Mukachevo-based Tochprilad significantly increases net profit in 2022

JSC Mukachevo Plant Tochprilad (Zakarpattia region), a major Ukrainian manufacturer of electronic components, in 2022, according to preliminary data, received a net profit of UAH 24.08 million, which is 8.2 times more than the same indicator for 2021.

According to the enterprise's information on the agenda of the general meeting of shareholders scheduled for April 28, based on the results of work in 2021-2022, retained earnings by the beginning of 2023 totaled UAH 176.33 million (UAH 152.25 million a year earlier).

The shareholders intend to use all profits for 2021 (UAH 2.94 million) and for 2022 to replenish working capital, not to pay dividends.

According to the publication, over the past year, the plant increased its current liabilities by 39.5% to UAH 97.48 million, and noncurrent – by 51.4% to UAH 4.88 million.

The value of the company's assets grew by 23.3%, to UAH 282.48 million, including the total accounts receivable decreased by 14%, to UAH 73.1 million, while cash and cash equivalents rose by 5.5 times, to UAH 69.58 million.

The meeting's agenda included, in particular, the issues of changing the main activity from "production of instruments and equipment for measurement, research, and navigation" to "production of electrical and electronic equipment for the automotive industry."

It is also planned to supplement the list of activities with the production of finished hardware products, locks, and door hinges, as well as the provision of real estate for rent. The shareholders also intend to re-elect the Supervisory Board for a three-year term.

According to the data of the National Securities and Stock Market Commission for the fourth quarter of 2022, almost 90% of the shares of JSC Mukachevo Plant Tochprilad belong to Moroudon Investments Limited, registered in Cyprus, and Irina Zodiatu and Gavriella Lazaridu are listed as the ultimate beneficiaries in the public register.

Mukachevo Tochprilad specializes in the production of cable modules, loudspeakers for the automotive industry, and transformers for telephone charging stations, cooperating with a number of foreign companies on the basis of contracts for the processing of tolling raw materials.

Among the main consumers of products were Siemens, Nokia, Philips Motorola, Volkswagen, and General Motors.