GSS report for 2012

Some (but almost everything!) Noticed in the media report only the amount of GSS debt of $ 2 billion, making up an unhealthy sensation of the alleged bankruptcy soon.

However, the proposed studythe report itself, there are a lot of interesting things.

From the annual report for 2012 GSS

Design

In 2012, construction work was carried out to complete the following tasks:
1) Development of design documentation for the life extension to 6000 flight 9000 flight hours.
2) Delivery, assembly, installation, carrying out acceptance tests in a simulator FFS DPAP JSC "Aeroflot — Russian Airlines";
3) Delivery, assembly, installation, carrying out acceptance tests FFS simulator training center SJI, city of Venice;
4) Design, manufacture, delivery, assembly and installation of the simulator for the Ulyanovsk VAUGA FFS;
5) The certificate of state registration of computer software for flight crew training, technical staff and cabin crew of Sukhoi Superjet 100;
6) Protection of conceptual design of the aircraft SSJ 100 NG;
7) The development, implemented and certified function onboard system aircraft maintenance RRJ-95;
8) Develop documentation for 7 additions to the Type Certificate IAC;
9) Development of the documentation for the validation of the type certificate to EASA.

Tests

In 2012, included the following benchmark tests:
1) Periodic static test units of PCM (LV, RV, inner and outer flap, aileron, 1st Section BT leaf NSP) in the Federal State Unitary Enterprise "TsAGI";
2) Periodic static test pins "weak link" between the secondary school and the wing box in RNETS "Aviatest LNC";
3) Approval frequency tests "ACS-CDS", airframe and landing gear of the type design RRJ-95B (ed. 95021);
4) Pre-frequency test loop "ACS-CDS" on the CAT IIIA;
5) Perform docked right SUNGLASSES aircraft RRJ-95LR to the airframe 95002 Federal State Unitary Enterprise "TsAGI";
6) Tests for durability and retained strength wall niches nose landing gear in the stand of "Cask number 1" in RNETS "Aviatest LNC";
7) Lifetime test of ten samples odnostringernyh detachable junction of the wing and center section in RNETS "Aviatest LNC";
8) Tests on the bearing capacity and the residual strength of the horizontal stabilizer on a secluded bench in the Federal State Unitary Enterprise "TsAGI";
9) Hours of operation for the certification life tests airframe 95006 Federal State Unitary Enterprise "SibNIA" laboratory operations totaled 24,000 (LP) 10) Operating hours at the certification test resource units of the wing at the booth S0114 in RNETS "Aviatest LNC" were: — Slat — min 40000 LP — Internal section flap — 45000 LP — outer section flap — 140000 LP — aileron — 48000 LP — air brake — 60000 LP
11) Certification life test three sets of pins "weak link" between the main landing gear and wing box in RNETS "Aviatest LNC" on the stand S4176C.

Production

In2012-m were produced 14 aircraft delivered 12 aircraft:

Serial number of aircraft Customer Note
95013-95018 "Aeroflot-Russian Airlines" Transferred to the customer
95019 OJSC "Airline" Yakutia " Delivered to the customer
95022 Sky Aviation Signed the act of Handover
95020 OJSC "Airline" Yakutia " Signed the act of Handover
95021 OJSC "Airline of Muscovy" Signed the act of Handover
95023 SJI / Interjet Signed the act of Handover
95024 SJI / Interjet Signed the act of Handover
95026 Lao Central Airlines Made. Closing detentions
95032 Senior Long Range Made. Closing detentions

To ensure the timing of delivery of aircraft, activities include:
— translation of more than 65% of the production staff on the effective motivation system;
— the creation of a separate structural unit in the city of Ulyanovsk;
— expansion of industrial areas Knafo CJSC "Sukhoi Civil Aircraft" by the leasing of additional housing;
— a set of production workers in the amount of 100.
The number of production workers at the end of 2012 was 406 people.
Under the Treaty "On installation, interior refinement and system builds on aircrafts of the RRJ», concluded with "Aviastar-SP", OSB JSC "Sukhoi Civil Aircraft" in Ulyanovsk aircraft passes for mounting interior. Also according to the agreement "On Painting aircraft," concluded with JSC «Spektr-Avia" OSB JSC "Sukhoi Civil Aircraft" in Ulyanovsk aircraft passes for painting.

sale

In 2012, the Company concluded the following aircraft delivery contracts:
— 6 aircraft to JSC "Aviation Company" Transaero ";
— 2 aircraft to JSC «Airline Muscovy."
Option was implemented on 5 planes of Interjet, and issued another option for 10 aircraft.

In 2012, work on the conclusion of supply contracts to a large extent has been complicated by many of your customers on suspension pending the outcome of negotiations disaster investigation in Jakarta. The official conclusion of the investigation it was only published Dec. 18, 2012. After that, our sales team resumed work with the majority of customers.

competitors

Structure of the portfolio in the segment 60-120 seats at the end of 2012.

  Ordered Planted Remaining orders
Embraer 1093 908 185
Bombardier 794 621 173
CJSC "Sukhoi Civil Aircraft" 179 17 162
Others 324 12 312

Structure of supplies for the preceding three years in the segment 60-120 seats.

  2010 % 2011 % 2012 %
Embraer 94 70% 71 61% 138 82%
Bombardier 41 30% 41 35% 19 11%
CJSC "Sukhoi Civil Aircraft" 0 0% 5 4% 12 7%

Financial statements

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In 2012 JSC "Sukhoi Civil Aircraft" produced and delivered 12 aircraft to customers, having received proceeds of $ 9,520 million and showed a significant increase (+177%) compared to 3431 million in 2011 (the year of the first five deliveries Sun) . The sharp increase in revenue primarily due to the increase in sales volume in the initial stage of mass production. The size of the revenue received in 2012 also affected the growth of R & D performed.
Separately, it is worth noting receipt by the Company EASA certificate in early 2012, which a
llowed the CJSC "Sukhoi Civil Aircraft" to begin export sales.
12 aircraft in 2012 were delivered the following airlines:
— 6 aircraft "Aeroflot" as a launch customer;
— Sun 2 "airline" Yakutia ";
— 1 aircraft "Airlines Muscovy";
— 2 Sun Airlines «Interjet (Interdzhet)" (Mexico);
— 1 Sun Airlines «Sky Aviation (Sky Aviation)" (Indonesia).

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In 2012, the cost was 11 528 million rubles. Its increase in absolute terms from 5593 million in 2011, due in the first 85 turn, increase production costs associated with the increase in the production of aircraft. At the same time, in relative terms, outstripping revenue growth (+177%) above the rate of cost growth (+106%) show an active sales policy of the Company to increase the selling prices of the sun, as well as a reduction in the cost accounting
period. CJSC "Sukhoi Civil Aircraft" has a policy of reducing costs in the following areas: optimizing the cost of procurement of materials, the cost in terms of wages, the introduction of Lean-production technologies and optimization overhead.

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Despite the fact that the result in 2012 was positive and amounted to -4,581 million, in relative terms, it is much improved compared to the year 2011, a negative net margin decreased to — 48% in 2012 vs. -112% in 2011 (-57%).
The main factors that have led to an improvement of the indicator is as follows:
— more than two-fold increase in the volume of sales (9,520 million in 2012 versus 3,430 million in 2011);
— more favorable to the Company’s sales prices Sun;
— cost optimization policy pursued by the Company’s management.

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Throughout 2012 CJSC "Sukhoi Civil Aircraft" invested in current and non-current assets, their total size increased from 60,488 million rubles in 2011 to 77,700 million in 2012 (+28% yoy).
Growth of the amount of non-current assets (10%) was caused by the further development of the SSJ-100, including a version of the Long Range, and activities associated with the development of new options for customer needs, which have signed firm contracts.
In 2012, current assets increased to $ 34 323 million rubles (+60% in 2011). The growth of current assets is mainly due to an increase in the proportion of nazavershennogo production and stocks in warehouses CJSC "Sukhoi Civil Aircraft" for the current and planned performance for the production of aircraft.
In the Company during the reporting period there were additional production capacity, was opened Separate structural division of JSC "Sukhoi Civil Aircraft" in Ulyanovsk, held optimization of production processes.
Conducted measures should allow the JSC "Sukhoi Civil Aircraft" in 2013 to ensure production targets.

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Financial debt at the end of 2012 amounted to 62 828 million (+28% in 2011). The growth of total debt due to the necessity of borrowing to finance the operating activities of the Company in connection with the increase in production volumes.
Taking into account the level of accumulated losses at the end of 2012 (-13 142 million rubles), the shareholders of JSC "Sukhoi Civil Aircraft" decided "recapitalization" of the Company, since 2013, in order to ensure the continued development of the program and further development of the production line .

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