Large and medium Ukrainian enterprises' losses quintuple since year's start

Ukraine's large- and medium-sized enterprises posted UAH 4.9 billion, or US$183 million, in pre-tax losses in the first quarter of 2020, whereas they were in the black in the same period of 2019 with profit totaling UAH 111.1 billion, or US$ 4.15 billion.

The share of unprofitable enterprises increased by 13.6 pp to 40.8%, from 27.2%, the country's State Statistics Service said.

Read alsoKyiv Sikorsky Airport facing bankruptcy amid COVID-19 without state support

Their losses in the first quarter amounted to UAH 204.8 billion (US$7.65 billion), which is almost five times higher than in the first quarter of 2019.

Ukrainian enterprises that worked profitably boosted their profit by 31.1%, to UAH 199.9 billion, or US$7.47 billion.

The State Statistics Service says its report does not include data from Russia-occupied areas, namely the Crimean peninsula and parts of Donetsk and Luhansk regions.

As UNIAN reported earlier, large- and medium-sized enterprises in Ukraine in 2019 posted UAH 422.235 billion, or US$15.78 billion, in pre-tax profit, which was 26% more than in 2018.