An annual general meeting of shareholders was held at JSC “Turboatom” on April 17, 2019.
47 shareholders or their representatives registered to participate in them, representing 91.37% of the owners of the total number of voting shares. The state-owned stake, which is 75.22% of the authorized capital, was represented by the chief specialist of the Public Administration and State Corporate Laws Department of the State Property Fund of Ukraine (SPFU) Rita Grinenko.
Shareholders of “Turboatom” approved the Report of the Directorate on the results of the financial and economic activities of the enterprise for 2018. General indicators of the enterprise's financial and economic activities in 2018 were reported by the General Director of the enterprise, Viktor Subotin. He noted that the company works profitably, does not attract bank loans, has no wage arrears, transfer taxes and the like. In 2018, 75% of the profits were transferred to the payment of dividends, which amounted to 532,815 thousand UAH. “This is one of the highest rates among Ukrainian enterprises,” said Viktor Subotin. According to him, the average salary In 2018, increased over the year by 15% and amounted to more than 10 thousand UAH per month, while the production staff - more than 15 thousand UAH.
The General Director also said that in order to maintain its leading position in the global market for power engineering, “Turboatom” is conducting technical re-equipment of production capacities, introducing innovative technical processes. Over the last 12 years, the company has invested more than $ 70 million USD in technical re-equipment. In particular, in 2018 the cost of modernization amounted to almost 50 million UAH. More than 70 pieces of equipment were upgraded and repaired. Among the tasks performed, Viktor Subotin noted the modernization of the special welding unit “Portal No. 1” for welding rotors and shafts of steam and hydro turbines; repair and modernization of special NC machines for machining turbine blades (ГФ2253, ЛР-61, etc.). A heat-treatment furnace was also repaired in workshop No. 60 for heat treatment of large-sized metal structures; a passenger elevator was put into operation in the administrative building. “New technologies have been mastered in the mechanical, welding and metallurgical industries, among which should be noted the technology of casting hydraulic turbine blades for Dniper HPP-2 and Seredniodniprovska HPP,” the General Director said.
Shareholders decided to distribute the net profit received by the Company according to the results of financial and economic activities in 2018 as follows: 50% - to pay dividends to shareholders of the Company; 50% - on the implementation of the costs stipulated in the financial plan for 2019. At the end of the meeting, Viktor Subotin assured that “Turboatom” will continue its stable work on increasing production volumes, since there are all possibilities for this.