Daily monitor

For the first nine months of 2008, the Zaporizhia-Based Open Joint Stock Company ‘Motor Sich’ [MSICH UZ, U/R] experienced a drop in its net profit to UAH 21.57 mln – this is a decrease of 7.7 times YoY.

Luhanskteplovoz [LTPL UZ, U/R], one of the largest locomotive producers in Ukraine and the CIS, increased production 2.4 times YoY in 10M2008 to USD 172 mln in real terms. These statistics were quoted by Interfax Ukraine.

Enakievo ISW group, which includes OJSC Enakievo Iron & Steel Works [ENMZ UZ, U/R], smelted 180 thsd mt of steel in October, just 12% down MoM, according to Interfax-Ukraine. Last month’s output is only 27% below the 9M08 average of 247 thsd mt, and 35% lower than the peak 278 thsd mt output in March 2008.

Interfax-Ukraine reported steel production numbers for October. According to our calculations, the total crude steel output of Ukrainian steelmakers amounted to 1.86 mln mt last month. This is 25% below the September reading of 2.48 mln mt, 47% down from the 9M08 average of 3.51 mln mt, and 52% below the peak value of 3.92 mln mt in May 2008.

Azovstal [AZST UZ, U/R] decreased crude steel output by just 14% MoM in October to 412 thsd mt, according to Interfax-Ukraine. This is 21% below the 9M08 average of 519 thsd mt, and 25% below the peak output of 551 thsd mt in June 2008.

In October, Alchevsk ISW [ALMK UZ, U/R] smelted 141 thsd mt of crude steel, according to Interfax-Ukraine. October’s volume is 52% down MoM, 67% below the 9M08 average of 423 thsd mt, and 73% lower than the peak output of 516 thsd mt in May 2008.

In September, the amount of pharmaceuticals imported into Ukraine increased by 46% or USD 75 mln YoY. As well, imports increased by 21% MoM.

Centrenergo [CEEN UZ, BUY] has released its financial results for 3Q2008, as required according to Ukrainian taxation legislation. In the period July-September 2008, the company reported a net profit of UAH 46.641 mln. Its net income rose 2.3 times (or by UAH 1,457.149 mln) to reach UAH 2,583.587 mln, compared with the same period in 2007.

Landkom International [LKI LN, N/R], an international agricultural company and producer of grain and oil-bearing crops with land assets in Ukraine, has harvested 52,247 tons of crops in 2008. This information was officially released by the company.

Kyivenergo [KIEN UZ, BUY] will be receiving funds from the Kyiv City Administration to cover the difference between the company’s heat tariffs and heat production costs. The Kyiv City Council has vote favorably for the distribution of an additional UAH 245.858 mln from the Kyiv budget to this enterprise, made possible by redistributing funds related to its different budget lines.