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The net profit of the enterprises of UMMC reduced

18 May 2017

Enterprises provided the results regarding the financial activities in the first quarter of 2017. Thus, the net profit of the Uchalinsky GOK, a part of UMMC, was 560,8 million RUB. This figure compared with the same period of the previous 2016 reduced by almost half. Revenue UGOK fell by 1.2% to 5.4 billion RUB, while the cost increased by 20.7% to RUB 4.1 billion. The revenues of the plant generated by the profits derived from the sale of concentrates of copper and zinc. Negatively impact factor changing base metals prices on the London stock exchange, as well as fluctuations in the dollar rate. We must not forget payables. Since the beginning of this year it increased to the level of 2.26 billion RUB.

Uralelectromed also a member of the UMMC from January to March 2017 has reduced net profit compared to the same period last year by 7.7 times. The results amounted to 103,28 million RUB. The company’s revenue increased by 10.9% to 6,835 billion RUB. The cost, however, is also increased by 26.3%, reaching $ 5,479 billion RUB. On the activities of Uralelectromed is influenced by the pricing environment, the difference in exchange rates. Have had a certain impact and changes in the demand for copper in the global market. The basic consumers of production of the enterprise abroad are Iran, Germany, Switzerland. Supplies to the domestic market reaches 40%, a considerable part of the meat is processed in terms of the holding.

Representatives Uralelectromed shared plans for the second quarter of this year. During this period it is expected to install equipment that will allow to increase extraction of valuable metals. There are also plans to increase the resistance of the lining against short-drum furnaces.

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