Business news from Ukraine

FLEXIBLE PACKAGING MATERIAL PRODUCER UKRPLASTIC PLANS TO INCREASE SALES BY 10% IN 2018

Public joint-stock company Ukrplastic (Kyiv), the leading manufacturer of flexible plastic packaging for consumer goods in Eastern Europe, plans to increase sales by 10% in 2018, to UAH 2.233 billion. This is outlined in a company annual report for 2017. “In 2018, the development of the company will first aim at retaining financial stability, expanding the range of flexible packages and developing the new market segments,” the company said.
According to the report, in 2017, net revenue fell by 4.7%, to UAH 2.03 billion, and net profit grew by 6%, to UAH 137.26 million. Gross profit shrank by 29.8%, to UAH 346.03 million, and operating profit grew by 10%, to UAH 437.77 million.
Ukrplastic produces flexible packaging materials for the food, cosmetic, pharmaceutical and other industries. According to the report, in 2017, the release of packaging materials by trademarks amounted to: BIPAN – 1,340 tonnes, VIPAN – 589 tonnes, ALPAN -7,150 tonnes, SOLAN – 10,28o tonnes, and TWISPAN – 3,730 tonnes.
PJSC Ukrplastic represents the Immer Group in Ukraine.

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HEAVY TRUCK PRODUCER AVTOKRAZ HAS 15% FALL IN NET REVENUE

Private joint-stock company AvtoKrAZ (Kremenchuk, Poltava region), the sole Ukrainian manufacturer of heavy trucks, saw UAH 1.048 billion of net revenue in 2017 (UAH 1.232 billion in 2016).
According to a Tuesday press release of the company, AvtoKrAZ CEO Roman Cherniak presented the figure in his report at a general meeting of shareholders held on April 3.
According to the press release, the share of dropside trucks of total vehicles made by the company was 41%, the share of chassis for various special-purpose equipment was 38%, tractor trucks – 17%, dump trucks – 3% and short log trucks – 1%.
Some 81% of trucks were delivered to the Ukrainian market, and supplies to the civil sector of the domestic market tripled. 5% of trucks were exported to non-CIS countries and 14% to the CIS.
Cherniak said that AvtoKrAZ last year passed a first audit of the quality management system under the certificate received in November 2016 confirming compliance with ISO/TS 16949:2009.
Capital investment in 2017 totaled UAH 1.8 million. The funds were sent to buy equipment, tools, modernization and reconstruction of fixed assets. Some UAH 29 million was spent on minor repair and overhaul and some UAH 7.5 million on maintenance of a clinic, dormitories, catering rooms, the palace of culture and other facilities.
According to the report of the CFO, growth of expenses and not enough volumes of production, permanent growth of currency exchange rates, accrued interest for the use of loans contributed to the fact that AvtoKrAZ saw large losses in 2017.

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BEER PRODUCER OBOLON HAS UAH 288 MLN OF NET PROFIT IN 2017

Private joint-stock company Obolon (Kyiv), a large beer and soft drinks producer in Ukraine, saw UAH 288.78 million of net profit in 2017 compared with UAH 219.4 million of net loss a year ago. According to a company report on holding the general meeting of its shareholders scheduled for April 26, its assets last year grew by 7.5%, to UAH 5.737 billion.
Undistributed profit totaled some UAH 381.1 million at the end of 2017, which is 3.5-fold more than a year ago.
Noncurrent liabilities soared 4.9-fold last year, to UAH 2.058 billion, while current liabilities fell by 47.4%, to UAH 1.737 billion. Total bills receivable grew 1.8-fold, to UAH 1.246 billion.
Obolon Corporation produces beer, soft drinks, mineral water and snacks, and is the country’s largest exporter of beer.
The corporation consists of the main plant in Kyiv and nine companies in the regions. Its main brands are Obolon, Carling, Zlata Praha, Bitburger, Hike Premium, Zibert, Desant, Zhigulevskoye, Yachminny Kolos, Zhivchik and Prozora. The corporation also produces the low alcohol drinks Rio, Gin-Tonic, Cherry Whiskey, Rum Cola, Brandy Cola and Ciber.

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