Business news from Ukraine


The state company for import and export of military and special purpose products and services, Ukrspecexport, which is a part of the Ukroboronprom State Concern, received revenue in the amount of UAH 1.53 billion in the first half of 2020, which is 36.6% more than over the same period in 2019, according to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission.
According to the report, Ukrspecexport saw a 2.2-fold increase in net profit, to UAH 148.95 million, over the first six months of 2020.
According to previously published report, the company’s revenue increased by 57.3%, to UAH 672.06 million, in Q2, 2020 as compared to the same period last year, while its net profit reduced by 64.3%, to UAH 14.51 million.
Ukrspecexport’s debt in advanced payments, which dropped from UAH 3.96 billion to UAH 1.96 billion in 2019, reduced to UAH 1.27 billion in H1, 2020. In general, current obligations and collaterals reduced from UAH 4.87 billion to UAH 4.55 billion, and there were no long-term liabilities.
In H1, 2020, the company had 432 employees, the same as at the beginning of the year. The total amount of salaries expense reduced by 4.7%, to UAH 136.53 million (on average, UAH 52,700 per employee per month).
In 2019, Ukrspecexport’s net profit dropped by 13.5%, to UAH 200.59 million, while its revenue increased by 2.3 times, to UAH 3.449 billion.



Vega, a large Ukrainian telecoms operator, in January-September 2019 received UAH 503 million of net income, which is 7% more than in the same period in 2018.
According to the company’s website, EBITDA for the specified period reached UAH 153.5 million, which is 21% more than last year. At the same time, the company managed to increase ARPU (average revenue per user) by 10%.
The amount of capital investment in January-September 2019 compared to the same period in 2018 rose to UAH 59.3 million. Basically, as Vega notes, funds were invested in upgrading networks and equipment.
“The priority of the company as a national telecoms operator is the continuous improvement of services in all regions of our presence. One of the main tasks in this direction is to transfer all customers who receive services via copper networks to optical ones. We have been working on this since last year and have positive results. Over 40,000 telephony and Internet subscribers have already appreciated the benefits of new technologies,” the press service of the company said citing its CEO Murat Chinar.
Vega transferred UAH 99.8 million in taxes and fees to the budgets of Ukraine.
The national telecoms operator Vega offers solutions in the field of fixed telephony, broadband Internet access and data transfer. It is part of the telecommunications sector of SCM Group belonging to Rinat Akhmetov.
Currently, Vega is present in 22 regions of Ukraine.

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The insurance companies of Ukraine in January-June 2018 collected net premiums for the amount of UAH 16.747 billion, which is 24% more than for the same period a year earlier, according to the website of the National Commission for the State Regulation of Financial Services Markets.
According to the regulator, the volume of gross insurance premiums collected by insurers for the period was UAH 23.425 billion (10.4% more).
The commission notes that an increase in gross insurance premiums was recorded for almost all types of insurance: auto insurance (KASKO, OSAGO, Green Card) by UAH 937 million, or 18.6%, life insurance by UAH 487.7 million, or 39.2%, credit insurance by UAH 442.8 million, or three times more, insurance of liability to third parties by UAH 419.7 million, or by 37.1%, insurance against accidents by UAH 316 million, or by 61%, property insurance by UAH 285.3 million, or 10%, medical insurance by UAH 263.8 million, or by 18.7%, medical costs insurance by UAH 139.6 million, or 34.7%, insurance against fire risks and risks of natural phenomena by UAH 105 million, or 5.2%.
The share of net insurance premiums in gross insurance premiums for the first half of 2018 increased by 7.8 percentage points from the same indicator of 2017 and amounted to 71.5%.
In January-June this year insurers paid UAH 5.863 billion in net insurance claim fees, which is 27% more than for the same period a year earlier. The level of net payments increased to 35% from 34.2%.

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Ukrainian coke chemical plants in January-July 2018 increased production of 6% moisture metallurgical coke by 6.1% compared to the same period last year, to 6.311 million tonnes.
The Ukrkoks association (Dnipro) told Interfax-Ukraine some 944,000 tonnes of coke were produced in July.
Ukrkoks Director General Anatoliy Starovoit said coke chemical plants continue to work as normal, providing metallurgical enterprises with coke according to the existing production plans.
“However, in recent days the demand on the part of metallurgists for the supply of coke has decreased: for example, in the last 10-15 days the daily production of gross coke was on average 25,000-26,000 tonnes, while earlier the figure stood at 28,000-29,000 tonnes. Probably, blast furnace operators are repairing the aggregates or for another reason. Coke has not been imported in recent months,” the association said.
At the same time, it is noted that imports of coking coal increased and coking plants are provided with coal in sufficient quantities.
According to preliminary data, in 2018 it is planned to increase pig iron smelting by 12.1% compared to the previous year, to 22.5 million tonnes. This volume of cast iron production requires 11.250 million tonnes of coke (an increase of 8.2% compared to 2017), which, in turn, requires 17.8-17.9 million tonnes of coking coal (an increase of 24.6%).
In 2018, the volume of supplies of coking coals of Ukrainian extraction is expected to be about 3.3 million tonnes, while 14.6 million tonnes is to be imported.
Previously, the plan for 2018 foresaw the volume of pig iron smelting in the amount of 22 million tonnes.