Daily monitor

Poltavaoblenergo [POON UZ, BUY] ended 2009 with a UAH 55.4 mln (USD 6.9 mln) net income, which is 2.8 times more than the 2008 result. Other results: EPS total UAH 0.25, net margin 3.1%, PER2009 12.0. The Company’s net sales in 2009 grew by 35% and totalled UAH 1758.5 mln (USD 219.8 mln).

According to information disclosed by Zaporizhstal [ZPST UZ], the Company ended FY2009 with a net loss of UAH 290.5 mln, compared with UAH 47.7 mln in net income in 2008.

Nord Star Pharmashare [4SI1 GR], the majority shareholder of the leading Ukrainian pharmaceutical company ‘Darnytsia’, introduced good figures in relation to its 2009 performance and plans for next year at a meeting with equity analysts. Notably, the Company’s net sales grew by 37% YoY to UAH 576 mln.

Sintal Agriculture [SNPS GR] has commenced construction of a new silo in the Kharkiv Region, with a projected capacity of 115 thsd tonnes. Construction is scheduled for completion by 2011, while the first stage – the elevator – should be finished in May 2010. According to the Holding’s CEO, Vadym Mohyla, the Company is in the process of finalizing the purchase of another silo in the Crimea, as well as of the expansion of its land bank in the Kherson region.

Turboatom [TATM UZ, BUY], Ukraine’s largest turbine producer, intends to supply turbine equipment to the Thailand-based Thak Ba HPP. The shipment according to this current deal is to be completed in 2011.

Sumy Frunze Machine Building [SMASH UZ, U/R] has announced that it plans to deliver compressor equipment for Gazprom worth a total value of USD 30 mln, as reported by the Company’s press service. According to the terms of this contract, SMASH is to produce three GPU with a total power of 48 MW, as well as ten units of compressor equipment for GPU modernization.

The State Property Fund intends to sell a 76% stake in Luhanskteplovoz [LTPL UZ, HOLD] in March 2010. Earlier, the registrar of the ‘Center-Registrar’ securities company transferred a 76% stake in Luhanskteplovoz from the account of the ‘Bryansk Engineering Works’ Asset Management Company, which is part of TMH, to the State Property Fund (SPF). Prior to that, the Economic Court of the Luhansk Region had ordered ‘Center-Registrar’ to return the 76% stake in Luganskteplovoz to the State Property Fund.

According to a press service by Mariupol Illich ISW [MMKI UZ], the Company ended FY2009 in the red, reporting a net loss of UAH 255 mln, compared with UAH 1.36 bln in net income in 2008. Its total assets, equity, current liabilities and long term financial investments remained almost flat. At the same time, retained earnings have diminished from UAH 1.46 bln to UAH 97.4 mln, while accounts receivables contracted by 11.9%, and cash by 22.5%.

Astarta [AST PW, BUY], a major vertically-integrated agro-holding with a stronghold on the Ukrainian sugar industry, has announced plans to expand its agricultural machinery fleet in 2010. The Holding intends to invest USD 10 mln in purchasing more than 90 units of modern agricultural machinery and equipment from leading EU and US producers. This program is being financed through long-term loans.

Azovmash, the largest Ukrainian machinery holding, has reported on the successful shipment of equipment for the blast-furnace of the U.S. Steel Serbia plant. Azovmash has not disclosed the monetary value of the agreement.