30 Mar 2011 15:29

VSMPO-Avisma RAS net profits soar 240% to 588 mln rubles in 2010

MOSCOW. March 30 (Interfax) - Net profits at the corporation VSMPO-Avisma jumped 240% last year to 587.898 million rubles, the titanium producer said in a statement.

Sales revenues, on the other hand, were down from 26.013 billion rubles in 2009 to 24.748 billion rubles in 2010.

Revenue fell due to changes to the product mix, wholesale prices in foreign exchange and a lower dollar rate.

VSMPO-Avisma financial highlights, '000 rubles:

	2010	2009	2010/2009
Sales revenue	24 748 173	26 013 345	-4,9%
Titanium products	21 364 948	23 315 574	-8,4%
Aluminum products	907 060	580 657	56,2%
Steel products	131 052	160 859	-18,5%
Magnesium products	835 592	879 447	-5%
Ferrotitanium	678 571	306 071	121,7%
Other products and services	830 950	770 737	7,8%
EBITDA	3 166 664	3 931 253	-19,5%
Operating profit	3 399 220	5 600 437	-39,3%
Pretax profit	942 513	978 548	-3,7%
Net profit	587 898	172 889	240%

Receivables decreased to 8.48 billion rubles from 13.84 billion rubles during 2010, while payables increased to 4.95 billion rubles from 2.93 billion rubles.