News

Oct 29, 2010

Results of nine months are summed up

An extended session was conducted at “Uralvagonzavod” where results of three quarters of 2010 were summed up and targets for the fourth one undertaken.

In the course of the session the following officials gave their reports: Ruslan Kondrashov, CFO, Sergey Goryachev, director of investments and development, Svetlana Ivanilova, CHRO      

Carrying out the analysis of the economic-financial activities, Kondrashov has noted positive dynamics of the Corporation development, which principal characteristic appears in net profit amounting to 2.725 bln roubles.

Within the reporting period, commercial output was produced for 34.785 bln roubles and sale proceeds made up 35.512 bln roubles. Within nine months the following products have been produced: 12849 of railway vehicles including 9015 gondola cars and 3815 tank cars, 23 excavators, 64 miniloaders, and at that, reject level got reduced by 10%. Ruslan Kondrashov noted that volume of sales exceeded the production volume owing to accretion of demand for railway vehicles. As before, “Freight one” and “Novaya perevozochnaya kompaniya (NPK)” are the principal customers of the gondola cars, OJSC “Vostokneftetrans”, of the tank cars produced by ‘URALVAGONZAVOD.    

Almost 6.5 ths of rolling vehicles, 10 excavators and miniloaders each are in prospect for the fourth quarter of the year.  On the assumption of the 100% fulfillment of the annual plan, for the first time “URALVAGONZAVOD” will come out for the record production volumes within three recent years.   

Sergey Goryachev reported on fulfillment of the Corporation development budget in regard to investment activity. Twenty-four investment projects are implemented presently. However, the basic one is that pertaining to reconstruction and technical upgrading the facilities for production of military equipment which is under purpose-oriented Federal program. Nevertheless, project related to mastering mobile drilling rig is not less significant than those above mentioned. Acceptance trials of drilling rig МБР-125 are supposed to be conducted in the fourth quarter of the current year.

Holding a speech, Svetlana Ivanilova reported on realization of the social policy of the Corporation aimed at improvement of the employees’ life quality.  Within the reporting period social development expenses made up 601.4 mln roubles, out of them 347.9 mln roubles for maintenance of social and cultural objects. In September, the average wage at “URALVAGONZAVOD was increased up to 21,358 roubles. Within nine months it made up 16,671 roubles.

Svetlana Ivanilova especially noted that much effort have been undertaken by the Corporation Personnel Department as to retain personnel potential of Mechanical Assembly Production. Job inventory taking has been already completed. Advance retraining of workers and office workers has already started. In the near future a number of car assembly production shops will go for 4-brigade schedule of work allowing for increase of gondola car production volumes and set up of more than 700 additional job places. The efforts made are aimed at retaining the jobs for the specialists and avoiding mass displacements

Boris Dubrovsky, the first Deputy Director General summarized the results of the session. He emphasized that the achieved positive results are outcome of team work. However, a great deal awaiting ahead for which we have sufficient potential, especially internal one.