On November 12, 2020, People's Deputy of Ukraine Bogdan Torokhtii published false information on regarding JSC “Turboatom” on his Facebook page.
The press centre of “Turboatom” notes that the post on the page of Mr. Torokhtii is based solely on unsubstantiated statements that are not confirmed by facts and causes damage to the image and undermines the business reputation of the enterprise.
We inform the public that at the end of 2019, “Turboatom” received a net profit in the amount of 314 065 thous. UAH, for 9 months of 2020 – 207 483 thous. UAH.
Deposit agreements, which were concluded with JSC “Megabank” in 2008, 2014, 2016 and 2017, are pledged under the guarantee of the execution of contracts with PJSC “Ukrhydroenergo”. The company is not entitled to use these funds until the full fulfillment of the contractual conditions. Under these contracts, “Turboatom” is carrying out the reconstruction of hydro turbines at Kaniv HPP, Kremenchug HPP, Kyiv PSPP, Seredniodniprovska HPP and Dnipro-2 HPP. The total value of the contracts is 5,634 billion UAH. Today “Turboatom” continues to manufacture equipment for these stations.
As of September 30, 2020, accounts payable to suppliers amount to 410 million UAH. At the same time, accounts receivable amount to 2,9 billion UAH.
Not receiving funds from customers (accounts receivable), the company is forced to apply to banking institutions to obtain loans. The purpose of attracting credit funds is to pay wages, purchase materials, payment for utility services and taxes when shipping products.
During the period of receiving credit funds, from December 2019 to September 2020 inclusive, “Turboatom” received interest from the deposit in the amount of 48 893,60 thous. UAH, for the use of credit funds, the enterprise paid the entire accrued amount – 26 505,50 thous. UAH.
Thus, the amount of income from funds placed on deposit accounts significantly exceeds the cost of using credit funds.
Now “Turboatom” is preparing a claim for protection of business reputation and refutation of disseminated inaccurate information.
Please note that the company provides reports of financial and economic activities to all state regulatory authorities. Also JSC “Turboatom” annually undergoes an international audit of financial statements.