Ukrainian cement producer, Ivano-Frankivskcement reported an increase in its net profit of up to UAH 821.6 million ($ 30.5 million), which is eight times more than net profit in 2018. According to the financial report, the net profit grew primarily due to an increase in sales and a doubling of undistributed profits in 2019, up to UAH 2.26 billion ($ 83.9 million).
In 2019, the company also managed to reduce the volume of long-term liabilities by 38 %, down to UAH 1 billion ($ 37.1 million), and cut short-term liabilities by 26 %, down to UAH 1.3 billion ($ 47.9 million).
Ivano-Frankivskcement produces over 300 types of various building materials products. The company is the only manufacturer of fiber-cement slates in Ukraine. In the fall of 2019, the company announced it is increasing its capacity utilization up to 90 %. The plant’s production capacity stands at 3.6 million tpa, about 30 % of the total installed capacity in Ukraine. In 2018, Ivano-Frankivskcement commissioned the third dry-process cement production line (1.5 million tpa).
