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Net income of the enterprise for January-June decreased by 9.9%

Nikopol Ferroalloy Plant (NFP) in January-June 2022 reduced its net profit by 7.4 times compared to the same period last year – to UAH 223.2 million. This is reported by Interfax-Ukraine with the reference to the company’s interim report.

The company’s net income for the first half of the year amounted to UAH 9.05 billion, which is 9.9% less than the same period last year.

Undestributed profits reached $8.4 billion by the end of June 2022.

As GMK Center reported earlier, following the results of the first quarter 2022, the NFP increased its net profit by 25% compared to the same period in 2021, to UAH 424.4 million. The company’s net income increased by 0.4%, to UAH 175.9 million.

Also, in 2020 NFP received UAH 456.2 million of net profit compared to UAH 584.4 million net loss a year earlier. The company’s net income for the year decreased by 23.2% compared to the previous year, to UAH 12.5 billion. Retained earnings amounted to UAH 2.8 billion.

Nikopol Ferroalloy Plant is the largest producer of silico- and ferromanganese in Ukraine. The enterprise produces ferroalloys from imported and Ukrainian raw materials.

The enterprise uses manganese raw materials from South Africa and Ghana, as well as domestic raw materials from the Marganetsky and Pokrovsky mining and processing plants.