Daily monitor

In January, Alchevsk Coke [ALKZ UZ, N/R] increased output of 6%-humidity gross coke by 8% MoM to 274 thsd mt, according to Ukrainian News. In comparison with the average FYM08 monthly output of 278 thsd mt (up 3% YoY), the January volume was down 1%.

Luhanskteplovoz [LTPL UZ, U/R], one of the largest locomotive producers in Ukraine and the CIS, increased sales in 2008 by 2.6 times YoY to about UAH 1.284 bln. This estimate is based on preliminary data and was released by a company source to Interfax-Ukraine.

The Volyn Cement [VOLC UZ, U/R] plant, a member of the Dyckerhoff Zement group that operates in Zdolbuniv, Rivne Region, announced that it decreased its net profit in 2008 by 21% YoY, which is down to UAH 144.404 mln.

According to Ministry of Property, all documents for the privatization of Ukrtelecom [UTEL UZ, U/R] are ready.

State shares of Chernigivoblenergo [CHEON UZ, BUY], Lvivoblenergo [LVON UZ, BUY], Odesaoblenergo [ODEN UZ, BUY], Poltavaoblenergo [POON UZ, BUY], Prykarpatoblenergo [PREN UZ, BUY], and Sumyoblenergo are valued at approximately UAH 1 bln (USD 129 mln), according to Acting Head of the State Property Fund of Ukraine, Dmitriy Parfenenko, in an interview yesterday with the Ukrainian 5th Channel. The state holds 25% stakes in CHEON, ODEN, POON, PREN and Sumyoblenergo, respectively, and a 27% stake in LVON.

Kovelmoloko [KMOL UZ, U/R], a Ukrainian dairy producer that is affiliated with the Western Milk Group, decreased its net income by 2.4 times to USD 0.19 mln in 2008. The company’s assets increased by 41% to 58.7 mln. Kovelmoloko is going to hold an AGM on March 27, 2009 in order to review its 2008 financial results.

According to an announcement by the National Bank of Ukraine, the money base fell 3.6% to UAH 180 bln (USD 23.4 bln), while the money supply fell 4.6% to UAH 491.8 bln (USD 63.9 bln), in January.

The ampoule line capacity at Galytchpharm constitutes 200 mln ampoules a year. The company’s modernization project has been in effect since 2004. In order to upgrade its ampoule production capacities, the Arterium Corporation has spent a total of USD 5.01 mln.

January 2009 saw another sharp fall in Ukrainian electricity production (-14.6%) and net consumption (-15.4%) compared to January 2008. The worse performance among the electricity generators was shown by the fossil-fuelled power plants: -17.5% YoY.

Volynoblenergo [VOEN UZ, BUY], a west Ukrainian electricity distribution company, ended last year with a UAH 6.5 mln (USD 1.2 mln) net income, which is a 136% gain compared to 2007 results.