March 6 (SeeNews) - North Macedonia's steel mill Makstil [MSE:STIL] said that its net profit went down 67% year-on-year to 355.6 million denars ($6.3 million/5.8 million euro) in 2023.
The company's operating revenues decreased 25% on the year to 8.4 billion denars in 2023, Makstil said in an annual financial statement last week.
Domestic sales declined 18% year-on-year to 867.1 million denars in 2023, whereas sales from abroad fell 26% to 7.4 billion denars.
Operating expenses dropped by an annual 23% to nearly 8 billion denars in 2023.
Makstil produces hot rolled heavy plates. Its main shareholder is Liechtenstein-based Duferco Group, which operates in steel production and distribution, energy trading, shipping and logistics, and engineering.
Makstil's shares traded at an average price of 133 denars on Tuesday on the Macedonian Stock Exchange (MSE), according to the most recent bourse data available.
(1 euro = 61.65 denars)