JSC Mukachevo Tochpribor plant (Transcarpathian region), a major Ukrainian manufacturer of electronic components, has reported a net profit of UAH 24.08 mln in 2022, which is 8.2 times higher than in 2021, according to preliminary data.
According to the company’s information for the April 28 general meeting of shareholders on the results of its work in 2021-2022, by the beginning of 2023 undistributed profits amounted to 176.33 million UAH (previous year – 152.25 million UAH).
The shareholders intend to direct the entire profit for 2021 (UAH 2.94 mln) and for 2022 to replenish the working capital and not to pay out dividends.
According to the publication, last year the plant increased its current liabilities by 39.5% to UAH 97.48 mln, and its long-term liabilities increased by 51.4% to UAH 4.88 mln.
The value of company assets increased by 23.3% to UAH 282.48 million, including total receivables decreased by 14% to UAH 73.1 million, and cash and cash equivalents increased 5.5 times to UAH 69.58 million.
The agenda of the meeting includes, in particular, the issues of changing the main type of activity from “production of instruments and equipment for measuring, research and navigation” to “production of electrical and electronic equipment for the automotive industry”.
It is also planned to supplement the list of activities with the production of ready-made metalware, locks and door hinges, as well as the provision of real estate for rent. Also the shareholders intend to re-elect the council for three years.
According to the National Securities and Stock Market Commission (SSMSC) for the fourth quarter of 2022, almost 90% of Mukachevo Ttochpribor shares belong to Cyprus-registered Moroudon Investments Limited, while the ultimate beneficiaries in the state register are Irina Zodiatu and Gabriella Lazaridou.
Mukachevo-based Tochpribor specializes in the production of cable modules, loudspeakers for the automotive industry and transformers for telephone charging stations, cooperating with a number of foreign companies on the basis of tolling agreements.
According to the company’s financial report, it cut its net profit 4.7 times in 2021 to UAH 2.94 million, while its net income rose 45.7% to UAH 160.53 million.
Siemens, Nokia, Philips Motorola, Volkswagen, and General Motors were among the main consumers of the products.
By the beginning of 2022 the plant employed over 900 people.
