Artemsil receives UAH 10M in net profit in Q1 2021

Artemsil receives UAH 10M in net profit in Q1 2021

Ukraine's state-owned salt-producing enterprise Artemsil received UAH 10 million in net profit in January-March 2021, which is five times higher than in the same period last year, Ukrinform reports with reference to the company’s press service.

The net income of Artemsil for the first quarter of 2021 amounted to UAH 437.5 million, which is almost 1.5 times more than in the same period last year. The net financial result amounted to UAH 10.1 million, which is UAH 8 million more than in the first quarter of 2020.

In 2021, the company is planning to increase investments in the renewal and modernization of production, up to UAH 250 million. One of the main directions will be the replacement of obsolete packaging equipment and the release of an updated range of packaged salt products.

State-owned enterprise Artemsil is the largest company for the extraction and sale of table salt in Central and Eastern Europe. Established in 1881, the company is located in the city of Soledar, Donetsk region.

In 2020, Artemsil produced 1.18 million tonnes of salt. The company shipped its products to 15 countries in 2020.

In January-March 2021, Artemsil produced 503.3 thousand tonnes of salt, which is 2.5 times higher compared to the same period last year.


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