UVZ Corporation to get over 650m RUR in net profit

December 23, 2014. Over 90% of Uralvagonzavod (UVZ) Corporation’s member enterprises made some net profit in 2014, the corporation’s press service refers to Director-General Oleg Sienko as saying at the end-of-year management meeting in Moscow.

Sienko said in his speech that, economic difficulties notwithstanding, the corporation had been making net profit for five years in a row.

He also pointed out that UVZ did a lot of work towards the government defense order (54.4bn RUR worth of goods, which was 2.7 times more than in 2013). 1,500 units of new and upgraded military vehicles were delivered to the army. Sienko also said the company fulfilled over 90bn RUR worth of export orders in 2014.

‘An increase in export is one of our current priorities, and this means civilian-purpose goods as well.’
The corporation’s Director-General also noted that ‘a crisis stands not only for new challenges but also for new opportunities.’

Sienko called for all the member enterprises’ heads to focus on meeting the government defense order by all means, creating new, promising products, cutting costs, and building up on internal cooperation.

It was also pointed out that an increase in the range of railway vehicles was important, with the expected total output for 2015 estimated at 20,000 units. Innovative railway carriages would be given priority.

First Deputy DG Yuri Bodyaev, who made a report on the company performance in 2014, said the corporation’s revenues would amount to 135.1bn RUR, its sales profit to 5.8bn RUR, and net profit to 663m RUR.

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