Business news from Ukraine

OLKOM PLANS TO SUPPLY FIRST BATCH OF GOODS TO POLAND

The Olkom Group plans in autumn 2019 to supply a first batch of goods (margarine spread) to Poland, Board Chairman of PrJSC Kyiv Margarine Plant, which is part of the group, Yuriy Yevenko has said.
“We will start trial deliveries to Europe this season – in September. Now we are negotiating with one Polish company. However, they want products under their own trademark, so we will not export under our own trademark yet. The volume of the first delivery is 40 tonnes: this is enough so that they put the products on the shelves of supermarkets. We plan to increase the share of direct exports to 10% of the total production within three to five years,” Yevenko told Interfax-Ukraine.
According to him, the company increased production by 75% in January-March 2019 (mainly thanks to b2b products), and by the end of the year it plans to double production in monetary terms.
“Last year we earned about UAH 600 million of revenue, and this year we set a goal to earn UAH 1.2 billion,” he said.
He added that in 2018, the company produced about 40,000 tonnes of products, of which 23,000 tonnes were tolling services for oil refining.
Over 2018-2019, company has invested about $1 million in boosting the production capacity, and is currently in talks with the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) and two investment funds.
At the same time, according to Yevenko, in three to five years, Olkom should complete the repayment on loans attracted about 10 years ago and consider expanding production outside Kyiv, but the company does not intend to leave the site in Kyiv.

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GOODS TURNOVER AT FOOD CHAINS OF FOZZY GROUP 26% UP

Fozzy Group in 2018 increased goods turnover at its food chains Fora, Silpo, Thrash!, Fozzy Cash & Carry by 26% compared to 2017, to UAH 78.8 billion, the press service of the company has reported.
“In 2018, goods turnover at the retail grocery chains of the group amounted to UAH 78.8 billion, which is 26% more than in 2017. Thus, Fozzy Group continued its development in 2018: this brought UAH 2.9 billion in taxes to the national budget. In particular, Silpo-Food LLC is among the top three largest taxpayers in Ukraine among retailers in 2018, according to the State Fiscal Service,” the report said.
According to the report, in 2018 some 25 new stores were opened, in particular, seven Silpo in five cities of Ukraine, 12 Fora stores and six Thrash! discount stores. The total number of Fozzy Group stores at the beginning of 2019 was 686.
The group also opened two new restaurant projects in 2018: the Cuban restaurant and bar Escobar and an establishment with the aesthetics of the world bars Who & Why Drinkery. The innovative postal and logistics operator Justin also was launched, its 500 branches are already located in the stores of Fozzy Group.

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EXPORTS OF GOODS FROM UKRAINE IN JAN 2019 FROM JAN 2018 GROWS BY 9.2% TO $4.066 BILLION

Exports of goods from Ukraine in January 2019 from January 2018 grew by 9.2%, to $4.066 billion, while imports increased by a mere 0.7%, to $4.045 billion, the State Statistics Service has reported. According to its data, as a result, the surplus of foreign trade in goods in January of this year amounted to $20.9 million against the deficit of $294.1 million in January 2018.
The State Statistics Service said that in January 2019 compared to December 2018 the seasonally adjusted export volume rose by 6.9%, to $4.373 billion, while imports by 3.8%, to $4.839 billion.
The seasonally adjusted foreign trade balance in January 2019 was negative and amounted to $465.9 million, which is better than in December 2018 ($571.5 million).
The service said that foreign trade operations were conducted with partners from 193 countries of the world.

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UKRAINE EXPANDS GEOGRAPHY OF GOODS EXPORT TO 85 NEW MARKETS IN PREVIOUS YEAR

Ukraine in 2018 expanded geography of export of goods and increased the number of companies, which were authorized to export food of animal origin, according to a report of the State Service for Food Safety and Consumers’ Protection. According to the report, in 2018, 85 new markets were opened for various types of products – these are the markets of Albania and Ghana (poultry and products made of it), Hong Kong (poultry and products made of it, eggs and egg products), Morocco (poultry and products made of it , egg products), Macedonia (dairy products, feed), UAE (live sheep and goats, young poultry, live poultry, hatching eggs), Tunisia (poultry meat), Montenegro (eggs and egg products), and other countries.
In addition, 306 Ukrainian enterprises, including 126 food producers (poultry, fish, honey, eggs, and dairy products) now are authorized to export its products to the countries of the European Union.

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