Daily monitor

Darnytsa [4SI1,GR] the leading Ukrainian pharmaceutical producer, increased 2008 net profit by 81% YoY up to UAH 37.8mln. Net Sales increased by 11.4% up to UAH 413.3 mln. Gross Sales increased by 32,8% to UAH 155.8 mln.

On May 8, EU leaders and the representatives of Ukraine, Georgia, Moldova, Belarus, Azerbaijan and Armenia announced in Prague the formation of the EU’s Eastern Partnership program.

Astarta [AST PW, BUY], the top sugar producer in Ukraine, with market share of 15%, posted its audited annual results for 2008. Key highlights: net revenues increased by 3.5% YoY to USD 126.1 mln (UAH970.7 mln +50% YoY); EBITDA denominated in USD decreased by 30% YoY and amounted to USD 30 mln (UAH223.5 mln +4.5% YoY). Astarta posted a net loss of USD 9.9 mln.

Yasinovatskiy Machinery Plant [YAMZ UZ, N/R], a Ukrainian maker of mining machinery equipment, produced a net loss of USD 12.5 mln in 2008. According to the company information, YAMZ ended 2007 with net profit USD 0.05 mln. Net sales in 2008 increased by 49.8% to USD 36.9 mln.

Ukrros [36U1 GR, HOLD], the number two sugar producer in Ukraine, with a market share of 12.7% in 2008, held a meeting to update analysts on its annual financial and operational results.

According to a press release issued by the Azovmash holding, which includes freight railway producers Azovhalmash [AZGM UZ, U/R] and Mariupol Heavy Machinery Plant [MZVM UZ, U/R], the company ended 1Q09 with a net profit of UAH 0.655 mln. Net sales for the same period decreased by 23.4% to UAH 14,511 mln.

The State Property Fund of Ukraine sold its 27% stake in Lvivoblenergo [LVON UZ, BUY] to a local equity trader, TEKT Trade, for UAH 197 mln (USD 26 mln). Two companies were bidders and the deal price did not rise much compared to the SPF’s initial price of UAH 171 mln for the 27% stake in LVON..

According to a press release Ukrsotsbank[USCB UZ, U/R] has increased its statutory capital by UAH 200 mln to UAH 1.27 bln. The bank issued 2 bln shares, each with a par value of UAH 0.1. Shares were sold at a price of UAH 0.25, therefore the bank’s equity was increased by UAH 500 mln to UAH 5.75 bln.

According to a press release issued by the Bogdan Automobile Plant [LUAZ UZ, U/R], the company ended 1Q09 with a net loss of UAH 42 mln (USD 5.45 mln). Net sales for the period increased by 80.64% to UAH 355.4 mln (USD 46.2 mln).

The Kharkiv-based OJSC Turboatom [TATM UZ, HOLD] – the largest turbine manufacturer in Ukraine and – has announced its financial results in 1Q2009: net sales grew by 60.4% to UAH 185.6 mln; net profit decreased by 4.7% to UAH 26.2 mln.