Daily monitor

Ukrnafta [UNAF UZ, Strong BUY] plans to sell 208.1 thsd mt of oil and 4.5 thsd mt of gas condensate at the Ukrainian Energy resources Auction 120 on August 21. In comparison with the previous auction, the initial UAH price for Ukrnafta’s oil is the same, at UAH 2,600 per mt (USD 64.3 per bbl net of VAT using USD/UAH 4.6005).

The Ukrainian cement plants Volyn-Cement [VOLC UZ, BUY] and Ugcement [N/R], which are controlled by German Dyckerhoff Zement, increased cement production by 7.7% YoY in 2008H1.

A leading structured steelwork producer, Dnipropetrovsk Steelworks n.a. Babushkin [DZMK UZ, BUY], is supplying framed steelwork for construction of the Hilton Hotel in Kyiv.

Slavutych [SLAV UZ, BUY], which is affiliated with the Carlsberg Group, is opening a representative office in Belarus, a branch office in Moldova, and a daughter enterprise in Russia.

The Malyn Paper Mill (MPM), the only Ukrainian producer of electrical insulating cardboard for power devices, increased its output of paper by 23.9% in January-July YoY, up to 7.52 thsd tons. Also, during the same period the company increased the output of cardboard by 11% YoY, up to 3.45 thsd tons.

Azovstal [AZST UZ, U/R] is tuning up its new 2.5 mln tpa concaster No. 6, constructed within the realms of a 2003-2008 USD 826 mln CapEx program.

According to Interfax-Ukraine, shareholders of Kyivmedpreparat [KMED UZ, U/R] will vote on a share capital increase at a September 30 EGM. The current plan calls for placing (with existing shareholders only) 4 mln new shares at a face value of UAH 25 (USD 5.43 at USD/UAH 4.6020) during the period December 09-25.

Astarta [AST PW, BUY] published its consolidated report for the 1H08. The group's revenues grew 48% YoY to EUR 22.7 million.

Myronivskiy Hliboproduct [MHPC LN, N/R], one of the top Ukrainian agricultural and poultry producer, announced its preliminary results. Meat output increased by 50% YoY to 110 thsd mt backed by increase of output facilities due to launching of new line in October 2007. Sausage output surged 80% YoY to 5.3 thsd mt.

According to a press release by Rosselhoznadzor, seven Ukrainian dairy producers will be allowed to export dairy products to Russia.