Nikopol Ferroalloys Plant has paid UAH 746 million of taxes since the beginning of the war

Nikopol Ferroalloys Plant for 5 months of 2022 increased its taxes by 174% compared to January-May 2021

The Nikopol Ferroalloy Plant transferred UAH 977.97 million of taxes to the central, regional and city budgets in 5 months. At the same time, UAH 746 million of taxes have been paid since the beginning of the Russian invasion of Ukraine, CEO of the plant Volodymyr Kutsyn reported.

The company transferred UAH 671 million to the state budget, UAH 68 million to the regional budget and UAH 83 million to the local budget.

According to Volodymyr Kutsyn, the amount of paid taxes for 5 months of 2022 is 174% higher than for January-May 2021.

Earlier the enterprise declared that for January-March it transferred to budgets 387 million UAH of taxes. Also, the leadership of the plant decided to allocate UAH 300,000 per month for the martial law in Ukraine for the needs of the Armed Forces of Ukraine.

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

According to the results of 2020, the plant reduced production by 29.1% compared to the previous year, to 513.3 thousand tons. Production of silicomanganese during the year decreased by 28.8% and ferromanganese by 31.5%. According to the results of 2020, the company received UAH 456.2 million in net profit compared to UAH 584.4 million of net loss in 2019.