Dec 30, 2012

UVZ Year-end meeting

UVZ CEO Oleg Sienko held end of the year meeting of the corporation executives and directors of its subsidiaries and affiliates in Moscow.

UVZ as anticipated showed high financial and economic performance in 2012. Expected revenue will be up to $4.083 billion, including other affiliates, it will exceed $6.514 billon. EBITDA will equal $660.944 million, EBITDA margin — 16.2%, and net income — $394.983 million. In 2012 the Corporation shows high growth rate: sales revenue is 44% higher, compared to 2011, profit on sales is 21% higher, net income is 26% higher.

Over the last three years (2010-2012) UVZ has doubled its key figures (revenue, EBITDA, net income). UVZ is expected to own 38.8% of freight cars manufacturing market share in Russia and 23% in CIS. In 2012 UVZ produced and sold about 28 000 rolling stock units, which is 12% higher than what has been planned for 2012.

The Corporation won a $225.806 million tender for 120 tram cars supply for Moscow. They will be manufactured in 2014-2015 jointly with Bombardier Transportation at OJSC «Uraltransmash». This will be an impetus for the corporation in terms of urban rail transport production, according to UVZ top managers. In 2012 80% (compared to 67% planned) of sales pattern was export of military products, which contributed to over-fulfilling main financial and economic plan of the Corporation. Investment amount in 2012 is more that 30% higher in 2011.

UVZ provides steady rise in labour productivity. Among industrial enterprises in 2012 this figure is expected to equal $78 827, which is 32.2% higher compared to 2011. Generally, in 2012 «Uralvagonzavod» Corporation showed high production rates and financial and economic performance. Defence Procurement and Acquisition for 2013 is estimated to be 1.5 more than in 2012.

At the end of the meeting Oleg Sienko, CEO of OJSC «Research and Production Corporation «Uralvagonzavod», said that global and domestic economy is expected to face challenges in 2013. Still, according to Sienko, the Corporation is prepared for difficult economic conditions by cost saving, increasing labour productivity and diversifying its product line.

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