“Kommersant”: the KLA plans to reach a sustainable profit in 2018

“Kommersant”: the KLA plans to reach a sustainable profit in 2018

MOSCOW, July 18. /TASS/. United aircraft Corporation (UAC) plans next year to reach a sustainable profit, said the President of UAC, Yuri Slusar.

“When the system of state support in 2016, the Corporation first came to breakeven. In 2017, we intend to continue that trend to 2018 to reach a sustainable profit. This will allow you to go into the category of financially stable companies, will give us new opportunities to work with banks, investors, shareholders,” – said Slusar in published on Tuesday of interview to the newspaper “Kommersant”.

As previously reported, a net loss of UAC under international financial reporting standards (IFRS) at the end of 2016 amounted to 4,481 billion is 24.5% less than at the end of 2015. According to the Russian accounting standards (RAS), the loss amounted to 3.16 billion rubles. The strategy of the KLA involves the return to profitability no later than 2025.

According to Slusar, the share of civilian products in the total production of the Corporation in 2017 will increase but not much. “In 2016, this share was 17%, this year we expect slightly more – 18%. The increasing number of “non-military” programs in the portfolio – our main trend”, – said the publication of the President of UAC, noting that the strategy of the Corporation prescribe, by 2025, to increase the share of civilian products to 45%.

UAC brings together the largest aircraft building enterprises of Russia, manufactures both military and civil aircraft. The state represented by Rosimushchestvo owns 91% of shares holding.