Zaporozhstal completed 7 months. from 143 million USD net profit compared to a significant loss a year earlier

aporozhsky Iron and Steel Works "Zaporizhstal" for January-July was 143 million USD of net income. This was announced at a press conference, General Director of "Zaporizhstal" Rostislav Shurma.

"For seven months of 2013 net profit of IC" Zaporizhstal "according to international standards of financial and economic reporting was USD 143 million compared to a loss of $ 626.1 million USD for 7 months of 2012," — said Shurma.

 

Thus, according to him, the gross margin combine for 7 months in 2013 amounted to USD 768.1 million, exceeding 2.6 times the gross profit for the January-July 2012 (294 million USD).

The main reasons for the growth of the financial and economic indicators CEO "Zaporizhstal" called the increase in the January-July sales compared with the same period last year by 2.6% (to the Ukrainian market — by 2%, in export — by 3.4% ) and the reduction of production costs, while increasing production volumes.

"For seven months in 2013 achieved a significant reduction in the cost of production: it amounted to 7,747 million USD, whereas in January-July 2012 amounted to 8,966 million USD", — stated Shurma.

Reference

Zaporozhye Iron and Steel Works "Zaporizhstal" entered the mining and metallurgical group "Metinvest" in the summer of 2012, when the Metinvest BV, the parent company of "Metinvest" bought out the business of the "industrialization" a majority stake in the plant.

The plant produces pig iron, slabs, different types of products. For a number of different products has a monopoly on the national market.

For 7 months of 2013 the company increased production of metal compared to the same period in 2012 by 3.3% — up to 1.863 million tons, while steel production during this period increased by 1.3% — up to 2.208 million tons.

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