Russian Helicopters H1 Net Profit Climbs 13%

Russian Helicopters, which designs and manufactures civil and military rotorcraft, posted a half-year IFRS net profit of 3.1 billion rubles ($97 million), up 12.9 percent from the same period last year, the company said on Wednesday.

The company’s consolidated revenue totaled 60.3 billion rubles, a 42.3 percent increase year-on-year, “driven by growing demand for the helicopters produced by the company,” Russian Helicopter said.

Revenues from helicopter sales amounted to 47.3 billion rubles, while revenues from services and support reached 9.3 billion rubles.

EBITDA rose by 36.3 percent to 9.2 billion rubles, with EBITDA margin at 15.2 percent.

The cost of sales increased by 44.8 percent year-on-year to 36.2 billion rubles and operating expenses grew by 48.3 percent to 17.6 billion rubles.

The company’s order book increased to 921 units, with a total value exceeding 460 billion rubles.

“Our financial and operating results for the first half of 2012 demonstrate that demand for our helicopters both in Russia and around the world continues to grow rapidly,” Russian Helicopters CEO Dmitry Petrov said. “These results show that we continue to deliver on our strategy and to reinforce our position as one of the world’s leading and most profitable helicopter businesses.”


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