KLA records net profit growth of more than 12 times

  • Net profit of JSC "UAC" in the first half of 2013 in accordance with the Russian Accounting Standards grew by more than 12 times compared to the same period last year
  • The net profit margin was more than 18%
  • Net debt of JSC "UAC" decreased by 6% compared with the beginning of the year

 

Moscow, August 5, 2013 — Open Joint Stock Company "United Aircraft Corporation" (JSC "UAC" and / or the Corporation) publishes its unaudited unconsolidated financial statements for the first half of 2013 according to Russian Accounting Standards (RAS).

Revenue JSC "UAC" in the first half of 2013 amounted to 2.7 billion rubles. Was lower than the same period in 2012, due to non-uniformity of the production cycle, the inherent aircraft industry. In this case, the results of 2013 the volume of revenue projected to remain at the level of the previous fiscal year — about 11.5-12.0 bln.

In the half-year reporting one of the new sources of revenue are in the R & D development of promising products and projects in accordance with the Federal Target Program "Development of Civil Aviation in Russia in 2002-2010 and for the period up to 2015", in the direction of providing income in the amount of 0.8 billion rubles .

Achieving high performance in financing activities increased the net income of the Corporation to 12 times compared to the same period in 2012, which has resulted in a net profit margin of more than 18%, and reduce the unallocated loss JSC "UAC" by 23% to 1.7 billion rub.

Net debt of JSC "UAC" for the 6 months of 2013 decreased by 6% to 33.9 billion rubles., While interest expense decreased by 2%.

Commenting on the financial results for the first half of the year, the Vice-President, Economics and Finance of JSC "UAC" Vladimir Chirikov, said: "We believe that the growth in net income and net assets may contribute to the development of interest to the investment community of the Corporation, as well as the formation of a positive history of securities of" KLA. "

The short form of the balance sheet of JSC "UAC" as of 30.06.2013 in accordance with RAS

thous.

30.06.2013

31.12.2012

31.12.2011

Fixed assets 133816806 128318648 126840282
Current assets 123669837 130157274 115358146
Receivables 95801030 100436809 90468161
Short-term investments 5059892 7734845 2505897
Cash and cash equivalents 20500631 19832419 19430564
Capital and reserves 191783873 191280972 176319960
Authorized capital   219654789 201925962
Undistributed profit (1,697,594) (32,952,166) (32,882,364)
Fixed liabilities 51094150 48523780 57881681
Long-term borrowings 48481805 47615588 53480674
Short-term liabilities 14608621 18671170 7996786
Short-term borrowings 5911488 8190902 1381476
Payables 7959881 9888652 5697223
Balance 257486644 258475922 242198428

Short form report on the financial results of JSC "UAC" for January-June 2013, in accordance with RAS

thous.

January-June 2013

January-June 2012

Change

Revenue 2719224 3231905 -15.9%
Gross profit 189227 54301 248.5%
Profit on sales (594300) (396 656) 49.8%
Profit before tax 604580 102362 490.6%
Net profit 502901 40274 1,148.7%
Net profit margin 18.49% 1.25%

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