29 March 2024, Friday, 10:36
Support
the website
Sim Sim,
Charter 97!
Categories

What Happened To Belarusian Oligarchs’ Income?

10
What Happened To Belarusian Oligarchs’ Income?

The crisis has hurt the prosperity of the dictator’s "purses".

Your Country’s Tomorrow has studied how problems in the Belarusian economy affected the activities of the largest private public companies and holdings.

The enterprises of the group controlled by the entrepreneur of the year Valiantsin Baiko and his brother Dzmitry, were profitable. As follows from the financial statements of the company over the past year, the aggregate amount of net profit was approximately at the level of 2015, which is not bad, considering the situation in the country's economy.

The parent company of the Conte Spa group finished 2016 with a net profit of 31.3 million rubles, having lost about 25% compared to 2015. But the financial efficiency of Baiko’s second asset – the Brest stocking factory – significantly increased. The net profit of the Brest producer increased 12 times (to 8.8 million rubles). The profitability of the holding’s trading company Conte Trade increased more than 4.5 times (up to 2.5 million rubles).

Another businessman from western Belarus, Aliaksandr Mashenski, improved the financial performance of his fish-processing company Santa Bremor. The net profit of the company Santa Bremor increased almost 33.7 times, reaching 5.6 million rubles.

The revenue of the country's largest employer, Eurotorg, amounted to 3.6 billion rubles in 2016, with an increase of 18%. However, the profitability of the largest retail network, controlled by Siarhei Litvin and Uladzimir Vasilka, declined in 2016. Eurotorg reported about 22.6 million rubles of net profit, while a year earlier this figure was equal to 36.5 million rubles.

The largest enterprises of the machine-building group, owned by Aliaksandr Shakutsin and Mikalai Varabei came out of the losses. Their Amkador holding management company earned 2.7 million rubles of net profit (in 2015, there was a net loss of 21.8 million rubles) and hired more than 70 employees. The participant of this holding Amkador-Belvar became profitable. The company earned 262 thousand rubles, when in 2015, Amkodor-Belvar was unprofitable (3.2 million rubles).

Triple, which was the largest private entrepreneurial structure a couple of years ago, has not published its financial report yet. But, for example, the Biaroza silicate products plant, owned by Triple, finished the past year with a net loss of 2.2 million rubles. Compared to 2015, the loss decreased almost 2 times.

Write your comment 10

Follow Charter97.org social media accounts