OREANDA-NEWS. November 05, 2009. Silmash increased the IIIQ net profit (RAS) to 1.522bn rub. which is 1.6 fold higher prior quarter - 930.297mln rub., the company informed.

The growth was prompted by the improved financial status and realization of large projects on the delivery of the equipment to Kirishskaya GRES. The 9-month net profit gained 3.89bn rub.

Silovye Mashiny Concern is a producer of the equipment for hydraulic, heat, gas and atomic power plants and railway facilities. It involves Leningradsky Metal Plant, Electrosila, Turbine Bucket Plant, Kaluzhsky Turbine Plant and Energomashexport as a sale company. The equipment made at the entities was installed at different objects in 87 countries.

The share capital is worth 87.089mln rub. split in 8708938708 common stocks of 0.01 rub. par. A. Mordashov consolidated 55% through Highstat Limited held by Interros and UES earlier.

Then, he increased the stake to 68.8%; Siemens Aktiengesellschaft having 25%.

The net losses in 2007 (IAS) rose 2.3 fold to USD 304.08mln; revenues from sales being up 33% to USD 770.048mln.

The 2008-net profit (RAS) reached 851.43mln rub. against 3.111bn rub. in losses prior year; revenues being up to 27.541bn rub. from 17.702bn rub. The 2008-net profit (IAS) gained USD 79.626mln vs. USD 304.08mln in losses prior year; revenues from sales coming to USD 1.312bn or USD 542.2mln higher last year-\\$770.05mln; EBITDA achieved USD 128.39mln (in 2007 minus USD 247.88mln).