Draft financial plan of Turboatom foresees 5% rise in net profit in 2019
The governmental economic committee has approved the draft financial plan of Turboatom for 2019, which provides for the increase in net profit of the company by almost 5% compared to 2018, to UAH 798 million, Head of the State Property Fund of Ukraine (SPF) Vitaliy Trubarov has said.
"In 2019 Turboatom should increase net income by more than UAH 183 million, which is 7% more than in 2018, while the share of export products should be 37.6%," he wrote on his Facebook page.
According to him, the cost of sales is expected to increase by 7% due to an increase in spending on raw materials and basic materials, while the increase in administrative expenses by 28% is planned primarily due to an increase in labor costs.
Turboatom is the only Ukrainian manufacturer of turbine equipment for hydro, thermal and nuclear power plants. The geography of the company's supplies covers 45 countries in Europe, Asia, America, and Africa.