Net profit of JSC Volga dropped by 25.8% in 2023

The revenue of JSC Volga reduced by 1.8% YoY in 2023, down to 13.6 billion rubles. The company’s net profit dropped by 25.8% YoY over the reporting period, down to almost 1.84 billion rubles.

Interfax quotes the company’s financial reporting and informs that in 2023, the paper plant Volga’s revenue from exporting paper was 10.1 billion rubles (a 2.8% growth), while its domestic sales dropped by 18.8%, down to 2 billion rubles.

The plant’s long-term liabilities increased by more than 500 million rubles over the year, reaching 3.74 billion rubles; its short-term liabilities grew from 2.2 to 2.9 billion rubles. As of the beginning of 2024, the accounts receivable were 1.96 billion rubles – a 16.6% hike.