By KYIV. Nov 10 (Interfax-Ukraine) – Kremenchuk road machinery plant (Kredmash, Poltava region) ended January-September of this year with a loss of almost UAH 26.91 million versus UAH 32.77 million of net profit for the same period in 2021.
According to the company’s reporting published on Tuesday in the disclosure system of the National Securities and Stock Market Commission, its net income decreased by 73%, to UAH 266.52 million.
From operating activities, the plant earned more than UAH 35.72 million in losses versus a profit of UAH 49.32 million a year earlier, and gross profit decreased 81.5%, to UAH 23.93 million.
As reported, in the first half of this year, Kredmash posted a UAH 39.86 million loss versus UAH 31.7 million of net profit in January-June 2021, and net income fell more than 66%, to UAH 236.6 million.
The report recalls that due to the full-scale military invasion of the Russian Federation, the enterprise experienced a number of failures and problems – a significant reduction in demand for asphalt and soil mixing plants, components and assemblies for them, the possibility of obtaining raw materials and kits, components and shipping products to Ukraine and abroad.
Production activities have also become more complicated due to the destruction of part of industrial facilities as a result of missile fire by the enemy on Kremenchuk on June 27.
Kredmash specializes in the development and manufacture of asphalt mixing plants, spare parts for construction and road equipment, tankers, bitumen trucks, iron and steel castings, consumer goods. In 2021, it sold products worth UAH 1.2 billion.
