“Odessa commercial sea port” was on the verge of bankruptcy because of the sharply increased costs

KIEV. May 19. UNN. With the advent of the “Odesa sea commercial port” of the new leadership, headed by Igor Tkachuk company was on the verge of bankruptcy, as evidenced by financial statements, reports UNN with reference to Comments.UA.

Thus, the size of net profit for the 1st quarter of 2017 decreased 4.3 times compared to the same period last year (101 441 000 UAH to 23 UAH 568 000). In addition, a trend to rapid fall in profitability of SE “OCSP” were identified already in the 4th quarter of last year, that is, immediately after the arrival in port “Vinnytsia team.” In turn, total income in the first quarter of this year compared to the first quarter of last year has decreased almost twice. And this despite the fact that the total volume of cargo traffic in the port of Odessa increased by 4% and amounted to 6,408 million tons.

More than 80% of the revenues of the state enterprise “omtp” traditionally is the income from towage of vessels. However, the new leadership of the port has signed with a private company “Ekoflot” cooperation agreement on the basis of which provided the opportunity to provide towing services at the port, its direct competitor.

Since the end of January 2017 GP “omtp” began to provide their tugs to work on the contracts, “Ekoflot”. As a result, according to various estimates, in the first quarter of this year Ekoflot touched on from 60% to 90% of all work on the tow, which could not affect the profitability of the port of Odessa.

In parallel with the decline in revenues at the state enterprise “omtp” costs have increased, namely the costs of wages increased by 60% (from 35 966 000 in the 1st quarter of 2016 to 57 718 000 in the 1st quarter of 2017). However, if the wage of ordinary workers of GP “omtp” increased on average by 33%, the wage Fund of the administrative personnel has increased 2.4 times. In particular, the monthly salary of the Director of GP “omtp” increased almost 3 times (from 130 thousand UAH. to 310 thousand UAH).

According to the legislation, the maximum allowed size of an official salary of the head of a state enterprise must be a multiple of the minimum base salary in effect on such enterprise, to which is attached, and the whole tariff system of the enterprise. In particular, in relation to the categories of state-owned enterprises, similar to SE “OCSP”, the size of the official salary of the Director may not serve more than 30 times the minimum salary. In other words, you can offer that I. Tkachuk acted not only in the interests of the workforce.

In addition, Ivan Tkachuk had brought in a new team, whose members began to receive revenues at the new rates. As a result, the number of employees of the SE Odessa commercial sea port has increased by almost 100 people, which also influenced the volume of expenses of the enterprise.

Also, this article, administrative costs (i.e., costs that do not relate to the main economic activity of the enterprise) has increased more than two fold (from 5 758 000 in the 1st quarter of 2016 to 11 999 000 UAH in the 1st quarter of 2017).

In this case, since the revenues of the SE “OCSP” as a result “effective” team work I. Tkachuk is rapidly decreasing, sources for the above-described increase in salaries and other expenses of this state-owned enterprises simply do not exist.

As a result, the profitability of the company fell by more than 3 times, and if nothing changes, soon the state enterprise “omtp” is on the brink of loss and will not be able that to develop successfully, but even to meet its existing financial obligations, including, and for the payment of wages to its labour collective.

As reported by the media, in September of last year I. Tkachuk was appointed to the post of acting Director of the state enterprise “Odessa commercial sea port” (SOE “OCSP”).