19 Feb 2014 17:32

Power Machines 2013 RAS net profits rise 10%

ST. PETERSBURG. Feb 19 (Interfax) - OJSC Power Machines increased its net profits to Russian Accounting Standards (RAS) by 9.7% to 9.579 billion rubles last year, the company reported.

Sales revenues slipped 0.2% from 2012 to 43.491 billion rubles.

Main 2013 financials, 1,000 rubles:

	2013	2012
Sales revenues	43 490 753	43 597 550
Cost of sales	27 589 583	28 213 827
Gross profits	15 901 170	15 383 723
Sales profits	11 551 769	11 364 300
Pretax profits	11 601 537	10 593 327
Net profits	9 579 412	8 734 256

Power Machines' accounts payable contracted from 26.654 billion rubles on January 1 last year to 22.911 billion rubles on the same date this year. But accounts receivable increased from 15.726 billion rubles to 16.267 billion rubles.

Power Machines manufactures equipment for thermal, nuclear and hydropower plants as well as combined cycle steam-gas plants. It has production facilities in Leningrad and Pskov regions and in St. Petersburg and Kaluga.