Major Ukrainian cable plant Odeskabel ended January-June this year with a net profit of UAH 5.05 million, while in the first half of 2022 the loss amounted to UAH 2.52 million.
According to the interim statements of the company released on Friday in the information disclosure system of the National Securities Commission, its net income increased by 31.2% to UAH 903.44 million
The company earned an operating profit of UAH 48.62 million (11% more than a year earlier), while gross profit rose 42.5% to UAH 164.9 million.
According to “Odeskabel”, in the first half of the year the largest share (41%) in total sales amounted to wires and power cables, compared to January-June 2022 their share increased by 8.4 p.p..
At the same time, the share of cables for structured cabling systems (LAN-cable) decreased by 8 p.p. to 22.85%, fiber optic cables increased by 8 p.p. to 22.85%. – To 22.85%, fiber-optic cables – by 2.9 p.p., to 16.6%.
As reported, in the first quarter of this year Odeskabel received UAH 0.8 mln of net profit compared to a loss of UAH 21.64 mln for the same period of 2022, with net income growing by 32.6% to UAH 433.28 mln.
Thus, in the second quarter, the plant increased net income by 30% by April-June 2022, to UAH 470.16 mln, while net profit decreased 4.5 times to UAH 4.27 mln.
The main risks for the company, according to the statements, remain uncertainty of the timing of the end of the military aggression of the Russian Federation against Ukraine; dependence on the fact that prices for 90% of materials are formed on the world market, and the sales market is mainly Ukraine and neighboring countries; complication of supplies of materials; reduction of purchases of products for capital construction by telecom operators.
In turn, according to information on the website of “Ukrzaliznytsia”, during the meeting held on July 19 with manufacturers of cable products, representatives of UZ urged Ukrainian plants to participate in tenders directly, which will “minimize the risks of participation of unscrupulous intermediaries and get the best products at a favorable price”.
“Odeskabel” produces a wide range of copper and fiber optic cables, digital or LAN cables, power cables, cords and wires.
As reported, the company’s net income in 2022 decreased by 24.7% by 2021 to UAH 1 billion 561 million, the loss amounted to UAH 27.24 million against net profit of UAH 55.4 million.
