Kremenchuk Road Machines Plant (Kredmash JSC, Poltava region) reduced its net sales revenue by 23% in 2024 compared to 2023, to UAH 143.65 million.
According to the company’s annual report published on Tuesday in the disclosure system of the National Securities and Stock Market Commission, the loss decreased by almost 23% to UAH 13.08 million, which is the same as the preliminary data published earlier.
Last year, the plant received UAH 13.3 million in losses from operating activities (16.5% less than in 2023), and gross profit amounted to UAH 17.2 million (-15.7%).
“In the report, Kredmash notes that in 2024 it sold only two asphalt mixing plants, while a year earlier it sold three. The company also sold consumer goods for UAH 58.7 million, spare parts for construction and road equipment for UAH 18.8 million, and wheeled vehicles for UAH 1.12 million.
According to the plant, asphalt and soil mixing plants accounted for 42.7% of total production last year, 14.3% for spare parts, 37.9% for fuel and energy, and 5.1% for other types of production: casting, installation and commissioning.
“In 2024, Kredmash exported products worth UAH 63.6 million (45.1% of sales), mostly to neighboring countries.
Asphalt mixing plants were purchased by Kharkiv-based Nanoexpo+ LLC (for UAH 34.8 million) and Mykolaiv-based ABZ Alliance (UAH 17.7 million), while fuel and lubricants were supplied, in particular, to Asimega (Uzbekistan) for UAH 12.1 million, Baiterek (Kazakhstan) for UAH 39 million; spare parts were supplied to Kredmash Impex LLC (Kazakhstan, Moldova, Georgia) for UAH 7.4 million.
The main suppliers of products are Ukrainian companies. For example, a branch of Metinvest-SMC LLC (Kremenchuk) is a supplier of rolled metal products, Interpipe Ukraine (Dnipro) is a supplier of pipes, Tact LLC (Dnipro) is a supplier of structural steel sections, Camozzi LLC (Kyiv) is a supplier of pneumatic equipment, and Spetsstal Trade LLC (Kropyvnytskyi) is a supplier of ferroalloys.
“Production activities of PrJSC “Kredmash” are related to the implementation of state programs for the construction and operation of roads. At present, the programs have been curtailed, which negatively affected production and sales volumes,” the report states.
This year, the company plans to manufacture new types of road construction equipment, including a bulk material packing plant with a capacity of up to 20 tons per hour and a mixing plant for dry mixes with a capacity of 15 tons per hour.
According to the company, the average number of employees decreased by 31% to 746 people compared to 2023. The average monthly salary at the end of the year amounted to UAH 8.67 thousand.
“The debt on bank loans as of December 31, 2024 is UAH 20 million, there are no wage arrears and no budget arrears,” the report states.
As reported, in 2023, Kredmash reduced its net income by 36% year-on-year to UAH 186.4 million, while reducing its loss by 44% to almost UAH 17 million.
In pre-war 2021, the plant sold products worth UAH 1.2 billion. In June 2022, the plant’s industrial facilities were partially destroyed as a result of an enemy rocket attack on Kremenchuk.
