Sukhaya Balka mine (Krivoy Rog, Dnipropetrovsk region), which belongs to Oleksandr Iaroslavskyi’s DCH group, increased its net profit in 2021 by 3.62 times compared with the previous year – up to UAH 1 billion 326.460 million from UAH 366.802 million.
According to the official information of the company to the agenda of the annual meeting of shareholders, scheduled for December 22, which will be held remotely, the undistributed profits at the end of last year amounted to 3 billion 418.682 million UAH.
The shareholders intend to summarize the results of work in 2021, approve reports and approve significant transactions of the company.
The draft resolution proposes to use the profit to replenish working capital.
At the meeting, there will be considered staff issues: termination of the power of the current members of the Supervisory Board and the Audit Committee and election of new members.
As reported, the Sukhaya Balka mine in 2020 decreased its net profit by 59.7% compared to the previous year – to 366.802 million UAH from 909.636 million UAH.
DCH Group acquired the mine from Evraz Group in May 2017.
Sukhaya Balka mine is one of the leading mining companies in Ukraine. It mines iron ore using the underground method. The mine includes the Yubileynaya and Frunze mines. Frunze.
“Sukhaya Balka” specializes in the extraction and production of marketable iron ore, which includes sinter ore (iron content 56-60%) and blast furnace ore (47% – 50%).
According to the NDU for the fourth quarter of 2021, Yaroslavskyy, who is listed as a citizen of the United Kingdom and a non-resident of Ukraine, directly owns 77.4193% of the mine, and a resident individual, Artem Aleksandrov, owns 20%.
The charter capital of Sukhaya Balka is UAH 41.869m, and the par value of a share is UAH 0.05.
