The auction commission of the State Property Fund (SPF) has set the starting price and conditions for the privatization of 100% of shares in Ukrbud Construction Company, the SPF press service reports.
It is reported that the auction commission chaired by Deputy Head of the SPFU Igor Tymoshenko, taking into account the legal requirements, set the starting price of the sale at UAH 262.646 million.
The conditions for privatization of the state-owned stake in Ukrbud construction company were also developed. In particular, the new owner must maintain the company’s core business, pay off wage and budget debts within 6 months, pay off overdue debts (except for sanctioned creditors), and transfer dividends to the state budget for 2024-2025. For employees, the new owner must provide social guarantees, prevent dismissals within six months, and conclude a new collective bargaining agreement after the current one expires.
In the near future, the Fund will submit the terms of privatization and the starting price of the stake in Ukrbud Construction Company to the government for approval.
Ukrbud Construction Company is engaged in the design of industrial and civil facilities, construction and installation works, training and retraining of workers for the needs of the construction industry.
It includes 10 subsidiaries, including design institutes and training centers.
According to the company’s annual reports, revenue for 2023 amounted to UAH 105.2 million, which is 2.5 times higher than the results for 2022, while the net loss for 2023 amounted to UAH 3 million 53 thousand against a net loss of UAH 3 million 215 thousand in 2022.
The state-owned development company Ukrbud, part of the state-owned development corporation Ukrbud (all located Kyiv), in 2020 reduced its net profit by 31% compared to 2019, to UAH 14.4 million.
According to the company’s annual report in the information disclosure system of the National Securities and Stock Market Commission, its net income decreased by 50.1% and amounted to UAH 62.9 million, gross profit – by 16%, to UAH 26.3 million and operating profit – by 30.1%, to UAH 17.6 million.
Retained earnings of the company increased by 7.5%, to UAH 57.1 million. Current liabilities decreased by 36.2%, to UAH 18.3 million, and there are no long-term liabilities.
In general, the company’s assets last year decreased by 2.2% and amounted to UAH 284.9 million.
The development company Ukrbud was established by the government of Ukraine in 2004. It is part of the state-owned development corporation Ukrbud.
The company is engaged in the design and construction of industrial and civil facilities, as well as training of personnel for the construction industry. Ukrbud includes 11 subsidiaries in Ukraine.
The owner of 100% of the company’s shares, according to the National Securities and Stock Market Commission, as of the fourth quarter of 2020, is the Cabinet of Ministers of Ukraine.
The charter capital of Ukrbud amounted to UAH 193 million as of April 2021.
Ukrbud Development LLC, part of the Ukrbud state-owned construction corporation (Kyiv), has changed the list of founders in the unified public register of legal entities and private entrepreneurs.
According to the register, as of October 7, 2019, the owners of Ukrbud Development LLC are Yevhen Dikin and Vasyl Poliovy with equal shares of 50% in the charter capital.
Oleh Maiboroda remained the head of the enterprise.
According to the public register, Poliovy is a co-owner of Khmilnytsia Zernotrade LLC, which is engaged in providing warehouse services and servicing the Serpen Garden Society cooperative, which main activity is the complex maintenance of facilities.
At the same time, according to the public register, Dikin holds the position of the head of Building Group Plus LLC, specializing in the wholesale trade of timber, construction materials and sanitary equipment.
As reported, former MP Maksym Mykytas has left construction business and is no longer the owner of Ukrbud Development LLC, Maiboroda said in September. He said that the managers of the company would not change, while management will be carried out by the board of directors.
Ukrbud Development LLC was established in 2004 and is engaged in the development and support of Ukrbud state-owned corporation projects.
State-owned public joint-stock company Ukrbud Construction Company, part of the Ukrbud State Construction Corporation (all based in Kyiv), saw a 12.4% rise in net profit in 2017, to UAH 6.8 million. According to a company’s annual report under IFRS, net revenue grew by 46.4%, to UAH 445.2 million, gross profit tripled, to UAH 98.3 million, and operating profit grew six-fold, to UAH 44.1 million.
Undistributed profit grew by 28.8%, to UAH 18.5 million. Current liabilities shrank by 35%, to UAH 256.2 million and the company did not have non-current liabilities. Ukrbud Construction Company was founded by the Ukrainian government in 2004.
