News Column

Russian Helicopters Posts 7% Growth in Revenues, 16% EBITDA Increase in 1H 2014

September 1, 2014



ENP Newswire - 01 September 2014

Release date- 29082014 - Russian Helicopters ('the Company') - a subsidiary of Oboronprom, part of State Corporation Rostec - announces its non-audited consolidated financial results for the six months ended 30 June 2014 under IFRS.

Firm backlog totaled 794 helicopters as of 30 June 2014;

Revenue grew by 7.4% to RUB 69.2 billion;

EBITDA1 surged 16.1% to RUB 13.7 billion, representing an EBITDA margin of 19.8%;

Profit totaled RUB 4.4 billion, up 44.7% year-on-year.

RUB, million 1H2014 1H2013 Change, y-o-y (%)

Revenue 69,230 64,470 7.4%

EBITDA 13,686 11,791 16.1%

EBITDA margin 19.8% 18.3% 1.5 pp

Profit 4,411 3,049 44.7%



Financial Highlights

The company's consolidated revenues in 1H2014 totaled RUB 69.2 billion, an increase of 7.4% year-on-year. Revenues from helicopter sales amounted to RUB 58.7 billion, while revenues from services and support reached RUB 7.5 billion.

Cost of sales increased by 6.3% year-on-year and amounted to RUB 42.2 billion. Operating expenses increased by 6.4% year-on-year and totaled RUB 17.3 billion.

EBITDA surged 16.1% year-on-year and reached RUB 13.7 billion. The EBITDA margin was 19.8%.

Profit in 1H2014 totaled RUB 4.4 billion, up 44.7% year-on-year.

Backlog

The company's order book reached 794 helicopters, with a total value of about RUB 401 billion

1 - The company defines EBITDA as operating profit before depreciation and amortization, adjusted for gain /loss on disposal of property plant and equipment, impairment of property, plant and equipment with share in results of associates included. EBITDA is a non-IFRS financial measure; therefore the company's definition of EBITDA may differ from similar measures defined by other companies.


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Source: ENP Newswire


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