The Kerch-based plant said the net deficit was UAH 79.32m ($6.91m), compared to a profit of UAH 5.58m in 2013.

Revenue dropped 12% to UAH 274.75m, year on year.

Assets totalled UAH 747.4m, with liabilities at UAH 421.864m.

Last year it bought some of the shipbuilding operations of Norway’s Bergen Group.