TAS Dneprovagonmash LLC (DVM, Kamianske, Dnipro region), controlled by businessman Sergiy Tigipko’s TAS Financial and Industrial Group, posted a consolidated net profit of UAH 40.37 million in January-June, down almost 2.4 times compared to the same period in 2023.
According to the company’s interim report, published on Thursday in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its consolidated net income increased by 35% to UAH 1.01 billion.
The report notes that the consolidated financial statements include the performance indicators of the car-building company TAS Dneprovagonmash LLC and its subsidiary, the casting manufacturer TAS Steel Plant LLC.
As reported, in the first half of the year, TAS Dneprovagonmash’s unconsolidated net profit amounted to UAH 18.85 million, three times less than a year earlier, while unconsolidated revenue grew by 37.8% to UAH 796.47 million.
According to the report, the company’s consolidated net income includes revenue from railcar sales of UAH 773.87 million (56% more than in January-June 2023), revenue from sales of castings and shot of UAH 213.7 million (25.7% more), revenue from sales of spare parts of UAH 21.2 million (35% more) and services rendered (almost UAH 1 million), including railcar repairs.
As reported, in early 2023, TAS Group became a strategic investor in the TransAnt GmbH railcar building joint venture of Austrian Voestalpine and ÖBB Rail Cargo with a 40% stake, and in the spring of 2024 it became the majority owner of TransAnt, increasing its stake to 61%.
According to the company, in the second quarter of 2024, it shipped platform cars for the EU market as part of the project.
This year, the company plans to invest UAH 100.2 million in the development of the European direction (for the purchase of equipment).
In early August 2024, the company announced on its website the acceptance of 1.5 thousand different railcars by an international company without disclosing details, and on August 20, it announced a contract with the logistics company Balk Trans for the supply of 100 grain cars.
As reported, in 2023, TAS Dneprovagonmash produced 378 freight cars (including for the EU market), which is 34.8% less than in 2022, while sales decreased by 40.6% to 370 units. Non-consolidated revenue decreased by 2.8% to UAH 1 billion 77 million, while net profit increased slightly to UAH 49.2 million.
TAS Group was founded in 1998 by businessman Sergey Tigipko. Its business interests include the financial sector (banking and insurance) and pharmacy, as well as industry, real estate, and venture capital projects.
