UAC announces preliminary unaudited financial results for 2010 on Feb 2, United Aircraft Corporation (UAC)
Release Date: 2011-02-02
- Revenue totaled 165 billion roubles, y-o-y increase of 44.7%- Debt decreased by 6.4%, amounting to 147.6 billion roubles
- Sukhoi Superjet 100 serial production was launched
- Tu-204SM certification tests program started
- Capital increased by 57.03 billion roubles
According to preliminary management accounts, UAC’s consolidated revenue in 2010 increased by 44.7% in comparison with 2009 and amounted to about 165 billion roubles.
Sales of defense aircraft in 2010 increased 36.0% and amounted to approximately 117 billion roubles. Sales of commercial aircraft in 2010 grew 60.0% and reached 20 billion roubles. The firm commercial aircraft order portfolio formed by UAC’s subsidiaries in 2009-2010 and advance payments coming from customers supported significant revenue growth in civil sales segment. The increase in financing of research and development from the Russian Federation and commercial customers amounted to 80.6%. Total R&D revenues in 2010 reached about 28 billion roubles.
In 2010, exports volumes grew by more than one-third, reaching 94 billion roubles, compared with 69 billion roubles in 2009. Domestic sales of aircraft and R&D services showed significant growth, increased 57.8% and reached 71 billion roubles. State orders and commercial aircraft contracts with Russian airlines and leasing companies were the major drivers for continued sales in the domestic market.
UAC's consolidated debt was reduced 6.4% y-o-y and totaled 147.6 billion roubles in 2010. State support measures received by UAC and its subsidiaries in 2010 led to significant changes in UAC’s debt structure. Now repayment of the loan portfolio is secured with the revenue coming through the signed contracts.
| Type: | NORMAL |
| Company: | United Aircraft Corporation (UAC) |