Business news from Ukraine


14 February , 2018  

Smart Maritime Group (SMG) of Smart-holding, uniting Kherson and Mykolaiv shipyards, plans to double consolidated sales revenue in 2018, to UAH 647 million. SMG said on its website, the projected growth of financial indicators of the group in 2018 is based on plans to resume the implementation of ship building contracts at the SMG’s shipyards.
“In 2018, it is planned to increase consolidated revenue in all spheres of SMG’s operations, to UAH 646.8 million, including thanks to the resumption of the implementation of ship building contracts at the shipyards,” the group said.
The press service said that consolidated revenue in 2017 was UAH 317 million, which is 19% less than in 2016. “The decline in revenue is linked to the unstable economic situation and the absence of demand on ship building both on the domestic and foreign markets,” the group said.
The volume of ship repair at the group doubled in 2017 compared with 2016: SMG’s shipyards modernized and repaired 78 ships compared with 46 in 2016, the press service said. Taking into account the plans for the implementation of new contracts, in 2017, the shipyards of the group launched a program for the modernization of production facilities, foreseeing investment of more than UAH 30 million, the group said.
“The funds, in particular, are aimed at construction of a new workshop for the manufacture of offshore metal structures, the renovation of crane equipment, the metalworking line and the repair work of certain sections of the technological chain of metal processing,” the press service said. As reported, in November 2017, SMG and Restis Group, one of the largest transport companies of Greece, signed a memorandum of cooperation in the field of shipbuilding. the parties agreed to study the possibility of building ocean-grade bulk carriers, which will be used for carriage of bulk general cargo, at the production facilities of SMG.