Ukraine's manufacturer Dniprovagonmash plans to export up to 100 railcars to Europe monthly
MOSCOW. May 31 (Interfax) - Dniprovagonmash (DVM), Ukraine's leading railcar manufacturer, plans to export up to 100 railcars to European countries a month, businessman Sergei Tigipko said.
"We manufacture 80 railcars a month for the domestic market these days, but we've also started making them for exports [...] The European market is 8,000-9,000 railcars a year, and we've set ourselves the goal of selling 100 railcars a month there. In terms of money, one railcar averages 100,000 euros," Ukrainian media quoted Tigipko as saying at a forum held under Forbes Ukraine's aegis.
The Austrian steelmaker Voestalpine supplies DVM with lighter and more durable metal for building railcars, which provides it with a competitive edge on the European market, he said.
TAS Dniprovagonmash invests in upgrading its manufacturing assets, such as metal processing, welding, and painting, as well as personnel training.
As reported, TAS Dniprovagonmash in early 2023 became a strategic investor in the railcar manufacturer TransAnt GmbH comprising Austria's voestalpine and OBB Rail Cargo with a 40% stake. It became a majority shareholder in TransAnt by increasing its stake to 61% in spring 2024.
In October 2023, TAS Dniprovagonmash delivered a first shipment of MultiBOX light modular freight cars to be used on EU railways under an innovation project with the Austrian partners. The group entered the EU market with a full range of freight flatcars by the end of 2023.
TAS Dniprovagonmash's report for 2023 shows that the group plans to invest UAH 100.2 million in developing its European business, including equipment procurement, in 2024.
The company manufactured 378 freight railcars in 2023, including for the EU's market, which is 34.8% fewer than it did in 2022, and its sales dropped last year by 40.6% to 370 items.
DVM's net revenue from selling railcars and other products declined by 2.8% to UAH 1.077 billion, and net profit grew slightly to UAH 49.2 million.
Tigipko founded TAS Dniprovagonmash in 1998. His business interests embrace the financing (banking and insurance) and pharmaceutical sectors, as well as industry, real estate, and venture projects.