OJSC Power Machines declares its financial outcome for the 1st semester of 2009 in accordance with RAS

OJSC Power Machines made accounting statements for the first semester of 2009 in accordance with Russian Accountancy Standards (RAS).

Revenue of Power Machines for the 1st semester of 2009 amounts to 20,388,858 thousand rubbles which exceeds the index of the 1st semester of 2008 by 1.8 times (11,410,746 thousand rubbles). Net profit of the company amounts to 2,368,140 thousand rubbles which exceeds the same index of 2008 by 68 times (34,549 thousand rubbles).

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to 3,211,158 thousand rubbles which exceeds the same index of 2008 by 6.8 times (468,479 thousand rubbles).

Financial indicators increase due to company’s product portfolio diversification, increase in production capacities use and quantity of shipments of manufactured equipment.

Financial Statements of OJSC Power Machines for the 1st Semester of 2009 in accordance with RAS

Index

For accounting period,
thousand rubbles

For same period of previous year,
thousand rubbles

Revenue

20,388,858

11,410,746

Production cost

(15,431,492)

(8,933,100)

Gross profit

4,957,366

2,477,646

Profit (loss) on sales

2,873,683

296,850

Net profit (loss)

2,368,140

34,549

EBITDA

3,211,158

468,479