Russian Helicopters Announces 7% Growth in Revenues, 29% EBITDA Increase

Russian Helicopters Announces 7% Growth in Revenues, 29% EBITDA Increase

Moscow, Russia / 12 September 2013 – Russian Helicopters („the Company”) – a subsidiary of Oboronprom, part of State Corporation Rostec – announces its consolidated financial results for the first half of 2013 under IFRS.
 Firm backlog totaled 870 helicopters as of June 30, 2013;
 Revenue grew by 6.9% to RUB 64.5 billion;
 EBITDA1 surged 29.3% to RUB 11.8 billion, representing an EBITDA margin of 18.3%;
 Profit totaled RUB 3.0 billion.

RUB, million
1H2013
1H2012
Change, y-o-y (%)

Revenue
64,470
60,292
6.9%
EBITDA
11,791
9,120
29.3%
EBITDA margin
18.3%
15.1%
3.2 pp
Profit
3,049
3,056
-0.2%

Financial Highlights

The Сompany’s consolidated revenues in 1H2013 totaled RUB 64.5 billion, an increase of 6.9% year-on-year. Revenues from helicopter sales amounted to RUB 54.4 billion, while revenues from services and support reached RUB 6.9 billion.
Cost of sales increased by 5.9% year-on-year and amounted to RUB 38.4 billion. Operating expenses decreased by 0.7% year-on-year and totaled RUB 17.5 billion.
EBITDA surged 29.3% year-on-year and reached RUB 11.8 billion. The EBITDA margin was 18.3%.
Profit in 1H2013 totaled RUB 3.0 billion.
Backlog
The Сompany’s order book reached 870 helicopters, with a total value of about RUB 384 billion.

Source  /Author: Russian Helicopters