Ukraine’s space industry has increased its net loss by 23 times since the beginning of the year

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Ukraine’s space industry has increased its net loss by 23 times since the beginning of the year

25.11.2020 News

Enterprises and institutions of the space industry of Ukraine increased the net loss to 1.038 billion hryvnias from January to September 2020. This is 23 times more than in the first nine months of last year. In 2019, for the same period, the net loss amounted to 44.3 million hryvnias, according to the press service of the State Space Agency of Ukraine.

“For nine months of 2020, the volume of commodity production (goods, works, services) of enterprises of the space industry of Ukraine amounted to 1 billion 665.2 million UAH, which is 54.7% compared to the same period last year. Gross production products (goods, works, services) at comparable prices amounted to 2 billion 165.5 million UAH, or 74.3% of the corresponding period of 2019, “- said in a statement.

Since the beginning of the year, products worth UAH 1 billion 640.9 million have been sold, which is 53.2% of sales for the same period last year.

Products worth UAH 843.1 million were exported (34.7% of the volume for the corresponding period of 2019), imports amounted to UAH 173.8 million (125% more than in the same period last year).
Receivables of enterprises in the industry increased by 0.9%, i.e it amounts to UAH 4.012 billion.

Accounts payable for the reporting period increased by 4.7% (approximately UAH 1 billion) and as of June 30 amounted to UAH 21 billion 888.1 million.

The arrears of payments to the budget as of September 30 amount to UAH 197.4 million. Compared to January 1, 2020, the debt to the budget (arrears) has quadrupled.

Depreciation of fixed assets at the enterprises of the branch as of September 30 is 93%.

For nine months of 2020, the average number of employees of all enterprises in the industry was 13,896 people (economically active enterprises – 13,864 people). Compared to last year, it decreased by 1,646 people (or 10.6%).

The average monthly salary of full-time employees in the industry for the nine months of this year is 8,695.4 hryvnias. Salary decreased by 6.4% compared to the same period last year.

Wage arrears could not be eliminated. As of June 30, it amounted to UAH 156.262 million, having increased by 42.4% compared to the same period last year.

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