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“Azovstal” in 2016 received over UAH 0.5 billion profit against a substantial loss a year earlier

Metallurgical combine “Azovstal” (Mariupol, Donetsk region), part of Metinvest group, at the end of 2016, earned a net profit of 558,417 million UAH, while finished 2015 with a net loss of 1 billion 835,472 million.

According to the official announcement on April 28 the annual General meeting of shareholders, the retained earnings of the company by the end of 2016 amounted to 4 billion 925,560 million.

Last year, the steelmaker increased its current liabilities by 33% – to 24.95 billion, long-term – by 25.5% to 4,819 billion. At the same time, Azovstal increased its accounts receivable by 42.9 percent to 18,493 billion.

The assets of the steel plant in 2016 has increased by 24.5% – to 58.3 billion, including fixed assets – by 10.2%, to 28,6 billion UAH.

The number of factory workers over the past year fell by 14.1% to 10,260 thousand .

At the meeting, the shareholders intend, in particular, to consider questions of distribution of profit by results of work in 2016 and the payment of dividends.

The company is included into group “Metinvest”, the main shareholders of which are Donetsk JSC “System capital Management” (71,24%) and the group of companies “Smart-holding” (from 23.76%).

OOO “Metinvest holding” – managing company of Metinvest group.

Metinvest B. V. (Rotterdam, Netherlands) owns 74,66433% of the shares in the property Меtinvest International S. A. (Switzerland) – 21,5595% of the shares.

The authorized capital of PJSC “Azovstal” – 1,051 billion, the face value of the share is UAH 0.25.

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