Infrastructure ministry approves financial plan of Ukrainian Danube Navigation for 2019
Ukraine's Infrastructure Ministry has approved a financial plan of PrJSC Ukrainian Danube Navigation (Izmail, Odesa region) for 2019.
According to the document posted on the ministry's website, it is planned that net profit would reach UAH 21.3 million.
"Compared with the financial plan for 2018, the profit was cut by UAH 19.2 million. However, this is due to the fact that this year it is planned to significantly write off and sell the property that is not used in operational activities. The write-off and sale are planned to be completed by the end of 2018. In 2019, these revenues are not planned," the ministry said in the explanatory note to the document.
The net income of the Ukrainian Danube Navigation for 2019 is planned at UAH 974.3 million, gross profit - UAH 103.5 million, the operating profit - UAH 18.5 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) are expected in the amount of UAH 33.2 million, its margin - 3.4%. Capital investments are planned in the amount of UAH 24.3 million.
According to the explanatory note to the document, special changes in the freight base and freight market are not planned for 2019, so the volume of cargo transportation by the river fleet will be at the level of the plan for 2018 - 1.19 million tonnes.
Ukrainian Danube Navigation performs over 30% of the transportation on the Danube River.