UNIAN
According to preliminary data, the losses (negative financial result before taxes) of the Ukrainian steel industry in January-March increased by 65.3%, or by UAH 8.3 billion as compared to the same period last year, and totaled UAH 21 billion, according to the report of the association of metallurgical enterprises Metallurgprom.
"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.