Bashkir Soda Company BSK

Performance indicators

2023: Profit growth 1.6 times to 10.55 billion rubles

The Bashkir Soda Company (BSK) in 2023 earned 58.29 billion rubles in revenue, which is 1.5% more than a year ago (57.41 billion rubles). The net profit of the largest producer of soda ash and baking soda in Russia during this time increased by 57.1% - from 6.72 billion to 10.55 billion rubles. Such data are contained in the reporting under RAS, which was published at the end of March 2024.

According to Interfax, citing BSK materials, in 2023 the company's gross profit reached 18.34 billion rubles, which is 21.3% more than a year earlier. Profit from sales increased by 22.4% (to 12.39 billion rubles), profit before tax - by 52.2% (to 12.95 billion rubles).

source = BSK

In 2023, BSK received 2.8 billion rubles of income from participation in other organizations (against 2.5 billion rubles in 2022), as well as 1.867 billion rubles of income from investments (923.1 million rubles in 2022). Other expenses decreased by 30.1%, including for charity, to 2.859 billion rubles.

As of the end of 2023, BSK's accounts payable amounted to almost 2.4 billion rubles against 2.65 billion rubles a year earlier. Accounts receivable decreased from $6.08 billion to $4.6 billion.

It is also reported that the assets of one of the leaders in the country for the production of PVC, caustic soda and hydrochloric acid in 2023 amounted to 64.98 billion rubles, compared with 56.62 billion rubles in 2022. The non-current assets of the Bashkir Soda Company in 2023 amounted to 48.68 billion rubles. Current assets increased by 34.36% to 16.3 billion rubles. Capital and reserves increased by 25.12% to 36.24 billion rubles. Operating cash flow of BSK in 2023 turned out to be equal to 7.5 billion rubles, the balance of cash flows from financial operations - minus 3.29 billion rubles.^[1]

History

2020

Court returns company shares to state

The Arbitration Court of Bashkiria canceled the privatization of shares of the Bashkir Soda Company (BSK) in favor of Bashkhim. They will be credited to the account of the Federal Property Management Agency.

On August 28, on behalf of the president, she challenged the legality of the transaction, as a result of which the state lost control over the BSK.

Bashkhim is controlled by businessman Dmitry Pyatkin and former first vice-governor of the Nenets Autonomous Okrug Sergei Chernikov.

Russian President Putin commented on the conflict over the Bashkir Soda Company

In August 2020, Russian President Putin commented on the conflict over the Bashkir Soda Company:

"I ask the Government of the Russian Federation together with the leadership of the Republic of Bashkortostan to understand the situation in detail";

"The money earned by the company is practically not invested in development, they do not remain in the region. With a total revenue of 45 billion rubles , only 2.5 billion rubles went to investment purposes. Where's the money? It is known where. Offshore ";

"I instruct the prosecutor's office to check the legality of the transaction, because of which state control over the assets of the Bashkir Soda Company was lost."

The president became interested in BSK after the structure of the company, with the permission of the authorities of Bashkiria, began preparations for the development of a limestone deposit on the ancient shikhan Kushtau. Local residents began to protest, clashes with guards and detentions began. The head of Bashkiria Radiy Khabirov came to the protesters, who promised to find a compromise.

2013: Bashkhim receives controlling stake in BSK

Bashkhim received a controlling stake in BSK (57.18%) in 2013, when Bashkir Soda and Caustic were merged into the holding. Before Soda joined Caustic, Bashkiria owned 61.65% of the authorized capital of Soda, Bashkhim - 34.82%.