The net profit received by agricultural, forestry and fisheries enterprises in 2020 amounted to UAH 81.1 billion (11% down compared to 2019), this value exceeded the profitability indicators of other types of economic activity in Ukraine, the National Scientific Center Institute of Agrarian Economics (IAE) said on its website on Tuesday.
“Last year, 82.6% of enterprises in the industry saw UAH 107.9 billion of net profit, while only 17.4% of enterprises ended the year with losses of UAH 26.8 billion. This is the best indicator among all types of economic activity, where on average there were 71.0% of profit-making and 29.0% of loss-making enterprises,” Director of the IAE Yuriy Lupenko said.
The IAE recalled that the net profit of agricultural enterprises in 2019 amounted to UAH 91.3 billion, and the share of profit-making enterprises – 83.0%, while in the whole economy it was UAH 671.9 billion and 74.0%, respectively.
“So, at the end of 2020, the profits of agricultural enterprises decreased by almost UAH 10 billion, while maintaining a high share of profit-making enterprises,” Lupenko said.
In addition to agriculture, the largest net profit to the Ukrainian economy in 2020 was brought by enterprises of the financial sector and insurance activities (UAH 25.3 billion); repair of vehicles (UAH 22.2 billion); healthcare and social assistance (UAH 18.9 billion); transport, warehousing, postal and courier activities (UAH 18.0 billion); information and telecommunications (UAH 14.3 billion).
According to the IAE, the most significant losses were incurred in the past year by industrial enterprises (UAH 39.8 billion of loss) and the real estate industry (UAH 35.2 billion). The share of profitable enterprises in the agro-industrial complex significantly exceeds this value for other sectors of the economy. In particular, the share of profitable enterprises in the field of healthcare and social assistance amounted to 75.6% of their total number, repair of motor vehicles and motorcycles – 74.1%, transport, warehousing, postal and courier activities – 71.3%. At the same time, the smallest number of profit-making enterprises in 2020 was in the field of art, sports, entertainment and recreation (53.4%), as well as temporary accommodation and catering (58.8%).
The net profit of state-owned Ukrgasbank (Kyiv) in January-July 2021 amounted to UAH 1.135 billion, which is twice as much as in the same period in 2020 (UAH 554 million), the bank’s press service said.
According to the report, in July the bank’s profit amounted to UAH 408 million, which is 3.4 times more than in July last year (UAH 120 million).
Ukrgasbank was established in 1993. The state, represented by the Ministry of Finance, owns 94.9409% of the shares of the financial institution.
According to the National Bank of Ukraine, as of June 1, 2021, in terms of total assets (UAH 133.5 billion) Ukrgasbank ranked fourth among 73 banks operating in the country.
Ukraine International Airlines (UIA) in January-June 2021 received UAH 21.7 million in net profit against UAH 2.9 billion in losses for the same period in 2020, the company’s press service said.
According to its data, EBITDA was fixed at UAH 1.1 billion.
“Achieving positive financial dynamics became possible thanks to the balanced policy of the UIA management to optimize costs and adapt the business to long-term restrictions on air travel due to the impact of the COVID-19 pandemic. In particular, an anti-crisis program was implemented to restructure costs, optimize staffing and minimize airline costs. This made it possible to cut UIA’s mandatory monthly operating expenses by almost three times,” the company said.
In addition, UIA added that in the context of limited flights after the spring lockdown of 2020, the company switched to flexible and short-term planning of the route network, taking into account the frequent situational changes in the rules of entry by foreign countries during 2020-2021.
As reported, UIA in 2020 posted a loss of UAH 4.5 billion.
Ferrexpo mining company with assets in Ukraine in January-June 2021 received $661.426 million in net profit, which is 2.65 times higher than in 2020 ($249.908 million).
According to the half year report of the company posted on the London Stock Exchange on Wednesday, its revenue for the reporting period grew by 74.3%, to $1.353 billion from $775.831 million.
EBITDA jumped 2.47 times, to $868 million from $352 million in the first half of 2020.
Ferrexpo’s capital investment in the first half of this year was $142 million, up from $96 million in the first half of last year.
Interim dividends amounted to 39.6 cents per share (in the first half of 2020 they were 13.2 cents).
Odesa seaport in July received a positive financial result from economic activities at the level of UAH 1.3 million.
According to the press service of the Ministry of Infrastructure, the reasons for the company’s profitability are the introduction of a balanced tariff policy, attracting new customers, reducing the company’s expenses and modernizing equipment.
The department notes that the previous periods were unprofitable for the company. In particular, a loss of UAH 9.4 million was recorded in June. Over the past six months, the total loss of the enterprise amounted to UAH 29 million.
“For the first time in the past six months, Odesa port will profit from its activities. The indicator for June in the amount of UAH 4 million is the largest since July last year. The successful result was demonstrated despite the fact that, in general, July was the month with the lowest number of ship calls since the beginning of 2021,” the ministry said.
In January-June 2021, Odesa seaport handled 10.402 million tonnes of cargo, which is 13.6% less than in the same period in 2020. In 2020, the seaport handled 23.37 million tonnes of cargo, which is 7.8% less than in 2019.
Net profit of Citibank (Kyiv) amounted in the first half of 2021 to UAH 768.7 million, which is 14.2% more than in the same period in 2020, according to the bank’s report in the information disclosure system of the National Securities and Stock Market Commission.
According to it, the bank’s net interest income decreased over the first six months by 23.4%, to UAH 596.5 million, while the net commission income – by 0.9%, to UAH 125.1 million.
At the same time, the result from transactions with financial instruments recorded at fair value increased 4.8 times, to UAH 112.9 million. Profit from transactions with foreign currency amounted to UAH 117 million versus loss of UAH 52.5 million in the first half of last year.
In addition, Citibank also decreased reserves for the depreciation of securities in the portfolio for sale by UAH 75.7 million, while in the same period last year they had to be increased by UAH 102.4 million.
The bank’s assets decreased in January-June 2021 by 3.4%, to UAH 26.9 billion, although loans and customer debt increased by 49.6%, to UAH 3.74 billion. The bank’s liabilities since the beginning of this year have decreased by 1.4%, to UAH 25.01 billion, including customer funds – by 2.2%, to UAH 24.52 billion.
The bank’s equity capital decreased in the first half of 2021 by 23.9%, to UAH 1.89 billion.
Citibank was established in 1998 and is a subsidiary bank of American Citibank NA.
According to the National Bank of Ukraine (NBU), as of May 1, 2021, Citibank ranked 15th among 73 banks operating in the country in terms of total assets (UAH 27.92 billion).
