VESCO revenue was UAH 4.3 bn as compared to UAH 2.7 bn in 2016. Last year, VESCO companies transferred UAH 410.7 m of taxes to the budgets of all levels, which exceeds the similar index in 2016 by 18%.
In 2017, ceramic tile manufacturers in Spain ans Italy remained the major VESCO clay consumers, that ensured 28% and 21% of total sales, respectively. In general, as of the end of the last year, approximately 91% of products were sold on the export markets in 27 countries of the world.
The Spanish market was the key driver of increase in VESCO indices. Last year, the amount of ceramic tile production in Spain reached the pre-crisis level of 2008.
“Situation on the main clay markets is improving. In particular, the Spanish market shows positive dynamics, which results in the demand for additional amounts of raw material. To ensure stable clay supply, new excavation was launched rapidly”, explains Eugeny Tsymarman, CEO of VESCO. “Along with the favorable weather conditions, this enabled completion of 2017 with high level of sales. Plans for 2018 are also ambitious. It can be seen, that the situation is stable: agreements with the key clients are extended, preliminary amounts of supply are confirmed. It is planned to achieve the high indices of the last year in 12 months.”
In 2017, VESCO social investments in the region of presence increased by 72% y/y up to UAH 2.4 m. Priority areas of corporate responsibility were following: social infrastructure, sports, education, medical services, support to socially unprotected group of the Ukrainian population.
VESCO is one of the major white soft clay producers in the world. It includes Vesco, Druzhkovskoe Rudoupravlenie, Ogneupornerud enterprises. Product portfolio of the clay producing business includes over 60 grades of clay. Producers of ceramic tile and ceramic granite are the main consumers.
UMG Investments is an investment company focused on business development in the commodities and manufacturing sectors. It was founded in 2006 by SCM Group. The company’s portfolio includes three main business areas: Mining, Recycling and Trading. The total value of UMG’s portfolio of companies is estimated at $400 million.