Ferrexpo’s enterprises (Poltava Mining, Yeristovo Mining and Belanovo Mining) in January-September 2021 transferred more than UAH 6.6 billion in taxes and fees to the budgets of different levels, which is 2.7 times more than in the same period in 2020, the company said in a statement on Tuesday.
“The increase in payments occurred in all items, but the largest one was income tax,” Ferrexpo told Interfax-Ukraine.
At the end of January-September 2020, the company reported an increase in taxes and fees paid to more than $2.45 billion.
Ferrexpo said that Poltava Mining paid UAH 4.87 billion (a year earlier it was UAH 1.92 billion), Yeristovo Mining paid UAH 1.8 billion (UAH 0.51 billion) and Belanovo Mining paid UAH 0.03 billion (UAH 0.013 billion).
Taking into account the previously published data for 9M 2020 and excluding Belanovo Mining for 9M 2021, payments to local budgets grew by 19.3%, to UAH 333.6 million, to regional budgets by 2.6 times, to 784.1 UAH million, and to the state budget by 3.4 times, to UAH 5.22 billion. The social security contribution payments grew by 3.2%, to UAH 328.1 million.
Ferrexpo said that (excluding Belanovo Mining) income tax increased 4.7 times, to UAH 4.95 billion, environmental tax rose by 37.6%, to UAH 158.5 million, personal income tax grew by 5, 2%, to UAH 293.7 million, subsoil use royalties by 65.1%, to UAH 792.5 million.
Ferrexpo is an iron ore company with assets in Ukraine, which each owns 100% of Poltava Mining and Yeristovo Mining and 99.9% of Belanovo Mining.
Ferrexpo in January-September 2021 increased its total pellet production by 0.3% compared to the same period in 2020, to 8.158 million tonnes.
In the first half of 2021, the company increased its revenue by 74.3%, to $1.353 billion, and net profit by 2.7 times, to $661.43 million.
