Ukrainian steelmakers incur losses of UAH 21 bln in a quarter

UNIAN

"The financial result from operating activities amounted to UAH 6.5 billion against (-) UAH 1.5 billion in Q1 2014, but due to losses from exchange rate differences (when revaluing foreign currency borrowings and interest on them) there was a negative financial result before tax," the statement of the association reads.

According to the association, the net income (revenues) from sales of steel products for the period increased by 21%, or by UAH 7.6 billion amounting to UAH 43.7 billion.

As UNIAN reported earlier, in 2014 the losses (negative financial result before tax) of Ukrainian metallurgical industry increased by 84.4%, or by UAH 10.3 billion compared with the previous year, and amounted to UAH 22.5 billion.