Open Joint Stock Company "United Aircraft Corporation" (JSC "UAC"), the managing company of enterprises KLA issued annual financial statements for 2012 in accordance with the Russian Accounting Standards (RAS).
Proceeds of the Criminal Code JSC "UAC" in 2012 amounted to 12.0 billion rubles. compared to 2.0 billion rubles. in 2011. The growth in revenue is explained by direct delivery by the management company of four aircraft for the Office of the President of the Russian Federation in the past year. The share of this item in 2012 accounted for over 70% of revenue. A further amount of revenue for the direct supply from the face UAC will increase following the expansion in the supply of aircraft in the execution generated consolidated public order on the domestic AT. Proceeds from the performance of R &D in the development of promising products and projects in accordance with the federal program HAT increased more than 1.5 times.
Despite the significant increase in the scale of business, the company managed to keep the growth rate at the level of administrative costs below inflation. The increase in revenues and the costs have enabled the Corporation to significantly reduce the accumulated losses and almost reach the return on current activities.
Net debt of JSC "UAC" in 2012 remained at the 2011 level. Value of the net assets of JSC "UAC" in 2012 increased by 8.5% compared with 2011.
Commenting on the financial results of the year, the Vice-President of JSC "UAC" in Economics and Finance Vladimir Chirikov, said: "Our main priority — is to increase the efficiency of the KLA and its subsidiaries. The main factors of the implementation of this priority, we are considering further growth in the supply of aircraft, primarily in civil and transport sectors, as well as reduced prices of component parts and reducing their costs. "
The consolidated financial statements of the Group for the KLA in 2012, prepared in accordance with International Financial Reporting Standards (IFRS), which will be published before the end of April 2013. Consolidated revenues of the Corporation for the year 2012 by the International Accounting Standards (IAS) is projected at 180 billion rubles., Indicating that the positive dynamics of the Group's results.
In order to increase openness and transparency to the investment community KLA since 2013 will regularly publish an interim half-year consolidated financial statements under IFRS. Consolidated IFRS financial statements for the 6 months of 2013 Corporation plans to release in August 2013.
Annual financial statements of JSC "UAC" for 2012 by RAS is available on the official website of the Corporation in the section "Investor Relations / Reports / Financial accounting standards" and is available here