Jun 18, 2015

Summary of UVZ Enterprises Executives Meeting

In his report Oleg Sienko, UVZ Corporation CEO, emphasized that despite complicated economic situation over 90% of the integrated structure enterprises had completed the year in the black, including for net profit. In general, the Corporation has been operating with net profit for five years in a row.

Sienko emphasized the large-scale work of the Corporation on Defense Procurement, its volume made up USD 1.55 bn. this year (2.7 times increase compared to 2013). In total, over 1,500 units of new and upgraded equipment were delivered to the forces. Besides, the CEO underlined that the Corporation executed export contracts for over USD 2.57 bn. in 2014.

Oleg Sienko set the objectives for the enterprises of the Corporation for 2015. In particular, he said: “Increase of export, including that of civil products, is becoming one of the priorities under current conditions”. The Head of the Corporation also emphasized that “crisis period means not only new challenges but new opportunities, as well”. He encouraged the executives of the enterprises to focus on absolute execution of the Defense Procurement, development of new promising products, cost reduction and expansion of the internal cooperation.

It was also said about increase of availability of railway vehicles, overall production whereof will make up 20,000 units next year with the preference given to manufacture of innovative railcars.

Yuriy Bodyaev, First Deputy CEO, in his report on the Corporation’s results in 2014 mentioned that the expected key financial and economic indicators of the Corporation will make up USD 3.86 bn. for revenue, USD 165 m. for sales profit, and USD 18.94 m. for net profit.

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