The consolidated statements were compiled for the group of companies within Power Machines OJSC and with account for subsidiary companies. The statements were audited by KPMG.
The Company's revenue for the six months of this year has amounted to 979,049 thousand US dollars, which exceeds the same indicator for 2012 by 6%. The Company's net profit for the six months of 2013 has increased by 21% in comparison to the same indicator for 2012 and amounted to 190,519 thousand US dollars.
Following the results of the six months of 2013, EBITDA amounted to 279,283 thousand US dollars – a 19% year-on-year increase.
The financial indicators consistently demonstrate the Company’s sustainable growth. The growth of financial indicators has been significantly influenced by the implementation of an investment program aimed at improving the productivity, reducing costs and minimizing production expenditures, increasing the rate of production capacities utilization and the volume of manufactured equipment shipments.
In the period from 2012 to 2014, the Company’s management, guided by the best international practices, implements a comprehensive programme Business System of Power Machines OJSC, which is targeted at enhancement of internal efficiency. In compliance with this programme, which is geared towards ensuring continuous optimization of production processes, perfecting design developments, improving occupational safety, satisfying customers’ demands and enhancing business processes, the Company plans to reduce costs and strengthen competitive advantages.
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