JSC Elvorti (formerly Chervona Zirka, Kropyvnytsky), a major Ukrainian manufacturer of sowing and tillage equipment, according to preliminary data, in 2022 posted a loss of UAH 47.27 million, while in 2021 its net profit was UAH 30.29 million
According to information on the agenda of a general meeting of shareholders of the company scheduled for April 26, its retained earnings by the beginning of 2023 amounted to UAH 612.15 million (UAH 659.4 million a year earlier).
The shareholders plan to cover the loss received in 2022 at the expense of retained earnings of previous years.
According to the company, in 2022 it reduced current liabilities by 11.3%, to UAH 232 million, long-term liabilities amounted to UAH 5.75 million (down 15.2%).
Elvorti's total accounts receivable amounted to UAH 111.16 million (down 39.4%), while assets in general decreased by 7% compared to a year earlier — to UAH 1.018 billion.
The equity capital of the joint-stock company by the beginning of this year was UAH 780.22 million, including charter capital — UAH 9.5 million.
JSC Elvorti, which is part of Elvorti Group owned by businessman Pavlo Shtutman, specializes in the production of sowing and tillage equipment, including seeders for sowing grain crops, cultivators for continuous and inter-row tillage, disc harrows for resource-saving tillage.
According to the National Securities and Stock Market Commission, for the fourth quarter of 2022, Elvorti Group owned 84.6792% of the charter capital of JSC Elvorti, another 10% belonged to Partner Fund investment fund.
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