VSMPO-Avisma’s sales revenues drop 16%

The sales revenues of Sverdlovsk Region-based VSMPO-Avisma went down by 3.6 billion RUR, or 16% in January-September 2009. The revenue figure thus only came to 19.2 billion RUR.

The company says the revenues dropped because of reduced sales output. However, the drop in sales revenues was partially made up for by 18% decrease in the prime cost of the company’s produce, VSMPO-Avisma Corporation says.

The corporation’s gross profit declined by 7.5 billion RUR, or 12.6% in the third quarter of 2009. Its net profit plunged by 33.4% and amounted to 977.171 million RUR, whereas the return on assets decreased by 2.6%.

‘We have been selling less due to a number of factors, namely, the shrinking, recession-hit demand, the delay in the construction projects involving titanium-based V787 and À380 airplanes, smaller storehouse supplies, and increased competition,’ the corporation reports.

Other materials on the topic::