UZTM-KARTEX Group sums up the half-year results

Published date: 21 Aug 2020

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UZTM-KARTEX Group, association of the largest manufacturers of mining equipment “Uralmashplant” JSC and “IZ-KARTEX” LLC, showed growth of all key financial indicators for the first six months of 2020 compared to the same period of 2019.

According to the consolidated Group statements reported in compliance with IFRS, the revenue of the enterprise for the first half of 2020 was RUB 11.9 billion that is RUB 1.6 billion (16%) more than in the first half of 2019. The Group plans to maintain the revenue growth in 2020 by selling 45 mining shovels, 33 units of crushing and milling equipment, 11 units of materials handling equipment and mine hoists. 

The Group's net profit also increased 2.1 times this year compared to 2019, and reached 1.4 billion rubles.

All the Group's enterprises continued implementing RUB 3 billion worth investment programs aimed at upgrading production facilities. “IZ-KARTEX” purchases gear-grinding and gear-shaping machines to manufacture parts of gear systems, which are key components for the entire transport engineering industry.