Zaporizhia Iron Ore Plant Ups Profit 2.5 Times To UAH 5.2 Billion In 2021

In 2021, the Zaporizhia Iron Ore Plant (Dniprorudne, Zaporizhia region), according to preliminary data, increased its net profit 2.5 times or by UAH 3.145 billion to UAH 5.193 billion, compared to 2020.

This is stated in the agenda of the meeting of shareholders of the enterprise, scheduled for July 15, Ukrainian News Agency reports.

It is planned to leave the profit received at the end of 2021 undistributed.

The Zaporizhia Iron Ore Plant’s assets at the end of 2021 compared to 2020 increased by 29.5% to UAH 13.872 billion, current liabilities increased by 58.8% to UAH 2.775 billion, total receivables decreased by 4.2% to UAH 2.3 billion, long-term liabilities increased by 17.2% to UAH 1.072 billion.

As Ukrainian News Agency earlier reported, the Zaporizhzhia Iron Ore Plant stated the loss of control over the activities of the enterprise located in the territory temporarily occupied by Russian troops.

In 2020, the Zaporizhia Iron Ore Plant, according to international financial reporting standards, increased its net profit by 51.4%, or by UAH 695.219 million, to UAH 2.048 billion, compared to 2019.

The Zaporizhia Iron Ore Plant produces commercial iron ore at the Pivdenno-Bilozerske and Pereverzevske deposits.

The 51.17-percent stake in the Zaporizhia Iron-Ore Plant belongs to Minerfin (the Slovak Republic), 29.5% to Zaporizhstal and the 19.06-percent stake to KSK Consulting (the Czech Republic).