Interpipe increased the amount of tax payments by 59% y/y in 9 months

During 9 months of 2023, the Ukrainian industrial company Interpipe, producer of steel pipes and railway products, transferred UAH 3.185 billion to the budgets of all levels and extra-budgetary funds. Compared to the same period last year, the volume of tax payments increased by 59%. It is stated in the company’s press release.

Payments to the state budget amounted to UAH 2.4 billion, to local budgets – UAH 363 million, and another UAH 415 million were transferred as SSC.

As Interpipe’s director of economics and finance Sergiy Kuzmenko explained, a significant increase in tax payments to budgets of all levels is due to a low base of comparison.

«Last year, the Interpipe enterprise was idle for several months, this year they are working stably and producing products with great added value for Ukrainian consumers and for export. This guarantees not only an increase in tax payments, but also jobs for thousands of people in the frontline region,» he noted.

In 2022, the company transferred UAH 2.8 billion to the budgets of all levels.

As GMK Center reported earlier, Interpipe in January-June 2023 increased production of steel by 20.3% compared to the same period in 2022 – up to 344 thousand tons. The production of pipe products in the first half of 2023 increased by 1.9% compared to January-June 2022 – up to 209 thousand tons, and railway – by 17.5% y/y, up to 47 thousand tons. At the same time, the company notes that in the first half of 2022 the capacities were suspended for 2-2.5 months, and they do not consider it representative to compare the results with the same period of the past year

Interpipe showed a high level of stability during the war, said Denys Morozov, director of the tube division, in interview for GMK Center. Despite the difficult security situation, the company not only maintains a team of 10,000, but also develops sales abroad, especially to the European market. The first goal remains to increase sales of premium products, and this applies to all markets – both Europe and the Middle East, the US, etc. In addition, the company has set up more than 100 types of new products for Europe and will master more than 200 more in the future.