July 27, 2017 12:23 PM ET

Metals and Mining

Company Overview of Makstil A.D.

Company Overview

Makstil A.D. produces hot rolled heavy steel plates in the Balkan region. Makstil A.D. was formerly known as Mines and Iron & Steelworks Skopje and changed its name to Makstil A.D. in 1997. The company was founded in 1967 and is based in Skopje, Macedonia. Makstil A.D. operates as a subsidiary of Duferco S.A.

16 Makedonska brigada, 18

Skopje,  1000

Macedonia

Founded in 1967

Phone:

389 2 328 7023

Fax:

389 2 328 7076

Key Executives for Makstil A.D.

Makstil A.D. does not have any Key Executives recorded.

Makstil A.D. Key Developments

Makstil Reports Earnings and Production Results for the Year 2016

Makstil reported earnings and production results for the year 2016. For the year, the company reported net profit of MKD 1 million compared to four times higher than in 2015. Sale revenues were MKD 3.7 billion. The global steel market trends, the international political and economic situation, as well as the prolonged political crisis in Macedonia affected negatively its operations. Other factors which had an adverse impact on the company's performance during the past year were the ban for import of scrap, energy and transport prices, as well as the country's poor infrastructure. For the year, the company produced 239,084 tonnes thick sheet in 2016, which is 45% more than in 2015. Steel slabs production increased 39% during 2016 to 169,113.3 tonnes.

Makstil Reports Consolidated Earnings and Sales Results for the Nine Months Ended September 2016

Makstil reported consolidated earnings results for the nine months ended September 2016. Non-consolidated net profit decreased by 21% to MKD 1.5 million ($27,100/EUR 24,400) in the first nine months of the year. Operating revenues totalled MKD 2.68 billion, down 1%, compared to the like period of 2015. The bulk came from sales, which also decreased 1%, to MKD 2.67 billion. Domestic sales totalled MKD 1.52 billion. Operating costs exceeded revenues, reaching MKD 2.83 billion, up by 5%. Inventories of finished and unfinished goods at the end of the period rose to MKD 615.2 million versus MKD 438.8 million at the begining of the year. A year ago, the company ended the January-September period with inventories worth MKD 574.4 million. The company's operating profit was 50% lower, at MKD 29.8 million. Financial revenues rose 35% to MKD 30.1 million in the first nine months, whereas costs fell by 27% to MKD 57.7 million. The company's sales volume increased in the January-September period to 156,258.2 tonnes from 128,165.8 tonnes a year ago.

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