Aviation company FED JSC (Kharkiv) completed July-September 2024 with a net profit of UAH 85.76 million, which is 3.7 times more than in the third quarter of 2023, with net income growing by 29.4% to UAH 300.27 million.
This result follows from the company’s interim financial statements for January-September, published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), according to which net profit almost halved to UAH 140.32 million and net income decreased by 35.2% to UAH 586.67 million during this period.
For its part, as reported, in the first half of the year, FED reduced its net profit by 4.6 times compared to the same period in 2023 – to UAH 54.56 million, while net income fell by 2.4 times – to UAH 286.41 million.
Thus, the company managed to significantly improve its financial performance in the third quarter.
“Currently, the main significant problems of the Company are military aggression against Ukraine, low solvency of customers and financial and economic instability in the country. All other problems are solved through a “dialogue” with the relevant government agencies in the form prescribed by law,” the report says.
The plant also emphasizes that damage to infrastructure or blockage of transportation routes may lead to further delays in production and logistics, which will negatively affect its operating performance.
“In the context of the economic crisis, the credit burden is growing, which may affect FED’s ability to finance current expenses and make investments,” the document says.
The company also considers uncertainty in foreign markets to be a significant risk factor.
“FED is one of the leading enterprises in Ukraine, specializing in the development, production, maintenance and repair of aviation, space and general engineering units.
According to the report, as of October 1, 2024, the company employs more than 1030 people.
As reported, in 2023, FED increased its net profit by 2.2 times compared to 2022, to UAH 318.33 million. Net income almost doubled to UAH 1 billion 127 million.
