Donetskstal in 2012 lost more than 60 percent of profit

Last year, 442 million 29 thousand hryvnias received net profit of Donetskstal- Metallurgical Plant, which is 62.7% (-743 million UAH) less than in 2011, the National Commission of Ukraine on Securities and the Stock Market (NKCBFR) reports.

As stated in the system of disclosure of the NKTSBFR information, the consolidated assets of the company decreased by 1.9% in 2012 to 12 billion 198 million hryvnias. The amount of revenue received last year is not indicated. Current obligations - 3 million 808 thousand 886 hryvnias, total receivables - 6 million 396 thousand 704 hryvnias.

Profit was received contrary to the expectations of the manager of Donetsk. As previously reported, they assumed that in 2012 the company would report on losses of about 360 million hryvnias.

In 2011, PREO Donetskstal-Metallurgical Plant received net profit 1 million 185 thousand 826 hryvnias, raising net income by 18.35%, or 3 million 484 thousand 74 hryvnia to 22 million 465 thousand 837 hryvnias compared to 2010.

How are we reported , the PRO of Donetskstal- a metallurgical plant "intends to release eurobonds for the amount equivalent to $ 500 million to replenish the working capital.

The plans of the plant managers increase steel production this year to 433 thousand tons (+260%), bring the cast iron smelting to 1 million 428 thousand tons (+9%), raise the production of sheet metal operating to 120 thousand tons (+50%) and increase the production of varietal metal products to 358 thousand tons (+260%).

To fulfill the plan, the owners of Donetskiyal decided to modernize the metallurgical capacities of the plant and invest more than 440 million hryvnias for these purposes.