IGM-Trade - Macedonian giant and driver of the economy

Although in the last 20 years the trend has been to boost the Macedonian economy by bringing foreign companies that invest in our country, we must not overlook the fact that we can also boast that we have such a "giant" that invests in European countries.

Kavadarci's "IGM Trade" is a Macedonian company with a world reputation, which brings 95% of its production to the European and CEFTA markets and significantly contributes to increasing exports in our country and helps our economy to infuse money from other foreign countries.

From humble beginnings to a strong regional and global position

The company "IGM-Trade" was founded back in 1991, and thanks to rapid development and growth, today it is one of the largest producers of pipes and hollow, hollow steel profiles in Europe.

It was initially founded as a company for trading in ferrous metallurgy products, and soon after opening, the first line for cutting steel plates was installed.

In 1997, it began activities to create a production hall, where it would begin producing the products for which it is recognized today.

In addition to investments in the primary factory in Kavadarci, in 2015 the company invested in expanding production outside Macedonia, and purchased the former ALPOS steel pipe and profile factory, located in Šentjur, Slovenia.

With this, the company paved the way for easier access to products on European markets and for increased production.

Today, combined, 200,000 tons of steel are processed annually in the production facilities of IGM Trade.

How did IGM-Trade rank on the 200 LARGEST AND SUCCESSFUL rankings in 2023?

IGM Trade has been part of the 200 LARGEST AND SUCCESSFUL family since 2003, when the company had around 70 employees .

The annual income that year was in the amount of 845,413,139 denars, and the amount of profit was 117,135,004 denars.

If you look closely at the chart published on club200 , you can see that the rate of revenue growth has been gradually increasing since 2015, and the company recorded its highest revenue and largest profit growth in 2021.

In 2023, it can be noted that the company has increased the number of employees (480) almost sevenfold in a period of 20 years , and the amount of total revenues for this year amounted to 9,565,452,851 denars , while the amount of profit before tax is 990,053,276 denars .

Although at first glance the difference is obvious, it must be noted that this was one of the worse years for "IGM-Trade".

Namely, the company, compared to the previous year, 2022, recorded a decrease in total revenues of 2.10 % , and a decrease in profit before tax of 50.77 % .

In terms of the ranking of the largest companies , in 2023 the company jumped 3 places up (according to revenue) and came in 20th position, while in the ranking of the most successful (according to profit before tax), "IGM-Trade" fell by 10 positions and came in 12th place compared to the previous year.

But that does not mean that the company is operating at a loss; on the contrary, "IGM-Trade" continues to be one of the most profitable Macedonian companies, contributing to the development of the overall Macedonian economy.

"IGM - Trade" remains one of the largest exporters in North Macedonia

Those of us who are in the family of the LARGEST and MOST SUCCESSFUL and in general, those who have at least a basic knowledge of economics, know that there are very rare examples where profits can only go up, compared year after year.

This applies even more to companies dealing with industry and industrial production, where a huge number of factors can affect the final results.

Therefore, despite everything , this Kavadarci company remains a true example of how, with the right idea, vision, desire and perseverance, a local Macedonian company can turn into a global player.

According to data from the Customs Administration of Macedonia , "IGM-Trade" is one of the largest investors in the country, with capital investments in 2023 in the amount of 15 million euros, while the value of exports achieved by the company is estimated at 120 million euros.

The existence and survival of "IGM-Trade" has a key contribution to the development of the Tikvešija and Kavadarci regions, as well as to the overall Macedonian economy, where industry plays a very important role.