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moneymaking lines were: Kriviy Rih-Moscow, 82% full, netting $3.7mn; Odesa-Moscow, 83% full, netting $2.1mn; Odesa- Przemysl, Poland, 75% full, netting $850,000; and Kyiv-St. Petersburg, 58% full, netting $615,000.
9.2.4 ​Construction & Real estate corporate news
In the first electronic auction for commercial space in Kyiv’s Boryspil airport, the rental rate soared 19-fold from the asking price. ​“More than $1,000 per square meter,” Infrastructure Minister Vladyslav Krikliy wrote on Facebook. “Probably a historical record for commercial real estate in Ukraine,” he wrote of the 191-square meter space in the future duty free space of Terminal F. Reopened last April, this low cost carrier terminal is expected to handle over 5mn passengers this year. The ministry intends to hold electronic auctions for 32 more airports spaces, some as small as two square meters for one ATM machine.
Kyiv’s Hotel Dnipro, the 13-story Soviet era landmark at the European Square end of Khreshchatyk Street, will be auctioned this spring at a starting price of $10mn​, the State Property Fund announced Tuesday. Built in 1964, the 186-room hotel features the Panorama Restaurant, a top floor dining room with romantic views of the Kyiv Hills and the Dnipro River. To get the hotel in shape for privatization, the Fund appointed as director, Elina Sapozhkova, a hotel professional with experience in opening and developing hotels of Rezidor Hotel Group, IHG, and Hilton Hotels & Resorts. In 2018, the hotel has $2mn in revenues.
9.2.5​ Retail corporate news
9.2.6​ Agriculture corporate news
Supermarket chain Novus plans to open 10 new stores in Kyiv by the end of 2021​, Ihor Landa, CEO of BT Invest Ukraine, the company that runs Novus, tells Interfax-Ukraine. He says the chain plans to expand because purchasing power is growing in greater Kyiv, now home to 10% of Ukraine’s population. Novus has 750 unfilled job vacancies.
● Kernel
Ukraine’s largest sunflower oil producer Kernel (KER PW, KERPW) generated EBITDA of $109mn in 2QFY20 ​(September-December 2019), a 15.5% y/y decline and a 1.9% qoq increase, according to its financial report published on February 28. ​ ​The company’s key segment, oilseed processing, generated EBITDA of $39mn in 2QFY20, flat y/y and a 69.6% qoq jump. The company’s EBITDA per ton of oil rose 8.7% y/y to $113, or a 52.7% surge qoq in 2QFY20. Its infrastructure and trading segment EBITDA rose 52.5% y/y (and a 74.3% qoq jump) to $61mn, while the company’s farming segment EBITDA declined 69.4% y/y (and a 67.2% qoq decrease) to $19mn in 2QFY20. Kernel’s revenue slid 8.9% y/y to $1,016mn (or 20.0% more qoq) in 2QFY20. Its oilseed processing segment revenue decreased 3.9% y/y (or 23.3% growth qoq) to $365mn in 2QFY20 and its infrastructure and trading segment revenue decreased 0.9% y/y (or 25.3% more qoq) to $866mn in 2QFY20. Its farming segment generated $188mn of revenue in 2QFY20, which is 10.9% less y/y and 39.3% more qoq.​ ​In 1HFY20, the company’s revenue decreased 16.4%
61​ UKRAINE Country Report​ March 2020 ​ ​www.intellinews.com