Smart-Holding’s Shipbuilding Enterprises Reported Profit at Year-End 2012


Kherson Shipyard (KhSY) and Chernomorsky Shipbuilding Yard (ChSY) being part of Smart-Holding’s shipbuilding business reported profit at year-end 2012.

The profit made by Kherson Shipyard at year-end 2012 amounted to UAH 15.08 million. For the second year in a row, the company’s profit has exceeded UAH 15 million. The volume of the shipyard’s output and services more than doubled, totalling UAH 414,908,000. This is the best 2012 production output indicator among Ukraine’s shipbuilding companies.

Last year, KhSY focused on the major contract for the construction of a series of complete RST27 project tankers for SVL (Malta). The company floated out the lead tanker of the series in October and is planning to complete the contract performance and hand over all three vessels to the customer in 2013. In addition to the basic contract, the shipyard overhauled and upgraded 23 vessels in 2012. Besides, KhSY manufactured and handed over to SAIPEM (Italy) six offshore constructions (suction anchors). The shipyard’s capital investment into renovation and upgrading of its fixed assets amounted to UAH 3.202 million.

In its turn, Chernomorsky Shipbuilding Yard closed year 2012 with a net profit of UAH 629,000. The company has reported positive year-end financial result for the third consecutive year. The volume of output and services of ChSY amounted to UAH 73.2 million in 2012. The shipyard constructed and handed over to the customer 3 vessels within the reporting period. In particular, last year ChSY built 2 universal vessels for Damen Shipyards Bergum (the Netherlands) and a freezer trawler for The Preobrazhenskaya Base of Trawling Fleet (Russia). In 2012, ChSY overhauled and upgraded 14 vessels, including two military ships under its contract with the Naval Forces of Ukraine. The company’s capital investment at year-end amounted to UAH 15.1 million and its order portfolio 2013 has reached UAH 275.64 million so far.

‘Despite the complicated situation in the industry, Smart-Holding’s shipbuilding enterprises succeeded in retaining their strong market positions. Both companies confirmed their statuses of the region’s largest taxpayers in 2012, having paid almost UAH 60 million in taxes and charges to the budgets of all levels and extrabudgetary trust funds. In particular, ChSY paid UAH 30.795 million, and KhSY UAH 28.369 million. This year, we are planning to nail down this positive trend by means of quality and timely fulfillment of the existing contractual obligations and substantial extension of our order portfolio,’ said Alexandr Yurkov, Head of Smart Maritime Group Business.


Smart Maritime Group (SMG) is Ukraine’s largest shipbuilding holding company. It was established in 2009 to manage the marine assets of Smart-Holding. SMG integrates two largest shipbuilding companies of Ukraine, Chernomorsky Shipbuilding Yard and Kherson Shipyard. The sub-holding company also includes Ochakov port (Dnieper-Bug firth, Nikolaev region).

Smart-Holding Group is one of the largest investment groups in Ukraine with focus on key industries of the economy, including metals and mining, oil and gas, banking, shipbuilding, real estate and agriculture.

Smart-Holding’s strategy is aimed at efficient management of a diversified portfolio of the Group’s assets by increasing its value in the long run and by searching for new business development directions. Smart-Holding’s investment activities are focused on the investments both in Ukraine and in the countries of CIS and Eastern Europe. Smart-Holding participates in the projects as a strategic and portfolio investor.

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