Akhmetov's Machine-Building Holding Increased its Revenues by 19% in 2016

Сorum Group, comprising machine-building assets of System Capital Management (SCM) Group, the holder of Rinat Akhmetov's assets, in 2016 increased its consolidated revenues by 18.9% as compared to 2015, i.e. up to UAH 2.06 billion.

This data was announced by the press service of Сorum Group, reported БизнесЦензор.
According to the announcement the EBITDA over the year reached the positive value, amounting to UAH 105.4 mln.
The price of the executed contracts amounted to UAH 2.445 billion, which is 32% more than in 2015.

On the other hand the company's loan portfolio was downsized almost twice, amounting to UAH 1.08 bln.
The company’s speakers point out that 2016 was generally difficult for the heavy machine-building sector.

"Nevertheless, the considerable backlog demand formed in 2014-2015, backed up with the  hike of prices for iron ore materials and coking coal in the second half of 2016, triggered slight recovery of the market in the fourth quarter of 2016", – emphasized the company's press-service.

The company further announced that "Corum Svet Shakhtyora" and "Corum Druzhkovsky Machine-Building Plant" set up manufacturing of the products earlier supplied by those plants, which had become uncontrollable in 2014 following seizure thereof. These are cutter loaders, sinking winders, main fans, transformer sub-stations, belt-type conveyors, sinking winches, stable-hole and hoisting equipment. Share of these products sales amounted to 15.9% of the total revenues in 2016.
Altogether, in 2016 the company's plant set up manufacturing of 23 thousand new parts (63 pieces per day).

Se also: Akhmetov's metallurgical complexes in Mariupol cut down output following the railway accident

According to the notice, the last year the domestic market's demand for the company's equipment (including the new equipment) increased by 29%. The export's share in the sales structure constituted 21%. In 2017 it is planned to increase it to 28%.

The services' share the last year made up 67%, its volume having increased by 18% as compared to 2015.
The press-services pointed out that since August 2014 Corum has not controlled Donetskgormash, Donetskyi Energozavod and Gorlovskyi Mashynobudivnyi Zavod, following seizure thereof by the combatants of DNR, which situation was reported in the official applications submitted to the competent governmental authorities.

In 2015 Сorum Group increased its consolidated revenues by 7% as compared to 2014, i.e. up to UAH 1.7 billion; … amounted to UAH minus 91 million, as compared to UAH minus 351 million.