Power Machines OJSC declared its 9M 2010 financial outcome in accordance with RAS

Power Machines OJSC made its accounting statements for the nine-month period of 2010 in accordance with Russian Accountancy Standards (RAS). In 9M 2010, the company’s net profit totalled RUR 4.146 bln, an increase of 7% as compared to RUR 3.890 bln in 2009.

The 9M 2010 revenue amounted to RUR 29.153 bln, which is 16% less than in 2009. At the same time, the 9M 2010 gross profit of RUR 10.041 bln exceeded the 2009 figure by 16%. Profit on sales grew by 14% against the 2009 level to reach RUR 6.044 bln. In 9M 2010, the company’s net profit totalled RUR 4.146 bln, an increase of 7% as compared to RUR 3.890 bln in 2009.

Power Machines’ financial statements reflect positive dynamics of the company’s main performance indicators which is due to the implementation of a comprehensive program to lower costs, minimize production expenditures, and optimize procurement practices.

Financial Statements of Power Machines OJSC for the 9M 2010 in accordance with RAS

Indicator

The 2010 accounting period,
thsd RUR

The same period in 2009,
thsd RUR 

Deviation,
in %

Revenue

29,153,261

34,521,156

84%

Production cost

(19,112,340)

(25,898,346)

74%

Gross profit

10,040,921

8,622,810

116%

Profit (loss) on sales

6,043,774

5,291,234

114%

Net profit (loss)

4,146,075

3,890,370

107%