Page 68 - UKRRptNov18

Sweden’s H&M has opened its second Ukraine store this year, in Kyiv’s Sky Mall. Two months ago, the nation’s first H&M opened in Kyiv’s Lavina Mall. According to 112.ua, during the first half of 2018, 11 new international brands entered Ukraine, including Under Armor, Inditex - Zara Home, Koton and DeFacto. Retailers returning to the market include: Lee Cooper, Hugo Boss, Baldessarini, Liu Jo, Penny Black, All Saints, and Scotch & Soda.
9.2.6 Agriculture corporate news
Allseeds , one of the largest manufacturers and exporters of vegetable oils and meals in Ukraine, mulls to list its business overseas in the next four years, the company's CEO Viacheslav Petryshche told in an interview with Reuters published on October 10. "Our plan is to hold an IPO in the next four years. We are considering Singapore, Hong Kong, Toronto. The company’s structures are ready for the IPO," Petryshche said. Allseeds would become the first Ukrainian company since 2012 to hold an overseas IPO and the first agribusiness since 2011. FMO, the Dutch development bank, and private equity firm Diligent Capital Partners (DCP), jointly own 16% of Allseeds. Meanwhile, Dan Pasko, DCP’s Co-Managing Partner told Reuters that Allseeds has an ambitious expansion strategy of becoming an agri-processing and logistics hub which would require over $200mn of investment over the upcoming years. "We are already participating in this expansion but also will be exploring all additional options to finance this strategy including a potential IPO," Pasko said. Allseeds processed 530,000 tonnes of oilseeds last season. In the 2018-19 season it plans to crush 750,000 tonnes of oilseeds and produce 350,000 tonnes of sunoil. Allseeds owns cutting-edge Multiseeds Oilseed Processing Plant with capacity of 2,400mn tonnes per day for sunflower seeds (1800mn tonnes per day for rapeseeds or 1500n tonnes per day for soybeans) in Ukraine’s deepest-water port Yuzhny. The company also provides services of transshipment of vegetable oils and oilseed meals on its own Terminals in Yuzhny were can service vessels with deadweight of over 100 000mn tonnes with draft of up to 14.6mn.
Astarta sugar sales fall 20%, key crop sales rise 2% y/y in the third quarter of 2018 Sugar sales at Ukraine’s leading sugar producer and grain farmer Astarta (AST PW) fell 20% y/y to 88.0 kt in the third quarter of 2018, according to its operating update published on October 24. Its average sugar price decreased 18% y/y to UAH10,460 per ton. Its total sale of key crops (wheat, corn, barley and sunflower) increased 2% y/y to 156.4 kt in the third quarter of 2018, while their average price increased 30% y/y in UAHterms. The company’s soybean oil sales halved y/y to 4.5 kt, while soybean meal sales rose 6% y/y to 29.2 kt. Its milk sales decreased 6% y/y to 24.3 kt and the average price grew 11% y/y in UAHterms. Its quarterly results imply that in 9M18, Astarta sales slid 18% y/y to 272.6 kt for sugar, 31% y/y to 443.5 kt for its key crops, 17% y/y to 26.3 kt for soybean oil, and 1% y/y to 107.2 kt and 78.6 kt for soybean meal and milk, respectively.
Kernel has reported its FY18 results, as well as a 1Q19 trading update. Revenues surged 11% YoY, to USD 2.4bn, while EBITDA and net income declined 30% YoY (USD 223mn) and 69% YoY (USD 56mn), respectively. The EBITDA margin declined 540bp to 9.3%, while the net margin was down 590bp to 2.3%. Operating cash flow stood at USD 82.5mn, with around USD 200mn employed in capital expenditures. Net debt for FY18 stood at USD
68 UKRAINE Country Report November 2018 www.intellinews.com