2022-05-25T18:22:00+03:00 Economy 2023-09-15T05:08:02+03:00

Ukrainian news

Ukrainian news

Kryvyi Rih Iron Ore Plant Ups Profit 2.4 Times To UAH 4 Billion, Ups Revenues 69% To UAH 11.2 Billion In 2021

Kryvyi Rih Iron Ore Plant Ups Profit 2.4 Times To UAH 4 Billion, Ups Revenues 69% To UAH 11.2 Billion In 2021

In 2021, compared to 2020, the Kryvyi Rih Iron Ore Plant (Dnipropetrovsk region) increased its net profit 2.4 times, or by UAH 2.235 billion, to UAH 4.024 billion.

The company has said this in a statement, Ukrainian News Agency reports.

In 2021, compared to 2020, the company increased net revenues by 69%, or by UAH 4.55 billion, to UAH 11.158 billion.

At that, in 2022, the plant plans to receive a net profit of UAH 3.98 billion and net revenues of UAH 12.424 billion.

In 2021, Kryvyi Rih Iron Ore Plant produced 4.3 million tons of commercial iron ore, while 2.016 million tons of ore were exported.

In 2022, the company plans to produce 4.332 million tons of ore.

As Ukrainian News Agency earlier reported, in 2020, compared to 2019, ryvyi Rih Iron Ore Plant increased its net profit by 7.3%, or by UAH 116 million, to UAH 1.699 billion.

The Kryvyi Rih Iron Ore Plant is one of the largest enterprises in Ukraine for the underground mining of iron ore.

99.88% of the shares of the iron ore plant are owned by Starmill Limited (Cyprus).

The company is controlled by the Metinvest group and the former owners of PrivatBank.