Ilta, the official dealer of Peugeot, Citroёn, DS and Jeep in Kyiv and Kyiv region, earned UAH 34.84 million in net profit in January-September this year, compared to a loss of UAH 36.67 million in the same period in 2022.
According to the company’s interim financial statements published in the NSSMC disclosure system, its net income increased by 83% to UAH 471.55 million.
The company’s profit from operating activities increased 3.8 times to UAH 56.52 million, and gross profit by 66% to UAH 86.35 million.
Ilta has been operating in Ukraine since 1991. It is the official dealer in Kyiv and Kyiv region of Stellantis car brands – Peugeot, Citroёn, DS, and since 2023 – Jeep.
The company provides a full range of operational leasing services for cars and commercial vehicles, customer car administration services, sales of new and used cars, maintenance, and also rents office space in its own business center.
According to the company’s annual report, in 2022, it suffered a loss of almost UAH 34 million, up 60.6% year-on-year, with net income more than halving to UAH 339 million.
The profit of the state-owned Ukrgasbank (Kyiv) in January-November 2023 amounted to UAH 4.08 billion, while the state-owned bank ended the same period last year with a net loss of UAH 3.75 billion, the financial institution reported on Tuesday.
It was specified that the bank’s operating profit for January-November this year before deductions to reserves and taxation amounted to UAH 4.3 billion.
According to the release, Ukrgasbank’s assets have increased by UAH 35 billion since the beginning of the year and reached UAH 166.7 billion as of November 2023, while the portfolio of attracted customer funds has increased by UAH 29.9 billion since January and amounted to UAH 142.7 billion.
It was specified that the portfolio of corporate business funds increased the most significantly – by UAH 26.2 billion to UAH 85.5 billion, in particular, from small and medium-sized businesses (SMEs) – by UAH 4 billion to UAH 25.4 billion.
The bank added that the portfolio of term deposits of retail business clients in hryvnia amounted to UAH 9.8 billion at the end of November, having increased by UAH 3.5 billion since the beginning of the year.
According to the National Bank of Ukraine, as of October 1, 2023, Ukrgasbank ranked 5th in terms of total assets (UAH 166.44 billion) among 63 banks in the country.
The net profit of solvent banks in January-November 2023 reached UAH 130.55 billion, while in the same period of 2022 this figure was 6.7 times lower and amounted to only UAH 19.43 billion, according to the National Bank of Ukraine (NBU).
According to the data, in November, net profit decreased to UAH 7.85 billion from UAH 12.85 billion in October, and was lower this year only in January, while banks also finished November last year with the best result of UAH 8.45 billion.
The decline in profits compared to previous months is explained, in particular, by an increase in provisioning last month to UAH 3.75 billion, which is a record high for this year, while in the previous two months, provisions were even dissolved in the amount of up to UAH 1 billion.
According to the NBU, total revenues of financial institutions over 11 months increased by 25.7% year-on-year, with net interest income increasing by 34.5% to UAH 182.22 billion, while net fee and commission income increased by 2.5% to UAH 45.6 billion.
In the first 10 months of the year, the growth rate was higher: total income increased by 27.3%, net interest income increased by 36.5% to UAH 164.24 billion, and net fee and commission income increased by 3.8% to UAH 41.4 billion.
This is due to the fact that in November of this year, compared to November last year, the growth of total bank revenues slowed to 12.3%, or UAH 39.47 billion, including net interest income, which increased by 18.3% to UAH 17.98 billion, while net fee and commission income even decreased by 8.6% to UAH 4.23 billion.
The share of interest income in the total structure of banks in November remained at the level of October – 68.1%, while in November last year it was at the level of 60.2%.
The share of fees and commissions remained unchanged at 21.7% last month, while a year ago it was higher at 23.7%.
The share of proceeds from foreign exchange transactions increased by 0.1 percentage points in November to 7.1%, while in the same period last year it reached 13.1%.
It is noted that banks paid UAH 26.17 billion in income tax for 11 months of this year, including UAH 4.13 billion in November.
As reported, the Rada has increased the corporate income tax on banks from 18% to 50% in 2023 and to 25% in subsequent years.
JSC Slovianski Shpalery-KFTB (formerly the Koriukiv technical paper factory, Chernihiv region), a leading Ukrainian wallpaper manufacturer, completed January-September 2023 with a net profit of UAH 37.44 million, which is 4.3 times more than for the same period in 2022. According to the company’s financial statements released on Friday in the information disclosure system of the National Commission for Securities and Stock Market, net income increased by 55.3%m to UAH 1 billion.
The company received UAH 49.48 million in profit from operating activities (4 times more), gross profit increased by 61.5%, to UAH 201.66 million.
According to the plant’s report for the first half of 2023 published on Friday, a net profit amounted to UAH 19.18 million versus a loss of UAH 3.61 million for the same period in 2022, with net income growing by 69.3% to UAH 616 million.
Thus, in the third quarter the company increased net profit by 51.3%, to UAH 18.26 million, net income by 37.7%, to UAH 398.41 million.
As reported with reference to data from the Ukrpapir association, in January-September of this year the factory increased wallpaper production by 23%, to 12.387 million conventional pieces.
“Ukrzaliznytsia (UZ) plans to make a net profit of UAH 7 billion in 2023 after a net loss of UAH 9.6 billion in 2022, acting CEO Yevhen Lyashchenko said at the final meeting of the Ministry of Community Development, Territories and Infrastructure’s team with diplomatic missions and the public in Kyiv on Tuesday.
According to him, in 2023, UZ will receive a record revenue of UAH 99.6 billion over the past five years, UAH 82.1 billion of which will be accounted for by freight transportation, UAH 8.4 billion by passenger transportation, and UAH 9.1 billion by other revenues.
According to the data provided by him, in 2022, UZ’s revenues fell to UAH 75.7 billion from UAH 86 billion in 2021 and UAH 90.4 billion in 2019.
In particular, revenues from freight transportation last year decreased to UAH 63 billion from UAH 72.3 billion a year earlier, passenger transportation – to UAH 5.9 billion from UAH 6.2 billion, and other revenues – to UAH 6.8 billion from UAH 7.5 billion.
Lyashchenko noted that the implementation of measures to optimize operations helped UZ to reach profit in 2023, and 70% of operational purchases by value are already made under direct contracts with manufacturers.
According to the CEO, in particular, since March 2023, UZ has saved more than UAH 1 billion on diesel fuel purchases by adjusting fuel standards and procurement practices.
Ovostar Union, one of the leading producers of eggs and egg products in Ukraine, earned $29.08 million in net profit in 9M2023, up 12.2 times year-on-year (y-o-y).
According to the group’s report on the Warsaw Stock Exchange, its revenue for the first nine months increased by 36.3% to $123.06 million, mainly due to higher prices for its products.
Gross profit for January-September this year increased by almost 2.8 times to $42.64 million, operating profit – by 8.2 times to $29.65 million.
It is noted that such an increase in profitability was also achieved by reducing the cost of sales from $66.16 million to $57.40 million due to good feed prices and the devaluation of the hryvnia.
The stability of national currencies also led to Ovostar’s total profit of $29.08 million in the first 9 months of this year, compared to a total loss of $25.16 million in the same period last year, when the hryvnia exchange rate fell.
The group also reported that its debt on bank loans since the beginning of the year has decreased from $10.93 million to $2.46 million, and is currently represented by a UAH 90 million loan from Credit Agricole Bank under the state program at a rate of 13.05% per annum with maturity at the end of March 2024, while the company has fully repaid its obligations to Ukrsibbank and OTP Bank.
Ovostar’s free cash flow jumped to $58.44 million from $12.17 million at the beginning of the year and $5.92 million a year earlier, including the equivalent of $19.77 million in hryvnia from $0.90 million, and $33.89 million in Latvia from $4.76 million.
According to the report, the share of egg sales in revenue slightly decreased to 69.0% from 69.5% in 9M2017, while the share of egg products increased from 30.5% to 31%. At the same time, the share of egg exports in total revenue increased from 34.9% to 45.5%, and the share of egg products exports increased from 56.6% to 60.3%.
As a result, Ovostar’s total export revenue for January-September this year reached 50% of total revenue, compared to 41.5% a year earlier.
The company, which had previously announced the suspension of its investment program amid the ongoing Russian military invasion of Ukraine and the overall unfavorable situation in the national economy, invested $8.88 million in 9M2017 against $5.42 million in 9M2016, with the lion’s share of all investments again in biological assets.
In mid-June 2011, the group’s holding company, Ovostar Union N.V., conducted an IPO of 25% of its shares on the WSE and raised $33.2 million. The majority stake of 67.93% is owned by Prime One Capital Limited, which is controlled by its CEO Boris Belikov and Chairman of the Board of Directors Vitaliy Veresenko.
In January-September of this year, Fairfax Financial Holdings Limited significantly increased its stake in Ovostar from 9.09% to 27.51% by withdrawing from the shareholders’ list Generali Otwarty Fundusz Emerytalny (10.93%) and AVIVA Otwarty Fundusz Emerytalny (5.02%).
As reported, Ovostar earned $6.09 million in net profit in 2022, which is 3.7 times more than in 2021. At the same time, revenue increased by 1.7% to $135.63 mln.
In the first half of 2023, the company earned $20.63 million in net profit, while the same period in 2022 ended with a net loss of $19.78 million. Its revenue for the six months increased by 56.8% to $88.69 million.
