Board of Directors of United Aircraft Corporation (UAC) approved the long-term development program for the period until 2025 and key performance indicators system, UAC’s press-service reports.
The program was approved by governmental agencies, including Russian Ministry of Industry and Trade, Ministry of Economic Development, expert council of the Russian government, etc. On November 19th 2014 the Chairman of the Russian government, Dmitry Medvedev, approved the program.
«The program includes action plan aimed at increasing the output of UAC enterprises and improving financial performance of the corporation by 2025 in all segments. The revenues of UAC should increase four times and reach 900 billion rubles,» UAC president, Mikhail Pogosyan said. «Among top-priority objectives are: implementation of contracts in the network of State Defense Order, development of full-scale international cooperation with foreign airframers, development of advanced technologies and solutions ensuring competitive ability of Russian-produced aircraft at the global market».
Among key indicators of the program: increase of share of civil aircraft sales in UAC’s revenues to 40-50%, net margin of at least 10%, etc. In 2008-2013 basic conditions for stable long-term development of the Corporation were formed. UAC’s revenues increased by 20% per year, and the output more than doubled during this period. Mass production of competitive aircraft has been started, UAC explained.
Members of the Board of Directors discussed the budget implementation forecast for 12 months of 2014, stressed the successful implementation of the State Defense Order, increase of UAC enterprises’ output and deliveries, including SSJ 100 civil aircraft. Following the results of 2014 over 110 new combat and special-purpose aircraft were delivered to customers, as well as 40 civil aircraft.
Priority areas of activities for 2015 have been approved and some decisions aimed at reaching current goals and improving the efficiency of the corporation have been made at the meeting, the Corporation added.