OREANDA-NEWS. March 28, 2012. Power Machines OJSC, Russia’s largest manufacturer of power generating equipment, announces its financial results for the 12 months of 2011, compiled in compliance with International Accounting Standards (IAS).

The Company’s revenue for the 12 months of 2011 amounted to 1,702,856 thousand US dollars which is up by 1.69% compared to the same inex in 2010. The production cost decreased by 4.22% and reached 1,133,250 thousand US dollars at year-end 2011.

The gross profit margin for the 12 months of 2011 amounted to 569,606 thousand US dollars which corresponds to a 15.91% increase of the given indicator compared to the reporting period of 2010. 

The net profit of Power Machines OJSC increased by 26.36% and amounted to 323,044 thousand US dollars according to the results of the year 2011. 

The EBITDA increased by 22.20% and totalled 443,860 thousand US dollars for the year 2011. 

The growth of financial indicators was significantly influenced by the implementation of a large-scale investment program aimed at improving the productivity, reducing costs and minimizing production costs, increasing the rate of production capacities utilization and the volume of shipments of manufactured equipment.