Russian Helicopters consolidated revenue nearly a third up in 2011
MOSCOW. April 9 (Interfax) - The Russian Helicopters Holding significantly improved its economic and financial performance in 2011.
"The company's consolidated revenue by the International Financial Reporting Standards (IFRS) stood at 103.9 billion rubles in 2011; it grew by 27.8%, mostly due to the considerable (22.4%) increase in the helicopter supply," says a holding report received by Interfax-AVN on Monday.
The company earned 82 billion rubles in selling helicopters and another 15 billion rubles in helicopter service and maintenance.
"I am glad to announce the impressive results the company achieved in 2011. The results confirm our ability to achieve the goals and to meet obligations to shareholders, partners and the market," the report quoted Russian Helicopters General Director Dmitry Petrov.
The holding's EBITDA (earnings before interest, taxes, depreciation, and amortization) grew by 31.7% to 18 billion rubles in the reporting period. It amounted to 14.3 billion rubles in the helicopter sales segment, and 3.5 billion rubles in helicopter service and maintenance.
The company revenues enlarged by 12.7% to 7 billion rubles in 2011.
The company investment expenditures enlarged by 90.3% to 13.7 billion rubles, among them 9.1 billion rubles of investments in industrial facilities (65.5% growth since 2010).