Business news from Ukraine

Yaroslavskyy’s DMZ received UAH 1.7bn in profit

Dniprovsky Iron and Steel Plant (DMZ, formerly Evraz-DMZ), part of DCH Steel Group of DCH businessman Oleksandr Iaroslavskyi, according to the results in 2021 received a net profit of UAH 1 billion 725.157 million, while finished the year 2020 with a net loss of UAH 394.091 million.
According to the note attached to the agenda of the annual meeting of shareholders, scheduled for December 22, which will be held remotely, the outstanding loss at the end of last year was UAH 826.728 million.
The shareholders intend to summarize the results of the activity in 2021, approve reports and direct the received profit to redeem the losses of the previous years.
The meeting will also consider personnel matters: dismissal of members of the Supervisory Board and Revision Commission and election of new ones.
Besides, the shareholders will elect the company auditor and approve the major transactions.
DMZ specializes in the production of steel, pig iron, rolled steel and rolled products.
On March 1, 2018, DCH Group signed an agreement to purchase Dneprovsky Metallurgical Plant from Evraz.
According to NDU as of the fourth quarter of 2020, Drampisco Limited (Cyprus) owns 97.7346% of DMZ shares.
The authorized capital of PrJSC is UAH 574.994 mln, the nominal value of one share is UAH 0.25.

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“Yuzhkoks” made UAH 1.3 billion in profit

PJSC Yuzhkoks (Kamenskoye, Dnipropetrovsk region) last year received a net profit of UAH 1 billion 292.672 million in net profit, while the previous year there was a net loss of UAH 632.050 million.
According to the official information of the company to the agenda of the annual meeting of shareholders, scheduled for December 21, which will be held remotely, at the end of 2021 its undistributed profits amounted to 1 billion 507.635 million UAH.
According to the draft decision of the meeting, the shareholders intend to summarize the work in 2021, choose an auditing company and distribute profits.
It is suggested to leave the profit received in 2021 undistributed.
Dashuria Ltd. owns 94.9565% of the company as of the fourth quarter of 2020, according to the NDU.
Metinvest B.V. (Netherlands) reported in a 2018 report that the company acquired a 23.71% stake in Yuzhkoks for $30 million.
The authorized capital of PJSC “Evraz Yuzhkoks” – 171.918 million UAH, the par value of the share – 0.25 UAH.

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Sukhaya Balka mine increased net profit by 3.62 times

Sukhaya Balka mine (Krivoy Rog, Dnipropetrovsk region), which belongs to Oleksandr Iaroslavskyi’s DCH group, increased its net profit in 2021 by 3.62 times compared with the previous year – up to UAH 1 billion 326.460 million from UAH 366.802 million.
According to the official information of the company to the agenda of the annual meeting of shareholders, scheduled for December 22, which will be held remotely, the undistributed profits at the end of last year amounted to 3 billion 418.682 million UAH.
The shareholders intend to summarize the results of work in 2021, approve reports and approve significant transactions of the company.
The draft resolution proposes to use the profit to replenish working capital.
At the meeting, there will be considered staff issues: termination of the power of the current members of the Supervisory Board and the Audit Committee and election of new members.
As reported, the Sukhaya Balka mine in 2020 decreased its net profit by 59.7% compared to the previous year – to 366.802 million UAH from 909.636 million UAH.
DCH Group acquired the mine from Evraz Group in May 2017.
Sukhaya Balka mine is one of the leading mining companies in Ukraine. It mines iron ore using the underground method. The mine includes the Yubileynaya and Frunze mines. Frunze.
“Sukhaya Balka” specializes in the extraction and production of marketable iron ore, which includes sinter ore (iron content 56-60%) and blast furnace ore (47% – 50%).
According to the NDU for the fourth quarter of 2021, Yaroslavskyy, who is listed as a citizen of the United Kingdom and a non-resident of Ukraine, directly owns 77.4193% of the mine, and a resident individual, Artem Aleksandrov, owns 20%.
The charter capital of Sukhaya Balka is UAH 41.869m, and the par value of a share is UAH 0.05.

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“Ovostar Union” made $2.4 mln net profit

Agro-industrial group of companies Ovostar Union, one of the leading producers of eggs and egg products in Ukraine, in January-September 2022 received $2.39 million in net profit, down 16.1% compared to the same period in 2021.
According to the company report published on the Warsaw Stock Exchange website, Ovostar’s revenues fell 4.3% to $90.29 million in the reporting period, while its gross profit rose 41.1% to $15.46 million and operating profit rose 63.1% to $3.63 million.
At the same time, because of negative exchange differences of $27.55 million, the cumulative loss was $25.16 million, while in the first nine months of last year the exchange differences were positive – $6.74 million, which led to a cumulative profit of $9.59 million.
The report forecasts that egg production in 2022 will decline 14.1% to 1.452 billion eggs.
“Ovostar clarified that its 9-month revenue in the egg segment was down 3.5% to $62.76 million and 6.1% in the egg products segment, to $27.53 million.
At the same time, export revenues increased 31.6% to $37.5 million, including a 40% increase in the egg segment to $21.91 million and a 21.3% increase in the egg products segment to $15.59 million.
The amount of the company’s free cash flow at the end of September was $5.93 million, compared to $2.44 million at the beginning of the year and $0.62 million a year ago, while in Ukraine it has decreased from $1.96 million to $0.90 million since the beginning of the year.
The company’s loan debt stood at $10.8 million, compared to $12.88 million at the beginning of the year and $10.09 million a year ago.
According to the report, by the end of September 2022, Ovostar Union shares were owned by: Prime One Capital Limited (67.93%), controlled by Ovostar CEO Boris Belikov and Chairman Vitaly Veresenko; Generali Otwarty Fundusz Emerytalny (11.93% vs. 10.93% at the beginning of the year), Fairfax Financial Holdings Limited (9.09% vs. 10.39% at the beginning of the year), Aviva Otwarty Fundusz Emerytalny (5.02%).
Ovostar Union Group is a vertically integrated public holding company, one of the leading producers of chicken eggs and egg products in Europe. The producer has been a certified exporter to the EU since 2015.
The group’s holding company, Ovostar Union N.V., held a 25% IPO on the Warsaw Stock Exchange in mid-June 2011 and raised $33.2 million. The majority stake in the company is owned by Prime One Capital Limited, which is controlled by its CEO Boris Belikov and Chairman of the Board Vitaliy Veresenko.
“Ovostar reported a net income of $2.6 million in 2020 compared to a net loss of $20.0 million in 2019. Its revenue last year was down 5% to $98.9 million.

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PJSC “Promarmatura” in 2021 received UAH 13.2 mln of profit

PJSC “Promarmatura” (Dnipro) following the results of work in 2021 received a net profit in the amount of UAH 13,212 mln. and finished the year 2020 with a net loss of UAH 3,917 mln.
According to the note to the published agenda for the annual general meeting of shareholders, which will be held remotely on December 13, 2022, the company’s undistributed profits at the end of last year amounted to 149.208 million UAH.
The shareholders intend to summarize the results of 2021 and distribute profits received last year. According to the agenda, it is proposed not to distribute profits and not to pay out dividends for 2021.
Besides, the meeting intends to preliminarily approve major transactions.
The company “Promarmatura” was founded in December 1994 and is on the market of pipeline valves.
According to the NDU as of the end of 2021, two individuals – Ukrainian citizens Igor Mezhebovsky and Alexander Chelyadin – each hold 50% of the company.
The charter capital of the company is UAH 7.218 mln.

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“Ukrgraphite received UAH 1.6 mln of profit

PJSC “Ukrainian Graphite” (Ukrgraphite, Zaporizhia) in January-March of the current year received a net profit of UAH 1.649 mln, while the company finished the similar period of the last year with a net loss of UAH 111.830 mln.
According to the interim report of the company, over this period net income decreased by 7.4% – to UAH 491.581 mln.
Undistributed profits made up UAH 3 bln 528.788 mln at the end of March 22.
As it was reported, in 2021, Ukrgraphit increased its loss by 2.2 times compared to the previous year – up to UAH 317.514 mln from UAH 144.408 mln.
“Ukrgraphite is Ukraine’s leading producer of graphitized electrodes for electric steel-making, ore-thermal and other kinds of electric furnaces, commodity carbon masses for Soderberg electrodes, carbon-based lining materials for metallurgical, machine-building, chemical and other industrial complexes.
According to the National Depository of Ukraine (NDU) as of the fourth quarter of 2021, Intergraphite Holdings Company Limited (Bermuda) owns 23,9841% of PrJSC, C6 Safe Group Limited (Cyprus) – 72,0394%.
The authorized capital of PrJSC – 233,959 million UAH, nominal value of 1 share – 3,35 UAH.

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