Page 68 - UKRRptJun20

expectations, we decided to process and deliver already registered orders and temporarily limit the ability to process new ones,” IKEA tells Interfax-Ukraine. “We are doing everything possible to restore the website as soon as possible.”
China’s ZTE Corporation, a major telecom equipment manufacturer, signed an agreement yesterday to become the first tenant of Ecopolis KhTZ, the industrial and technology park Alexander Yaroslavsky is developing in part of his Kharkiv Tractor Plant​. Speaking by video link from ZTE headquarters in Shenzhen, Vice President Xue Bin said the project “is in tune with the main tasks of ZTE in Ukraine and in the global market.” He did not outline ZTE’s investment plans. With revenue last year of $12.5bn, ZTE is major manufacturer of 5G telecommunications systems and smartphones. On the R&D side, the company has been one of the top five global leaders for patent applications over the last decade.
In April, at the height of the Covid-19 lockdown, Foxtrot’s online store quadrupled its turnover y/y,​ reports Kirill Popov-Cherkasov, e-commerce director for the company. In April, 8.5mn visits were recorded at the website of Foxtrot, which specializes in home appliances.
9.2.9 ​Utilities corporate news
Ukraine's ​DTEK​ energy group, owned by tycoon Rinat Akhmetov, has complained about unfair regulations in the country's power industry, RBC Ukraine reported on May 21. Government regulation introduced in September 2019 has had a negative impact on the Ukrainian power sector, DTEK said in a statement, quoted by RBC Ukraine. "Systemic administrative intervention in the market, which began in September 2019, has had a negative impact on the energy industry," reads the statement. "Artificial restrictions on electricity producers, manual regulation and interference in the energy market, lack of responsiveness to manipulation that systemically distort market competition: all this has led to the largest energy crisis in the history of independent Ukraine." According to DTEK, the crisis in the electricity market has destabilised the work of all enterprises in the energy sector of Ukraine without exception.
9.1.10 ​Renewables corporate news
DTEK Renewables, the green energy subsidiary of​ ​DTEK​ Group, reported net revenue of UAH4.89bn (up 96% y/y) and gross profit of UAH3.25bn (up 85% y/y) in 2019​, according to its annual results published on May 29. Its operating profit gained 60% y/y to UAH2.50bn and net profit jumped 119% y/y to UAH2.85bn. The company’s EBITDA advanced 111% y/y to UAH3.88bn, according to Concorde Capital estimates.
The firm's end-2019 debt amounted to UAH21.67bn, implying a total debt/EBITDA ratio of 5.6x (down from 6.5x a year before).
In euro terms, DTEK Renewables’ revenue advanced 118% y/y to €168.8mn, EBITDA jumped 134% y/y to €134.1mn and its bottom line surged 143% y/y to €98.3mn.
During 2019, the company provided net loans to related parties in the amount of UAH1.53bn, and its net lending to related parties amounted to UAH3.26bn
68​ UKRAINE Country Report​ June 2020 ​ ​www.intellinews.com