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NPO Saturn summarized operating results in the first quarter of 2012

Site news 23.04.2012

April, 23rd 2012, Rybinsk NPO Saturn OJSC tallied up its operating results in the first quarter of 2012. The companys chief executive officer Ilya Fedorov emphasized that in a given period NPO Saturn has been able to ensure stable economic and quality performance which characterizes stability of the companys operating system. The product sales volume has amounted to 112,0%, the volume of production being 118,8%.
In March 2012 for the first time in the history of the SaM146 program, the company assembled 4 engines, three of which have been shipped to SCAC. NPO Saturn is fully committed to consolidate this success and continue ramping up serial production of its engines in strict accordance with the customer’s needs. The company is off to a successful start in fulfilling a government order serving the interests of the Ministry of Defense of the Russian Federation.
In the first quarter of 2012 the cash assets resulting from the company’s core operations exceeded expectations as the result of receiving the advance payments under a contract of supplying engines to an international customer. Consequently, NPO Saturn managed to reduce its accounts payable portfolio by 0,9 bln. rubles compared to the level demonstrated at the beginning of 2012.
On the whole, in 2012 the company’s activity is primarily focused on conducting the necessary internal changes enabling Saturn to ensure a smooth increase of its production volume which is planned as 131,7% of the production volume demonstrated in 2011.
 
Research and production association Saturn OJSC – an engine-building company specialized in design, manufacture and aftermarket support of gas-turbine engines for military and civil aviation, power-generation and gas-pumping installations, the Navy boats and commercial ships. NPO Saturn OJSC is part of United engine corporation – a 100% subsidiary of the united industrial company OBORONPROM OJSC with the objective of engine-building asset management.
United industrial company OBORONPROM OJSC – a multi-field machine-building group of companies founded in 2002. It is part of GK Russian technologies. Its main fields of business: helicopter building (Helicopters of Russia OJSC), engine building (MC ODK) and other assets.
NPO Saturn press service:
Phone: +7 4855 296898,
e-mail: press@npo-saturn.ru, www.npo-saturn.ru



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