Motor Sich Posts UAH 219 mln in Net Profits in 2Q
OREANDA-NEWS. August 2, 2010. The Motor Sich, a major producer of aircraft engines in the CIS region, posted a net income of UAH 218.6mn in 2Q2010, the company disclosed in its quarterly report July 30. The net income grew 2.1% yoy and 6.3% on the qoq base. The company increased its net revenues by 21% yoy to UAH 1,014.3mn in 2Q2010, while the qoq growth constituted 5.0% over the same period. Furthermore, the quarterly EBITDA reached UAH 303.6mn in 2Q2010, which represents a 6.7% qoq gain.
At the same time, a recognized local news paper, reported on July 30, the company may lose the exclusive right to supply its D-436-148 engines for Russian AN-148 aircrafts as
Millennium Capital considers the news as positive for MSICH. The growth in the second half of the 2010 is attributed to profitable contracts that company has entered into with the Indian Air Force and
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