Uralmashplant shows financial growth

Published date: 06 Aug 2020

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In the first half of 2020, the largest Russian manufacturer of mining equipment "Uralmashplant" JSC showed growth of all key financial indicators; the revenues and operating profit increased by a factor of 1.7 and 3.8, respectively, compared to the same period of 2019.

According to IFRS data (w/o subsidiaries) the revenue of the enterprise for six months of 2020 exceeded RUB 6 billion, i.e. RUB 2.4 billion more than in the first half of 2019 (+65 %). EBITDA doubled and achieved RUB 550 million. The operating profit obtained by Uralmashplant also grew; it almost quadrupled and achieved RUB 345 million.

The revenue growth is due to the stock of orders received in 2019: in the first half of this year UZTM already shipped 4 shovels, 21 pieces of crushing and grinding equipment. This is comparable to the figures for the entire last year, when UZTM shipped 22 crushers to customers.

In the second half of 2020, Uralmashplant will keep the performance growth rates. The predicted IFRS-based year-end revenue of Uralmashplant will reach record high of RUB 14 billion.