Cabinet approves Yuzhny Port financial plan for 2017, expects UAH 2.2 bln in revenue
Ukraine's state-owned Sea Trading Port Yuzhny (Odesa region), the country's largest cargo port, in 2017 expects to post EBITDA at UAH 1.078 billion, receiving 2.247 billion in revenue, including UAH 782.5 million in net profit.
A respective financial plan was approved at a Cabinet meeting on Wednesday.
According to the explanatory note, profit plans for 2017 increased 8.9% compared to 2016 actual indicators, net income rose by 18.8% and net profit by 34.8%.
The 2017 plan provides for 15.1 million tonnes of offloading cargo, which is 22.6% more than recorded in 2016.
The total of capital investment during 2017 is UAH 377 million, of which UAH 35 million will be used to build reserve electricity-generating facilities, while UAH 10 million will be spent on railways links and UAH 27 million on reconstruction of the facility's coal and ore complex. Investment in engineering networks and structures will total UAH 15 million. In addition, UAH 138 million is earmarked for the purchase of vehicles for use within the port complex, as well as heavy-lifting machinery. Some UAH 83 million will be funneled into repair works.
The ports development fund (including remaining funds from previous years) estimated at UAH 215.47 million and amortization at UAH 161.5 million will be used to fund the projects.
Headcount at the port in 2017 is 2,710 people whose salaries have been increased by 0.9% over 2016 levels and account for UAH 14,909.
Yuzny Port is the largest port in Ukraine. .It is located on the Adzhalyk firth and is the deepest harbor in Ukraine, located about 30 kilometers east of Odesa.
The channel running from the Black Sea to the port is 3.3 kilometers long. The depth of its main berths is 14 meters, with two deep-water berths able to service large vessels (for example Capesize) with a depth of 18.5 meters. Some 24 vessels are able to dock at the port simultaneously.
The port's open warehouses measure 185,500 square meters, with closed warehouses measuring 2,000 square meters. The port specializes in offloading free-running cargoes, chemical fertilizers and other types of cargo, including coal, metal, iron ore, palm oil, oil, carbamides, ammonia, methanol, crude oil, and grain.