Astarta agroindustrial holding, the largest sugar producer in Ukraine, in January-March 2018 saw an 86% fall in net profit year-over-year, to UAH 124.3 million, the company has said on the website of the Warsaw Stock Exchange (WSE). According to the press release, revenue over the period fell by 28.7%, to UAH 3.04 billion, gross profit – 58.3%, to UAH 623.032 million and operating profit – 86%, to UAH 141.36 million.
There are several reasons for this: markets cyclicality, macroeconomic factors, as well as a high comparison base. “Our view is that results should be regarded in a long-term context, so as not to distract from the bigger picture,” the company said.
In euros net profit fell by 88%, to EUR 3.7 million and revenue fell by 38.8%, to EUR 90.59 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 70%, to EUR 13.47 million as a result of significant contraction of the global and local sugar prices as well as bad weather conditions in the Poltava region contributed to a higher cost in sugar and farming.
At the same time, when one takes a longer-term view, there are several reassuring thoughts. The group is currently moving through the bottom part of the commodities cycle with low debt, a strong balance sheet, constantly increasing operational efficiency, and a healthy combination of local sales and export.
“There were several similar periods in Astarta’s 25-year history, when the challenges made our company stronger and provided for new growth opportunities,” the company said. With strong support from our financial partners – development and international banks, the company continue its investment program to expand storage infrastructure, further streamline farming operations, and become closer to our end-customers.
Public joint-stock company Bashtanka Cheese Factory (Mykolaiv region), a large cheese producers in Ukraine, saw UAH 46.007 million of net profit in 2017, and this is 4.7% more than a year ago.
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, its net revenue last year grew by 27.4%, to UAH 846.92 million.
Gross profit rose by 17.7% in a year, to UAH 165.21 million, and operating profit – by 4.7%, to UAH 74.06 million.
Hard cheese sales in money terms grew by 28.4%, to UAH 427.9 million, and slightly rose in kind, to 4,360 tonnes.
Bashtanka Cheese Factory is part of the Milk Alliance created in June 2006 as a holding company with the charter capital of UAH 23.5 million and a balance sheet, 99.9% of which consists of long-term financial investments.
Lavina Mall LLC (Kyiv), the owner of Lavina Mall in Kyiv, posted UAH 119.9 million of net profit in January-March 2018 compared with net loss of UAH 114 million year-over-year.
According to a financial report of the company in the information disclosure system of the National Commission for Securities and the Stock Market, net revenue grew 2.6-fold, to UAH 154.9 million.
Gross profit soared 11-fold, reaching UAH 98.4 million, and operating profit – 19-fold, to UAH 154.9 million.
Uncovered loss in Q1 2018 fell by 34%, to UAH 229 million.
Total bills receivable over the period rose by 6.8%, to UAH 546.8 million.
Non-current liabilities increased 5%, to UAH 1.72 billion, and current liabilities decreased 18%, to UAH 820 million.
Lavina Mall was opened early December 2016.
Megaline LLC (Kyiv) was the developer of the mall.
Lavina Mall LLC was founded in 2013. Its core business is leasing and operation of own and leased property.
According to the unified public register of companies, the only participant of Lavina Mall LLC as of April 2018 was Iksoria Business Limited (Nicosia, Cyprus). The ultimate beneficiary is Toms Per Andres (Sweden), while as of Q3 2017 Vagif Aliyev was the ultimate beneficiary.
OTP Bank (Kyiv) in January-March 2018 saw UAH 670.493 million of net profit, which is a 2.3-fold rise year-over-year.
According to a financial report posted on the bank’s website, its net interest income grew by 21%, to UAH 584.507 million, and non-interest income increased 3.24-fold, to UAH 395.402 million, including a rise of 26.8% in net commission income, to UAH 255.924 million.
Operating expenses grew by 8%, to UAH 351.757 million.
The bank’s assets rose by 5.1%, to UAH 30.9 million, including a 6.1% rise in loans issued to clients, to UAH 18.08 billion.
Funds of clients grew by 2.9%, to UAH 26.4 million.
OTP Bank was founded in 1998. Its sole shareholder is Hungary’s OTP Bank Plc. OTP Bank is part of OPT banking group, which also includes OTP Factoring Ukraine LLC, AMC OTP Capital, OTP Leasing LLC, and OTP Credit LLC.
OTP Bank ranked 12th among 84 banks operating in the country on January 1, 2018 by total assets (UAH 29.822 billion), according to the National Bank of Ukraine.
Credit Agricole Bank (Kyiv) in January-March 2018 saw UAH 439.944 million in net profit, which is 43.9% more than a year ago (UAH 305.55 million). According to a quarterly financial report of the bank, net interest income over the period amounted to UAH 532.854 million, which is 16.7% more than year-over-year (UAH 456.707 million).
In addition, the bank saw commission income in the amount of UAH 230.538 million (14.8% up year-over-year).
Assets over the period fell by 2.1%, to UAH 30.303 billion, while the charter capital grew by 10.3%, to UAH 3.601 billion.
The bank said in a press release that the bank’s performance in the first quarter of 2018 was the best in the entire history of its operations.
“Universal banking model allows Credit Agricole Bank to diversify its main sources of revenues and to maintain an excellent financial performance. The bank is in a position to compensate adverse trends that are associated with narrowing of market spreads, and to continue further its positive dynamics in 2018. In Q1 2018, Credit Agricole Bank has posted the highest quarterly net result ever achieved which gives good expectations for the whole year 2018,” Management Board Member, Financial Director of Credit Agricole Bank Regis Lefevre said.
Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2018 owned a 99.9961% stake in PJSC Credit Agricole Bank. Credit Agricole Bank ranked 13th among 84 operating banks in the country on January 1, 2018 by total assets (UAH 33.325 billion), according to the National Bank of Ukraine.
The largest state-owned bank in Ukraine, PrivatBank, saw UAH 3.7 billion of net profit in Q1 2018, which is a 3.3-fold rise year-over-year (UAH 1.108 billion), the bank has said in a press release.
“In the first three months net commission income totaled UAH 3.4 billion… Net interest income came to UAH 3.3 billion. In Q1 2018, the bank earned UAH 6.7 billion of interest income thanks to the expansion of the loan portfolio of individuals by 6% (UAH 2.5 billion) and growth of the portfolio of corporate clients by 18% (UAH 1.1 billion),” the bank said.
As reported, PrivatBank in Ukraine should make profit in 2018 and generate no less than UAH 8 billion of profit starting from 2020, according to the strategy for its development until 2022 approved by the supervisory board of the financial institution.
Nationalized late 2016 PrivatBank in 2017 reduced the consolidated loss to UAH 23.99 billion from UAH 176.64 billion a year earlier.
In total, the bank was capitalized by UAH 155.3 billion through issuance of government bonds.
At the end of June 2017, the Cabinet of Ministers decided to capitalize the bank by another UAH 38.5 billion (almost $1.5 billion) on the basis of the proposals of the NBU and the conclusion of an independent auditor of PrivatBank, EY. The first tranche of UAH 22.5 billion was provided to the bank in July 2017, the second of UAH 16 billion – in December.
