HOW “Daugavpils “Locomotive repair facilities” had a turnover of 44 million euros in 2021, of which 41.4 million euros represented the company’s core business (repair services, sale of materials and spare parts, rental services), shows “Lursoft“Customer portfolio data.
The content will continue after the announcement
Advertising
Compared to the previous year, last year the company’s turnover decreased by 5.85%. “In the year under review, the utilization of the company’s production capacity improved, the company optimized its costs, which allowed it to significantly improve its financial results and close the year with a profit of 3, 03 million euros after taxes “, reads the report on the management of JSC” Daugavpils locomotive repair plant “.
Information “Lursoft” reveals that in 2021 this joint-stock company was the employer of 123 employees.
The management report presented states that in 2021 the company’s activities were affected by the Covid-19 pandemic. As a result, it was partially impossible to fulfill its contractual obligations (due to restrictions on cross-border movement), delays in raw materials and supply chains followed, and a rapid increase in the prices of energy resources and materials ensued. .
The management report presented indicates that the company’s operations have been significantly affected this year Russian invasion of Ukraineimposed trade sanctions and restrictions, followed by an energy crisis.
The war initiated by Russia has severely affected one of the company’s largest cooperative customers – the Ukrainian metallurgical company AS “Metinvest”. The company’s receivables and investments in unfinished projects for this customer at the end of 2021 amounted to 4.2 million. EUR.
The company further said that due to sanctions and the political situation, it cannot continue to provide services to most Russian state-owned companies and its private customers, as well as the availability and logistics of materials and spare parts are have been hampered, as well as their prices have risen significantly.
In the first half of 2022, JSC “Daugavpils locomotive repair plant” exceeded the turnover of the corresponding period of 2021. According to preliminary estimates, it will end this year without losses.
AS “Daugavpils Locomotive Repair Plant” is the real beneficiary Oleg Osinovskis.
