The consolidated profit of the National Bank of Ukraine (NBU) in January-June 2020 amounted to almost UAH 80 billion, which is 12.5 times more than in the same period of 2019 (UAH 6.4 billion).
According to a report on the central bank’s website, the profit was formed due to the revaluation of financial instruments for more than UAH 76 billion and interest income in the amount of more than UAH 15 billion.
“Consolidated profit is not profit to be transferred to the state budget. Obligations to transfer NBU profit to the state budget in 2021 will be formed at the end of 2020 and announced in the spring of 2021,” the press service said.
The report indicates that the NBU’s assets for the six months increased by 13%, to UAH 1.199 trillion due to the growth of international reserves by 12.6% in dollar terms and their revaluation in hryvnias due to the change in the exchange rate of the national currency to foreign currencies, while the rise in debts on refinancing loans that were issued to banks was insignificant.
In terms of NBU liabilities for the first half of the year, the volume of balances on accounts of government and other institutions increased by 3.4 times, and the amount of deposit certificates and banks’ funds declined by 31% and 35.5%, respectively, the release says.
It is specified that the consolidated financial statements of the NBU for the first half of the year were signed on August 31.
The Danish agricultural company Agromino with assets in Ukraine, the Russian Federation and Estonia in January-June 2020 received EUR 760,000 in net profit against EUR 5.25 million in net profit for the same period in 2019.
According to the company’s report on its website, total income, adjusted for the fair value of assets and reserves, for the first half of this year increased by 23.2%, to EUR 35.47 million, of which EUR 33.57 million was provided by the Ukrainian agricultural segment.
Agromino’s EBITDA for the six months of 2020 was positive and increased by 10.2%, to EUR9.7 million.
“The results for the first half of 2020 include a foreign exchange loss of EUR2.1 million. In the first half of 2019, foreign exchange gains of EUR 600,000 were received,” the report says.
In the second quarter of 2020, Agromino reduced its net profit by 12.6% compared to the same period in 2019, to EUR 7.38 million, revenue increased by 12.9%, to EUR 23.46 million.
In 2019, Agromino received EUR 2.66 million in net profit against EUR 9.55 million in net loss in 2018. Its revenue for 2019 increased by 40.9% and amounted to EUR 35.62 million.
Agromino (formerly Trigon Agri) was established in 2006. It specializes in grain and dairy production, agricultural trade.
Cereal Plant, a leading producer of cereals in Ukraine, in January-June 2020 receive EUR 247,000 in net profit compared to EUR 26,000 over the same time in 2019.
According to a reported of Cereal Planet PLС holding on the Warsaw Stock Exchange on August 14, its revenue over the review period doubled to EUR 17.47 million and gross profit increased by 2.3 times, to EUR 3.99 million.
In April-June 2020, Cereal Planet saw EUR 246,000 in net profit against EUR 2,000 in Q2, 2019. Its revenue increased by 2.1 times, to EUR 9.96 million, and gross profit – by 2.3 times, to EUR 2.19 million in Q2, 2020.
Cereal Planet said in its report that the coronavirus (COVID-19) pandemic did not affect the company’s work. In addition, weather conditions were favorable for a good grain harvest, therefore the company expects good supplies of raw materials. The company will also expand sales on international markets and constantly looks for customers all over the world.
According to the report, in January-June 2020 the company saw a 48% rise in exports, to EUR 7.47 million, as compared to H1, 2019. Export accounted for 42% of the total sales. Imports in H1, 2020 increased by 5.9 times, to EUR 1.58 million.
In the first half of 2020, the company increased production of cereals by 1.7 times, to 23,100 tonnes compared to the same time in 2019. Production of peas tripled, to 11,750 tonnes, buckwheat – by 43%, to 4,100 tonnes, bulgur – by 2%, to 2,840 tonnes, millet – by 42%, to 2,390 tonnes, barley groats – by 1.7 times, to 296 tonnes.
In Q2, 2020, Cereal Plant increased cereals production by 1.7 times as compared to April-June 2019, to 10,240 tonnes. Production of peas increased by 2.7 times, to 4,840 tonnes, buckwheat – by 14%, to 1,540 tonnes, millet – by 3.6 times, to 1,160 tonnes, barley groats – by 48%, to 628 tonnes, while bulgur output dropped by 19%, to 1,160 tonnes and flakes production was 60% down, to 169 tonnes.
Cereal Planet produces weight groats for the B2B segment under the Olimp trademark (Bulgur, Ridlana, Mayfayna, Zlatokositsa product lines) and animal feed mixes under the Lyuba Ferma trademark. The company exports groats and cereals to more than 50 countries (China, India, Germany, Italy, the United Arab Emirates, Poland, Turkey, etc.).
According to the group, Cereal Planet accounts for up to 10% of the Ukrainian cereals market. Its monthly output is 4,500 – 5,000 tonnes.
Its owners are Anatoliy Vlasenko and Oleksandr Vlasenko with 33.53% and 29.93%, respectively, as well as Oleksandr Slavhorodsky with 29.93% and Ihor Dobruskin with 5.5%.
The net profit of Ukrgasbank (Kyiv) in January-June 2020 amounted to UAH 437.18 million, which is 1.6 times more than in the same period of 2019 (UAH 275.99 million), according to the bank’s quarterly report posted on the bank’s website on Tuesday.
According to it, in the second quarter, Ukrgasbank’s net profit amounted to UAH 98.11 million, which is 2.3 times less than in April-June 2019 (UAH 221.71 million).
The bank’s net interest income for six months decreased 5.8% compared to the same indicator a year earlier, to UAH 1.44 billion, and net fee and commission income grew by 18.6%, to UAH 555.81 million, while the cost of creating reserves for expected credit losses decreased by 91.3%, to UAH 34.89 million.
Ukrgasbank’s assets in the first six months of 2020 increased 24.2%, to UAH 148 billion, including loans to customers and finance lease fell by 2.6%, to UAH 37.97 billion, and cash and cash equivalents decreased 9%, to UAH 42.24 billion.
At the same time, the bank’s investments, which are measured at fair value through other comprehensive income, increased 2.1 times over this period, to UAH 64.59 billion.
Liabilities of Ukrgasbank in January-June grew by 25%, to UAH 138.64 billion, including customer funds – by 27.4%, to UAH 131.63 billion.
The bank’s equity capital rose by 13.5% in the first six months of this year, to UAH 9.37 billion, while the charter capital remained at the level of UAH 13.84 billion.
JSB Ukrgasbank was established in 1993. The state, represented by the Ministry of Finance, owns 94.94% of the shares of the financial institution.
According to the National Bank of Ukraine (NBU), as of June 1, 2020, Ukrgasbank was ranked fourth in terms of total assets among 75 banks operating in the country.
Ovostar Union, one of the leading producers of eggs in Ukraine, saw its net profit fall by 73.7% in January-March 2020 compared to the same period in 2019, to $1.17 million.
According to the company’s report on the Warsaw Stock Exchange’s website, its revenue decreased by 24.7%, to $23.44 million in Q1, 2020.
Gross profit of Ovostar in January-March 2020 decreased by 54.6%, to $3.6 million, operating profit – by 78.7%, to $1.04 million.
The company earned $10.84 million from export sales ($5.56 million from sales of eggs and $5.28 million from sales of egg products). In Ukraine it sold eggs worth $8.54 million and egg products worth $4.06 million.
In Q 1, 2020, Ovostar Union invested $411,000 in the purchase of equipment for poultry houses and $450,000 in the overhauls and modernization of its facilities.
As reported, the company reduced egg sales by 28% in January-March 2020 compared to the same period in 2019, to 241 million eggs. Egg sales for export decreased by 56.5%, to 81 million eggs, resulting in a share of export sales of 34% during the specified period (compared to 56% in Q1, 2019).
Pivdenny seaport in January-March 2020 increased its net profit to UAH 221.316 million, which is 21.3 times more (UAH 210.949 million) compared to the same period in 2019.
According to a company press release, 90% of the company’s net profit was transferred to the state.
In total, in the first quarter of 2020, the state stevedore paid taxes of UAH 234.704 million, which is UAH 110.538 million more (89% more) compared with the first quarter of 2019.
“The situation in the world and Ukraine is difficult, and seaports are the key elements of the state’s economy. Pivdenny state stevedore rationally organizes its work and maintains the country’s budget. The record monthly and quarterly performance, the increased daily rate of unloading high-sided wagons and an increased number of processed vessels of the Capesize type – all this was achieved thanks to effective planning and competent coordination of cargo operations,” acting director of Pivdenny port Oleksandr Oliynyk said.
According to the release, in the first quarter of 2020 the port handled almost 4.6 million tonnes of cargo, which is the historic maximum of quarterly transshipment of the state stevedore. The record monthly transshipment was fixed in March at 1.777 million tonnes of cargo. The cargo range includes ore, coal, cast iron, grain and cereals, mineral fertilizers. The bulk was ore (83% of the total volume).
In January-March of this year, almost 3.4 million tonnes of exported cargo passed through the port (52% more from the volume for the same period last year), 3.8 million tonnes of ore were processed (up by 66%).
Positive dynamics is also observed in processing imported goods: the port accepted 688,200 tonnes of cargo (a two-fold increase).