20:38 24.03.2023

Karlovsky Machine-Building Plant cuts net profit by 9.5% in 2022

2 min read

In 2022, JSC Karlovsky Machine-Building Plant (KMZ Industries, Poltava region), a large Ukrainian manufacturer of silos, saw a net profit of UAH 61.34 million, which is 9.5% less than the same indicator in 2021.

According to the agenda of the general meeting of shareholders of the company scheduled for April 27, published in the information disclosure system of the National Commission for Securities and Stock Market, retained earnings of KMZ by January 1, 2023 reached UAH 187.8 million (a year earlier it was UAH 126.6 million).

The shareholders plan to use all the net profit received for the development of production, not to pay dividends.

As reported, the shareholders also decided to send the net profit of UAH 67.69 million for 2021 to the development of the enterprise.

According to the publication, in 2022, KMZ reduced current liabilities by 12.6% to UAH 335.13 million, there were no noncurrent liabilities (UAH 1.2 million a year earlier).

As of January 1, 2023, the company's assets were worth UAH 524.7 million (2.2 more), including total accounts receivable fell by 47.4% to UAH 100.9 million.

KMZ Industries manufactures, in particular, silos on a flat base, cone bottom, flour storage silos, mine Brice-Baker grain dryers (British design) and chipboard (Ukrainian design), transport equipment, assembles and automates silo equipment and technical processes at granaries.

As of the fourth quarter of 2022, Dragon Capital Investments Limited (Cyprus), whose ultimate beneficiary is Tomas Fiala, owned 80% of the shares of JSC KMZ, and Variant Agro Bud LLC held 20%.