Zaporizhia Metallurgical Plant Zaporizhstal, a member of Metinvest Group, reduced its net loss by 15.1% in 2020 compared to the previous year, to UAH 3.678 billion.
According to the company’s report, the consolidated net loss for this period decreased by 19%, to UAH 3.142 billion.
The negative financial result before tax in 2020 decreased by 9%, to UAH 4.500 billion, the consolidated pre-tax loss – by 11.8%, to UAH 3.965 billion.
At the same time, net income decreased by 1.9%, to UAH 45.631 billion, consolidated net income – by 1.8%, to UAH 45.376 billion.
Retained earnings by the end of last year amounted to UAH 13.073 billion, consolidated retained earnings – UAH 16.788 billion.
Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries of the world. The plant specializes in high-quality hot-rolled steel coils, hot-rolled sheets, cold-rolled sheets, cold-rolled coils made of carbon and low-alloy steels, as well as steel strip, black plate, bent sections.
The main consumers of the products are manufacturers of welded pipes, enterprises of automobile, transport, agricultural engineering, manufacturers of household appliances.
In 2020, Zaporizhstal metallurgical plant reduced the output of rolled products by 4.3%, to 3.204 million tonnes compared to the previous year.
According to the company’s press release, steel production last year decreased by 5.5%, to 3.784 million tonnes, while pig iron production increased by 2.5% to 4.471 million tonnes.
In December, 397,500 tonnes of pig iron, 345,600 tonnes of steel, and 287,600 tonnes of rolled products were produced, in November 387,600 tonnes of pig iron, 329,200 tonnes of steel, and 275,100 tonnes of rolled products.
“Zaporizhstal has strengthened its position in the markets due to the transformation of work with consumers: high discipline of order fulfillment and customization are on the same level as the quality of supplied products. Therefore, we finished 2020 with decent results and plans for 2021,” Zaporizhstal Director General Oleksandr Myronenko said.
Zaporizhstal is one of the largest industrial enterprises in Ukraine, the products of which are in a great demand among consumers in the internal market and in many countries of the world. The plant specializes in high quality hot-rolled steel, hot-rolled sheet, cold-rolled sheet, cold-rolled coil of carbon and low-alloy steels, as well as steel tape, black sheet, and a bent profile.
The main consumers of the products are manufacturers of welded pipes, automobile, transport, agricultural engineering enterprises,and household appliances.
Zaporizhstal is in the process of integration into Metinvest Group, the main shareholders of which are PJSC System Capital Management (71.24%) and Smart-Holding group of companies (23.76%).
Metinvest Holding LLC is the managing company of Metinvest Group.
Zaporizhstal metallurgical plant, affiliated with Metinvest Group, topped the list of the largest recipients of VAT refunds in March 2020 with UAH 859 million, which is more than twice as much as in February (UAH 404 million).
According to the State Treasury Service, Zaporizhstal is followed by ArcelorMittal Kryvyi Rih mining and metallurgical plant, which increased its tax refund indicator from UAH 579 million in February to almost UAH 611 million in March.
At the same time, Kernel-Trade agro-exporter, the leader among VAT refunds recipients in February, worsened its result by almost 2.3 times and ranked third with UAH 473.5 million (UAH 1.075 billion in February).
The five largest recipients of VAT refunds also included Glencore Agriculture Ukraine enterprises with UAH 450.7 million (there were no data on reimbursement last month) and ADM Ukraine with UAH 405.7 million (UAH 428 million in February).
The companies are followed by AT Cargill with UAH 334.7 million (data were not available in February). Mariupol-based Illich Steel Mill, affiliated with Metinvest Group, almost halved its result to UAH 313.4 million, while in February it received UAH 604 million.
