Nov 18, 2010

Preliminary results of work in 2010

Upon results of 2010, expected volume of sales will amount almost to 54 bln roubles which is 1.5 times exceeds results achieved in 2009. Therewith, expected amount of net profit will make up about 3.4 bln roubles exceeding not only results of recession year 2009 but all previous years of work of “URALVAGONZAVOD”

Technical upgrading investments will amount to 2.44 bln roubles and lease payments, 2.91 bln roubles.

Upon results of 2010 total production volume of railway vehicles will exceed 19 thousand units, which is correlated with the pre-recession results of work and more than 2 times exceed results of 2009. Such considerable increase of railway vehicle production allows to form “a civil” stock of orders in the whole. 

In this year stock of orders appears in the following way: 55% military equipment, 44% railway vehicles (whereas 65% military equipment and 34% railway vehicles in 2009).

As a whole, upon results of the current year, total volume of investments aimed at development of “URALVAGONZAVOD” will exceed 5.6 bln roubles.

Further increase in production and sales of railway vehicles is projected in 2011. The Corporation intends not only to increase quantity of the railway products but to ramp up production of new generation railway products with the improved technical and performance characteristics.

Throughout 2010, new personnel are continuously admitted for the most required specialties. At that, two thirds of newly admitted are young people before 30. Training and retraining activities aimed at retaining the human resources is systematically carried out in the Corporation.

Upon results of the current year September, the average wage at “URALVAGONZAVOD” amounts to 21.358 roubles, which 3000 roubles more than that in Nizhny Tagil.

Total social development expenses exceeded 600 mln roubles in 9 months.