Business news from Ukraine


12 December , 2019  

Enterprises managed by the State Space Agency of Ukraine (SSAU) in January-September 2019 manufactured products worth over UAH 3.046 billion and sold products UAH 3 billion and almost UAH 370 million of net profit was earned, the press service of the agency has reported.
According to the information presented at the meeting of the Collegium of the SSAU, in January-September 2019, two Antares launch vehicles (LV) were launched (a joint project with the United States), two launches of Vega LV were made (a joint project with the EU), and a control system was delivered to support manned space flight missions to the Soyuz LV. The first stage of the Antares LV, which will be launched in the first quarter of 2020, was sent to the spaceport in the United States.
“Over the first nine months of this year, industry enterprises manufactured products worth more than UAH 3.046 million, sold products worth more than UAH 3 billion. Production volumes increased by 9.3%,” the SSAU said in the press release issued after the meeting.
In particular, state-owned enterprise (SOE) Pivdenne (Yuzhnoye) Design Bureau increased the volume of commodity production by 19.4%, SOE Arsenal plant by 29%, State Enterprise of Special Engineering Arsenal by 204.9%, and SOE Kyivprylad production association by 88.9%.
“Products worth UAH 2.43 billion were exported (20% more than in the corresponding period of 2018). The share of product exports of total sales is 78.8%. Import volumes amounted to 3.1% of exports. That is, the industry remains export-oriented. In January-September 2019, the enterprises received net profit of UAH 369.68 million. Their profitability was 12%. The nominal average monthly wage in the industry increased by 5.8% compared to the beginning of the year and amounted to UAH 9,296,” the SSAU said.
According to the press release, speaking to the participants of the meeting, acting SSAU Head Volodymyr Mikheev said that “in the third quarter, the industry worked in extreme conditions.”
“First of all, due to minimal financing, the lack of government procurement order for the production of space technology, the space program for 2020 that has not been approved so far. However, thanks to its powerful engineering and production potential and skillful marketing, the industry worked profitably using the production opportunities of non-space sphere,” the agency’s press service said, quoting Mikheev as saying.
“After discussing the issues on the agenda, the Collegium adopted a decision aimed at further improving the industry and successfully completing the tasks of 2019,” the press service said.