Daily monitor

Nikopol Ferroalloys [NFER UZ, N/R], the largest Ukrainian ferroalloys maker, reduced its output 1.5% YoY to 447.5 thsd metric tons in 5M2008.

The PFTS stock exchange has included Lutsk Automobile Plant [LUAZ, N/R] stock on the first level of listings. LUAZ currently assembles Kia and Hyundai automobiles at its Lutsk site, while VAZ automobiles are assembled at its Cherkasy factory. In 1Q08, 18.93 thsd automobiles were churned out at the company’s Cherkasy and Lutsk locations, up 45% YoY. In 2008, LUAZ plans to produce more than 100 thsd automobiles.

Ukrainian beverage producer Vinifruit [VINIP UZ, N/R] is planning to increase its net income to USD 3.1 mln and net revenues to USD 55.6 mln in 2008. According to an official company statement, made at the investment forum Ukraine 2008: perspectives and reality, the company plans to expand its net income to USD 9.6 mln and net revenues to USD 98.4 mln by 2010.

Enakievo ISW group, which includes OJSC Enakievo Iron & Steel Works [ENMZ UZ, BUY], reported the following operational results in 5M08: pig iron, 1.218 mln mt (+26.2% YoY); crude steel, 1.287 mln mt (+13.9%); rolled products delivered, 1.273 mln mt (+10.5%), of which finished long products 170.6 thsd mt (-85.6%).

Donetsk Metal Rolling Plant [DMPZ UZ, BUY] produced 13 thsd mt in May 2008, according to Interfax-Ukraine.

Azovstal [AZST UZ, BUY] reported its May production data. Pig iron, 459.7 thsd mt (+8.3% YoY); crude steel, 544.8 thsd mt (+6.3%); rolled products, 492.6 thsd mt (+7.8%). For 5M08, production of crude steel is up 2.3% to 2.62 mln mt, and output of rolled products is up 5.9% to 2.372 mln mt..

Avdiivka Coke [AVDK UZ, Strong BUY] has increased output by 39.5% to 1.982 mln mt in 5M08, according to UGMK.INFO. In May 2008, the plant reportedly produced 426 thsd mt of coke.

Azovmash, the leading Ukrainian machine-building holding, increased its YoY revenues almost 48% in Jan.-May 2008 with USD 474 mln in sales. During the same period, 4,171 freight carriages and platforms (+8% YoY) were produced. Among the innovative products produced by the company was an automated fuel feeder that is slated for supply to one of the Russian airports. Azovmash also produces heavy metallurgical equipment steadily ordered by metallurgical plants in Russia, Ukraine, Algeria and India. In 2007, Azovmash increased its production of carriages 16.1% to 9827 units. In 2008, the company expects to produce 11,780 carriages.

Growth in personal income accelerated to a record +46.2% YoY in April compared to +44.8% YoY in March. The average monthly income per capita in April reached USD 281 (UAH 1, 417). The share of salaries in aggregate income totalled 43%, social payments – 41% and income from property and other sources – 16%. All the income components grew firmly YoY, with social payments up 48% YoY, salaries up 44%, income on property rose to more than 60% YoY and dividend income and other sources of income grew 44% YoY in April 2008. Real disposable income increased 17.7% YoY in April 2008.

Khlibprom [HLPR UZ, N/R], a holding company for 14 bread plants and three bakeries, has posted a net revenue of USD 22.02 mln (+54.5% YoY) and a net income of USD 0.25 mln (+ 9.1% YoY) for 1Q08.