State-owned enterprise Electrotyazhmash (Kharkiv) in 2017 received a net profit of UAH 8.5 million, which is 35% higher than in the same period in 2016 (UAH 6.3 million), according to the company’s website.
The volume of products sold amounted to almost UAH 1.5 billion, in particular the share of export supplies was 90%.
According to the report, in 2017 Electrotyazhmash repaid loans to banks for a total amount of about UAH 24 million and will continue repaying them in 2018. At the same time, the plant did not borrow funds.
“The amount of contracts signed in 2017 exceeded UAH 3.5 billion, in particular those for the reconstruction of Kaniv and Kyiv stations, participation in the construction of the fourth block of Dnistrovska hydroelectric pumped storage power station. In addition, the plant won a tender for the reconstruction of equipment of Seredniodniprovska and Dniprovska stations. The work on these projects will continue in 2018,” the press service said citing director of the plant Dmytro Kostiuk.
Tariff rates and the wages of the company’s employees have been increased by 38% since October 2017.
According to Electrotyazhmash, over the past year it passed a number of complex inspections and completed the audit of financial statements for 2016 with the participation of the international company BDO. From 2018 the plant will be audited annually.
