JSC IRKUT CORPORATION ACHIEVED SUBSTANTIAL GROWTH IN REVENUES AND PROFITABILITY IN 2010

JSC IRKUT Corporation publishes its financial statements according to IFRS.

By the end of 2010 JSC IRKUT Corporation achieved a net profit of 85,546 thousand US$ against the loss amounting to 19,385 thousand in 2009. Net profit margin was 5%.

Gross profit of 2010 reached 693,882 thousand US$, which represented 42% of revenues. Gross profit of 2009 amounted to 405,079 thousand US$ (31% of revenues).

High level of profitability of the Corporation was the result of increase of managing flexibility, implementation of innovative technologies, decrease of production costs and use of lean manufacturing technologies.

IRKUT Corporation’s revenue amounted to 1,672,650 thousand US$ in 2010, up to 27% over the results of 1,313,651 thousand US$ in 2009.

The Company has positive dynamics of increase in revenues for the last five years. Doubled increase of revenues during that period was achieved mainly due to export of Su-30MK multirole fighters.

The order book of IRKUT Corporation as in the beginning of 2011 makes over 6 billion US$.
President of JSC IRKUT Corporation Alexey Fedorov said: “The growth of the Corporation’s activities makes the solid basis for the development of new projects, such as MC-21 passenger aircraft”.