Saturn Announces 2011 Results

March 15, 2012, Rybinsk  Based on accounting results, Saturn has announced its financial results for 2011.

Revenue from production amounted to 10.5 billion rubles, a growth of 7.9% compared to 2010.

Optimizing operational activities and the further implementation of the companys anti-crisis program allowed the company to achieve positive results in 2011 for clear profit of 53.3 million rubles, set against 2010s loss of 1.5 billion rubles.

Stabilization of the financial situation and improved efficiency enabled growth in wages in 2011 of 18.1%, while efficiency per employee increased by 23.1% set against 2010. In 2012 the company plans to implement measures ensuring further growth in the average wage of 14.3%.

2011 was an important anniversary for Saturn, marking 95 years since the company was founded, and was celebrated with many important events. Among the more noteworthy was the beginning of commercial exploitation of the Sukhoi SuperJet 100 using the SaM146 engine, the HJT-36 aircraft using the AL-55I engine publicly demonstrated at the AeroIndia2011 air and space salon, and the spinning-off of new subsidiary Saturn  Tool Plant (SatIZ), a dedicated UEC Center of Competency for technological production preparation. In 2011 the sum total of GTD-6RM engine operational hours surpassed 1 million.

Another significant achievement in 2011 was the companys preparation and signing of a number of long-term contracts, which will enable growth in production volumes and implementation for years to come.

Saturn managing director Ilya Fedorov noted that in 2012 the company is focussing first of all on making necessary internal changes which will enable us to continue expanding our production, which in 2012 is already projected to be 131.7% of 2011 levels.

NPO Saturn is an engine-building company specializing in the development, production, and aftersales servicing of gas turbine engines for military and civil aviation, electrical generating and gas transport facilities, and military and civil marine vessels. Saturn is a part of the United Engine Corporation, itself a subsidiary of OBORONPROM, specializing in managing engine-building assets.

United Industrial Corporation OBORONPROM is a multi-faceted machine-building group founded in 2002. It is a part of the Russian Technologies group of companies. Its primary areas of business include helicopters (Russian Helicopters), engine-building (UEC), and other assets.

Saturn Press Service
Tel: (4855)  296 −898