"United Mining and Chemical Company" | News | PJSC UMCC among Top 10 most profitable state enterprises in Ukraine

PJSC UMCC among Top 10 most profitable state enterprises in Ukraine
PJSC UMCC among Top 10 most profitable state enterprises in Ukraine

28.08.2017

United Mining and Chemical Company was ranked ninth among the largest most profitable state-owned enterprises of Ukraine based on financial results of 2016, according to the financial statements of the companies in the government sector, published on the official website of the Ministry of Economic Development and Trade of Ukraine (MEDT).
In the rating complied by the company's specialists based on the reports of the ministry, the company finished the financial year 2016 ahead of such enterprises as State Enterprise MTP Pivdenniy, State Enterprise Skhidniy Mining and Processing Plant and National Joint Stock Company EnergoAtom based on the indicators of net income.  State Enterprise UkrKhimTransAmmiak, Public Joint Stock Company Turboatome and other companies in the machine engineering, transport, port and energy industries ranked higher than PJSC UMCC.
Noteworthy, in 2015, United Mining and Chemical Company was not included in the Top 100 largest state-owned enterpises, compiled by the Ministry of Economic Development and Trade. It was not mentioned in the rating of profitable state-owned enterprises. That is why, the company's staff is very proud of their achievements and of the company being recognized at such high level.
“We are extremely proud that our company has achieved such an outstanding financial result at the level of the largest state-owned enterprises of the country, having thus emphasized its role in the planning of the state socially-oriented policy. After all, it is not only the indicator of the high result of world of several thousand strong staff of the company that is behind these figures. Being included in the Top 10 is, primarily, the tax load that the company is prepared to bear with dignity in these difficult for Ukraine economic times,” says Acting Chairman of the Board of PJSC UMCC Oleksandr Hladushko.
As a reminder, based on the results of the year 2016, the company paid nearly UAH 700 million in tax payments to the budgets of different levels and was included in the Top 5 Largest State Dividends Payers in the country.
As a reminder, the company reported net income at UAH 643.7 mn, having completed the process of corporatization and transformed from a unitary enterprise into a public joint stock company. This, as Hladushko believes, should make the analysis of the operations of UMCC easier for the potential investors.
 
 
Top 10 Largest Most Profitable State-owned Enterprises of Ukraine in 2016
 
1    NJSC Naftogas Ukrainy                                                         UAH 22.532 bn

2    SE Yangel Pivdenne Design Bureau                                      UAH 4.299 bn

3    SE Seaport Administration of Ukraine                                    UAH 3.854 bn

4   SE NEC UkrEnergo                                                                  UAH 3.012 bn

5   PJSC UkrHydroEnergo                                                           UAH 2.213 bn

6   SE Boryspil International Airport                                             UAH 1.386 bn

7     PJSC TurboAtom                                                                  UAH 1.065 bn

8     SE UkrKhimTransAmmiak                                                     UAH 650 mn

9      PJSC UMCC                                                                         UAH 644 mn

10    SE MTP Pivdenniy                                                               UAH 581 mn

 
Source: Ministry of Economic Development and Trade of Ukraine