Cabinet approves Turboatom fiscal plan for 2019 with rise in net profit by 5%, net income by 7%
The Cabinet of Ministers of Ukraine on November 21 approved the financial plan of JSC Turboatom (Kharkiv) for 2019 with a net profit of UAH 798.325 million, which is 4.6% more than the same planned figure for the current year.
According to an explanatory note to the financial plan, net sales income is expected to reach UAH 2.737 billion, which is 7.2% more than the planned figure for 2018.
At the same time, compared with the actual figures expected in 2018, the planned net profit in 2019 should increase by 20.3%, net income by 5.7%.
The planned share of exports for 2019 in sales amounts to 37.6% (including export operations concluded at the rate of UAH 30.5/$1), which is almost the planned share for the current year (37%).
The cost of sales is expected to increase by 7%, to UAH 1.598 billion compared to the 2018 plan due to the increase in expenditures on raw materials and basic materials, while the increase in administrative expenses by 28%, to UAH 132.54 million, is planned, first of all, due to the increase in labor costs (UAH 60.07 million against UAH 49.76 million for 2018).