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#VSMPO-Avisma net profit grew by 23% in Q1

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August 14 2014

In January-June of the current year VSMPO-Avisma increased RAS net profit by 22.9% compared to 2013 similar period value, up to RUB 4 billion 610.339 million, according to the Corporation report.

The Corporation’s revenue increased by 12.3% up to RUB 25 billion 58.903 million.

According to the report, major factors that entailed revenue growth are growth of shipment volumes in natural units, change in product mix, selling prices in dollars for products as well as dollar exchange rate.

Accounts receivable decreased from RUB 15 billion 529.048 million as of December 31, 2013 to RUB13 billion 17.926 million as of June 30, 2014. VSMPO-Avisma is RF monopolist in production of titanium and titanium products.