Business news from Ukraine

Kremenchuk Metalware Plant (KrZMW, Poltava region), a part of the assets of Kryukov Carriage Works (KVSZ), ended 2024 with a net profit of UAH 5.569 million, up 4.2 times compared to the same period in 2023.

According to the agenda of the company’s general meeting of shareholders scheduled for April 3, it is planned to leave the profit undistributed.

The shareholders are also planning to consider, among other things, the termination of the audit committee and early termination of its members’ powers, approve the supervisory board’s decision to appoint an external auditor (Poltava Bureau of Forensic Economic Expertise and Audit LLC) and the terms of the contract with it.

KrZMW specializes in the production of metal and wooden structures (impregnated wooden sleepers for broad gauge railways, supports for overhead telecommunication and power lines, kiosks, pavilions, containers).

The plant has been part of KVSZ since 2008. According to the Clarity Project, 75% of the company is owned by Estonian Skinest Finants, and the ultimate beneficiaries are Volodymyr Prykhodko, Chairman of the Supervisory Board and President of KVSZ JSC, and his wife Natalia.

In 2023, KrZMW earned UAH 1.32 million in net profit, up from UAH 0.28 million a year earlier, with net income growing by 44% to UAH 40.84 million, and in January-September last year, its net income more than doubled to UAH 60.1 million.
Retained earnings as of October 1, 2024 amounted to UAH 10.88 million.