TAS Dneprovagonmash LLC (DVM, Kamianske, Dnipro region), controlled by businessman Sergiy Tigipko’s TAS Financial and Industrial Group, posted a consolidated net profit of UAH 84.08 million in January-September, up 6% year-on-year.
According to the company’s interim reports, published on Thursday in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its consolidated net income increased by 62.8% to UAH 1.61 billion.
The report notes that the consolidated financial statements include the performance of the car-building company TAS Dniprovagonmash and its subsidiary, the casting manufacturer TAS Steel Plant.
As reported, TAS Dneprovagonmash’s unconsolidated net profit for January-September amounted to UAH 53.86 million, which is 5.4% more than in the same period in 2023, with unconsolidated revenue growing by 76.4% to UAH 1 billion 278 million.
According to the report, the company’s consolidated net income includes revenue from the sale of railcars and rolling stock of UAH 1.245 billion, revenue from the sale of castings and shot of UAH 332.2 million, revenue from the sale of spare parts of UAH 31 million, and revenue from services rendered (almost UAH 1.18 million), including railcar repair.
In the first half of this year, the company’s consolidated profit decreased by almost 2.4 times compared to the same period in 2023 to UAH 40.37 million, while consolidated net income increased by 35% to UAH 1.01 billion.
As reported, at the beginning of 2023, TAS Group became a strategic investor in the TransAnt GmbH railcar building joint venture of Austrian Voestalpine and ÖBB Rail Cargo with a 40% stake, and in the spring of 2024 it became the majority owner of TransAnt, increasing its stake to 61%.
This year, the company plans to invest UAH 100.2 million in the development of the European direction (for the purchase of equipment).
As reported, TAS Dneprovagonmash produced 378 freight cars in 2023 (including for the EU market), which is 34.8% less than in 2022, while sales decreased by 40.6% to 370 units. Non-consolidated revenue decreased by 2.8% to UAH 1 billion 77 million, while net profit increased slightly to UAH 49.2 million.
TAS Group was founded in 1998 by businessman Sergey Tigipko. Its business interests include the financial sector (banking and insurance) and pharmacy, as well as industry, real estate, and venture capital projects.
