Zaporizhstal intends to receive 4 billion UAH of net profits in 2016, up from 1.8 billion UAH in 2015.
The beginning of the year was very difficult both for Zaporizhstal and for the world metallurgy.
“I would even call this period (late 2015 – early 2016) the strongest crisis on the market for the past 5 years. Metal prices have fallen 3-fold. All the companies worked with losses”, Zaporizhstal CEO Rostislav Shurma said.
The company was able to stay afloat thanks to the modernization and efficiency increase.
“From Q2 situation on the world markets started improving. So this year financial indexes will be quite positive”, he said. (Ukrainian metal)