The Solway Investment Group international investment group, owning Pobuzhsky Ferronickel Plant (PFP, Kirovohrad region), at the end of 2020, maintained its consolidated revenue at the level of 2019, $624.2 million.
According to the company’s report, its EBITDA was $167 million with a margin of 26.7% in 2020, the cost of production decreased by 6.3% yea year-over-year, to $438.9 million.
“Solway has a cash balance in excess of financial debt, and, as a result, the ratio of net debt to EBITDA at the end of 2020 is below zero,” the company said in a press release.
At the same time, it is noted: despite the problems due to the pandemic, the work of Solway remains stable and safe. They managed to prevent the closure of enterprises and avoid social and economic consequences in the regions of their activity. Continuous operation was maintained and some plants even exceeded production targets.
According to the statement, the group’s actions were based on two key priorities, protecting the health and safety of employees and local communities, and laying the foundations for sustainable development and long-term economic recovery.
Solway’s strategic vision creates circular economic returns and prioritizes long-term growth over short-term profits.
“We strive to reduce the impact of our production on the environment, to comprehensively assess its impact when planning investment projects. We effectively use natural resources, raw materials and energy locally,” the company said in the press release.
In 2020, Solway has been actively pursuing the issue of reducing its carbon footprint. One of the main assets of the group, PFP, has been implementing a project to rehabilitate gas processing plants for several years in order to reduce emissions by 99.9%. The advanced stage of the project was reached in 2020.
Ukraine in January-June 2021 reduced its revenue from electricity exports by 40.9% (by $74.921 million) compared to the same period in 2020, to $108.238 million, according to data from the State Customs Service.
According to the calculations of the Interfax-Ukraine agency, in the six months, electricity was supplied to Hungary for $50.714 million, Poland – for $31.217 million, Romania – for $14.446 million, other countries – for $11.861 million.
In particular, in June 2021, electricity was exported for $30.263 million against $5.96 million in June 2020.
In addition, during this period Ukraine imported electricity for $58.598 million against $109.004 million in the same period last year, in particular from Belarus – for $24.691 million, Slovakia – for $22.25 million, Russia – for $5.186 million, other countries – for $6.471 million.
KPMG has announced a reduction in revenues in Ukraine in the 2020 financial year to UAH 552 million compared to UAH 561 million in 2019.
“For a year of economic and social turbulence, KPMG International announced the total annual income of KPMG firms in the amount of $ 29.22 billion for the fiscal year that ended on September 30, 2020 against $ 29.75 billion in 2019. In Ukraine, KPMG’s revenues for the 2020 fiscal year were UAH 552 million against UAH 561 million in 2019,” the company said in a release on its website.
“This applies to the business of our clients, as well as all our services in the field of audit and activities in the field of taxation and consulting. We introduce innovations and work closely with our strategic alliances to help clients transform their business into a digital format,” the press service said citing Andriy Tsymbal, the managing partner of KPMG in Ukraine.
Interpipe, an international vertically integrated pipe and wheel company, based on the results of activities in the second quarter of this year is expected to reduce revenue by 16% compared to the previous quarter, to $ 212 million, EBITDA by 44%, to about $ 48 million.
“We expect Interpipe’s Q2, 2020 EBITDA to amount to about $ 48 million, a 44% quarter-over-quarter plunge. Contributions to Q2, 2020 EBITDA by segment (before reallocation of steel segment EBITDA) are expected to be as follows: negative $ 5 million from pipes (flat quarter-over-quarter), $ 38 million from railway products (a 45% plunge quarter-over-quarter), and $ 15 million from steel (26% less quarter-over-quarter),” according to the estimate of Dmytro Khoroshun, an analyst from Concorde Capital, published in the investment company’s bulletin.
“Revenue from seamless pipe sales should have inched up 3% quarter-over-quarter, to about $ 104 million in Q2, 2020, driven by a 6% increase in sales volumes to 103,000 tonnes, offset by a 3% drop in average sales price to $ 1,015/tonne,” the report says.
“We estimate revenue from welded pipe sales will jump 49% quarter-over-quarter in Q2, 2020, to $ 16 million, due to a 43% gain in volume to 22,000 tonnes and a 4% rise in price to $ 746/tonne,” according to the document.
“We calculate Interpipe’s railway product segment revenue will plunge 34% quarter-over-quarter, to $ 84 million in 2Q20, as a 20% drop in sales volume to 46,000 tonnes will be exacerbated by a 17% drop in price to $ 1,822/tonne,” the expert said.
Export proceeds from the supply of oilseeds from Ukraine in the 2019/2020 marketing year (MY, September-August) increased by 10% and amounted to $ 7.32 billion, CEO of UkrAgroConsult Serhiy Feofilov has said.
“The economy of Ukraine from export of oilseeds in September-August received more than $ 7.3 billion, which is 10% more compared to the previous season. We see an 11% increase in sunflower oil (in terms of export earnings),” he said during the international conference Black Sea Grain & Oil Trade 2020 in Kyiv.
So, according to him, last season Ukraine exported sunflower oil for $ 4.95 billion (6.8 million tonnes against 6.06 million tonnes in the 2018/2019 MY).
The director general of UkrAgroConsult also said that export of grains in the first two months of the season (July-August) is practically at the level of the previous season.
“This shows that despite the consequences of the coronavirus crisis, export continues and develops,” he said.
The revenue of Metinvest B.V. (the Netherlands), the parent company of Metinvest mining and smelting group, in February 2020 increased by 4.8%, or $39 million, compared to the previous month, to $860 million from $821 million.
According to the company’s preliminary unaudited consolidated monthly financial statements, EBITDA for February totaled $129 million, which is $56 million more than in January ($73 million), while EBITDA from participation in the joint venture was $10 million (in January $7 million).
According to the report, the adjusted EBITDA of the group’s metallurgical division for February 2020 amounted to $46 million (in January $12 million), including minus $10 million from participation in the joint venture (minus $8 million), the EBITDA of the mining division is $102 million (in January $75 million), including $20 million ($15 million) from the joint venture. The management company’s expenses amounted to $7 million ($6 million).
Total revenue in February consisted of $682 million in sales of the metal division ($681 million in January), mining $248 million ($234 million), and intra-group sales of $70 million ($94 million).
The total debt of the company in February increased by $65 million compared with January, to $3.092 billion from $3.027 billion. At the same time, cash flow decreased by $38 million, to $253 million from $291 million.
The funds used in investment activities amounted to $74 million, in financing activities $71 million.
