25 Sep 2017 16:50

Chelyabinsk Zinc could boost revenue 19.5% in 2017

CHELYABINSK. Sept 25 (Interfax) - Chelyabinsk Zinc Plant , part of the UMMC group, plans to boost sales revenue 19.5% this year.

The company told Interfax that it was targeting sales of 28 billion rubles for the year.

Sales revenue to Russian Accounting Standards (RAS) rose 19.7% to 23.424 billion rubles on 2016. Net profit grew 1.7-fold to 3.965 billion rubles.

CEO Pavel Izbrekht told Interfax the company planned to improve financial results this year. "As for 2017, I think we'll close it no worse [than 2016] or perhaps even better, unless there are cardinal changes on the macroeconomic front. The economic situation there is, including zinc prices, enables the company to generate as much profit as we need to invest in all our projects," he said.

Neither CZP nor Izbrekht gave a net profit forecast for 2017.

Izbrekht also said CZP planned to invest 1.2 billion rubles in modernization this year, 480 million rubles of it in environmental projects, compared with respectively 850 million rubles and 780 million rubles in 2016. It plans to invest 1 billion rubles in modernization in 2018.

CZP says in an environmental plan of action, seen by Interfax, that it aims in 2022 to commission local purification units for industrial effluent at a cost of 1 billion rubles, of which 3 million rubles in 2017. Construction of these units, which will reduce effluent discharge into the River Miass by 500 cubic meters per day, began in 2015.