Slavianske Wallpapers-KFTB PJSC (formerly Koryukiv Technical Paper Factory, Chernihiv Region), Ukraine’s leading manufacturer of wallpapers, cut its net profit 5.5 times in January-September compared to the same period in 2021 – down to UAH 8.47 million.
According to the disclosure system of the National Commission for Securities and Stock Market, announced on Friday, the company’s net profit nearly halved to UAH 653.19 million.
In the first nine months of the current year the company received UAH 12.42 mln of profit from operating activities (4.7 times less), and gross profit decreased by 47.4% – to UAH 124.88 mln.
The document notes that in conditions of war and existing risks it is impossible to predict the further impact of negative factors on the economic activities of PJSC, but the strategic objectives remain unchanged: to preserve the existing opportunities and the reputation of a reliable supplier, to improve product quality, to retain the team.
“In addition, the company plans to continue modernization of production, development of dealer network, entering new markets and strengthening of discipline at production”, – is said in the report.
This points to high financial independence of the company from external borrowing and stable financial situation.
According to the association UkrPapir, in January-September, KFTB produced 10.07 million pieces of wallpaper – 2.5 times less than a year earlier.
On Friday, KFTB also released its financial statement for the first half of this year, according to which it received a net loss of UAH 3.6 million against a net profit of UAH 30.22 million a year earlier, while net income fell by more than half to UAH 363.89 million.
Thus, in the third quarter-2022 the factory received more than UAH 12 million of net profit, which is 26.2% less than in the same period of 2021, and net income decreased by 44.5% to UAH 289.3 million.
At that, the factory finished the first quarter of this year with a loss of UAH 9.16 million against net profit of UAH 14.94 million in January-March 2021, while net profit decreased 2.1 times to UAH 170.41 million.
JSC “Slavian wallpapers-KFTB” – one of the largest European wallpaper factories, manufactures products under the TM “Slavian wallpapers”. Is present in the market of Ukraine, Asia, CIS countries, Eastern Europe and the United States.
The company produces more than 10 types of wallpaper ranging from economy-segment (paper, duplex, acrylic) to premium-class wallpaper (vinyl, fleece, hot stamping wallpaper).
According to the company’s information, as of October 1, the average number of its employees was 468 (a decrease of 12 people).
In 2021, it reduced its net profit by 6.2 times to UAH 43.9 mln, while maintaining the net profit at the level of the previous year – UAH 1.65 bln.
