Dongirmash 2007 sales up 34.4% yoy, EBITDA falls
25 June 2008
At their AGM yesterday, Dongirmash (DGRM: N/R) shareholders reported official 2007 financial results: sales of USD 46.8 mln (+34.4% yoy), EBITDA of negative USD 4.2 mln (vs. negative 0.5 mln in 2006), net losses of USD 7.2 mln (vs. a loss of 3.5 mln in 2006). Shareholders voted not to pay dividends. According to Dongirmash CEO Viktor Kravchuk, the company’s losses in 2007 were driven by not full loading of its capacities (utilized ~50-60% in 2007) and growth in prices for raw materials.
