Business news from Ukraine

“Zaporizhstal” reduced net loss by 92% in January-September

2 January , 2024  

In January-September of this year, PJSC “Zaporizhstal Iron and Steel Works” reduced its net loss by 91.8% compared to the same period last year – to UAH 236.623 million from UAH 2 billion 883.850 million.

According to the company’s interim report in the NSSMC’s information disclosure system, its net income for the period increased by 9.2% to UAH 41 billion 329.014 million.

Retained earnings as of the end of September 2023 amounted to UAH 28 billion 961.786 million.

As reported, Zaporizhstal ended 2022 with a net loss of UAH 4 billion 864 million 684.828 thousand, while in 2021 it made a net profit of UAH 16 billion 809 million 158.412 thousand.

“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are widely known and in demand in the domestic market and in many countries around the world.

According to the NDU for the third quarter of 2023, Kyiv Securities Group LLC owns 24.5003% of Zaporizhstal shares, Midland Capital Management LLC (both Kyiv, registered at the same address) owns 11.2224%, Global Steel Investments Limited (UK) owns 12.3466%, and Metinvest B.V. (Netherlands) owns 47.0032%.

Earlier it was reported that Metinvest Group’s effective shareholding in Zaporizhstal remains at 49.9%.

“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%).

Metinvest Holding LLC is the management company of Metinvest Group.