Ukraine: metal companies losses down to 12 billion UAH
In January-June Ukrainian metal companies received 12 billion UAH of losses, down by 5.5% YoY.
In January-June Ukrainian metal companies received 12 billion UAH of losses, down by 5.5% YoY.
In January-May Ukrainian metal companies decreased their pre-tax loss by 14.1%, to 11 billion UAH from 12.8 billion UAH in 2014.
According to the Ukrainian Federation of Metallurgists, the state owes 7 billion UAH of unpaid VAT to the mining-metallurgical complex of Ukraine.
The majority of mining and metal companies in Ukraine have been on the verge of bankruptcy since 2014, which they managed to avoid only thanks to the devaluation of the national currency and the improved competitiveness of Ukrainian products on foreign markets, Metinvest CEO Yuriy Ryzhenkov said.
The pretax losses of Ukrainian metal companies (negative financial results from ordinary activities before taxation) rose by 84.4%, to UAH 22.5 billion, from UAH 12.2 billion as of the end of 2014, according to preliminary data.
Euroasian Economic Commission has informed of the prolongation of the antidumping investigation of hot-rolled carbon and alloyed steel rods, produced in Ukraine and exported to the Customs Union.
Industrial prices in Ukraine after stability in December 2014 have started growing again, rising for the first month of the New Year by 2.3%.
In January-September Ukrainian metallurgical companies decreased capital investments into technical overhaul and modernization by 27.5%, or 783.2 billion UAH, to 3,695 billion UAH YoY. In 2013 companies mostly invested in construction of new objects and the already going reconstruction and modernization of existing capacities. Vital to the sector are the modernization of furnace manufacture and…