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Oleg Gladkovsky's Bogdan Motors declares UAH 3.4 billion in losses for 2020

Ukraine

In December 2020, the Economic Court of the Dnipropetrovsk region filed a bankruptcy case for JSC AK Bogdan Motors.

Oleg Gladkovsky's Bogdan Motors declares UAH 3.4 billion in losses for 2020

Bogdan Motors Automobile Company JSC, which unites the production assets of Bogdan Corporation, in 2020, according to preliminary data, received UAH 3.38 billion in losses, while in 2019 the company's net profit was UAH 609.22 million .

According to the agenda of the general meeting of shareholders of the company on April 27, published in the information disclosure system of the National Commission for Securities and Stock Market (NSCSSM), the uncovered loss of Bogdan Motors by the beginning of this year amounted to UAH 9.192 billion compared to UAH 5.809 billion a year earlier .

As reported, in 2019, JSC "Bogdan Motors" increased its net profit by 10.6 times by 2018.

According to the publication, the current liabilities of the auto company over the past year increased by 47% - to 9.182 billion hryvnia, long-term, as in the previous year, are not indicated.

Bogdan Motors' total accounts receivable more than halved over the year - to UAH 167.74 million, assets as a whole decreased by 29% - to UAH 1.087 billion.

Equity capital of JSC Bogdan Motors by January 1, 2021 amounted to minus UAH 8.195 billion, authorized capital - UAH 1.101 billion.

Bogdan Motors Automobile Company JSC unites a bus and trolleybus plant in Lutsk and a passenger car plant in Cherkassy.

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