Profit of Russian Helicopters Holding Company for the first half of 2014 was 4,4 billion rubles

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Profit of Russian Helicopters Holding Company for the first half of 2014 was 4,4 billion rubles

Russian Helicopters Holding Company - a subsidiary of Oboronprom Corporation, part of State Corporation Rostec, - announced its non-audited consolidated financial statement for the first half of 2014 (in accordance with IFRS), the company’s press-service reports.

“The company’s consolidated revenues for the first half of 2014 reached 69.2 billion rubles (+7.4% as compared to 2013). Revenues from helicopter sales totaled 58.7 billion rubles, revenues from services and after-sales support - 7.5 billion rubles. Cost of sales increased by 6.3% year-on-year and reached 42.2 billion rubles. Operating expenses increased by 6.4% year-on-year and amounted to 17.3 billion rubles”, - said in the company’s statement.

As compared to the first six months of 2013 EBITDA increased by 16.1% year-on-year and reached 13.7 billion rubles. EBITDA margin was 19.8%. Profit for the first six months of 2014 amounted to 4.4 billion rubles (+44.7% year-on-year). The company’s backlog included 794 helicopters worth 401 billion rubles.