"United Mining and Chemical Company" | News | In Q1 “United Mining and Chemical Company” recorded net profit of almost UAH 45 mln

UMCC
In Q1 “United Mining and Chemical Company” recorded net profit of almost UAH 45 mln

02.07.2015

A State enterprise “United Mining and Chemical Company” (SE “UMCC”) operating Vilnohirsk MMP and Irshansk MPP recorded a net profit of UAH 44,866 mln at the first quarter-end of 2015.
As it was informed earlier in the released quarterly account of the enterprise, net income in the first quarter of the year 2015 is amounted UAH 215, 090 mln, and gross profit – UAH 94,326 mln.
Undistributed profit reached UAH 45,229 mln at the end of the March this year.
According to annual report, in 2014 UMCC recorded net profit of UAH 530 thousand and net income was absent. Undistributed profit was UAH 443 thousand at the end of the year.
Comparable data for the same period of the last year and year 2013 are not given.
Group DF of Dmytro Firtash, that has been controlling “Crimea Titan” earlier, informed that net profit of Vilnohirsk Mining and Metallurgical Plant (VMMP, Dnipropetrovsk region) and Irshansk Mining and Processing Plant (IMPP, Zhytomir region), integral property complexes of which were taken on lease by “Crimea Titan” PJSC since year 2004 till September 2014 amounted UAH 36 mln in 2013.
At the beginning of the year 2014 the Prime Minister Arseniy Yatsenyuk, speaking in favour of a termination of the leasing contract, accused the previous management of the plants of understatement of the rental payment. “At profits minimum UAH 1 billion per year, the State got only UAH 100 mln” – said the head of the Government.
As informed earlier, Cabinet of Ministers of Ukraine transferred the management of integral property complexes of Irshansk Mining and Processing Plant and Vilnohirsk Mining and Metallurgical Plant to a Ministry of economic development and trade (MEDT) after the end of the plants leasing by “Crimea Titan”. It was done according to an ordinance №406 from August 06, 2014.
“United Mining and Chemical Company” (at first SE “Vilnohirsk State Mining and Metallurgical Plant”) is established by the Ministry of Industrial Policy of Ukraine in 2009. At this time a general director of this company is Ruslan Zhyrilo.
Authorized capital of SE “UMCC” is UAH 671,149 mln.