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%.
Private joint-stock company JT International Company Ukraine, a large tobacco company in Ukraine, in 2018 saw UAH 400.3 million in net profit, which is 2.4 times more than in 2017.
According to a company report on holding the annual general meeting of shareholders scheduled for April 26, the retained earnings in 2018 doubled, to UAH 773.6 million.
The current liabilities of JT International Company Ukraine last year decreased 20%, to UAH 2.7 billion, the company has no noncurrent liabilities. Total receivables increased 2%, to UAH 879 million.
According to the draft decision of the meeting, the company intends to send profits to the development of the enterprise and the financing of its activities, payment of dividends is not planned.
The company also intends to obtain permission from shareholders to purchase tobacco products in 2019 from JT International Ukraine PJSC (the factory belongs to this company) for UAH 18 billion. In addition, the company wants to agree on the conclusion of supply contracts for the sale of tobacco products for UAH 21 billion in 2019.
JT International Company Ukraine is part of Japan Tobacco Inc. (JTI).
In Ukraine, it owns Kremenchuk tobacco factory (Poltava region).
The net profit of private joint-stock company AVK confectionary factory (Dnipro), the large confectionary producer in Ukraine, fell to UAH 42,000 in 2018 from UAH 330,000 in 2017.
According to a company’s announcement in the information disclosure system of the National Commission for Securities and the Stock Market on holding the general meeting of shareholders on April 26, its assets last year fell by 1.2%, to UAH 565.72 million.
The retained earnings grew by 6.1%, to UAH 110.97 million.
Current liabilities fell by 2.3%, to UAH 311.38 million, and total receivables decreased 6.25, to UAH 307.34 million.
The company plans to send its net profit for 2018 to replenish working capital to cover losses for the previous periods.
AVK group of companies was founded in 1991. Now it produces goods at a confectionery factory in Dnipro. It also owned factories in Donetsk and Luhansk, control over which was lost.
Private joint-stock company Philip Morris Ukraine, a large tobacco company in Ukraine, saw a 3.4-fold rise in net profit in 2018 compared with 2017, to UAH 2.147 billion.
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market on holding the general meeting of shareholders on April 26, its assets last year grew by 5.7%, to UAH 10.51 billion.
The retained earnings soared eightfold, to UAH 2.374 billion. Total receivables grew by 10.4%, to UAH 7.475 billion.
The company plans to leave profit for 2018 in the company until the shareholders made a decision to pay dividends.
As reported, Philip Morris International Inc. cut shipments of cigarettes in Ukraine by 8.8% in 2018.
Philip Morris International is one of the world’s largest manufacturers of tobacco products. It produces cigarettes in more than 50 factories, sells them in 180 countries.
In Ukraine, it has been working for more than 20 years. Its production facilities are based in Kharkiv region.
Eurocar (Solomonove, Zakarpattia region), manufacturing Skoda passenger cars, part of Atoll Holding Group, tentatively saw UAH 182 million in net profit in 2018, which is 2.6 times more than in 2017.
According to the information attached to the agenda of the general meeting of shareholders scheduled for April 25, its uncovered loss as of early 2019 totaled UAH 1.11 billion (UAH 734.24 million in 2017).
According to the draft decision of the shareholders, it is planned to send net profit for 2018 to cover losses of the previous years.
In 2018, Eurocar saw a 7.3% rise in current liabilities, to UAH 372.93 million, while noncurrent liabilities slightly grew to UAH 1.625 billion.
Total receivables as of January 1, 2019 accounted for UAH 426.61 million, falling by 22.4%, and its assets grew by 50.2%, to UAH 2.303 billion.
Net worth as of early 2019 was UAH 304.42 million, while a year ago it was negative – UAH 429.438 million. The charter capital did not change, being UAH 234.48 million.
Eurocar has been manufacturing passenger cars since December 2001.
The net profit of private joint-stock company Artwinery (Donetsk region, formerly Artemovsk Winery) fell by 26% in 2018 compared with 2017, to UAH 49.39 million.
According to a company report on holding the annual general meeting of shareholders on April 24, its assets last year rose by 15.4%, to UAH 729.23 million.
Current liabilities grew by 27.2%, to UAH 365.41 million, total receivables – by 1.5 times, to UAH 221.33 million.
The company plans to approve the payment of dividends from the retained earnings for 2017 in the amount of UAH 60.13 million. Dividends will be paid in the period before October 22, 2019.
Artwinery is the largest Eastern European manufacturer of sparkling wines using classical champagne method. The plant’s capacity is 25 million bottles per year. Its trademarks are Krim, Artyomovskoye, Krimart, Charte, and Soloking. The company exports products to more than 20 countries.
The company said that its share of the Ukrainian sparkling wine market in 2017 totaled 20.6%.
