VSMPO-AVISMA profit in the first quarter

Titanium Russian company VSMPO-AVISMA Corporation has provided data concerning its own activities in the first quarter of the current year. If we talk about economic profit, January-March 2017 the indicators have reached 5.07 billion RUB. Compared to 2016 is the result deteriorated by 34%. Decreased and revenue increased. During the period under review it amounted to 17.9 billion RUB. The main share of revenue component RUB 16.9 bln, it is necessary for the implementation of titanium products. The reduction in revenue occurred under the influence of several factors. In the first quarter, an increase of the volume of shipped goods in kind. Also on indicators was affected by the changed structure of production, selling cost in USD.

You should consider accounts receivable of VSMPO-AVISMA. At the end of 2016, it amounted to 16.25 billion RUB. For the period, it increased to the level 20,14 billion RUB. Accounts payable decreased to 6.46 billion RUB, the previous figure was of 8.12 billion RUB. Overdue accounts payable amounted to RUB 707,3 million. Her presence brought the need Bank details required for payment provided by the accounts. There was also the incomplete package of documents required for payment.

Recently VSMPO was suspended the press for equipment repair. His force of 75,000 tons. The main objective of the process — the work of replacement of working cylinders. The difficulty is the large weight of items and the necessity of high accuracy when they are installed. Recovery press 170 was launched in 2011. At the same time in connection with production necessity, the final package was postponed. The overhaul will not affect the implementation of the approved plan.