Site news 8.05.2015
May 8, 2015, Rybinsk. - NPO Saturn has summed up the main results of its activity in the 1 quarter of 2015.
2015 saw a continued tendency of growing volumes of production and sales maintained over the last 4 years. This is due to the finalization of creating a sustainable, diversified order portfolio on the one hand and reaching the mature level by a whole range of the company’s products, on the other. As of today, despite the continuing crisis, NPO Saturn is increasing its involvement in both the state defense order programs and imported goods substitution programs vital to the country’s defense capacity, and in export deliveries and deliveries to the civilian sectors of the economy.
The sales volume in the 1 quarter of 2015 has reached RUB 4.6 billion with the year-on-year growth equaling 71 %.
Following the operational results of the 1 quarter of 2015, the sales profit has amounted to RUB 1.3 billion compared to the losses demonstrated in the previous periods. The sales profit figure was influenced by the significant changes conducted over the 5 past years in the structure of the order portfolio, reaching a good balance of orders distribution between the main groups of consumers, and also by the actions aimed at the operational cost optimization implemented by the company. The net loss is at the lowest level in several years, which is exclusively explained by the factor of exchange rate disparity indicated in the company’s reporting documents. It’s fair to say that the 2014 results for the most part were also influenced by the exchange rate fluctuations while the sales profit indicator had remained negative. In 2015 NPO Saturn expects a much smaller impact of the exchange rate fluctuations on its financial results, which coupled with the significant sales revenue and profit allows forecasting a substantial improvement of the company’s main economic indicators.
Based on the 1 quarter results, the company has been able to secure an order portfolio which allows to forecast a sales volume in 2015 exceeding RUB 22 billion. At the same time, NPO Saturn has carried out a number of tasks allowing to drastically decrease the need in operating capital including loaned capital for financing the current operations, which since the beginning of the year has permitted the company to decrease its loan portfolio by RUB 3 billion.
The NPO Saturn Research and Production Association (OJSC) is an engine-manufacturing company specialized in the design and development, production and after-market support of gas turbine engines for military and commercial aviation, naval ships and power-generating plants and gas-pumping units. The association is part of the Union of Russian Mechanical Engineers, an all-Russian public organization.
NPO Saturn is part of United Engine Corporation (JSC) and acts as the leader of the Commercial Engines Division, a business unit of UEC founded on 09.10.2012 as a result of integration of the following companies: NPO Saturn (OJSC), Aviadvigatel (OJSC), PMZ (OJSC), Metallist-PM (CJSC), Energetik-PM (OJSC), REMOS-PM (CJSC), Motoservis-PM (CJSC) and Zheleznodorozhnik-PM (CJSC).
United Engine Corporation (JSC) (a Rostec State Corporation company) is an integrated organization specialized in the design and development, serial production and after-market support of the engines for military and commercial aviation, space programs, the Navy, as well as for the oil and gas industry and power generation. One of UEC’s prioritized fields of activity is the implementation of comprehensive programs of development of the companies in the industry by introducing new technologies meeting the world-class standards. In 2013 revenues of the corporation amounted to RUB 158.9 billion.
The Rostec State Corporation is a Russian corporation established in 2007 in order to facilitate the development, manufacturing and export of high-technology industrial products of military and commercial application. Today it comprises over 700 companies, which form 9 defense-industrial and 5 civil industry holdings as well as 22 direct control companies. The Rostec portfolio includes such renowned brands as AVTOVAZ, KAMAZ, Russian Helicopters, VSMPO-AVISMA, etc. Rostec’s subsidiaries are located in 60 regions of Russia and deliver their products to over 70 countries worldwide. In 2013 revenues of the corporation amounted to RUB 1.04 trillion. Total taxation exceeded RUB 138 billion.