the EBRD held 30%.
The net profit of Ukrainian banks, not taking into account insolvent ones, in January-March 2019 totaled UAH 13.167 billion, which is 51.8% more than a year ago, according to a posting on the website of the National Bank of Ukraine (NBU).
Revenue of Ukrainian banks over the period grew by 28.6%, to UAH 58.006 billion.
Expenses of the banking system in January-March 2019 accounted for UAH 44.839 billion, which is 23.1% more than a year ago.
The NBU wrote on its Facebook page that there are three factors for the growth of the banking system’s profit in Q1 2019: growth of net interest income of banks by 18%, to UAH 19.5 billion, growth of net commission income of banks by 18%, to UAH 9.9 billion and foreign exchange revaluation profit of UAH 3.8 billion.
According to the NBU, as of April 1, 2019, a total of 77 banks operated in Ukraine.
JSC Ukrgazvydobuvannia saw an 11% fall in net profit in 2018, to UAH 27.135 billion (around $1 billion).
According to the financial statements audited by Deloitte and posted on the company’s website, net revenue in 2018 grew by 5.2%, to UAH 78.97 billion, while gross profit fell by 8.8%, to UAH 38.368 billion.
In 2018, the company saw revenue from sale of natural gas and oil in the amount of UAH 69.825 billion (a rise of 3.7% on 2017), from sale of refined petroleum products – UAH 8.465 billion (a rise of 21.4%), fossil fuel extraction and preparation services – UAH 220.216 million (a fall of 31.6%), and other goods and services – UAH 459.661 million (a rise of 3%).
The royalty for the use of subsoil and other taxes in 2018 was UAH 25.268 billion (a rise of 13.4% year-over-year), depreciation totaled UAH 9.84 billion (a rise of 47.7%), staff costs and social payments came to UAH 3.007 billion (a rise of 34.4%), and other costs – UAH 2.487 billion (a rise of 35.2%).
As reported, Ukrgazvydobuvannia increased production by 1.2% (by 176.2 million cubic meters), to 15.42 billion cubic meters in 2018.
Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is the country’s largest gas producing company, providing about 75% of the country’s total gas production.
JSC Chasiv Yar Bus Plant (Donetsk region), which produces Ruta buses, saw UAH 14.6 million in net profit in 2018, which is two times more than in 2017. According to the agenda of a shareholders’ meeting due to on April 26 posted in the media, the company’s retained earnings was UAH 131.18 million at the beginning of 2019 (UAH 239.37 million in 2018).
The agenda includes the distribution of the earning received last year. According to the draft resolution of the meeting, the earnings would be retained.
In 2018, the plant increased its current liabilities by 27.3%, to UAH 4.62 million, while long-term liabilities were not formed.
Total accounts receivable of the company increased by five times, to UAH 11.76 million, while its assets in general decreased by 43.7%, to UAH 138.61 million.
Chasiv Yar Bus Plant was founded in 1958.
JKX Oil & Gas with assets in Ukraine and Russia in 2018 saw $15.26 million in net profit compared with net loss of $17.66 million in 2017. This is the first profit of the company since 2013.
According to unaudited preliminary results of the company posted on the London Stock Exchange (LSE) on Friday, its revenue grew by 24.4%, to $92.87 million benefitting from high sales prices in Ukraine.
Average price of gas in 2018 was 29.6% higher than in 2017, being $307.80 per 1,000 cubic meters, that for oil – 15.1% more ($74 per barrel), and LPG – 16.5% more ($544 per tonne).
According to the document, the company moved into to net cash position of $8.2 million ($9.7 million net debt position in 2017).
Last year the company’s capital expenditure totaled $11.8 million, including $11.1 million related to Ukraine.
In 2018, group average production was 8,937 boepd (2017: 8,657 boepd), an overall increase in production of 3.2%. In Ukraine the figure grew by 4.8%, to 3,677 boepd, in Russia by 2.9%, to 5,169 boepd and in Hungary it fell by 30.5%, to 91 boepd.
JKX Oil & Gas is engaged in exploration and production of hydrocarbons in Ukraine, Russia, Hungary, and Slovakia.
The largest shareholders of JKX are Eclairs Group of Ihor Kolomoisky and Hennadiy Boholiubov with 27.47% of the shares, Keyhall Holding with 11.42%, Neptune Invest & Finance Corp with 12.95%, and Interneft Ltd with 6.6%.
