Zaporizhzhya Heavy Crane Building Plant (Zaporizhzhya Heavy Cranes), part of Finnish company Konecranes, ended 2024 with a loss of UAH 17.04 million, which is 5.7 times less than in 2023.
“The company’s net loss for the year decreased to UAH 17,044 thousand (2023 – UAH 97,192 thousand), which the company’s management intends to cover after the end of martial law and the full resumption of the company’s operations,” the financial report published on the company’s website says.
The uncovered loss of Zaporizhkrán JSC as of the beginning of this year amounted to UAH 178.1 million.
The company incurred a loss of UAH 1.24 million from operating activities (in 2023 – UAH 75.8 million), while gross profit increased by 67% to UAH 76.04 million.
According to the report, Zaporizhkrans net income grew by 17% to UAH 190.5 million.
Current liabilities for the past year decreased by 11% to UAH 466.4 million, while long-term liabilities increased by 40.6% to UAH 7.4 million.
Zaporizhkrans was founded in 1928. Since 2005, its main shareholder has been Konecranes, a leading global manufacturer of cranes and lifting equipment based in Finland. The parent company is Zaporizhzhya Crane Holding.
The average number of employees at the plant in 2024 was 298 (8 fewer than a year earlier).
The company specializes in the production of bridge, gantry, and special-purpose cranes and components for them, as well as metal structures. Over 95% of its products are exported.
“The company has adapted its business processes to the conditions of martial law and continues to operate in the territory controlled by Ukraine, with its assets located at a relatively safe distance from areas of active combat operations,” the report said.
As reported, in 2023, Zaporizhkrán reduced its losses by 20% compared to the previous year, to UAH 97.2 million, with a 47.3% decrease in revenue, to UAH 162.55 million.
