Russian Helicopters expects IFRS sales revenue growth of 45% in 2012
MOSCOW. May 17 (Interfax) - The holding Russian Helicopters expects this year to earn sales revenues to International Financial Reporting Standards (IFRS) of around 150 billion rubles, which would be about a 45% increase on last year, General Director Dmitry Petrov told the press on Thursday.
"Sales revenue growth will be substantial, by our estimates it will be a little less than 150 billion rubles," Petrov said. It was reported earlier that Russian Helicopters earned 103.9 billion rubles in IFRS sales revenues in 2011.
Petrov said that more than three hundred helicopters would be produced this year. The company and the airlines PAHKh intend on Thursday to sign an agreement on the creation in southern Russia of a service center for Mi-171 helicopters. He revealed no details of this agreement, but did say that plans call for setting up a chain of centers in Russia for servicing these machines. Russian Helicopters also intends to set up helicopter service centers outside of Russia - before end-2012 in China, in South Africa, Brazil, and India.
Russian Helicopters ended last year with IFRS net profits of 7 billion rubles and EBITDA (earnings before interest, taxes, depreciation, and amortization) of 18 billion rubles.
