JSC “Zaporizhstal” published financial statements prepared in accordance with IFRS for 2014, as well as main aspects of work.
Information about financial statements for 2014 prepared in accordance with IFRS (International Financial Reporting Standards) and the legislation of Ukraine, as well as the current “Regulations on Information Disclosure Issuers of Securities “approved by the decision of the NSSMC from December 3, 2013 № 2826. Financial statements audited by the company “KPMG”, the Works received clearly positive audit opinion. The financial statements fairly represent financial results and financial standing of the enterprise by the balance sheet date, in all fundamental aspects.
Financial highlights:
| (million UAH) | 2014 | 2013 |
| Revenues from production sales | 22 110,5 | 13 579,2 |
| Gross profit/ loss | 5 837,9 | 1 294,2 |
| Net profit-loss | 1 120,6 | 8,2 |
| Total assets | 22 755,6 | 14 405,6 |
| Сapital investment development | 1 669,0 | 595,7 |
“The financial results in a heavy industry have inertia. Balance of the work in 2014 indicates that, despite the economic instability in the country, the Works was able to keep and increased key performance indicators in comparison with 2013. A fall in prices on the world markets as well as the political and economic situation in Ukraine had a negative impact on the financial indicators of “Zaporizhstal» in the second half of the year. Unfortunately, the situation continues to worsen, adversely affecting the profitability of the Works”, said the CEO of the «Zaporizhstal» Steel Works, Rostislav Shurma.
It is a reminder that from January to December 2014 on the “Zaporizhstal” Steel Works was the growth of all production figures: iron – by 9.1%, steel – by 3.8%, rolled products – by 5% in comparison with the same period in 2013.
This announcement does not contain sufficient information in order to be considered a full financial report.
You can find the financial report by following the link: