Russian Helicopters 2011 Profit Up 13% to $230 Mln

Russian Helicopters, which designs and manufactures civil and military rotorcraft, saw its 2011 IFRS net profit rise 12.7 percent year on year to 7 billion rubles ($233 million), the company said on Monday.

The company’s revenues grew 27.8 percent that year to 103.9 billion rubles. Revenues from helicopter sales amounted to 82 billion rubles and revenues from services and support reached 15 billion rubles.

EBITDA grew 31 percent to 18 billion rubles. EBITDA for the helicopter sales segment amounted to 14.3 billion rubles and EBITDA for the company’s services and support segment amounted to 3.5 billion rubles.

Operating expenses increased by 23.3 percent to 25.9 billion rubles.

“During the year, we consolidated our position as one of the leading players in the global helicopter industry,” Russian Helicopters CEO Dmitry Petrov said. “We increased deliveries by 22.4 percent to 262 helicopters to our customers from 19 countries, which allowed us to achieve a market share of 14 percent of the world’s helicopter market in cash terms.”

“Moreover, we succeeded in doubling the company’s firm order book, which reached 859 helicopters with a value in excess of 330 billion rubles by year-end.”


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