Draft amendments to the maritime industry Financial Plan for 2021 have been published.
State enterprise (SE) Ukrainian Sea Ports Authority (USPA) has published draft amendments to the Financial Plan of the maritime industry for 2021 that envisages an increase of capital investments by 28% compared to the approved Financial Plan – up to UAH 1.245Bn (1 UAH ~ 26 USD), according to an explanatory note published on the website of the Ministry of Infrastructure.
Thus, the document envisages increasing capital construction in comparison with the approved financial plan by 7% – up to UAH 101.9M, the purchase of fixed assets – by 68%, to UAH 271.5M, the purchase of intangible assets – 2.7 times, up to UAH 64.1M, and the modernization of fixed assets – by 43%, up to UAH 668.8M.
Funds for major repairs, on the contrary, were reduced – by 38%, to UAH 138.4M.
In addition, the changes affected the main indicators of the industry.
Due to the changes made to Financial Plan, USPA plans to cut costs and increase profits by UAH 85.6M – to UAH 2.2Bn. The indicator of contributions to the country’s budget was increased by UAH 12.1M – to UAH 3.82Bn.
SE USPA explains the edits to the financial plan by the need to update some of the articles.
The main reasons that led to the introduction of changes to the approved financial plan are: the need to partially transfer to 2021 capital investment objects that were not implemented in time and to the full extent in 2020; update of the cost plan for fixed assets repairs; update of the operational dredging cost plan; update of other financial and economic indicators of the state-owned enterprise.
It is noted that on October 6, the Cabinet of Ministers approved amendments to the financial plan of the USPA for 2021. The document of changes itself is absent on the government website.
Let’s remind that Cabinet of Ministers in December 2020 approved Financial Plan of SE USPA for 2021. The net income of SE USPA for 2021 from the sale of goods, works and services was planned at the level of UAH 7.789Bn, the total income was planned at UAH 8.039Bn, net profit – UAH 2.108Bn.