28 April 2016

In 2015, Technodinamika’s IFRS revenues amounted to 19 billion 829 million rubles, 19% higher than for the same period last year (16 billion 638 million rubles). The holding’s net profit was 1 billion 994 million rubles. The EBITDA, too, increased significantly compared to 2014. The EBITDA profitability grew by 4% to reach 16.9%.

“We managed to increase the performance despite the challenges of the current economic situation: reduction in advancing from 50 to 30%, weakening of the ruble 1.3 times, and a twofold increase in inflation since 2013,” said Technodinamika CEO Maxim Kuzyuk. “Launching an anti-crisis program has helped us increase productivity by 40% per year; keep the share of overheads at the 2014 level and at the same time reduce the share of material cost in revenue. In addition, the growth in revenues was achieved through an increase in R&D activities and sales of serial products.”

The company’s IFRS statement shows a decrease in net profit by 454 million rubles (approx. 19%) compared with last year. Andrey Polyakov, Technodinamika’s Director for Economy and Finance, explains it as follows: “Last year, we released the base of the first comparative period for the preparation of the IFRS financial statements, in which were had to take into account Rostec’s property contribution (asset transfer) within the additional issue of shares worth 1 billion 375 million rubles. In 2015, there was no revenue under this item; in addition, the result decreased by a mere 454 million rubles owing to growth in other operating parameters.”

In 2015, the holding successfully completed development projects and tested new products for the SSJ-100, MS-21, Ka-62, and IL-112V aircraft. In particular, the company developed and conducted functional tests of a crash-resistant fuel system for helicopters, designed the landing gear and power supply systems for the Ka-62 helicopter, delivered the locks and hydraulic cylinders for MS-21 aircraft prototypes, prototype thrust reverser actuators for the PD-14 engine, conducted preliminary tests of an aircraft fire protection system and an aerial delivery system for the Bakhcha-U-PDS airborne assault vehicle. The holding company expects that the new competitive products will become the drivers of growth in the near future.