Business news from Ukraine

OVOSTAR POSTS 73.7% FALL IN NET PROFIT IN Q1

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).

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PIVDENNY PORT SEES NET PROFIT RISE BY 21 TIMES IN Q1

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).

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UKRAINIAN FARMAK RECEIVES NET PROFIT OF UAH 1.056 BLN IN 2019

PJSC Farmak, a Ukrainian pharmaceutical manufacturer, in 2019 received a net profit of about UAH 1.056 billion, which almost coincides with the indicator of 2018 (UAH 1.05 billion), the company said in the information disclosure system of the National Securities and Stock Market Commission.
Earlier it was reported that the company’s assets for the year increased by 12.3%, to UAH 6.657 billion.
The company plans to pay UAH 100 million in dividends.
In 2018, Farmak increased its net profit by 25.16% compared to 2017, to UAH 1.05 billion.
Farmak is a manufacturer of medicines of the European level, a leader in the pharmaceutical market of Ukraine in terms of sales. It exports products to 20 countries. It is a member of the Manufacturers of Medications of Ukraine association.
According to the state register, the ultimate beneficial owner of PJSC Farmak is the head of the supervisory board, Filia Zhebrovska, who owns 80% of the company.

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DONBASENERGO MULTIPLIES NET PROFIT IN Q1

PrJSC Donbasenergo, an electricity generating company, in January-March 2020 saw UAH 58.03 million in net profit, which is 26.4 times more than a year ago (UAH 2.198 million).
According to a company report in the information disclosure system of the National Securities and Stock Market Commission, its net revenue over the period grew by 1.3%, to UAH 1.587 billion, while gross profit fell by 17.35, to UAH 164.276 million.
As reported, Donbasenergo in 2019 saw UAH 68.997 million of net loss compared with UAH 104.111 million of net profit in 2018.

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ENTERPRISES AND ORGANIZATIONS OF UKRAINE RAISE PRETAX PROFIT BY 26% IN 2019

The enterprises and organizations of Ukraine in 2019 increased pretax profit from ordinary activities by 26%, to UAH 422.2 billion, the State Statistics Service has said.
According to the service, last year Ukrainian enterprises that worked profitably received UAH 596.3 billion in profit, which is 10.3% more than in 2018.
At the same time, 21.7% of enterprises worked with a negative financial result. Their losses in 2019 decreased by 15.3% compared to 2018, to UAH 174.1 billion.

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KYIV RIVER PORT’S INCREASES NET PROFIT 5.3 TIMES

JSC Kyiv River Port increased its net profit by 5.34 times in 2019 compared to 2018, to UAH 37.989 million.
This data is contained on the agenda of a meeting of shareholders scheduled for April 28, the materials of which are released in the information disclosure system of the National Securities and Stock Market Commission.
Net worth of the company is UAH 37.299 million and charter capital is UAH 17.25 million.
Total receivables increased by 34.1%, to UAH 33.353 million for the year.
The company’s assets as of December 31, 2019 increased by 26.4%, to UAH 106.566 million (UAH 84.328 million in 2018).
Kyiv River Port has more than 1,500 meters of cargo berths equipped with modern handling facilities. The port is equipped with hydraulic structures, special devices for parking, handling and navigational services of the fleet, coastal facilities, repair shops.

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