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9.2.3​ Transport corporate news
Ukrzaliznytsia plans to spend nearly $1bn next year on capital improvements – locomotives, freight cars, passenger cars, and electrification of two sections of track​ – Volodomyr Zhmak, the new CEO of the state railroad, said yesterday at a transportation conference. He said: “Ukrzaliznytsia is one of the foundations of the Ukrainian economy. The health of our [investment] campaign is an indicator of the health of the entire economy."
Ten Turkish and Ukrainian construction companies have applied to take part in the $200mn rebuild of Dnipro airport​, reports Kyrill Khomyakov, head of Ukrinfraproekt, the State Agency for Infrastructure Projects. Qualified companies are to take part in a competitive tender. Expected to take several years, the project involves building a new concrete runway, jet taxiing aprons, lighting, navigational aids and a perimeter fence. Next year’s budget has allocated $50mn, or one quarter of the money.
9.2.5​ Retail corporate news
For household goods, Danish chain Jysk opened 13 new stores in the first half. ​Epicentre opened seven and Leroy Merlin opened two. Chains specializing in cosmetics, electronics and clothing also expanded store networks.
The Fora supermarket chain expects to double deliveries in 2021 through delivery services, compared to this year, ​Yevhen Trishyn, Fora’s digital technologies director, told reporters recently. He said: “According to our vision of the market, the number of purchases with small and medium check will grow especially rapidly.” At several stores in central Kyiv, Glovo deliveries account for 10% of the store’s turnover.
9.2.6​ Agriculture corporate news
● Kernel
Kernel​ EBITDA more than doubles in 1QFY21. ​Ukraine’s largest sunflower oil producer Kernel EBITDA jumped 2.7x y/y to $290mn in 1QFY21 (July-September 2020), according to its report published on November 27. The company’s oilseed processing segment generated $31mn of EBITDA, or 41% more y/y in 1QFY21. The company’s EBITDA per ton of oil rose 41% y/y to $104.0 in 1QFY21. Its infrastructure and trading segment EBITDA increased 3.2x y/y to $111mn and its farming segment EBITDA rose 2.8x y/y to $161mn in 1QFY21.​ ​Kernel’s revenue rose 11% y/y to $940mn in 1QFY21. Its oilseed processing segment revenue slid 1% y/y to $293mn in 1QFY21. Its infrastructure and trading segment revenue increased 17% y/y to $811mn, while its farming segment revenue declined 33% y/y to $90mn in 1QFY21. Kernel’s net profit rose 3.4x y/y to $204mn in 1QFY21. Its operating cash flow before working capital changes increased 3.3x y/y to $189mn. The company’s net debt was $1,017mn on Sep. 30 (vs. $1,144mn a year ago) and its net debt-to-LTM EBITDA ratio improved to 1.6x from 3.3x a year ago.
● Astarta Holding
69​ UKRAINE Country Report​ December 2020 ​ ​www.intellinews.com