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Russian Helicopters Reports Increase in Consolidated Revenues

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Russian Helicopters consolidated revenues in 2012 totaled RUB 125.7 billion, an increase of 21.0% compared to RUB 103.9 billion in 2011.

The increase was driven primarily by growth of 10.7% in helicopter deliveries. Revenues from helicopter sales amounted to RUB 99.0 billion in 2012, while revenues from services and support reached RUB 18.4 billion.

The cost of sales increased by 26.3% compared to 2011 and amounted to RUB 79.9 billion in 2012, while operating expenses increased by 18.2% year-on-year and totaled RUB 30.6 billion.

EBITDA rose 16.0% year-on-year and reached RUB 20.8 billion in 2012. EBITDA for the helicopter sales segment amounted to RUB 15.4 billion, and EBITDA for our services and support segment amounted to RUB 4.2 billion.

The companys profit grew 35.2% year-on-year and totaled RUB 9.4 billion for the year.

Cash CAPEX slightly decreased by 5.5% compared to 2011 and amounted to RUB 13.0 billion in 2012, including investments in production facilities of RUB 7.6 billion, a decrease of 16.4% compared to 2011.

Russian Helicopters development costs increased by 16.1% compared to 2011 and amounted to RUB 5.3 billion in 2012.

Dmitry Petrov, CEO of Russian Helicopters, said, Last year was another year of steady growth and successful achievements for the company. We continued to increase deliveries to our customers, which demonstrates the growing global demand for our helicopters. In 2012 we delivered 290 helicopters of nine different types to our clients from 19 countries a 10.7% increase compared to the previous year. We maintained our firm backlog at a high level; at the end of the year the backlog stood at 817 helicopters with a value in excess of RUB 350 billion. During 2013 we will continue to focus our activities on key strategic areas: we will continue to modernize and diversify our model range, to develop our aftermarket service network and to increase operational efficiency. We aim to further strengthen ompanys global market position, and ensure its further dynamic growth and steady development.

2012 Full Year Operating Highlights

Helicopter deliveries in 2012 increased to 290 units, 28 units or 10.7% up compared to 2011. The company delivered nine types of helicopters to clients from 19 countries in 2012.

The companys firm backlog reached 817 units and its value exceeded RUB 359.9 billion in 2012.

In 2012 the company signed several significant contracts for the supply of helicopters in 2012-2016 with India, China and Brazil.

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