VSMPO Avisma Corporation’s net profit drops 46% in 2014
26 March 2015 (18:17)
March 26, 2015. VSMPO Avisma’s net profit declined by 46%, from 7.451bn RUR to 4.018bn RUR, in 2014, the company reports.
‘The unfavorable differences in the rate of exchange caused by the weakening of the ruble in late 2014 were the main negative factor affecting this result. It was also for this reason that our EBITDA dropped by 33.4% and came to 8.302bn RUR last year,’ the corporation explains.
Additionally, the number of employees within the company decreased by290 people and thus came to 20,200 workers, whereas per-worker output actually went up by 20.4% and amounted to 2.7m RUR.
The company’s titanium goods output rose from 28,855,000 kg in 2013 to 29,264,000 kg in 2014, with a greater share of deep-level processing products. Revenues therefore increased from 46.131bn RUR to 54.776bn RUR and operational profit went up from 11.696bn RUR to 17.509bn RUR.
‘The unfavorable differences in the rate of exchange caused by the weakening of the ruble in late 2014 were the main negative factor affecting this result. It was also for this reason that our EBITDA dropped by 33.4% and came to 8.302bn RUR last year,’ the corporation explains.
Additionally, the number of employees within the company decreased by290 people and thus came to 20,200 workers, whereas per-worker output actually went up by 20.4% and amounted to 2.7m RUR.
The company’s titanium goods output rose from 28,855,000 kg in 2013 to 29,264,000 kg in 2014, with a greater share of deep-level processing products. Revenues therefore increased from 46.131bn RUR to 54.776bn RUR and operational profit went up from 11.696bn RUR to 17.509bn RUR.
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