Serov Ferroalloy Plant

Performance indicators

2023: Decrease in revenue by 23.5% to 25.67 billion rubles

The revenue of the Serov Ferroalloy Plant (NWF) for 2023 decreased by 23.5% and amounted to 25.67 billion rubles against 33.58 billion rubles in 2022. The net profit of the enterprise, which is part of the Chelyabinsk Electrometallurgical Plant (CHEMK) group, during this time decreased by 6.7 times - from 3.79 billion to 566.4 million rubles. This is stated in the financial statements (RAS), disclosed in early April 2024.

According to Interfax, citing materials from the Serov Ferroalloy Plant, the company's revenue in 2023 decreased partly due to falling product prices. For the same reason, the profitability of sales dropped sharply - to 3.97% from 37.9% in 2022.

Unsplash

It also follows from the NWF report that in 2023 the cost of sales of the plant practically remained at the level of the previous year - 23.45 billion rubles against 23.41 billion rubles, respectively. Gross profit decreased by 4.6 times (to 2.22 billion rubles), profit from sales - by 9.4 times (to 979.2 million rubles), profit before tax - by 6.6 times (to 831.2 million rubles).

By the end of 2023, the plant's accounts payable reached 1.49 billion rubles, which is more than a year earlier (2.63 billion rubles). The company's accounts receivable also increased - from 944.04 million rubles to 1.34 billion rubles.

In 2023, the NWF produced 203,487 tons of ferroalloys, which is 8.8% less than a year ago, with a production plan of 224,806 tons. More than half (51.7%) of the products manufactured in 2023 were sold to the market, 48.3% of the products were exported. Investments in the construction and purchase of equipment in 2023 reached 1.08 billion rubles, which is 2.8 times more than in the previous year.

By the end of 2023, the Serov Ferroalloy Plant unites four separate divisions: the Marsyat Mine Administration (Sverdlovsk Region), the Saranovskaya Mine "Rudnaya" (Perm Territory), the Mining and Mining Administration (Yamalo-Nenets Autonomous Okrug) and a representative office in Yekaterinburg. Profit^[1]

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