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Russia’s Kalashnikov automatic rifle producer plans to double revenues in 2016 Tass 510022163.
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Defence & Security News - Kalashnikov
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| Russia’s Kalashnikov automatic rifle producer plans to double revenues in 2016 | |||
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The Kalashnikov Corporation, the producer of the famous Kalashnikov automatic rifle and part of Russia’s state hi-tech corporation Rostec, is planning to double its revenues in 2016, the corporation’s press office said on Wednesday February 10th.
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 Kalashnikov Corporation, the producer of the famous Kalashnikov rifle is a part of Russia’s state hi-tech corporation Rostec |
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In 2015, the Kalashnikov Corporation increased its revenues by 180% to 8.2 billion rubles ($103 million) to post net profits, the press office added.
The Kalashnikov Corporation improved its key financial indicators through comprehensive measures to boost the efficiency of production and business processes, the press office quoted Corporation CEO Alexander Krivoruchko as saying. "In 2016, we will continue implementing programs to increase the efficiency of our operations and are planning to double revenues and output, as well as to increase labor productivity by 50%, which will have a positive effect on the corporation’s total financial result," the press office quoted Krivoruchko as saying. In 2015, the Kalashnikov Corporation received 8.2 billion rubles ($103 million) in revenues in 2015, which is 5.3 billion rubles ($67 million) or 2.8 times more, year-on-year. Last year, the corporation’s net profit totaled 2.1 billion rubles ($26.6 million) compared with a loss of 340 million rubles ($4.2 million) in 2014. In 2015, the corporation’s sales profit equaled 1.2 billion rubles ($15 million) compared with a loss of 144 million rubles ($1.8 million) in 2014. Last year, the corporation’s EBITDA grew by 3.1 billion rubles ($39 million), year-on-year, to 3 billion rubles ($37.7 million). According to the report, the corporation’s output grew by 158% in 2015 and its workforce rose by 8% to 5,116 people while its labor productivity increased by 139% to 1.8 million rubles ($22,642) per worker annually. The value of the corporation’s net assets grew by 1.6 times from 4.6 billion rubles ($58 million) to 7.6 billion rubles ($95.6 million) in 2015, the press office said. "The improved production system will allow resolving a lot of problems within the coming two or three years, in particular, organizational issues," the corporation’s CEO said. "This will increase the efficiency of production considerably, reduce constant expenses by 20% or even more and improve the quality of products," he added. |
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