Page 59 - UKRRptJune18

9.2 Major corporate news 9.2.1 Oil & gas corporate news
Ukrnafta net profit 17.7 times greater in Q1, 2018 than in 2017. Ukrnafta saw net profit rise by 17.7 times (UAH1.190bn) in January-March 2018 compared to the same period last year, to UAH1.261bn. According to a company report Ukrnafta’s net income for the first quarter of this year increased by 25.9%, to UAH8.268bn, and gross profit by 49.6%, to UAH4.819bn. Naftogaz Ukrainy owns a 50% plus one share stake in Ukrnafta, the former shareholders of PrivatBank (Kyiv) hold about 42% of the shares.
Ukraine's biggest state-controlled oil producer Ukrnafta failed to reduce its tax debt to the state in January-March : the debt rose 2% quarter-on-quarter to UAH13bn ($494mn). The result was reported by the company against a background of a 26% year-on-year increase in net profits (to UAH8.27bn) in the first quarter. The company's Ebitda stood at UAN2bn (tripled y/y) in January-March. "It looks like all the operating profit generated by Ukrnafta went to finance its working capital (the company did not provide its cash flow results)," Alexander Paraschiy at Kyiv-based brokerage Concorde Capital believes.
9.2.3 Aviation corporate news
The net loss of Ukraine International Airlines (UIA) stood at UAH304.5mn ($11.6mn) in 2017 against the company's UAH387.9mn net profit in 2016, according to a company annual report in the information disclosure system of the National Securities and Stock Market Commission.
Ukraine, Turkey to build an An-188 military transport aircraft. The two neighbours are planning a joint project to build an An-188 military transport aircraft, according to the Ukrainian government portal. “The military transport aircraft project involves the full westernization of all components, the introduction of modern and reliable technical solutions, as well as full compliance with NATO standards, both in terms of equipment and in terms of the tactics of the use of the aircraft," the report reads. The aircraft will be able to carry military hardware of all types, military and construction equipment, helicopters, up to 300 soldiers, as well as humanitarian cargoes, pallets and containers. Interfax-Ukraine reports.
9.2.4 Construction & Real estate corporate news
GEFCO aims to triple warehouse capacity in Ukraine. GEFCO Ukraine, a logistic operator, and representative of France’s GEFCO Group, plans to triple its leased warehouse facilities in Ukraine in 2018, to 15,000 square meters, utilizing new premises in Kyiv and the region. “We are planning to triple the warehouse space in Kyiv city and region, but we are also considering Odesa and Dnipro. The main customers of these warehouses are spare parts and machinery (automobile, agricultural and household appliances), FMCG has already appeared.” GEFCOS Director General announced, Interfax-Ukraine reports.
59 UKRAINE Country Report June 2018 www.intellinews.com