Business news from Ukraine

Business news from Ukraine

STATE-RUN ENERGOATOM SEES 2.9-FOLD DROP IN NET PROFIT IN JAN-JUNEE

The National Nuclear Generating Company Energoatom in January-June 2019 saw 2.9 times less in net profit compared to the same period in 2018 (by UAH 2.72 billion). It now totals UAH 1.114 billion.
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, in January-June 2019, its net revenue totaled UAH 23.060 billion, which is 12.3% more than a year ago (UAH 28.559 billion). Gross profit of Energoatom grew by 8.4% or UAH 435.6 million, to UAH 5.601 billion.
As reported, the company in January-June 2019 increased electricity generation by 6.5% compared to the same period of 2018, to 42.776 billion kWh.
Energoatom is the operator of all four Ukrainian-based operating nuclear power plants, which have 15 VVER reactors with an overall generating capacity of 13.835 gigawatts.

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UNIVERSAL BANK SEES 5.7-FOLD RISE IN NET PROFIT

The net profit of Universal Bank (Kyiv) in January-June 2019 amounted to UAH 268.46 million, which is 5.7 times more than in the same period of 2018.
According to the report posted on the bank’s website, the net interest income of the bank in the first half of this year increased by 2.4 times compared with the corresponding period of 2018, to UAH 452.967 million.
The bank’s assets for six months of this year rose by 42.3%, to UAH 12.034 billion, in particular loans to customers were by 41.1%, up – to UAH 6.612 billion.
Since the beginning of the year, the bank’s liabilities grew by 43.4%, to UAH 10.898 billion, its net worth increased by 32.1%, to UAH 1.136 billion. Charter capital remained at the level of UAH 3.103 billion.
Universal Bank is part of TAS Group of businessman Sergiy Tigipko, which was founded in 1998 and has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals and venture projects.

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PROCREDIT BANK SEES 2.6% UP IN NET PROFIT

The net profit of ProCredit Bank (Kyiv) through January-June 2019 amounted to UAH 320.998 million, which is 2.6% more than in the same period of 2018 (UAH 312.901 million).
According to the bank’s quarter report posted on its website, its net interest income in the first half of the year increased by 14.6% compared to the corresponding period of 2018, to UAH 606.106 million.
The bank’s assets for the six months increased by 2.3%, to UAH 21.479 billion, loans and customers’ debts by 2.2%, to UAH 16.893 billion.
The liabilities of the bank for this period rose by 0.9%, to UAH 18.175 billion, net worth decreased by 10.8%, to UAH 3.305 billion.
The charter capital in the first half of 2019 remained at the level of UAH 1.424 billion.
ProCredit Bank (formerly Microfinancial Bank) was founded in 2001. Its only shareholder on January 1, 2019 was ProCreditHolding holding 89.3226% of shares.
ProCredit Bank ranked 16th among 77 operating banks in Ukraine as of April 1, 2019 in terms of total assets (UAH 21.663 billion), according to the National Bank of Ukraine.

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MONFARM PHARMACEUTICAL COMPANY SEES NET PROFIT RISE BY 28% IN H1

Monfarm pharmaceutical company (Cherkasy region) in January-June 2019 increased its net profit by 28.64% compared to the same period of 2018, to UAH 8.539 million.
According to the information disclosure system of the National Commission on Securities and the Stock Market, the company’s gross profit in the first half of the year increased by 8.12%, to UAH 30.084 million, and its net income decreased by 0.36%, to UAH 70.495 million.
As reported, Monfarm pharmaceutical company in 2017 reduced its net profit by 9.6% compared with 2017, to UAH 15.321 million.
PJSC Monfarm was established in 1994 through the corporatization and privatization of state enterprise Monastyrysche Pharmaceutical Plant, organized in 1986 on the basis of a distillery, as part of the Kyiv pharmaceutical association Darnitsa. At present, the range of medicines that Monfarm produces includes more than 70 types of drugs from various pharmacotherapeutic groups.
According to the state register, the ultimate beneficiary of the company is Yakiv Kuznetsov.

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MONDELEZ SEES NET PROFIT RISE IN UKRAINE BY 63%

PrJSC Mondelez Ukraine (previously Kraft Foods Ukraine) in 2018 saw its net profit rise by 63%, to UAH 450.6 million.
According to the company’s report, its revenue amounted to UAH 5.9 billion (24% more). Confectionery made up 42% of the revenue, cookies 24%, salty snacks 17%, the rest were cocoa products and snacks.
The share of exports in total sales amounted to 57%.
The company has no long-term liabilities, while its current liabilities for 2018 rose by 33%, to UAH 1.9 billion.
Last year’s retained earnings amounted to UAH 1.4 billion (16% less).
PrJSC Mondelez Ukraine is part of Mondelez International, one of the world’s largest producers of chocolate goods, cookies, candies, and chewing gum.

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STATE-RUN PRIVATBANK SEES 2.7-FOLD RISE IN NET PROFIT IN H1 2019

Net profit of PrivatBank (Kyiv) in January-June 2019 totaled UAH 18.3 billion, which is 2.7 times more than a year ago (UAH 6.9 billion), PrivatBank Board Chairman Petr Krumphanzl has told Interfax-Ukraine.
According to him, net interest income of the bank over the period amounted to UAH 9.8 billion, net commission income reached UAH 8.5 billion.
“One of the significant factors that contributed to the achievement of good financial result is the high efficiency of the bank. This is ensured by significant automation of processes, high efficiency of the regional network, which includes almost 2,000 branches,” the banker said.
As reported, the government of Ukraine on December 18, 2016, referring to the offer of the National Bank of Ukraine (NBU) and former shareholders of PrivatBank, the largest of who at that time were Ihor Kolomoisky and Hennadiy Boholiubov, decided to nationalize this largest Ukrainian financial institution and infused over UAH 155 billion in its capital.
According to the NBU, PrivatBank as of April 1, 2019 was first among 77 banks operating on the market in terms of total assets (UAH 525.698 billion).

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