Interpipe NTZ ended 2022 with a loss of UAH 1.23 billion

In 2022, Interpipe Nizhnyodniprovsky Pipe Rolling Plant (Interpipe NTZ) increased its net loss by 2.5 times – up to UAH 1.24 billion. Interfax-Ukraine reports about it.

The company’s retained earnings at the end of 2022 amounted to 2.94 billion. The annual meeting of Interpipe NTZ’s shareholders is scheduled for April 28, 2023.

At the meeting, it is planned to sum up the results of the company’s activities in 2022, to adopt major agreements, as well as to decide on plans for the current year.

Among the plans for 2023, Interpipe NTZ notes:

• improvement of the quality management system;
• increasing the level of consumer satisfaction by improving the quality of products and technological processes;
• expansion of the product range and sales markets;
• implementation of the technical modernization program.

Interpipe NTZ ended 2021 with a net loss of UAH 486.4 million.

As GMK Center reported earlier, Interpipe Vtormet completed 2022 with a net loss of UAH 10.28 million compared to UAH 14.23 million of net profit in 2021.

Interpipe NTZ in the fall of 2022, despite the decline in the wagon repair segment, shipped record volume of wheel pairs for European customers. The European market will become the main consumer of wheels and wheel pairs for rolling stock in 2022. Its share in the total volume of sold products reached 50%. No less important positions belong to the Ukrainian market and ensuring the operation of critical railway infrastructure.