JSC Bogdan Motors automobile company, combining the production assets of Bogdan Corporation, in January-March received a net loss of UAH 610.3 million, while in the first quarter of 2019 its net profit was UAH 161.61 million.
According to the interim report of the company, its net income for this period decreased by 39%, to UAH 13 million.
The company received almost UAH 13 million of gross profit (against UAH 21.2 million a year earlier), and the loss from operating activities exceeded UAH 598 million against a profit of UAH 174.24 million for January-March 2019.
As of April 1, the company’s liabilities exceeded UAH 6 billion, in particular a short-term bank loan of UAH 4.5 billion.
Bogdan Motors combines the production assets of one of the leading Ukrainian automakers, Bogdan Corporation (a bus and trolleybus plant in Lutsk and a car factory in Cherkasy).
The company, according to preliminary data, in 2019 posted a net profit of UAH 273 million, up 10.6-fold YoY, and sales revenue almost doubled to UAH 1.255 billion. (Open4Business/Business World Magazine)