ArcelorMittal Kryvyi Rih paid UAH 6.6 billion in taxes in 2024

In 2024, PJSC ArcelorMittal Kryvyi Rih paid UAH 6.6 billion in taxes and duties to the budgets of all levels of Ukraine, up 60% from 2023. This was reported to GMK Center by the company’s press service.

Local budgets received the largest share of UAH 3 billion, while the state budget received UAH 727 million. In addition, the company paid UAH 830 million in unified social tax and UAH 2.1 billion – in VAT on imports of raw materials.

The key factor behind the growth in tax payments was an increase in land tax paid. In 2024, the company transferred UAH 2.2 billion to the budget of Kryvyi Rih, which is UAH 0.8 billion more than last year. This tax has become the main source of additional revenue for the local community.

Pavlo Zadorozhnyi, Chief Financial Officer of PJSC ArcelorMittal Kryvyi Rih, emphasized the challenges faced by the company:

“ArcelorMittal Kryvyi Rih remains a reliable state partner despite war time challenges and difficult financial situation of the company. In 2024 the company strove to break even and carried out significant internal work to reduce costs. However, instability in energy supply due to enemy attacks, high electricity tariffs and the need for electricity imports, expensive logistics cost, unfavorable situation in global markets have, unfortunately, created additional obstacles. For the third consecutive year we still work with a loss. Despite all this, we continue to work on the improvement of operational and financial performance in order to be able to provide future development of the company and its staff, as well as provide stable tax revenues to the state budget and local communities,” he comments.

Despite the challenging circumstances, the company confirms its important role in the financial support of the state and the region.

As GMK Center reported earlier, in 2023, ArcelorMittal Kryvyi Rih paid UAH 4.1 billion in taxes and fees to the budgets of all levels of Ukraine. Of these, UAH 243 million went to the state budget and UAH 2.2 billion to local budgets. The company also paid almost UAH 751 million in unified social contribution (USC) and UAH 856 million in value added tax on imports of raw materials.

ArcelorMittal Kryvyi Rih is a full-cycle steelmaking enterprise in Ukraine. Its production facilities are designed to produce over 6 million tons of steel, 5 million tons of rolled products and 5.5 million tons of pig iron annually. The company employs over 20 thousand people.