NFP ended January-September with a loss of UAH 3.4 billion

Nikopol Ferroalloy Plant JSC (NFP) ended January-September 2023 with a net loss of UAH 3.44 billion, while in the same period of 2022 the company received UAH 831.69 million in net profit. This is evidenced by the data of the report in the information disclosure system of the NSSMC, Interfax-Ukraine reports.

According to the report, the company’s net income in January-September 2023 decreased by 21.3% compared to the same period in 2022 – to UAH 7.74 billion.

The company’s retained earnings for the period amounted to UAH 5.99 billion.

In January-September, Nikopol Ferroalloy Plant produced 39.63 thousand tons of ferrosilicon manganese and sold 58.95 thousand tons.

NFP ended the first quarter of 2023 with a loss of UAH 2.17 billion, and for the first half of the year the loss amounted to UAH 1.72 billion.

In 2022, the company reduced net profit by 82.3% y/y – to UAH 910.45 million, net income by 51.3% y/y – to UAH 11.39 billion. During the year, NFP produced 440.37 thousand tons of ferrosilicomanganese.

As GMK Center reported earlier, in November 2023, NFP decided to temporarily suspend production of ferroalloy products in winter to save labor and equipment, as the aggressor’s shelling of the energy infrastructure intensifies in winter. At the same time, the plant will continue to carry out construction and repair work related to the modernization of equipment and energy communications, which have been repeatedly damaged by shelling.

The company plans to resume work after the threat of shelling of the energy system of Ukraine is eliminated. Commercial products in the warehouses of the plant are sufficient to provide for Ukrainian consumers.