UralVagonZavod Makes 2.4 Times Less Profit From Export Contracts

UrBC, Yekaterinburg, November 14, 2017. UralVagonZavod Corporation (UVZ) carried its financial report (based on the Russian Accounting Standards) for the nine months of 2017, the company press service reports.

‘The corporation’s revenues reached RUR 61.1bn, which is comparable with last year’s figures. at the same time, revenues stemming from sale of civilian goods rose to RUR 27.8bn (compared with only RUR 8.4bn a year earlier) and thus made up 45.5% of our sales against 13.7% last year. Profits stemming from our high-margin export contracts declined by 30.9%, down to RUR 18.9bn in January-September 2017 against January-September 2016, when the figures were 75.1% and RUR 46.2bn, respectively,’ the press service says.

The company’s net loss (calculated in accordance with the International Accounting Standards) amounted to RUR 3.133bn in the first half of the year, which was 39.7% more than one year earlier.

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