In the first half of 2022, Metalferos made a profit of 8.5 million lei, which is 6.3 times less than in the same period in 2021 (53.92 million).
Andrei Ivancov, acting director of the company, told journalists who visited the enterprise that the decline in profits was due to a number of objective factors. In particular, he stressed that the Moldavian Metallurgical Plant in Ribnita, where the largest volumes of scrap metal go, did not work for 2 months out of 6, the ports in the region were overcrowded due to the war in Ukraine, prices on the stock exchange fell for various reasons. Andrei Ivancov also believes that the metals market in Moldova is not functioning well. “Market liberalization [since 2019] has not led to fair competition. We work white, while other competitors do not. The plant in Ribnita dictates the market, offering other players better prices. There will be chaos in the metal market until the state of the Republic of Moldova is the leader in this market,” Andrei Ivancov believes. According to the general director of the Public Property Agency Eugen Cozonac, the government recently approved a bill aimed at bringing order to this strategic area for the country. “We are in a market where the rules are not respected, this is the monopoly of the Ribnita plant and the privileged atmosphere of this plant for certain participants on the right bank. We would like it to be a market where everyone plays by the same rules, and to ensure the security of the state,” stressed Eugen Cozonac. In his opinion, a viable solution would be the introduction of a fiscal monopoly if the draft law approved by the government is passed by parliament and if the commission to be created and which will also include representatives of the Competition Council considers that this monopoly is necessary,” said the director general of the Agency public property. As InfoMarket agency previously reported, Metalferos' net profit in 2021 amounted to 29.75 million lei, an increase of 2.2 times compared to 2020. The company's sales revenue in 2021 amounted to 1 billion 743.2 million lei, an increase of 41% compared to 2020. Metalferos is engaged in the procurement, processing and supply of ferrous and non-ferrous metals. Its authorized capital is 3.59 million lei. The company is owned by the state, which manages a 78.28% stake in Metalferos through the Public Property Agency. // 14.07.2022 — InfoMarket
