Kremenchuk Wheel Increases Revenues 32% yoy in 2007

At their AGM on Friday, shareholders in Kremenchuk Wheel (KKOL: N/R) approved the company’s 2007 financial results: sales grew 32% yoy to USD 92.2 mln, net income increased 9% yoy to USD 5.0 mln (margin of 5.4%), and EBITDA rose 26% yoy to USD 13.6 mln (margin of 15%). CEO Alexander Korshunov announced the company’s financial targets for 2008: sales of USD 96.2 mln (+4% yoy) and net income of USD 5.4 mln (+9% yoy). Shareholders approved a 40% dividend payout of USD 2.0 mln (DPS of USD 0.23, yield of 3.2%).