Business news from Ukraine

UKRSPECEXPORT SEES 36.6% RISE IN REVENUE

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.

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STATE-OWNED UKRSPECEXPORT HAS 2.3-FOLD RISE IN NET PROFIT

State-owned company Ukrspecexport in January-June 2018 saw a 2.3-fold rise in net profit under Ukrainian accounting standards (129.9%) year-over-year, to UAH 158.34 million. According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, its net revenue in H1 2018 grew by 24.83%, to UAH 773.12 million.
In January-March 2018, Ukrspecexport increased net profit by 69.26%, to UAH 64.38 million and net revenue – by 7.86%, to UAH 364.13 million.
Ukrspecexport is an authorized state intermediary in carrying out foreign economic activities in the sphere of exports and imports of goods and services that are subject to export control.
Since December 2010, under the government’s decision Ukrspecexport and its subsidiaries have joined the Ukroboronprom State Concern.