Dneprovagonmash JSC (DVM, Kamianske, Dnipropetrovsk region), a large railcar building company in Ukraine, controlled by the TAS financial and industrial group of businessman Serhiy Tigipko, completed January-September with a net profit of UAH 6.15 million, while in the first nine months of 2021 the loss was UAH 97.7 million.
According to the interim reporting of the company (non-consolidated), published on Friday in the information disclosure system of the National Commission for Securities and Stock Market (NCSMFR), its net income increased by 2.2 times – up to UAH 849.86 million.
The plant received UAH 81.6 million in gross profit (against a loss of UAH 28 million a year earlier), and operating profit amounted to UAH 11.75 million (a loss of UAH 101.4 million).
As reported, DVM in the first half of this year increased its net income by 2.3 times compared to the same period last year – up to UAH 493 million, and reduced the loss by 67%, to UAH 25 million.
Thus, in the third quarter of 2022, it more than doubled its net income to UAH 357 million and received UAH 31.14 million of net profit against a loss of UAH 22 million in July-September 2021.
The report says that in the first nine months of this year, DVM produced 468 railcars, mainly gondola railcars and flatcars for large-tonnage containers.
“Dneprovagonmash” is one of the leading Ukrainian enterprises in the design and manufacture of freight cars.
As reported, in January-September 2021, against the backdrop of a crisis situation in the railcar building of Ukraine, the plant received a net loss of UAH 97.7 million, with a decrease in net income by 38.7% to UAH 384.4 million.
In total, last year DVM reduced the production of freight cars by 39.2% – to 477 units, sales – by 44% to 461 units. In total, 1.9 thousand wagons were produced in Ukraine.
