Mariupol Heavy Machinery: No Dividend Payout

At the Mariupol Heavy Machinery (MZVM: U/R) AGM yesterday, shareholders approved the company’s 2006 financial results: net income of USD 0.1 mln (down 96.3% yoy) and sales of USD 501.9 mln (+15% yoy). The company exported 76.5% of its sales last year. Shareholders voted not to pay dividends, and to reinvest revenues back into the company. Inna Perepelytsya: Mariupol Heavy Machinery’s 2006 financial results have been available since March so they come as no surprise. The company’s financial results are in line with our projections.