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Metallurgical company CENTRAVIS was the first to introdunce currency forwards from Ukreximbank in strategic planning


Ukreximbank continues to introduce up-to-date financial products in response to the request of its customers. Thus, metallurgical company CENTRAVIS (Nikopol) began to use a systematic strategy of hedging currency risk through forward transactions of Ukreximbank.

"As a leading global provider of high-quality solutions in seamless stainless steel pipes segment – the 4th in Europe and the 9th in the world – CENTRAVIS is actively conducting foreign trade operations so currency conversion is an integral part of its business. Forward operations implemented by the Bank will help the company in planning of cash flows with the established exchange rates, and  financial calendar optimization in line with the timing of foreign exchange earnings, production materials procurement and other current operating expenses," – said Oleksandr Isniuk, Head of Private Sector, Corporate Business Department of  Ukreximbank.

"Forward transactions are based on fixing the rate of currency sale or purchase for a specified period to minimize currency risks of exporters and importers and improve future financial planning," – noted Anton Boldyriev, Head of Treasury and Investment Services Department of Ukreximbank.

“Forex variation is a major risk for a large exporter such as Centravis and implementing a systematic hedging of our EURO sales using forward is a “must have” for any Ukrainian exporter in 2021. We are delighted that Ukrexim could offer us this product with limited cash deposit and great flexibility. We will progressively use forward to hedge up to 70% of our EURO revenue|, secure cash flow and profitability from forex variation.” Added Alexandre JOSEPH, CFO of CENTRAVIS.

It is worth noting, that in March, PJSC CENTRAVIS PRODUCTION UKRAINE opened a long-term credit limit of EUR 35 million in Ukreximbank for the full-scale implementation of an investment program on the production of new types of seamless pipes, introduction of environmentally friendly and energy-saving technologies and further modernization.