Business news from Ukraine


The Cabinet of Ministers of Ukraine has approved a financial plan of state-owned enterprise (SOE) Boryspil International Airport (Kyiv), the largest airport of the country, for 2018 with the projected net profit of UAH 1.388 billion. This is outlined in a government resolution passed at a meeting on April 11, 2018, a copy of which is available to Interfax-Ukraine.
According to the document, net revenue in 2018 is planned in the amount of UAH 3.93 billion, gross profit – UAH 2.156 billion, earnings before interest, taxes, depreciation and amortization (EBITDA) – UAH 2.473 billion, and EBITDA margin – 69.9%.
Pretax profit could be UAH 1.695 billion, payments to the state – UAH 1.923 billion and capital investment – UAH 2.263 billion.
Boryspil International Airport is the main airport of Ukraine. The airport has two runways: one with a length of 4,000 meters and a width of 60 meters, and the second with a length of 3,500 meters and a width of 63 meters. Four passenger terminals, postal and cargo complexes are located on the territory of the airport.

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Ukraine and India are working out plans to expand military and technical cooperation in the field of military shipbuilding and are considering the possibility of organizing joint production of power equipment for ships of the Indian Navy, the press service of the Ukroboronprom State Concern has reported. According to the report, the promising directions of the expansion of Ukrainian-Indian military and technical cooperation in the field of military shipbuilding were discussed during negotiations between Ukroboronprom Head Pavlo Bukin and Chief of the Naval Staff of the Indian Navy, Admiral Sunil Lanba, as part of the tenth international defense exhibition Def Expo 2018, which is taking place in the city of Chennai (India) on April 11-14.
“The sides discussed the further participation of the Ukrainian defense industry’s enterprises in the modernization and development of the Indian Navy. In particular, they spoke about continuing supplies and establishing joint production of gas turbine engines, and the servicing by Ukrainian specialists of the Vikramaditya aircraft carrier, which was built by the shipbuilders of the Mykolaiv shipyard,” the report says.
It notes that during the talks Bukin also voiced the interest of the Ukrainian side in the joint production of ship and coastal radar systems, sea buoys, as well as the supply of spare parts for Indian ships and submarines.
“The commander of the Indian Navy expressed support and interest in cooperation with Ukrainian enterprises on a number of existing projects,” the press service said.

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The Board of Directors of Myronivsky Hliboproduct (MHP), the largest poultry producer in Ukraine, has approved the payment of interim dividends in the amount of $0.7492 per share, which is equal to $80 million. According to a company report on the London Stock Exchange (LSE) on Thursday, the decision was made after having carefully considered the performance of the company during the financial year 2017 and two months period ended February 28, 2018.
MHP said that the interim dividend will be paid on April 26, 2018 to the company’s shareholders whose name is entered in its register of members as of April 20, 2018. The Board of Directors approved that no dividend will be paid on the company’s shares held in treasury.
The Board of Directors of MHP SE also acknowledged the consent of WTI Trading Limited (the Company’s major shareholder) to be paid later than the dividend payment date (but not later than November 01, 2018) with no interest accrued on the amount of dividend paid later.
As reported, MHP increased its net profit 3.3-fold in 2017 compared to 2016, to $230 million with revenue growth of 13.4% to $1.288 billion.



The number of credit unions in the state register of financial institutions of Ukraine decreased by 18.2%, or 84 institutions, in 2017 year-over-year, to 378, according to the website of the National Commission for State Regulation of Financial Services Markets. According to the regulator, the largest number of credit unions was registered in Kyiv and the Kyiv region (39, or 10.3% of the total number), Luhansk region (33, or 9%), Donetsk region (29, or 7.7%), and Kharkiv region (24, or 6.3%).
According to the regulator, last year, the number of participants in credit unions shrank by 12.3%, to 564,100, the number of participants with current loan agreements by 9.6%, to 134,300, while the number of members with contributions on deposit accounts by 47.2%, to 21,700.
The leaders in terms of the number of participants in credit unions are Lviv region (75,900), Kyiv and the Kyiv region (52,800), Ivano-Frankivsk region (54,700) and Zakarpattia region (46,100). At the same time, as before, most credit unions (155, or 55.8%) are united by a small number of participants – up to 1,000, and more than a third of credit unions (111, or 39.9%) are united by 1,000 to 10,000 participants.
The total volume of loans granted to members of credit unions as of December 31, 2017 reached UAH 1.902 billion (up 5.7%), whereas contributions of members of credit unions on deposit accounts amounted to UAH 937 million (up 12.6%). The total amount of debt on loans is UAH 345.8 million (down 6.2%).


Ukraine and Germany have reached an agreement on holding a bilateral business forum in Ukraine in the near future, Ukrainian President Petro Poroshenko has said. “We’ve reached an agreement during the meeting with Federal Chancellor of Germany Angela Merkel and German Foreign Minister Heiko Maas on a strong German governmental delegation, which should visit Ukraine in the near future, to hold a powerful business forum,” Poroshenko said at a joint briefing with German Chancellor Angela Merkel in Berlin on Friday. The president also specified that Germany is one of the leaders in investing in Ukraine.
“Both the Chancellor and I are satisfied with the growth rates of mutual trade, which has increased by more than 20%,” Poroshenko added.



Ukraine in January-March 2018 exported 169,941 tonnes of nitrogen mineral or chemical fertilizers for $34.238 million, while imported 558,292 tonnes worth $117.265 million. According to the State Fiscal Service, nitrogen fertilizers exports to Turkey amounted to $14.846 million, Mexico to $7.085 million, Romania to $3.983 million, and other countries to $8.325 million. Nitrogen fertilizers in the first quarter of the year were imported from the Russian Federation for $21.929 million, Uzbekistan for $21.929 million, Lithuania for $15.372 million and other countries for $49.1 million.
In addition, Ukraine in January-March of this year exported 1,474 tonnes of ammonia (code 2814) for $433,000, imported 114,906 tonnes for $41.965 million. All the ammonia was imported from the Russian Federation.
As reported, in 2011, Ukraine exported nitrogen fertilizers for $1.69 billion, and imported – for $153.347 million, in 2012 – for $1.695 billion and $163.234 million, in 2013 – for $1.134 billion and $211.822 million, in 2014 – for $647.623 million and $175.747 million, in 2015 – for $521.552 million and $212.931 million, in 2016 – for $321.614 million and $216.095 million, in 2017 – for $ 125.427 million and $337.346 million.
In 2011, Ukraine exported ammonia for $594.942 million, and imported – by $0.006 million, in 2012 – for $640.281 million and $0.026 million, in 2013 – for $628.606 million and $40.412 million, in 2014 – for $314.713 million and $43.518 million, in 2015 – for $251.937 million and $28.676 million, in 2016 – for $40.569 million and $51.802 million, in 2017 – $42.969 million and $123.012 million.

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