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Chelyabinsk Forge-and-Press Plant Q4 profit falls YOY

Chelyabinsk Forge-and-Press Plant PJSC said its normalized net income for the fourth quarter came to 37.7 million rubles, a decline of 50.3% from 76.0 million rubles in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 2.7% from 5.7% in the year-earlier period.

Total revenue climbed 6.0% year over year to 1.40 billion rubles from 1.32 billion rubles, and total operating expenses climbed 55.7% year over year to 1.01 billion rubles from 649.5 million rubles.

Reported net income fell 58.6% on an annual basis to 46.5 million rubles, or 77.53 rubles per share, from 112.5 million rubles.

For the year, the company's normalized net income totaled 107.0 million rubles, an increase from 105.0 million rubles in the prior year.

Full-year total revenue rose on an annual basis to 4.87 billion rubles from 4.80 billion rubles, and total operating expenses came to 4.38 billion rubles, compared with 4.34 billion rubles in the year-earlier period.

The company said reported net income declined 10.7% year over year to 126.5 million rubles, or 210.69 rubles per share, in the full year, from 141.7 million rubles.

As of March 28, US$1 was equivalent to 68.39 Russian rubles.