Business news from Ukraine

Battery manufacturer Ista Center ended 2022 with losses

15 March , 2023  

Battery manufacturer Ista-Center JSC (Dnipro) ended 2022 with a loss of UAH 12.78 million, while in 2021 the net profit was UAH 154.85 million, according to preliminary data. According to the information for the agenda of the general meeting of SA’s shareholders, which is scheduled for April 19, published in the NCSSM’s disclosure system, by the beginning of this year the company had a small undistributed profit (UAH 0,027 mln).
The shareholders plan to cover the loss incurred last year at the expense of the profit of the previous years.
According to the publication, for 2022, the company decreased its current liabilities 4.5 times to UAH 6.88 mln, while long-term liabilities decreased 10% to UAH 2.59 mln.
Ista Center’s assets decreased by 11.3% during the year, to UAH 268.62 mln, mainly due to the reduction in total accounts receivable by 2.5 times, to UAH 17.6 mln, and cash to UAH 0.14 mln instead of UAH 3.84 mln.
The equity capital of the JSC by the beginning of 2023 amounted to UAH 256,35 mln, the authorized capital – UAH 128,17 mln.
The agenda of the meeting includes, in particular, the issues of re-electing the supervisory board and auditing commission, approval of the main activity (production of batteries and accumulators) and plans for 2023.
“Ista-Center, which has been operating since 1995, is one of the plants producing starter batteries of Ista group in Dnipro (the other is DOZ Energoavtomatika).
According to the company’s financial report for 2021, which was published on its website February 1 this year, its net profit then increased 21-fold to 154.85 mln hryvnia, while its net income fell 16% to 173.62 mln hryvnia.
At that, 36.5% out of sold 195.1 thsd conventional batteries were exported, including 25.78% – to the former CIS countries, 10.08% – to EU countries (except Poland).
The company also reported about mastering the production of polypropylene-cased batteries for the needs of the Ministry of Defense.
The company has not yet announced the results of its activities in 2022.
At the beginning of 2022, the company employed about 130 people.