March 15 (SeeNews) - North Macedonia's steel mill Makstil [MSE:STIL] said that its net profit rose 27% year-on-year to 1.1 billion denars ($19.1 million/18 million euro) in 2022.
The company's operating revenues went up 57% on the year to 11.2 billion denars in 2022, predominantly backed by export sales which rose 57% to 11.1 billion denars, Makstil said in an annual financial statement earlier this month.
Domestic sales increased 25% year-on-year to 1.1 billion denars in 2022, whereas sales from abroad grew 61% to 10 billion denars.
Operating expenses rose by an annual 55% to 10.4 billion denars in 2022.
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 last traded on March 13 on the Macedonian Stock Exchange (MSE), at an average price of 140 denars, according to the most recent bourse data available.
(1 euro = 61.18 denars)