United Aircraft Corporation (UAC) unveiled its unconsolidated unaudited accounting statement for 9 months of 2013 in accordance with the Russian Accounting Standards (RAS), press-service of UAC reports.

“The UAC’s revenues for 9 months of 2013 reached 3.3 billion rubles. Taking into account the irregularity of UAC’s revenue recognition in the course of the year connected with the specific nature of aircraft deliveries, the major part of UAC’s revenues will be recognized in the fourth quarter of 2013: the unconsolidated revenues of the corporation for 2013 should reach 12-13 billion rubles exceeding the indicator of 2012. The net profit of UAC for 9 months of 2013 was 1.37 billion rubles; the loss was 1.25 billion rubles”, - the corporation noted.

UAC managed to increase the gross margin from 3.0% to 7.6% as compared to the same period of last year. It was achieved by reducing costs per unit of revenue.

In addition, the company managed to reduce other expenses by reducing the foreign exchange losses. As a result, the delta of other income/expense increased almost 8 times and amounted to 2.3 billion rubles allowing UAC to increase the net profit by more than 3 times (as compared to the same period of 2012), achieve net profit margin of more than 41% and reduce UAC’s accumulated loss by 51.2 % (as compared to the beginning of 2013) - to 0.8 billion rubles, UAC’s press-service explained.

UAC’s net debt decreased by 17% (as compared to the beginning of 2013) to 29.7 billion rubles during 9 months of 2013, while the interest expenses decreased by 3%.

Vice-President for Economics and Finance of UAC, Vladimir Chirikov, said: "Stabilization of the company’s financial situation is the management’s primary task. Its fulfillment will help us elaborate a long-term policy in the area of equity capital management and dividend payments”.