KYIV. April 24 (Interfax-Ukraine) – Weidmann Malyn paper factory (MPF, Zhytomyr region), the producer of electrical insulating board for power engineering machines in Ukraine, saw a 4.3-fold rise in net profit in 2016, reaching UAH 36.06 million.
According to a company report, net revenue grew by 23%, to UAH 511.04 million.
The factor saw UAH 107.52 million of gross profit (UAH 98.25 million a year ago), while its operating profit fell by 6.7%, to UAH 63.44 million.
As reported, in 2015 the company saw UAH 8.45 million of net profit compared to UAH 41.13 million of net loss in 2014.
According to the report, in 2016 the factor sold over 4,000 tonnes of paper for UAH 193.63 million and 5,750 tonnes of cardboard for UAH 282.19 million.
Some 30% of electrical insulating paper and crepe paper was sold in Ukraine, 20% in the CIS and 40% in other countries.
The key rivals in production of these types of paper are Russia’s Segezha pulp and paper mill and Energia LLC.
Transformer board was mainly sold in non-CIS countries (50%), as well as in Ukraine (20%) and CIS countries. The key rivals are Russian, Turkish and German companies.
MPF Weidmann is a member of the WICOR international group, the only company in Eastern Europe that can supply almost all kinds of electrical insulating paper and cardboard meeting regional and international standards.
