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28 June, Wednesday

Ufa   °

Salavatneftemash increased its net profit by 1.9 times in 2013

Business

JSC "Salavatneftemash" completed the year of 2013 with a net profit of 69.4 million rubles, which is by 1.9 times more than in 2012; it follows from the company's annual report according to RAS.

Revenues amounted to 1.2 billion rubles with an increase to the level of 2012 by 2.2 percent, including the production of oil equipment — 1 billion rubles (with a slight decrease – by 0.7 percent). Cost of sales amounted to 751.8 million rubles (plus 4.4 percent). Gross profit was developed at 485 million rubles (minus 1 percent). Profit before tax amounted to 103.2 million rubles (growth — by 70.7 percent).

Accounts receivable of Salavatneftemash YTD increased by 22.4 percent — up to 237.8 million rubles. Short-term accounts payable increased by one third and reached 638.8 million rubles.

JSC "Salavatneftemash" is one of the largest Russian manufacturers of equipment for oil and gas industry and trunk pipelines equipment. 100 percent of the authorized capital of the company is owned by JSC "Salavatneftehimremstroy".

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