Page 84 - UKRRptNov21

Ukraine’s aviation engine producer Motor Sich (MSICH UK) generated UAH9.70bn of net revenue in 9M21, up 26% y/y, according to its interim report published on October 29. Meanwhile, its EBITDA decreased 22% y/y to UAH1.87bn and net profit decreased 1% y/y to UAH0.92bn. Its operating cash flow was negative UAH0.03bn in 9M21 (vs. positive UAH0.86bn a year ago), which is mostly the result of a large prepayment made (UAH7.23bn, up 59% y/y) amid a 36% y/y decrease in prepayments received (to UAH3.58bn). Its cash outflow for investments increased 54% y/y to UAH0.18bn. The company’s end-September net debt amounted to UAH1.23bn, up 36% YTD.
Aircraft construction and repair was the fastest growing sector for Ukroboronprom, the military production conglomerate. The sector, which includes Antonov, grew by 52% yoy for the first nine months of this year. High precision weapons came in second, growing by 40%. Overall, Ukroboronprom production grew by 27% during the first three quarters of this year.
NEQSOL Holding to become a shareholder in the leading Ukrainian cement producer, Ivano-Frankivskcement PJSC. The cross-border investor, NEQSOL Holding, has announced its interest in expanding its investment portfolio in Ukraine by entering the construction materials market. The company is in the final stage of negotiations with the current shareholders of Ivano-Frankivskcement PJSC
Siemens doubles turnover in Ukraine. The German industrial firm has doubled the volume of orders and turnover in the 2021 fiscal year (October 2020 – September 2021) has in comparison with FY2020. The CEO of Siemens Ukraine, Maciej Tomasz Zielinski, has said. “Despite the COVID-19 pandemic, supply chain difficulties associated with supply disruptions, rising prices for materials 2021 turned out to be excellent from a financial point of view and the implementation of the set goals.”
Ukroboronprom increased production volumes by almost UAH 6 billion ($228 mln) to UAH 26.83 bln ($1.01 bln) for the first 9 months of 2021.
This compares to UAH 21.05 bln ($800 mln) for the same period in 2020. If for 6 months of this year production volumes increased by UAH 2.7 bln ($102 mln) or 19.5% compared to the same period last year, then for 9 months of this year the increase amounted to UAH 5.78 bln ($220 mln) or + 27.4%.
84 UKRAINE Country Report November 2021 www.intellinews.com