«EMAlliance» sums up financial results of 2009

In 2009 profits on sales totaled 298 million rubles versus 357 million rubles losses. EBITDA factor for 2009 was 538 million rubles vs negative value amounting to 345 mln. rbl.
It should be noted that the positive dynamics of JSC “EMAlliance” main financial indicators in 2009 was conditioned by the completion of company structural formation as well as the key business processes and core cash flow of the group consolidation directly in JSC “EMAlliance”. At that the order portfolio of the company increased from 35 bln. rbl. in 2008 to 42 bln. rbl. in 2009.
Net income of the company in 2009 totaled 49 million rubles as compared with 1 bln.82 mln. rbl. of the year 2008. This factor change was due to technological procedure of revenue accounting on market fluctuation of JSC TKZ “Krasny Kotelschik” shares in the financial reports for 2008.
JSC “EMAlliance” expenses, excluding depreciation, increased from 1 billion 635 million rubles in 2008 to 6 billion 41 million rubles in 2009. With that expenditure growth rate was lower than revenue growth rates which resulted in positive cash flow growing.
Company assets amounted to 17 billion 417 million rubles and increased by 3,1% from the same period a year earlier.
When estimating JSC “EMAlliance” financial results it should be considered that they are not consolidated, and do not include the financial results of other legal bodies within the group.
Based on the positive financial results of the previous year JSC “EMAlliance” plans to continue the implementation of programs on costs reduction and business structure optimization within the group. However, the company is focused on further business development and order portfolio expanding within Russian energy sector new programs on existing generating facilities modernization and new generating capacities construction both in Russia and abroad.
JSC “Energomashinostroitelny Alliance” (EMalliance) is one of the leaders of domestic power machine-building industry, having international experience and competence in designing, fabrication and complete supply of “boiler islands” for TPP, including EPC-contracts. “EMAlliance” possesses more than 70,83% of common shares of Plant “Krasny Kotelschik”. EMA’s engineering branches are located in Taganrog, Podolsk, Barnaul and Ivanovo. Enterprise personnel is 6000 employees, among them 700 highly qualified designers. The present day the company is able to design boilers with steam generation from 100 to 4000 tones per hour, (inc. for the equipment with to-, above-, ultra supercritical steam conditions. EMAlliance possesses the technology of designing and fabrication of HRSG for CCP and performs engineering, complete supply of the equipment for WtE plants and bio fuel processing enterprises and develops new technologies in renewable energy sources, pollution abatement system, coal gasification, SCC.