By KYIV. Dec 30 (Interfax-Ukraine) – PrJSC Slovianski Shpalery-KFTB (formerly Koriukivka industrial paper factory, Chernihiv region), a leading Ukrainian wallpaper manufacturer, in January-September reduced its net profit by 81.8% compared to the same period in 2021, to UAH 8.47 million.
According to a company’s report published on Friday in the disclosure system of the National Securities and Stock Market Commission, its net income has almost halved to UAH 653.19 million.
In the first nine months of this year, the company saw UAH 12.42 million of profit from operating activities (78.7% less), while gross profit fell by 47.4% to UAH 124.88 million.
According to the document, in the conditions of war and existing risks, it is impossible to predict the further impact of negative factors on the economic activities of the company, but the strategic goals remain unchanged: to maintain existing capabilities and reputation as a reliable supplier, improve product quality, and retain the team.
"In addition, the company plans to continue the modernization of production, the development of a dealer network, the development of new markets, and the strengthening of discipline in production," the company said in the report.
At the same time, the high financial independence of the enterprise from external borrowings and a stable financial condition are indicated.
According to the UkrPapir association, in January-September Slovianski Shpalery-KFTB issued 10.07 million conventional pieces of wallpaper – 60% less than a year earlier.
PrJSC Slovianski Shpalery-KFTB on Friday also released its financial statements for the first half of this year, according to which it received a loss of UAH 3.6 million versus a net profit of UAH 30.22 million a year earlier, with a decrease in net income by more than half, to UAH 363.89 million.
Thus, in the third quarter of 2022, the factory received more than UAH 12 million in net profit, which is 26.2% less than in the same period in 2021, while net income plummeted by 44.5% to UAH 289.3 million.
At the same time, the factory finished the first quarter of this year with a loss of UAH 9.16 million versus a net profit of UAH 14.94 million in January-March 2021, net income decreased by 52.4%, to UAH 170.41 million.
PrJSC Slovianski Shpalery-KFTB is one of the largest European wallpaper factories, producing products under the "Slovianski Shpalery" trademark. It is present on the Ukrainian market, in Asia, the CIS, Eastern Europe and the United States.
It produces more than 10 types of wallpapers from the economy segment (paper, duplex, acrylic) to premium-class wallpapers (vinyl, non-woven, hot stamping wallpapers).
According to the information of the enterprise, as of October 1, the average number of its employees is 468 people (fell by 12 people).
