Daily monitor

In January-November 2010 Bogdan Corporation, owner of Bogdan Motors [LUAZ UK], has produced 16.3 thsd cars which is a 20.1% YoY increase. YoY production increase in November accounted 53%.

Agroton Public Ltd [AGT PW, N/R], a diversified vertically integrated agricultural producer in eastern Ukraine, has published its healthy financial results for 9M2010: revenue increased by 31% YoY to 92.1 mln, EBITDA and EBITDA margin increased by 52% YoY and by 6 p.p. to USD 37.7 mln and 41% respectively and net income increased by 105% YoY to USD 24.8 mln.

Azovmash, proprietor of Azovzagalmash [AZGM UK] and Mariupol Heavy Machinery [MZVM UK] has increased sales 2.7 times YoY to USD 730 mln. Production of train cars has increased 2.3 times to 10.6 thsd units.

Agricultural companies in Ukraine harvested 41.5 mln tonnes of grain and leguminous crops as of December 3, with an average yield of 2.85 tonne per ha. Agricultural companies processed about 14.6 mln ha of sowing area this season. Agrarians have sown 9.3 mln ha with winter crops: 6.65 mln ha with wheat, 1.22 mln ha with barley, 0.32 mln ha with rye and 1.4 mln ha with rape.

MHP [MHPC LI, U/R] has harvested 211.5 thsd tonnes of wheat in 2010 (+1.7% YoY). Despite adverse weather conditions, the Company has achieved good yields. Average yield of wheat is 4.8 t/ha, corn – 7.8 t/ha, sunflower – 2.6 t/ha. Corn and sunflower harvest results will be announced shortly.

PepsiCO Inc. [PEP US] agreed to buy 66% stake in Wimm-Bill-Dann [WBDF RU] for USD 3.8 bln (USD 132 per share) and plans to make an offer to the rest shareholders.

During January-October 2010 Ukraine has decreased export of steel pipes by 12.9% YoY to 1.01 mln tons with total cost of USD 1.04 bln. Share of export over the period accounted 72% of total Ukrainian steel pipe production. MoM steel pipe export increase in October amounted 18.5%.

During January-November 2011 Ukrainian pipe rolling companies have increased production of steel pipes by 6.2% YoY to 1.57mln mt. Nyzhnyodniprovsk Pipe [NITR UK] increased production by 46%, Novomoskovsk Pipe [NVTR UK] – by 15.3%, Dnipropetrovsk Pipe [DTRZ UK] – by 49.5%, Khartsyzk Pipe [HRTR UK] decreased production by 49.8% YoY.

Milkiland [N/R], a diversified dairy producer operating in Russia and Ukraine, has placed 22.4% of its shares on the Warsaw Stock Exchange at a price of PLN 33.78 (USD 10.9). The company has raised PLN 236 mln (about USD 76.15 mln) in the IPO by selling 6.25 mln newly issued shares and 0.75 mln existing shares. Proceeds from the sale of new shares of PLN 211 mln (USD 68.09 mln) will be used for the next stages of the investment program and for funding of new acquisitions and new projects.

Azovmash, owner of Azovzagalmash [AZGM UK] and Mariupol Heavy Machinery [MZVM UK] plans supplying Mariupol Metallurgical Plant [MMKI UK] with 5 ladles 160 tons each. 3 ladles, 90 tons each were contracted by Dniprospecstal Metallurgical Plant [DNSS UK]. Equipment was also supplied for Dneprovskiy Metallurgical Plant [DMKD UK], Azovsteel [AZST UK] and Chelyabinsk Metallurgy (Russia).