Net profit of Ukraine`s military company Ukroboronprom grows by 31.2% in 2016

Ukraine`s state-run Ukroboronprom Concern, which incorporates major enterprises of the country`s military and industrial complex, posted UAH 28.3 billion, or US$1.06 billion, in net profit in 2016, which was 31.2% up from 2015, according to the company`s financial report.

Ukroboronprom`s earnings before interest, taxes, depreciation, and amortization, or EBITDA, over the period under review stood at UAH 3.7 billion, or $138 million, the report said.

The company`s profitability in 2016 grew by 5.4% from 2015, while its capital investment fell by 15%, to UAH 683.7 million, or $25.5 million.

The financial result from Ukroboronprom`s business operations was estimated at UAH 2.344 billion, or $87.4 million, in 2016, the report said.

The state-owned concern paid UAH 4.6 billion, or $171.6 million, in taxes in 2016.

Memo. Ukraine`s state-run Ukroboronprom Concern was established in 2010 to ensure the effective operation and management of state-run economic entities involved in the development, manufacture, sale, repair, modernization and disposal of weapons, military and special equipment, and ammunition. The companies also participate in military and technical cooperation. The concern comprises over a hundred enterprises of Ukraine`s military industrial complex.

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