OREANDA-NEWS. On 02 March 2009 was announced, that Dneprovagonmash < DNVM UZ NR >, the big Ukrainian railcar manufacturer, increased net profit in 2008 by 62.1% to UAH 165.44mn, although it reduced the car production by 1.9% to 3,253 cars in 2008. This information was published in DNVM AGM announcement. The company produces more than 150 models of different types of freight cars.

This news is another example that the crisis affected Ukrainian railcar building industry less severely than other industries. At the beginning of the year Millennium Capital forecasted that the growth in railcar, energy and oil and gas machine building will be faster than in other industries. The 2008 results confirmed our prognosis. Although the volumes of sales growth, profitability, etc. are not significant in absolute numbers, they compare favorably with other industries.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.