Business news from Ukraine

OTP Bank will pay UAH 4.8 bln to budgets of all levels in 2023

The total amount of taxes to be paid by OTP Bank in 2023 is UAH 4.8 billion.

The largest part is income tax – UAH 3.7 billion. The amount of military duty for 2023 is UAH 32.6 million. VAT, local taxes, non-resident tax, personal income tax, unified social tax, and unified social tax make up the rest of the total amount of payments by OTP Bank.

We would like to remind you that OTP Bank was ranked third in terms of capital adequacy according to the results of the stability assessment conducted by the National Bank of Ukraine. Thus, according to the asset quality ratio (AQR), the core capital adequacy ratio (N3) of OTP Bank amounted to UAH 7 billion 234 million, or 19.09%, with the required level of 7%.

Regulatory capital (N2) at OTP Bank amounted to UAH 12 billion 315 million. Its adequacy ratio is 32.5% with the required level of 10%.

, ,

“Astarta” paid UAH 2.3 bln in taxes to budgets of all levels

In 2023, Astarta Agro Holding, the largest sugar producer in Ukraine, paid UAH 2.31 billion in taxes and fees to the budgets of all levels, up 42% compared to 2022, the company’s press service reported on Facebook.

According to the report, over UAH 1.31 billion of this amount went to local budgets of territorial communities in Poltava, Khmelnytsky, Vinnytsia, Ternopil, Zhytomyr, Chernihiv, and Kharkiv regions of Ukraine.

“In terms of the entire team of the agro-industrial holding in 2023, Astarta paid UAH 343 thousand of taxes per employee. In total, during the full-scale war alone, our company transferred over UAH 3.84 billion to the budgets of all levels. This is our contribution to strengthening the country’s defense capability, increasing the economic resilience of local communities, enhancing social responsibility and transparency of Ukrainian business,” said Viktor Ivanchuk, founder and CEO of the agricultural holding.

In addition, Astarta, together with its Ukrainian and international partners, also continues to implement social initiatives as part of the Common Help Ukraine humanitarian project. As of today, the financial value of charitable contributions and humanitarian aid provided by the project already exceeds UAH 1.062 billion.

“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, an oil extraction plant in Globyno (Poltava region), seven elevators and a biogas complex.

In the third quarter of 2023, the agricultural holding earned EUR1.24 million in net profit, down 27.7 times compared to the same period in 2022. Astarta’s revenue decreased by 14.4% to EUR104.75 million, gross profit by 2.7 times to EUR26.96 million, operating profit by 7.6 times to EUR6.79 million, and EBITDA by 42.7% to EUR97.25 million.

Due to significantly better performance in the first half of this year compared to the first half of last year, in the first nine months of 2023, net profit decreased by 9.8% to EUR 55.97 million, while revenue increased by 14.8% to EUR 392.00 million. The company’s gross profit increased by 3.0% to EUR 151.91 million, while operating profit decreased by 15.9% to EUR 79.91 million and EBITDA by 10.8% to EUR 116.63 million.

, ,

“Interpipe” transferred almost UAH 1.8 bln to budgets of all levels

According to the results of January-June of the current year, the Ukrainian industrial company Interpipe transferred almost UAH 1.775 billion to budgets of all levels and extra-budgetary funds, which is 74% more than in the same period last year.

According to the press release of the company on Wednesday, the deductions to the state budget in the reporting period amounted to about UAH 1.289 billion (+130%), to local budgets – UAH 223 million (-5%). Another UAH 263 mln (+17%) was transferred as ERUs.

Serhiy Kuzmenko, Interpipe’s Director for Economics and Finance, noted that despite the difficult situation in Nikopol, the group is making a strong contribution to filling the state coffers, helping to keep the country’s economic front on track.

“Increased production of products with greater added value means the work of thousands of people in the frontline region and further growth in the payment of taxes,” stated Kuzmenko, quoted by the press service.

As reported, Interpipe in the first quarter of 2023 transferred to budgets of all levels and extra-budgetary funds almost 623 million UAH, which is 3% more than in the same period last year. Payments to the state budget for this period amounted to about UAH 406 million (+24%), to local budgets – UAH 107 million (-28%), another UAH 110 million (-14%) was transferred as ERUs.

“In 2022, Interpipe transferred UAH 2.816 billion to budgets of all levels and extra-budgetary funds. At the same time, deductions to the state budget amounted to about UAH 1.74 billion (-7% compared to 2021), to local budgets – about UAH 623 million (+1%). Another about UAH 454 mln (-4%) was transferred as ERUs.

“Interpipe” is a Ukrainian industrial company, a manufacturer of seamless pipes and railroad wheels. The company’s products are supplied to more than 80 countries through a network of sales offices located in key markets in the Middle East, North America and Europe. In 2022, Interpipe sold 384 thousand tons of pipe products and 87 thousand tons of railway products. Railway products are sold under the KLW brand.

Interpipe employs 10 thousand employees. In 2022, the company transferred UAH 2.8 bln to budgets of all levels.

The company’s structure includes five industrial assets: “Interpipe Nizhnedneprovsky Pipe Rolling Plant (NTZ)”, “Interpipe Novomoskovsk Pipe Plant (NMTZ)”, “Interpipe Niko Tube”, “Dnepropetrovsk Vtormet” and electric steel melting complex “Dneprostal” under the brand “Interpipe Steel”.

The ultimate owner of Interpipe Limited is Ukrainian businessman Victor Pinchuk and members of his family.

,

“Metinvest” paid more than UAH 2.5 bln in taxes to Ukrainian budgets

In January-March this year, the mining and metallurgical group Metinvest, including associated companies and joint ventures, paid more than UAH 2.5 billion in taxes and fees to the budgets of all levels in Ukraine.
According to the company’s press release on Wednesday, Rinat Akhmetov’s Metinvest remains the backbone of the country’s economy amid a full-scale Russian invasion of Ukraine.
In January-March this year, Metinvest’s Ukrainian enterprises paid about UAH 725 million in unified social contributions, more than UAH 649 million in personal income tax and about UAH 442 million in income tax.
Land rent – more than UAH 288 mln, subsoil use fee – about UAH 174 mln and ecological tax – almost UAH 136 mln, which are the most significant sources of the state and local budgets of Ukraine.
Director General of “Metinvest” Yuriy Ryzhenkov said that it is not in the tradition of Ukrainians to give up.
“Therefore, the enterprises of Metinvest continue to fill the treasury of Ukraine in extremely difficult military conditions, under the constant threat of enemy shelling. We hold the line on the economic direction, despite the loss of control over the Mariupol plants, the blockade of the ports and other negative factors for the industry. After all, we understand that business must work to win and then to rebuild Ukraine. All as one, because we have one country,” the top manager was quoted by the press service.
As it was reported, taking into account the associated companies and joint ventures, in 2022, Metinvest transferred 20.5 billion UAH of taxes and duties to the budgets of all levels in Ukraine.
“Metinvest is a vertically integrated group of mining and metallurgical companies. The enterprises of the group are mainly located in Donetsk, Luhansk, Zaporizhzhia and Dnipropetrovsk regions.
The major shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%) that manage it jointly.
Metinvest Holding LLC is the management company of Metinvest Group.

, ,

“Interpipe” transferred almost UAH 623 mln to budgets of all levels and off-budget funds

In January-March 2023, the Ukrainian industrial company Interpipe transferred almost UAH 623 million to the budgets of all levels and off-budget funds, which is 3% more than in the same period last year.
According to the company’s press release on Thursday, payments to the state budget in 1Q2023 amounted to about UAH 406 million (+24%), and to local budgets – UAH 107 million (-28%). Another UAH 110 million (-14%) was transferred as unified social tax.
Sergiy Kuzmenko, Interpipe’s Chief Financial Officer, noted that the company continues to hold Ukraine’s economic front during the war.
“The formula is quite simple: the higher the volume of production and export of finished goods, the higher the total amount of taxes paid. Stably operating Interpipe enterprises provide jobs for 10,000 people in the frontline region and fill the budgets of all levels,” Kuzmenko said, as quoted by the press service.
As reported, in 2022, Interpipe transferred UAH 2.816 billion to the budgets of all levels and off-budget funds. At the same time, payments to the state budget for the year amounted to about UAH 1.74 billion (-7% compared to 2021), and to local budgets – about UAH 623 million (+1%). Another UAH 454 million (-4%) was transferred as unified social tax.
At the same time, Interpipe’s Director of Economics and Finance noted that in 2022, each ton of pipe and railway products produced by the company brought more than UAH 5909 to the Ukrainian budget, which is more than half the previous year’s figure.
“Interpipe is a Ukrainian industrial company that manufactures seamless pipes and railway wheels. The company’s products are supplied to more than 80 countries through a network of sales offices located in key markets in the CIS, Middle East, North America and Europe. Railroad products are sold under the KLW brand.
Interpipe employs 10 thousand people.
The company has five industrial assets: “Interpipe Nizhnedniprovsky Pipe Rolling Plant (NTZ), Interpipe Novomoskovsk Pipe Rolling Plant (NMPP), Interpipe Niko Tube, Interpipe Vtormet and Dnipro Steel, an electric steelmaking complex under the Interpipe Steel brand.
The ultimate owner of Interpipe Limited is Ukrainian businessman Victor Pinchuk and his family members.

,

“Centravis” transferred to budgets of all levels more than 230 million UAH

Centravis Production Ukraine” Private Joint Stock Company (Centravis Production Ukraine), which is a part of Centravis Ltd. holding, on the results of work in January-October this year transferred to the budgets of all levels more than 230 million UAH.
According to the company’s press release issued on Friday, the most funds were transferred to non-budgetary funds – almost 172 million hryvnias. The local budget was replenished by 41.7 million UAH and the state budget by 16.8 million UAH.
It is recalled that at the end of 2021 Centravis paid almost 283 million UAH to the budgets of all levels. Thus, despite the large-scale war, the company continues to work and fulfill its obligations to the state and local community.
In addition to paying taxes, Centravis provides assistance to the security and defense forces and the war-affected population. In total, the company provided aid worth more than 3.3 million hryvnias and purchased ammunition and protective equipment for the mobilized workers of the company.
“They say there is an inscription on the facade of the U.S. Department of Justice: taxes are the price of civility in society. In our case, taxes are the price of protecting independence and statehood, and this year they are especially nice to pay. We believe that every extra hryvnia will help repel aggression and rebuild Ukraine, “- said General Director of Centravis Yuri Atanasov, quoted by the press service.
“Centravis” is among the ten largest manufacturers of seamless stainless steel tubes in the world. The company’s production is concentrated in Nikopol, which has been under almost daily fire from Russian troops since July this year.
Last year the company realized a number of large-scale orders for such world companies as Benteler Automotive, LINSTER Edelstahlhandel, Rohr Mertel, Buhlmann Group, Webco, MRC. “Centravis works with such famous automobile brands as BMW, Volkswagen, General Motors. Supplies pipes for nuclear power plants, fresh water storage facilities, the International Thermonuclear Experimental Reactor (ITER) and other landmark projects.
“Centravis is one of the world’s largest manufacturers of seamless stainless steel pipes, founded in 2000. Its production facilities are located in Nikopol (Dnepropetrovsk region).
Centravis Ltd Holding was created on the base of Nikopol Stainless Tube Works CJSC, service and trading companies of Yuvis Industrial and Commercial Enterprise Ltd. Its shareholders are members of the Atanasov family.
Centravis Ltd. owns 100% of shares of Centravis Production Ukraine PJSC.

,