PJSC ArcelorMittal Kriviy Rih, the biggest steel company of Ukraine, has announced its financial results for 2017.
Key financial results are as follows:
Net income from sales – $2.489 billion (UAH 66.19 billion).
Net profit – $0.19 billion (UAH 5.06 billion).
Amount of investments (CAPEX and OPEX) – $0.338 billion (UAH 9 billion).
In recent years, upon the decision of general meeting of shareholders, the received profit has been allocated for production development of PJSC ArcelorMittal Kriviy Rih. Among the key investment projects are construction of two new continuous casting machines (above $105 million), construction of new coke oven batteries Nos. 5 and 6 (above $150 million), reconstruction of sinter plant No. 2 (above $150 million) and BOF Shop with construction of new gas cleaning plants ($100 million), modernization of light-section rolling mill No. 4 ($45 million), as well as replacement and reconditioning of equipment and buildings at mining complex ($24 million). In addition to that, the company was investing in construction of new machines, capital and routine repairs of equipment, as well as improvement of the environment.
Modernization, renovation of production assets, increase of occupational safety and implementation of the large-scale investment program have been and remain the top areas for funding, including 2017.
In 2018 PJSC ArcelorMittal Kriviy Rih will continue investing in the renovation of production capacity. Planned amount of investment for this year makes $0.404 billion (UAH 10.9 billion). The total volume of investment to the production development till 2020 has been set at $1.2-1.5 billion. (AMKR/Ukrainian metal)