Business news from Ukraine

BANKS OF UKRAINE RAISE UP NET PROFIT BY 76% IN JAN

Banks of Ukraine in January 2022 saw UAH 7.1 billion of net profit, which is 76% more than in the same period of 2020 (UAH 4.1 billion), the National Bank of Ukraine (NBU) has reported.
“Revenue of banks in January grew by 34%, to UAH 24.9 billion, expenses – by 23%, to UAH 17.8 billion,” the regulator said.

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VODAFONE INCREASES NET PROFIT BY 20% IN UKRAINE

According to the results of April-June 2021, the Vodafone Ukraine mobile network operator reached a revenue figure of UAH 4.912 billion, which is 19% more than in the same period of 2020.
According to the operator’s financial report, its net profit for the specified period grew by 20% compared to the same period last year, to UAH 1.211 billion.
OIBDA increased by 31% and reached UAH 2.844 billion, OIBDA margin amounted to 57.9% (in the second quarter of 2020 it was 52.6%).
Vodafone Ukraine said that the main factor of growth was the increase in the consumption of communication services in voice & data tariffs. The gradual recovery in roaming revenues also contributed to the growth in revenues.
The emphasis on the development of 4G networks and the growth in the number of data users was reflected in the increase in consumption of data services and, accordingly, ARPU grew by 21%, to UAH 83.10.
The customer base of Vodafone Ukraine in the second quarter of 2021 slightly decreased – by 0.3%, to 18.9 million users.
At the same time, there was an increase in the segment of contract and corporate connections (from 2.1 million customers in the second quarter of 2020 to 2.4 million in April-June 2021), especially due to an increase in the number of new connections in the IoT segment.
In the second quarter of 2021, roaming revenues from own subscribers increased by 22%, and consumption growth was 57% compared to the third quarter of last year, traditionally the busiest period. “Data consumption in roaming in April-June 2021 exceeded the volume of the same period in 2019. The emerging trend allows us to hope that revenues from roaming will also return to the previous, precocious level next year,” the press service of the operator said.
Vodafone Ukraine also noted an increase in demand for services based on the Internet of Things (IoT) – the number of IoT users increased by 30% over the year, to 1 million.
According to the operator, the most popular IoT applications currently are: security, finance and retail, utilities, transport and logistics.
Vodafone Ukraine noted a certain revival in the mobile retail segment: according to the results of the second quarter, the company increased its profitability and revenue from the sale of equipment in its own retail network.
Capital investments of Vodafone Ukraine in the reporting period amounted to UAH 584 billion (a decrease of 18% compared to April-June 2020) and they are mainly aimed at developing high-speed Internet infrastructure. The company’s total investments in the construction of high-speed mobile Internet networks amounted to UAH 30.3 billion.
Vodafone Ukraine is the second largest mobile operator in Ukraine.

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NET PROFIT OF UNIVERSAL BANK IN JAN-JUNE INCREASES BY 5.7 TIMES

The net profit of Universal Bank (Kyiv) in January-June 2021 amounted to UAH 1.65 billion, which is 5.7 times more than in the same period of 2020 (UAH 288.614 million).
According to the quarterly reports published on the bank’s website, its net profit for the second quarter of 2021 amounted to UAH 782.255 million, which is 6.3 times more than in the corresponding period last year (UAH 123.96 million).
The bank’s net interest income for the six months increased by 2.2 times compared to the same period in 2020, to UAH 2.2 billion, and net commission income – by 1.5 times, to UAH 1.25 billion.
The bank’s assets in January-June increased by 23.2%, to UAH 41.859 billion, including loans and customer debt – by 1.3 times, to UAH 22.19 billion, and cash and cash equivalents – by 8%, to UAH 4.49 billion.
Universal Bank’s liabilities for the first half of the year increased by 20%, to UAH 37.5 billion, including customer funds – by 18.8%, to UAH 32.526 billion.
The bank’s equity capital in January-June grew by 1.6 times, to UAH 4.3 billion, while the charter capital remained at the level of UAH 4.309 billion.
Universal Bank is part of TAS Group of businessman Sergiy Tigipko, which was founded in 1998 and has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals and venture projects. In addition to Universal Bank, the financial sector of the group includes TAScombank, two insurance companies, and a number of other organizations.
According to the National Bank of Ukraine, as of June 1, 2021, Universal Bank ranked 11th in terms of total assets (UAH 42.96 billion) among 73 banks operating in the country.

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UKRNAFTA POSTS NET PROFIT OF UAH 1.585 BLN IN H1

PJSC Ukrnafta in January-June 2021 saw a net profit of UAH 1.585 billion versus UAH 2.596 billion of a net loss for the same period in 2020.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission, its net income in the first half of the year increased 1.5 times (by UAH 5.069 billion), to UAH 15.042 billion, gross profit – 3.3 times (by UAH 4.608 billion 607.785 million), to UAH 6.571 billion.
Ukrnafta is the largest oil company in the country. NJSC Naftogaz Ukrainy owns 50% + 1 share in Ukrnafta, a group of companies associated with the former shareholders of PrivatBank – about 42% of shares. Ukrnafta has 25 drilling rigs, 1,891 oil and 162 gas well. The company owns 537 filling stations.

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DANISH AGRICULTURAL COMPANY AGROMINO SEES NET PROFIT FALL BY 61.5% IN 2020

The Danish agricultural company Agromino with assets in Ukraine, the Russian Federation and Estonia reduced its net profit by 61.5% in 2020 compared to 2019, to EUR 1 million.
According to the annual report on the company’s website, its total revenue increased by 52.6% to EUR 56.6 million over 2020.
“On 15 July 2020, Agromino announced its plan to apply for delisting of Agromino’s shares. On 19 October 2020, Nasdaq Stockholm has approved such application. The last day of trading of Agromino’s shares was 30 October 2020,” according to the company’s press release.
The consolidated assets of the agricultural company as of December 31, 2020 were estimated at EUR 81 million (EUR 113.57 million in 2019).
“The Group’s strategy is to secure sufficient elevator capacity to enable the Group to dry the in-house produced grain after it has been harvested. Generally, the Group sells the maximum amount of wheat, corn, rapeseed, and soya to exports and sunflower on the local market,” the company said.
The total capacity of Agromino’s storage facilities increased from 121,000 tonnes in 2019 to 135,000 tonnes in 2020. The company cultivated 55,500 hectares in Ukraine in 2020, having harvested a total of 208,840 tonnes of crops, including 90,998 tonnes of wheat, 34,410 tonnes of sunflower, 64,392 tonnes of corn, 6,695 tonnes of rapeseed and 2,182 tonnes of soybeans.
According to the agricultural company, the financial results of 2020 include losses from exchange rate differences in the amount of EUR 3.3 million (in 2019 – EUR 1.8 million) associated with the depreciation of the Ukrainian hryvnia and the Russian ruble.
Agromino (formerly Trigon Agri) was established in 2006. It specializes in grain and dairy production, agricultural trade.
Its land bank in Ukraine is about 55,500 hectares. It cultivates land in Kharkiv, Mykolaiv, Kirovohrad, Kyiv, Zhytomyr, Khmelnytsky and Lviv regions.

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UKRHYDROENERGO SEES NET PROFIT RISE BY 3.5 TIMES IN Q1

PrJSC Ukrhydroenergo in the first quarter of 2021 compared to the same period of 2020 increased its net profit by 3.5 times (by UAH 1.626 billion), to UAH 2.278 billion, according to its financial statements on the website.
According to the company’s reporting, the net income of Ukrhydroenergo for January-March of this year increased by 1.65 times (by UAH 1.810 billion), to UAH 4.602 billion, gross profit – twofold (by UAH 1.797 billion), to UAH 3.468 billion.
At the same time, the cost of goods sold is UAH 1.133 billion, which is almost UAH 13 million higher than last year’s figure (UAH 1.120 billion).
The press service of the company noted that following the results of work in the first quarter, the company fully paid its obligations to the budgets of all levels, the volume of payments amounted to UAH 794.3 million.
As reported, Ukrhydroenergo in 2020 increased its net profit by 28.4% compared to 2019, to UAH 4.137 billion.

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