Business news from Ukraine

Business news from Ukraine

ASKA-LIFE INSURER SEES NET PROFIT RISE BY 28%

PrJSC ASKA-Life insurance company (Kyiv) in 2018 saw a net profit of UAH 11.6 million, which is 27.7% more than in 2017.
According to official information for the agenda of a meeting of shareholders scheduled for April 23, the insurer’s retained earnings amounted to UAH 52.204 million, which is 28.6% more than a year earlier.
The company’s assets last year increased slightly, to UAH 188.7 million.
Net worth grew by 10.3%, to UAH 77.1 million. At the same time, charter capital remained at the level of UAH 19.385 million.
Cash and cash equivalents increased by 3.2%, to UAH 57.8 million.
Debtor indebtedness decreased by 15.6%, to UAH 28.154 million.
Long-term liabilities decreased by 20.4%, to UAH 88.822 million, current liabilities increased by 3.6 times, to UAH 23.262 million.
ASKA-Life insurer, registered in 2003, specializes in life insurance.

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UNIQA LIFE INCREASES NET PROFIT BY 52.6% IN UKRAINE

UNIQA Life insurance company (Kyiv) in 2018 saw its net profit rise by 52.6% compared with 2017, to UAH 40.554 million, according to materials for the agenda of a general meeting of shareholders scheduled for April 25.
In addition, the company last year increased its assets by 10.6%, to UAH 1.189 billion. The insurer’s net worth rose by 3.8%, to UAH 415.8 million, charter capital remained at the level of 2017, at UAH 100.09 million.
Total debtor indebtedness decreased by 36.9%, to UAH 39.4 million. Cash and cash equivalents rose by 3.5 times, to UAH 39.320 million.
Long-term liabilities increased by 15% and amounted to UAH 715.1 million, current liabilities were up by 10.4%, to UAH 58.483 million.
UNIQA Life insurance company, established in July 2006, is a subsidiary of UNIQA Group, one of the leading insurance concerns of Central and Eastern Europe.

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KYIVSTAR HAS 10% RISE IN PROFIT IN 2018

The leading Ukrainian mobile communications operator Kyivstar (Kyiv) in 2018 saw UAH 6.802 billion in net profit, which is 10.3% more than in 2017, according to a company announcement on holding the annual general meeting of shareholders scheduled for April 22, 2019.
According to the report, the retained earnings of the company at the end of the year totaled UAH 15.778 billion compared with UAH 16.217 billion a year ago.
“To determine that the accumulated retained earnings of the company as of the end of 2018 are retained earnings that are subject to further distribution in the form of dividends (annual or interim) or any other use as decided by the general meeting of shareholders of the company,” the company said in a draft decision of the meeting.
In accordance with the announcement, at the end of 2018, Kyivstar had UAH 5.2 billion of free cash.
Its noncurrent liabilities for the year increased slightly, to UAH 0.34 billion, while the current liabilities by 80.3%, to UAH 7.78 billion, and the total receivables decreased 23.8%, to UAH 1.03 billion.
In 2018, the company increased its fixed assets by 13.5%, to UAH 8.11 billion, and its total assets increased by 14.1%, to UAH 24.81 billion.
Kyivstar is a Ukrainian mobile communications operator. VEON international group (earlier VimpelCom) is the shareholder in Kyivstar. The group’s shares are listed on NASDAQ (New York).

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CARLSBERG UKRAINE SEES NET PROFIT RISE BY 1.5 TIMES IN 2018

PrJSC Carlsberg Ukraine (Zaporizhia), one of the largest brewing companies in Ukraine, in 2018 increased its net profit by 1.5 times compared with 2017, to UAH 1.634 billion.
According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, its assets amounted to UAH 4.757 billion (6.3% less), retained earnings some UAH 1.643 billion (11% less). The total debtor indebtedness amounted to UAH 648.3 million (20% more), current liabilities some UAH 1.585 billion (5.5% less). The company has no long-term liabilities.
The company plans to pay UAH 1.329 billion in dividends for 2018, the payment term is until October 24, 2019. The rest of the profit will remain at the disposal of Carlsberg Ukraine.
Carlsberg Ukraine is part of Carlsberg Group, one of the leading brewing groups in the world, whose products are sold in more than 150 countries.

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BOGDAN MOTORS POSTS NET PROFIT OF UAH 25.8 MLN IN 2018

Bogdan Motors automobile company, which unites the production assets of Bogdan Corporation, in 2018, according to preliminary data, received a net profit of UAH 25.83 million, while a year earlier its loss was UAH 957.19 million.
According to the agenda of a general meeting of shareholders scheduled for April 22, the uncovered loss of Bogdan Motors amounted to UAH 6.418 billion by the beginning of the current year.
According to the draft decision of the meeting, it is planned to keep profit undistributed and not to pay dividends.
The current liabilities of the company over the past year increased by almost 11.4%, to UAH 7.914 billion, while it had no long-term liabilities.
The total debtor indebtedness last year rose by 43.7%, to UAH 825.898 million, assets as a whole increased by 31%, to UAH 2.593 billion.
By January 1, 2019, the net worth of Bogdan Motors amounted to ‘minus’ UAH 5.231 billion, charter capital to UAH 1.101 billion.

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VIOLA PHARMACEUTICAL FACTORY MORE THAN DOUBLES NET PROFIT IN 2018

PJSC Viola pharmaceutical factory (Zaporizhia) received UAH 29.381 million in net profit in 2018, which is 147.7% more than in 2017 (UAH 11.863 million).
According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, the company’s assets in 2018 increased by 24%, to UAH 150.892 million.
Viola pharmaceutical factory was established in 1944. It produces medicinal plant raw materials in packs and filter bags, herbal teas, spirit tinctures, extracts, syrups, oils and oil solutions, alcohol solutions, aqueous solutions, ointments, gels, medical powders, and other products.
The ultimate beneficiary of the plant is Vitaliy Sofiychenko.

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