UZTM-KARTEX Group balances nine-months accounts

Published date: 15 Dec 2020

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UZTM-KARTEX Group, part of machine-building division of Gazprombank, showed growth of all key indicators in three quarters of 2020.

According to the consolidated IFRS statements presented by UZTM-KARTEX Group for nine months of 2020, its revenues amount to 18.5 billion rubles, i.e. 13 % on top of the same indicator achieved in the previous year, which was record-breaking for the Group. EBITDA remained at the same level of 3.9 billion rubles; the net profit doubled and amounted to 2.8 billion rubles.

"The positive trends are typical for all enterprises of the Group, however the most important event is that "Uralmashplant" JSC achieved the break-even point: according to its nine-months accounts 2020 the enterprise cleared 211 billion rubles for the first time in the last fourteen years," said Dmitry Vasilkov, Deputy General Director, Economics & Finances, UK UZTM-KARTEX, LLC.

UZTM-KARTEX plans to raise revenues of 26 billion rubles approximately toward the end of 2020, and the anticipated net profit will amount to 3 billion rubles.