Business news from Ukraine

STALKANAT-SILUR REDUCES NET PROFIT IN 2020

PJSC Production Association Stalkanat-Silur (Odesa), following the results of work in 2020, reduced its net profit by 21.3% compared to 2019 – to UAH 116.761 million from UAH 148.419 million.
According to the company’s announcement of the annual meeting of shareholders on April 26, its outstanding loss at the end of the year amounted to UAH 151.677 million.
Over the past year, the plant reduced its current liabilities by 27% – to UAH 812.295 million, long-term liabilities amounted to UAH 130.162 million. At the same time, accounts receivable decreased by 4.5% – to UAH 142.596 million.
According to the announcement, the assets of Stalkanat-Silur in 2020 decreased by 3% – to UAH 1.7 billion, including fixed assets decreased by 3.5% – to UAH 1.3 billion.
The draft decisions of the meeting say that shareholders are invited to leave the profit received in 2020 unallocated.
PJSC Stalkanat-Silur produces steel, nylon ropes and metal goods.

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JTI REDUCES NET PROFIT BY 12% IN UKRAINE IN 2020

PrJSC JT International Company Ukraine, one of the largest tobacco companies in Ukraine, in 2020 reduced its net profit by 12.1% compared to 2019 – to UAH 613.75 million.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission, its assets increased by 9.6% over the year, to UAH 4.27 billion, while retained earnings decreased by 10.6% – to UAH 987 million.
The total accounts receivable of the PrJSC by the end of the year decreased by 4.7% – to UAH 983.99 million.
According to the report, at the annual meeting of shareholders on April 21, it is planned to send UAH 298.34 million from the net profit for 2020 to pay dividends, the remaining UAH 315.41 million will not be distributed. The agenda of the meeting also includes the approval of the maximum amount for the purchase of tobacco products from PJSC JT International Ukraine in the amount of UAH 20 billion and the conclusion of contracts for the sale of tobacco products in the amount of UAH 21 billion.
JT International Company Ukraine is a member of Japan Tobacco Inc. JTI). In Ukraine, it owns Kremenchuk tobacco factory (Poltava region).
The most famous brands of JT International Ukraine are Sobranie, Winston, Camel, Glamor, and LD.
Its products are sold in Ukraine and exported to more than 20 countries.

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OMEGA INSURER ENDS 2020 WITH NET PROFIT OF UAH 33.3 MLN

Kyiv-based Omega insurance company ended 2020 with a net profit of UAH 33.3 million, while it ended 2019 with a net loss of UAH 4.3 million, follows from the agenda of the shareholders’ meeting released in the information disclosure system of the National Securities and Stock Market Commission of Ukraine.
It is noted the company’s retained loss of amounted to UAH 94.639 million over 2020, while UAH 168.5 million in 2019.
The company also said as of December 31, 2020, its assets increased by 7.2%, to UAH 575.443 million, cash and their equivalent by 4.8 times, to UAH 43.579 million, equity by 7.6%, to UAH 491.627 million, while accounts receivable decreased by 17.3%, to UAH 93.820 million.
The company’s long-term liabilities increased by 9.8%, to UAH 66.861 million over 2020, current ones decreased by 12.3%, to UAH 16.955 million.
Omega insurance company was established in 1994 and operates on the basis of 25 licenses.

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NET PROFIT OF BANK CREDIT DNEPR TOTALS UAH 40.251 MLN IN H1

Net profit of Bank Credit Dnepr (Kyiv) in January-June 2018 totaled UAH 40.251 million, the bank has said in a press release.
“The profit of Bank Credit Dnepr in April-June 2018 totaled UAH 157.175 million, and in H1 2018 the bank saw UAH 40.251 million in profit,” the bank said.
Net interest income in January-June 2018 grew by 33.2% year-over-year, to UAH 85.181 million. Net commission fee grew by 28%, to UAH 64.782 million.
Net worth in H1 2018 rose by 2.4%, to UAH 838.281 million. Assets totaled UAH 9.078 billion. Funds of clients accounted for UAH 8.183 billion.
Bank Credit Dnepr was founded in 1993. Its only owner is Victor Pinchuk.
The bank ranked 21st among 84 operating banks in the country as of June 1, 2018 in terms of total assets (UAH 9.439 billion), according to the National Bank of Ukraine.

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REGAL PETROLEUM SEES $2.3 MLN NET PROFIT IN 2017

Regal Petroleum Plc with assets in Ukraine in 2017 saw a net profit of $2.29 million, while in 2016 its net loss was $1.26 million. According to a report by Regal posted on the website of the London Stock Exchange, its revenue in the past year increased by 36.6%, to $35.05 million.
Of this revenue, gas accounted for $24.94 million (a year earlier $16.53 million), condensate for $7.96 million ($5.7 million), and LPG for $2.16 million ($3.43 million).
Taking into account exchange rate differences, Regal’s total profit for 2017 was $1.04 million against the cumulative loss of $7.26 million for 2016.
The company said its operating cash flow in 2017 compared to 2016 grew by 80%, to $18 million, and the average gas price rose from $213 per 1,000 cubic meters to $241 per 1,000 cubic meters, condensate from $51 per barrel to $67 per barrel, LPG from $43 per barrel to $56 per barrel.
Regal notes at the end of 2017 the average daily production of hydrocarbons stood at 2,800 barrels of oil equivalent per day (boepd), which is about 65% more than at the end of 2016.
At the same time, the company’s capital investments last year fell to $4 million from $13.9 million a year earlier.

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