The state-owned enterprise (SOE) Ukrainian Sea Port Authority seeks to post UAH 3.3 billion of net profit in 2018, UAH 8.3 billion of revenue and UAH 4.5 billion to pay taxes and duties to the national budget, Head of the Ukrainian Sea Port Authority Raivis Veckagans has said.
“We are planning a slight increase in freight traffic, but there is a decision of the Cabinet of Ministers to reduce port dues by 20% and, accordingly, to cut dividend payments from 75% to 50%, which will affect the financial plan. As for capital investment, which is planned in the amount of about UAH 4.3 billion, we will get a little extra resource, which we will send to its implementation,” he told Interfax-Ukraine.
According to the head of the authority, funds that were announced for capital investment in 2017, but not used, will be used to implement projects planned for this year.
In addition, Veckagans said that, according to data for 2017, revenue of the authority amounted to UAH 8.3 billion, profit – UAH 3.5 billion, and it paid UAH 4.8 billion to the state budget, including all taxes and duties.
“We have disbursed UAH 1.6 billion of capital investments, which is almost three times more than in 2016. This is less than it was planned: in the general plan we had UAH 3.9 billion, but since we adopted it in the middle of the year, we did not have time to implement it. Therefore, we are pleased with the decision of the Cabinet of Ministers that the financial plan for 2018 was approved as early as December 2017. I hope that we will be able to implement all plans and implement the projects this year,” Veckagans said.