Research Reports

Results Note for Ferrexpo...> read more

Research Update for Yasynivsky Coke (YASK)...> read more

First Ukrainian International Bank (FUIB) became the 8th-largest Ukrainian bank by assets following its July 2011 merger with DongorBank. Despite impr...> read more

Khartsysk Pipe is one of only a few Ukrainian stocks with a track record of paying meaningful dividends over the last five years. We expect the compan...> read more

Black Iron represents a potentially powerful addition to the stable of Ukrainian iron ore thoroughbreds. The company, currently in the exploration sta...> read more

Krukiv Wagon achieved a post-1991 production maximum and saw the average price for its railcars jump by 36% YoY in 2011. Accordingly, we raise our FY1...> read more

We expect Pivnichny GOK and Centralny GOK to soon report solid FY11 net profits of UAH 6.2bn and UAH 2.6bn, respectively. We presume that both compani...> read more

Ovostar operates a highly profitable business model featuring strong egg branding, which we believe can be maintained in the medium term. The company ...> read more

We expect Ukraine’s Hryvnia to repeat its stable performance of 2011 in the coming year, trading within a narrow range of 7.95 to 8.15 against the dol...> read more

According to Ukraine’s National Energy Strategy, DonbasEnergo’s two thermal power plants are slated for a complete overhaul during the next decade. We...> read more