Page 73 - UKRRptNov20

13% qoq). Meanwhile, its cash received for goods sold reached UAH1.05bn in the quarter (up 12% y/y and up 96% qoq) and prepayments for goods reached UAH2.26bn (up 64% y/y and up 15% qoq).​ ​In its comments to its financial report, the company said the bottom line improvement was the result of cost-cutting measures and focusing on projects that have a short payback period. Meanwhile, management highlighted that improvements in P&L and liquidity do not look sustainable.​ ​Motor Sich’s gradually improving P&L results look especially encouraging amid the huge uncertainty related to the company’s governance and ownership structure. And especially encouraging is the increasing amount of prepayments that the company has received for future goods, which indicates its order book is growing despite all the apparent troubles. With such results and prospects, the company would have looked like a bright spot in Ukraine’s local equity universe, if not the fact that its shares remain banned from trading, with unclear prospects of resolving the issue.
Danish company Hjort Knudsen announced locating its production facilities in Rivne​. The project is estimated at EUR 11 million and envisages the creation of 1000 jobs. The investor plans to create an added-value closed-loop production with environment-friendly production facilities. The project will accelerate the development of the furniture cluster and stimulate the growth of the related industries.
A fire has burned almost half of Europe’s largest ski manufacturer, in Mukachevo, Zakarpattia​. Tuesday’s three-hour, pre-dawn fire, burned 9,000 square meters of the production facilities and warehouse of Fischer Sports GmbH, reports Industrialfireworld. Austria-based Fischer produced 85% of its skis at the Mukachevo plant. Fischer says it accounts for one quarter of the international ski market.
73​ UKRAINE Country Report​ November 2020 ​ ​www.intellinews.com