THAT DAY WHEN sHAREholders OF OUR COMPANY HAD THEIR MEETING was also the visit day of our President (Victor Yanukovich) to our city. This explains why Mr. V. Boguslaev, Chairman of board of directors, was not present at this meeting. Mr. A. MALYSH, Director responsible for public relations, Chairman of the supervisory board of our company, chaired the meeting instead of him and Mr. P. ZHEMANYUK, Technical Director, delivered the keynote report.
SOUNDED indicators of enterprise business function confirmed the efficiency of chosen strategy. Increase in output for the previous year comes to 114.5 percent with reference to annual return for 2010.Our industrial product sales increased by 121 percent. For this year we have already planned 118.2 % increase of output growth ratio, 125.5% increase of consumer movement growth ratio. The expected total amount of inpayment is about 7.1 bln. UAH. On the basis of those favourable forecasts one can say that the financing of a number upcoming development trends is really possible. And finally as for the point which is closely related to any person who is working at the factory and his prosperity – they promise us gradual pay increase.
it is worthy OF note that the manufacture of new engines is realizing by the enterprise from its own funds including minimum government support. We are talking not only about aeronautical engineering but also about helicopter industry and ground units. Our major produce includes turbo-engines for civil and military aircraft, created on the base of such engines industrial gas-turbine drives for electric power plants and gas-pumping units, also gas turbine power plants and gas-compressor units equipped with such drive, wide range of consumer goods. The separate sphere of activity is the upgrading of Mi-8T and Mi-2 helicopters and further creation on their base new Mi-8MSB and MSB-2 helicopters.
The ENTERPRISE has finished off the last year with net income in an amount equal to 1 bln. 344.2 mln. UAH. The sum in an amount equal to 141 mln. UAH was spent for credit repayments. The sum in an amount equal to 717 mln. UAH was spent for working capital financing to implement contracts for 2012.The rest sum in an amount equal to
485.5 mln. UAH was distributed as follows: dividend payment - 49.5 mln. UAH , investments and technical upgrading - 436.3 mln. UAH. Those lucky who hold MS shares receive 25 UAH per each. Dividends will increase by 2.5 in comparison with previous year.
The ACTIVITY of MS supervisory board is considered to be satisfactory (this was told by speaker – Mr. A. Malysh) and the annual report was approved. Mr. A. Polyvianiy, Chairman of check-up committee, reported on carried-out activity. Mr. V. Lunin, Financial director, was talking about profits and specialized funds. Mr. O. Pokatov, Staff Management Director, told about amendments and additions to the Statute. Decisions on all items on the agenda passed by majority vote.
... and THEN new mission is waiting for us, hence we have to meet this challenge together.