Metals and Mining

According to investor relations, the March 20 AGM of Centralnyy GOK [CGOK UZ, N/R] decided to declare exactly USD 62.4 mln in dividends for 2008.

According to unconfirmed reports from our sources, the March 20 AGM of Pivnichnyy GOK [SGOK UZ, N/R] decided to declare about USD 138 mln in dividends for 2008.

The Dnipropetrovsk Pipes Plant [DTRZ UZ, N/R] has announced an AGM for April 28.

Poltava GOK [PGOK UZ, U/R], also called Ferrexpo Poltava Mining, announced an AGM for April 24. The AGM invitation included data on FY08 net income, - UAH 614.5 mln (USD 116.6 mln), which is up 80% YoY (73% in dollar terms).

Ukrainian pipes and tubes production for February, 126.7 thsd mt, is up 51% MoM. The 2M09 production volume, 210.7 mln mt, is, however, 50% down YoY.

The Interpipe Novomoskovsk Pipe-Production Plant [NVTR UZ, U/R] announced an AGM for April 09. There are no extraordinary questions on the agenda.

The Joint Venture Metalen LLC, which, together with OJSC Enakievo ISW [ENMZ UZ, U/R], comprise the so-called Enakievo ISW Group, has released its preliminary FY08 financials.

The annual report of Energomashspetsstal [ENMA UZ, N/R] shows that the company’s FY08 net loss amounted to UAH 200.3 mln (USD 38.0 mln at the period’s average USD/UAH 5.27). In 2007, Energomashspetsstal demonstrated a net income of UAH 10.2 mln (USD 2.02 mln).

Dniprodzerzhynsk Coke [DZKZ UZ, N/R] reported a FY08 net income of UAH 58.4 mln (USD 11.1 mln at the FY08 average of USD/UAH 5.27). The data was reported by Interfax-Ukraine in relation to an April 16 AGM invitation. The selected topics on agenda of the AGM, as reported by Interfax-Ukraine, do not include any extraordinary items.

Dnipropetrovsk Iron & Steel Works named after Petrovsky [DMZP UZ, U/R], or Petrovka, reported a FY08 net loss of UAH 381 mln (USD 72.3 mln at the FY08 average of USD/UAH 5.27). The data was reported by Ukrainian News, likely as an item on an AGM agenda. The news agency did not report the date for the AGM; we estimate it to be around April 16.