The aviation industry enterprise FED JSC (Kharkiv) in January-June 2022 received a net income of UAH 228.18 million, which is 2.7 times less than in the same period of 2021.
According to the interim financial statements of the enterprise, published in the information disclosure system of the National Commission for Securities and Stock Market (NCSM), its net profit in the first half of the year decreased by almost 9 times – to UAH 19.84 million.
FED received UAH 26.48 million of net profit from operating activities against UAH 223.3 million a year earlier, while gross profit decreased 3.4 times, to UAH 88.36 million.
The report notes that the suspension of the company’s activities during the war period affected the financial statements, resulting in, in particular, a decrease in revenues. At the same time, the report does not indicate the period for which the work was suspended.
According to the company’s previously published statements for the first quarter of this year, its net income for this period decreased by 40% – to UAH 170.35 million, and net profit by 39% – to UAH 40.12 million.
Thus, in the second quarter of this year, the FED received a loss of UAH 20.28 million against a net profit of UAH 110.19 in April-June 2021, and net income decreased by 5.8 times to UAH 57.83 million.
JSC “FED” is one of the leading enterprises in Ukraine, specializes in the development, production, maintenance and repair of units for aviation, space and general engineering purposes. Export geography includes EU countries, China, South Korea, India, UAE.
In 2021, according to preliminary data, the company increased its net profit by 55% by 2020 – up to UAH 395.37 million, net income has not yet been made public.
By the beginning of 2021, the company employed more than 940 people.
More than 98% of the shares of JSC “FED”, according to the National Securities and Stock Market, belongs to the head of the board Viktor Popov.
AVIATION INDUSTRY, ENTERPRISE, FED, INCOME
