Ukraine’s major railcar-building enterprise Dneprovagonmash JSC (DVM, Kamenskoye, Dnepropetrovsk region), controlled by businessman Serhiy Tihipko’s TAS financial and industrial group, ended the first half of 2023 with a net profit of UAH 57.85 million against a loss of almost UAH 25 million in the same period last year.
According to the company’s interim financial statements released on Wednesday in the SECP disclosure system, its net income from sales increased by 17.2% to UAH 578 million.
In January-June, the company increased its gross profit 3.6 times to UAH 80.72 million, generating UAH 58.68 million in operating profit against a loss of UAH 20.04 million.
Compared to the beginning of this year, DVM reduced current liabilities by 12.4% to UAH 261.38 mln, while long-term liabilities increased by 13.6% to UAH 59.84 mln.
The report does not provide the number of cars produced and sold during the reporting period.
Among the price risks for the company, the report notes the risk of higher prices for components, materials and energy (material costs account for 80-90% of the cost of production), and lower prices for railcars.
As reported, in the first quarter of this year DVM received a net profit of UAH 37.04 million against a loss of UAH 18.07 million for January-March 2022, with net income growing by 32% to UAH 396.92 million.
Thus, in the second quarter of 2023, the company’s net profit amounted to UAH 20.81 million compared to a loss of UAH 6.93 million in April-June 2022, with net income falling by 5.9% to UAH 181.09 million.
“Dneprovagonmash” is one of Ukraine’s leading enterprises in the design and manufacture of freight cars. Annual production capacity is 9 thousand units.
As reported, an extraordinary meeting of shareholders of DVM on July 25 decided to transform it into TAS Dneprovagonmash LLC.
DVM’s net income for 2022 increased by 77.3% to UAH 1 billion 108.7 million, net profit amounted to UAH 48.64 million against a loss of UAH 111.3 million a year earlier. At the same time, railcar sales grew by 35% to 623 units, while production grew by 21% to 577 units.
TAS Group was founded in 1998 by businessman Tigipko. Its business interests include financial sector (banking and insurance segments) and pharmacy sector, as well as industry, real estate and venture projects.
Ukraine in January-July of this year increased exports of pig iron in physical terms by 16.6% compared to the same period last year – up to 906.423 thousand tons.
According to statistics released by the State Customs Service (SCS), for the period exports of pig iron in monetary terms amounted to $346.880 million (down 18.1%).
At the same time, exports were mainly to Poland (63.56% of shipments in monetary terms), Spain (19.87%) and the Czech Republic (7.24%).
For seven months of 2023 Ukraine imported 37 tons of pig iron for $52 thousand from Germany (61.54%) and Brazil (38.46%), with no imports in June and July.
As reported, Ukraine in 2022 reduced exports of pig iron in physical terms by 59% year-on-year to 1 million 325.275 thousand tons, in monetary terms by 61.1% to $638.774 million.
In 2022, Ukraine imported 40 tons of pig iron worth $23 thousand, while in 2021 – 185 tons of pig iron worth $226 thousand.
Exports were mainly to the USA (38.47% of shipments in monetary terms), Poland (32.91%) and Turkey (8.12%), imports – from Germany (100%).
According to the State Statistics Committee, Ukraine in the first seven months of 2023 reduced imports of nickel and nickel products by 77.3% compared to the same period of 2022 – to $8.439 million (in July – $732 thousand).
Ukraine in 2022 reduced imports of nickel and nickel products by 49.9% compared to 2021 – to $59.754 million, aluminum and aluminum products – by 33.4%, to $340.398 million.
At the same time, it reduced imports of lead and lead products by 66.6% to $2.839 million.
Ukrainian companies in January-July this year increased imports of copper and copper products in value terms by 95.6% compared to the same period last year – up to $67.313m.
According to customs statistics released by the State Customs Service of Ukraine, exports of copper and copper products for the period decreased by 26.4% to $43.924 million.
In July, $11.024m worth of copper was imported and $4.491m worth of copper was exported.
Ukraine in January-July this year reduced exports of semi-finished carbon steel products in physical terms by 76.4% compared to the same period last year – to 658.729 thousand tons.
According to statistics released by the State Customs Service (SCS), in monetary terms, exports of semi-finished carbon steel products for this period amounted to $354.178 million (down 62.9%).
The main exports were to Bulgaria (33.71% of shipments in monetary terms), Poland (31.62%) and Turkey (7.45%).
In January-July Ukraine imported from China 92 tons of semi-finished products worth $169 thousand.
As reported, in 2022 Ukraine in physical terms reduced exports of semi-finished carbon steel products by 72% in comparison with the previous year – to 1 million 899.729 thousand tons, in monetary terms by 70.9% – to $1 billion 191.279 million. The main exports were to Bulgaria (26.55% of supplies in monetary terms), Poland (13.97%) and Italy (12.13%).
In addition, Ukraine imported 5.558 thousand tons of similar products in 2022, which is 85.7% less than in 2021. In monetary terms, imports decreased by 86% to $3.634 mln. Imports were made from Russia (96.92% of supplies – before the war), China (1.84%) and Romania (1.21%).
Metallurgical enterprises of Ukraine in January-July this year reduced revenues from ferrous metal exports by 53.6% compared to the same period last year – to $1 billion 621.038 million.
According to statistics released by the State Customs Service (SCS) on Tuesday evening, ferrous metals accounted for 7.44% of total receipts from exports of goods during this period, while for 7M-2022 – 13.61%.
In July, revenues from ferrous metals exports amounted to $206.685 million, while in the previous month – $277.888 million.
At the same time, Ukraine has increased imports of similar products by 51.8% – up to $718.782 million in seven months of this year. In July, $112.462 million worth of products were imported.
In addition, in January-July Ukraine reduced exports of metal products by 11.3% compared to the seven months of the previous year – to $561.009 million. In July they were exported for $59.195 million.
At the same time, imports of metal products for the first seven months of the year increased by 23.3% to $432.906 million. In July, Ukraine received $73.702 million worth of these products.
As reported, the country’s metal enterprises in the first half of the year-2023 reduced revenues from exports of ferrous metals by 56.1% compared to the same period last year – to $1 billion 414.354 million. For 5 months-2023 the lag was 60.7%, for 4 months-2023 the decrease was 3.2 times.
Ukraine’s metal enterprises in 2022 decreased revenues from ferrous metal exports by 67.5% compared to 2021, to $4 bln 533.088 mln. Ferrous metals for this period accounted for 10.26% of total revenues from exports of goods against 20.49% for 2021. At the same time, Ukraine last year reduced imports of similar products by 38.3% to $954.387 million.
In addition, in 2022, Ukraine reduced exports of metal products by 18.6% to $1 billion 52.512 million. Imports of metal products for the year fell by 42.9% to $643.162 million.
