Business news from Ukraine

UKRAINIAN ENTERPRISES RAISE PRETAX PROFIT BY 12.4% IN JAN-SEPT

Enterprises and organizations in Ukraine in January-September 2018 raised profit from ordinary activities before taxation by 12.4%, to UAH 208.2 billion, while in January-September 2017 the figure was UAH 237.8 billion, according to the State Statistics Service of Ukraine. According to the service, in January-September 2018 profitable Ukrainian enterprises received UAH 378.218 billion of profit, which is 2.6% more than in the same period in 2017. At the same time, 29.2% of enterprises posted a negative financial result. Their losses in January-September of this year increased by 29.9% compared to January-September last year, to UAH 169.98 billion.

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VODAFONE UKRAINE SEES NET PROFIT FALL BY 24.4%

Vodafone Ukraine sees net profit fall by 24.4%
KYIV. Nov 20 (Interfax-Ukraine) – Vodafone Ukraine in July-September 2018 received a net profit of UAH 393 million, which is 24.4% less than the figure for July-September 2017.
According to a press release from the Ukrainian operator, the reduction in net profit is due to the increase in depreciation costs due to the active deployment of 4G and 3G networks.
The company’s revenue for the third quarter increased by 6.5%, to UAH 3.3 billion.
Vodafone Ukraine said OIBDA in the third quarter of this year increased by 49.4% compared to the same period last year, to UAH 1.8 billion, and the OIBDA margin rose by 13.9 percentage points, to 54.9%.
The subscriber base of Vodafone Ukraine in the reporting period decreased by 4.3%, to 19.9 million subscribers.
The company added that at the end of September 2018, the number of 4G users increased by 75.3%, without specifying the absolute figure, while the 4G network covers almost 40% of the country’s population.
According to the press release, investment in the network infrastructure amounted to more than UAH 1 billion for the reporting period and UAH 20 billion since the start of construction of high-speed mobile Internet networks.

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AGROLIGA POSTS 2.9% FALL IN NET PROFIT IN JAN-SEPT

The Agroliga Group (Kharkiv region) in January-September 2018 saw a EUR 2.35 million in net profit, which is 2.9% less than a year ago.
According to a company report for January-September 2018, revenue grew by 4.9%, to EUR 15.26 million, gross profit – by 4.7%, to EUR 3.43 million, and operating profit fell by 5.6%, to EUR 2.81 million.
Total assets as of September 30, 2018 came to EUR 33.02 million compared with EUR 25.33 million as of December 31, 2017.
Agroliga has been operating on the Ukrainian agricultural market since 1992. Its enterprises are engaged in growing grain crops, processing sunflower seeds, and dairy farming.
The group cultivates about 10,000 hectares of land.
The majority shareholders of the group are Oleksandr Berdnyk with a share of 41.66%, and Iryna Poplavska with 41.66%.

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LARGEST 25 UKRAINIAN BANKS RECEIVE UAH 10.9 BLN NET PROFIT IN 2018

The largest 25 Ukrainian banks (in terms of net assets) in January-September 2018 received a net profit of UAH 10.9 billion, which is 4.8 times more than in the same period of 2017. The best result was shown by PrivatBank, which received a net profit of UAH 5.093 billion against a net loss of UAH 1.604 billion a year earlier, Raiffeisen Bank Aval, which increased profit by 0.96%, to UAH 4.071 billion, and UkrSibbank, which saw profit rise by 2.2 times, to UAH 1.898 billion.
The loss in the reporting period was received by Sberbank with UAH 6.995 billion, VTB Bank with UAH 1.788 billion, Ukrsotsbank with UAH 839.465 million, and Prominvestbank (PIB) with UAH 108.26 million.
PrivatBank received the highest net interest income before allocations to reserves – UAH 10.717 billion (an increase of 2.63 times), Oschadbank got UAH 3.664 billion (a decrease of 10.34%), and UkrSibbank some UAH 2.771 billion (an increase of 46.77%).
In relative terms, the interest income of Ukrsotsbank rose most of all, by 2.68 times, to UAH 759.934 million.
However, if to consider the assets of the banks, OTP Bank turned out to be the most successful in the reporting period as its net interest margin for the reporting period was 6.62%, followed by Kredobank with 6.24% and FUIB with 6.01%.

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ENERGOATOM SEES UAH 2 BLN OF NET PROFIT IN 2018

National Nuclear Generating Company Energoatom in January-September 2018 saw UAH 2.067 billion of net profit compared with UAH 473.602 million of net loss a year ago.
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, in January-September 2018, its net revenue totaled UAH 31.484 billion, which is 9% more than a year ago (UAH 28.891 billion), and gross profit of Energoatom grew by 59.4% or UAH 2.719 billion, to UAH 7.295 billion.
Energoatom is the operator of all four Ukrainian-based operating nuclear power plants, which have 15 VVER reactors with an overall generating capacity of 13.835 gigawatts.

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UKRHYDROENERGO SEES NET PROFIT RISE IN 2018

PJSC Ukrhydroenergo in January-September 2018 saw net profit rise by 22% compared to the same period of the previous year, to UAH 2.298 billion.
According to the financial statements posted on the company’s website, net income for the three quarters grew by 21% (UAH 991 million) and amounted to UAH 5.524 billion, gross profit by 29%, to UAH 3.272 billion.
As reported, in 2017 Ukrhydroenergo saw net profit fall by 33.7% (UAH 744.185 million) compared to 2016, to UAH 1.466 billion, net income by 4.7% (UAH 281.413 million), to UAH 5.716 billion, gross profit by 12.6% (UAH 423.322 million), to UAH 2.949 billion.
Ukrhydroenergo operates all the major hydroelectric power stations located in the Ukrainian parts of the Dnipro and Dniester rivers. The total installed electric capacity of the hydropower plants of the company (103 hydroelectric units) is 5,758 MW. The state represented by the Ministry of Energy and Coal Industry owns 100% of the company’s shares.

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