DMZ increased taxes and duties by 24.5% y/y in Q1

In January-March 2024, Dnipro Metallurgical Plant (DMZ) increased payments of taxes and fees to the budgets of all levels of Ukraine by 24.5% compared to the same period in 2023, to UAH 161.8 million. This is stated in the corporate newspaper of DCH Steel.

The amount of income tax paid by the company doubled to UAH 26.1 million, and environmental tax increased 4.5 times – to UAH 1.2 million.

The amount of accrued value added tax increased by 33.8% – to UAH 72.7 million. DMZ also paid UAH 19.1 million in unified social tax (+9.3%). Pension and other social taxes also increased.

In Q1 2024, DMZ reduced its rolled steel production by 60.6% y/y – to 11.5 thousand tons, while coke output increased by 52.2% – to 69.8 thousand tons.

As GMK Center reported earlier, in 2023, DMZ increased taxes and duties to the budgets of all levels of Ukraine by 64% compared to 2022, to UAH 657 million. In the structure of payments to the budgets of all levels, the largest amount is value added tax – UAH 277.5 million. Income tax amounted to UAH 122 million, and unified social tax, rent and other contributions amounted to UAH 257 million.

Last year, the company increased rolled steel production by 86.2% compared to 2022, up to 105.6 thousand tons. Last year, the company’s production of metallurgical coke increased by 38.5% compared to 2022, to 292.7 thousand tons.

Dnipro Metallurgical Plant is one of the largest metallurgical enterprises in Ukraine. It is part of DCH Steel, a division of DCH Group. DMZ produces the largest range of channels and angles in Ukraine. Currently, the company is the only domestic producer of special profiles for the machine building and mining industries.