Russian Helicopters’ H1 2016 income drops 25%

African customers generated the largest share of the Russian Helicopters' revenue (Photo by Russian Helicopters)

Income of the Russian Helicopters in the first half of 2016 (by IFRS standards) dropped by 24.1% to 9.841 billion rubles ($156,21 million), the holding reported. The company’s revenue also decreased but not so dramatically – only by 1.4%, to 86.042 billion rubles ($1.37 million).

The main revenue-generating segment of the holding’s business is helicopter sales: this segment accounted for 66.308 billion rubles (-9.2%), EBITDA — 13,251 billion rubles (-35.8%). Maintenance and after-sales support showed following results: 17.462 billion rubles (+29.9%) and 8,061 billion rubles (+29.6%) respectively.

Unlike the previous year the main volumes came from Africa but not from Asia: deals with the clients from this region generated 40.070 billion rubles of revenue – 97.3% more than the year before. The Russian clients secured the second place providing 21.005 billion rubles of revenue (+8.3%). The rest of the ranking is as follows: Asia (18,886 billion rubles; -47.3%), CIS (2.828 billion rubles; -23.5%), USA (1.811 billion rubles; -76.3%) and Europe (1.438 billion rubles; 20 times higher than the year before).

Russian government entities – Ministry of Industry and Trade, Ministry of Defense, Ministry of Emergency Situations, Ministry of Internal Affairs – are the largest Russian Helicopter customer. They accounted for more than 10% in the total revenue.