Business news from Ukraine


PJSC Kriukov Car Building Works (KCBW, Kremenchuk, Poltava region) saw a consolidated net income of UAH 74.5 million in January-March 2020, which is 76.2% less than in the same period in 2019 (UAH 310.75 million).
According to the interim reporting of the enterprise in the information disclosure system of the National Securities and Stock Market Commission, the net income from sales of products for that period decreased by 43%, to UAH 1.114 billion.
Consolidated gross profit decreased by almost 77.8%, to UAH 101.06 million, and operating profit decreased almost fivefold, to UAH 78.02 million.
The consolidated financial statements include, in addition to Kriukov Car Building Works (the parent company), its subsidiaries, namely, Instrumental Plant LLC (Kremenchuk) and V.N.V. LLC (Kyiv), in which 100% belongs to Kriukov Car Building Works.
The company said in the financial statements on its website that the current assets of the group by the beginning of April exceed its current liabilities by UAH 2.983 billion.
In the structure of net income from wagon constructing products, some UAH 1.058 billion was received (38.5% less than in the first quarter of 2019), including sales of main products, freight wagons, decreased by 47%, to UAH 871.5 million, while passenger wagons increased by 2.6 times, to UAH 187 million.
However, the sale of wagons in Ukraine significantly decreased by 70% compared with January-March of 2019, to UAH 487 million (the share in total sales decreased to 43.7% compared to 82.5%), and to the countries of Asia, to UAH 1.58 million compared to UAH 70.28 million. The sale of wagons to European countries grew by 2.3 times, to UAH 624.82 million (their share in total sales rose from 13.9% to 56%).
The number of wagons produced and sold in the first quarter is not given in the report.
Kriukov Car Building Works is the only company in the CIS that has established and operating production of passenger and freight rail wagons. It also produces regional diesel trains, high-speed interregional trains of locomotive traction, spare parts and carts for freight wagons.



PJSC Kriukov Car Building Works (KCBW, Kremenchuk, Poltava region) sent 41.2% or UAH 200.689 million of net profit (UAH 487.25 million) to pay dividends for 2018, which equals to UAH 1.75 per share with a face value of UAH 0.75. The decision was made at a general meeting of the company’s shareholders held on April 23, 2019.
As reported, with reference to Head of the supervisory board of KCBW Volodymyr Prykhodko, in the past six years, KCBW has not paid dividends. In 2017, after several years of unprofitable business (including due to Russia’s cancellation of KCBW wagon certification), the plant received a net profit of UAH 332 million, but did not pay dividends.
The charter capital of KCBW is UAH 86.01 million, divided into 114,679,552 ordinary registered shares.
According to the company, as of March 31, 2019, the shareholders of PJSC are Estonian AS Skinest Finants (25% of the share capital) and Osauhing Delantina (25%), OW Capital Management GmbH (Austria, 25%) and U.K. registered Transbuilding Service Limited (19.17%).
At the same time, according to the report, the beneficial owners (controllers), who own more than 90% of the company’s shares, are Head of the supervisory board Prykhodko, N. Prikhodko (coincides with the initials of his wife), as well as Estonian businessman Oleg Osinovsky and Chairman of the Board of Directors of the Russian manufacturer of wagons Metalwork Plant (Saratov region) Stanislav Gamzalov.