Kyivtsement ends 2004 with loss

Kyivtsement ends 2004 with loss
Published: 06 June 2005

The Ukrainian Kyivtsement company ended the year 2004 with a loss of UAH 5.67 million. According to the statement, Kyivtsement’s net revenues fell by UAH 7.12 million or 158.5 per cent to UAH 4.492 million in 2004, compared with 2003.   The company ended 2003 with a loss of UAH 2.619 million.  

As Ukrainian News earlier reported, Kyivtsement suspended production of cement in late September 2003, when its leadership decided that it would start packing and shipping cement produced at the Pivdentsement and Volyntsement companies.   According to data from the Agency for Development of the Stock Market’s Infrastructure, Dyckerhoff Zement International (Germany) owned 76 per cent of the shares in Kyivtsement as of 2004.   Dyckerhoff Zement International also reportedly owns 90 per cent of the shares in Pivdentsement and 45 per cent in Volyntsement.