Vyshnivskyi Foundry and Forging Plant (VLKZ, Kyiv region) reduced its net profit by 35.9% in 2024 compared to 2023, to UAH 2.987 million from UAH 4.663 million.
According to the annual report for 2024, the company’s net income decreased by 25.7% to UAH 68.327 million.
Retained earnings at the end of 2024 amounted to UAH 12.594 million.
According to VLCP’s announcement in the National Securities and Stock Market Commission’s (NSSMC) information disclosure system that it will hold a remote general meeting of shareholders on April 11, the shareholders will consider the report of the Supervisory Board for 2024 and make a decision based on the results of such consideration.
In addition, the shareholders will approve the results of financial and economic activities for the past year and determine the distribution of profits. It is planned to decide on the payment and approval of the amount of annual dividends and the method of their payment.
The draft resolutions, a copy of which is available to Interfax-Ukraine, propose to distribute the company’s net profit for 2024 in the amount of UAH 2 million 986 thousand 873.04 as follows 75%, which amounts to UAH 2 million 240 thousand 285.41, to be used to pay dividends; 25%, which amounts to UAH 746 thousand 587.63, to be left undistributed. To pay dividends for 2024 directly to shareholders in the amount of UAH 1.563 per share.
In addition, the shareholders will approve a new version of the charter, amend the company’s bylaws and give prior consent to enter into significant transactions.
As reported, VLCP increased its net profit by 2.1 times compared to the previous year to UAH 7.099 million in 2022. Retained earnings by the end of 2022 amounted to UAH 13.077 million.
VLKZ was founded in 1990 on the basis of the foundry and forging shops of the Artem Kyiv Production Association. It specializes in the production of forging and casting products.
According to the third quarter of 2024, the company’s shares are owned by a resident individual, Victoria Gryshchenko, who holds 18.5947% of the company’s shares, while Aviation and Rocketry Engineering Company JSC owns 51.0001%.
The authorized capital is UAH 358 thousand, the nominal value is UAH 0.25.
