Kremenchuk Plant of Road Machines (Kredmash JSC, Poltava region) ended 2024 with a loss of UAH 13.08 million, down 23% from the same period in 2023.
According to the information on the agenda of the general annual meeting of shareholders of the company on April 18, the shareholders intend to approve the sources of loss coverage, in particular, at the expense of retained earnings of previous years, reserve capital and additional capital (funds for production development).
According to the company, in 2024, the uncovered loss also amounted to UAH 13.08 million, compared to UAH 16.95 million a year earlier.
The company’s current liabilities increased by 36.8% to almost UAH 54 million over the year, while long-term liabilities decreased by 2.2 times to UAH 4.5 million.
JSC “Kredmash” managed to reduce total accounts receivable by 46% to UAH 18.51 million, and assets increased slightly to UAH 515.54 million.
The net loss per ordinary share amounted to UAH 38.27 (UAH 49.6 a year earlier).
“Kredmash specializes in the development and manufacture of asphalt and soil mixing plants, spare parts for construction and road equipment, tank trucks, bitumen trucks, cast iron and steel castings.
According to the NSSMC as of the third quarter of 2024, the major shareholders of the JSC are the Chairman of the Supervisory Board and President Mykola Danyleiko (15.97% of shares), Chairman of the Board Oleksandr Tverezny (over 10.2%), as well as Euroautomation LLC (over 9.6%) and KDM Invest (9.8%).
Another 5% of the shares belonged to the former longtime director of the plant (until the early 2000s), Borys Muntyan, who, according to local press reports, died in November 2024.
According to the company’s financial report, in 2023, it 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.
The company sold only three asphalt and soil mixing plants (average selling price of UAH 21.5 million), as well as consumer goods worth UAH 69.95 million.
In January-September 2024, according to Clarity-project, the company’s net income decreased by 35% compared to the same period in 2023, to UAH 108.2 million.
As reported, 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.
JSC Kremenchuk Plant of Road Machines (Kredmash, Poltava region) in January-June increased the production and sales of asphalt and soil mixing units by 21.4% compared to the same period in 2020, to 34 units.
According to a report on the company’s website, in June, the plant shipped products to Vinnytsia, Odesa, as well as for export.
As reported, the growth in production and sales of products at the plant is primarily associated with the road construction program in Ukraine. In particular, in January-June last year, due to the intensification of road construction, the plant produced 28 units, while for the whole of 2019 – 26.
In June of this year, Kredmash also produced spare parts, components and assemblies for UAH 22 million, consumer goods – for UAH 10.4 million.
Kredmash specializes in the development and manufacture of asphalt mixing plants, spare parts for construction and road equipment, tank trucks, bitumen trucks, iron and steel castings, consumer goods (seamers).
In 2020, the plant produced and sold 54 units, net income increased by 12%, to UAH 1.088 billion, net profit tripled – to UAH 69.14 million. Some 61.3% of total sales were exported, and the main competitors at the plant are German-based Ammann, Teltomat, Lintec, Italian-based Mavini, Bernandi, Sim, Czech-based Askom, Finnish-based Amomatik.
