Azovstal sees UAH 900 mln in profit in 2014

11:58, 12.03.2015 1 min read

Azovstal steel works (Mariupol, Donetsk region), part of Metinvest Group, saw UAH 915.891 million in net profit in 2014, while in 2013 the company saw UAH 2.513 billion in net loss, according to a company report on the holding of a general meeting of its shareholders scheduled for April 15.

The company said that undistributed profit reached UAH 3.167 billion as of late 2014.

Last year the plant increased current liabilities by 41.6%, to UAH 15.243 billion, and its long-term liabilities soared by 2.9 times, to UAH 2.827 billion. Azovstal boosted bills receivable by 37.8%, to UAH 11.376 billion.

The company's assets grew by 66.8% in 2014, to UAH 38.52 billion, including a rise of 92.5% in fixed assets, to UAH 20.197 billion.

The number of employees rose by 0.9% last year, to 12,293.

Azovstal cut production of rolled steel by 22.3% in 2014, to 3.521 million tonnes, steel output fell by 19.5%, to 3.599 million and cast iron output dropped by 18.1%, to UAH 3.151 million.